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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r C ircu la r N o . 6 3 0 0 ~1 L F e b ru a ry 26, 1969 J Results of Offering of $1 Billion Strip of Treasury Bills To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: T h e f o ll o w in g s ta te m e n t w a s is s u e d b y th e T r e a s u r y D e p a r tm e n t a n d re le a s e d at 6 :3 0 p .m . y e s t e r d a y : The Treasury Department announced that the tenders for additional amounts of five series of Treasury bills to an aggregate amount of $1,000,000,000, or thereabouts, to be issued March 3, 1969, which were offered on February 19, 1969, were opened at the Federal Reserve Banks today. The amount of accepted tenders will be equally divided among the five issues of outstanding Treasury bills maturing April 30, May 31, June 30, July 31, and August 31, 1969. The details of the offering are as follows: Total applied for Total accepted . . $2,960,415,000 $1,000,400,000 (includes $63,735,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of accepted competitive bids: Price High .......................................... L o w ............................................ Average .................................... Approximate equivalent annual rate o f discount based on 119.4 days (average number o f days to maturity) 98.058a 98.035 98.041 5.855% 5.925% 5.907%* a Excepting two tenders totaling $1,100,000. 1 This rate is on a bank discount basis. The equivalent coupon issue yield is 6.11 percent. (75 percent of the amount bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) District Boston .................................................. New Y o r k ............................................. Philadelphia ...................................... Cleveland ............................................ Richmond ............................................ Atlanta ................................................ Chicago .............................................. St. L o u is ............................................... Minneapolis ........................................ Kansas C i t y ........................................ Dallas .................................................. San Francisco .................................... T o t a l ........................................ Applied for Accepted $ 129,315,000 1,427,015,000 165,450,000 155,925,000 13,075,000 74,970,000 353,155,000 75,200,000 201,630,000 74,460,000 128,380,000 161,840,000 $ $2,960,415,000 30,290,000 487,765,000 73,350,000 63,325,000 5,075,000 29,570,000 31,115,000 13,500,000 105,630,000 58,010,000 27,130,000 75,640,000 $1,000,400,000 A lfred H ayes, President.
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