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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States r Circular No. 6 3 1 0 *1 L March 27, 1969 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: T h e fo llo w in g statem en t w as issu ed b y the T r e a s u r y D ep a rtm en t and relea sed at 6 :3 0 p.m. y e ste rd a y : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue o f the bills dated December 31, 1968, and the other series to be dated March 31, 1969, which were offered on March 18, 1969, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, o f 275-day bills and for $1,000,000,000, or thereabouts, of 365-day bills. The details of the two series are as follow s: Range of Accepted Competitive Bids 2 7 5 -D a y T r e a s u r y B ills M a tu r in g D e c e m b e r 3 1 ,1 9 6 9 Price High ......................................... Low ........................................... Average ................................... 95.387 95.364 95.372 3 6 5 -D a y T r e a s u r y B ills M a tu r in g M a r c h 3 1 ,1 9 7 0 Approx. equiv. annual rate Price 6.039% 6.069% e.058% 1 93.825 93.752 93.783 Approx. equiv. annual rate 6.090% 6.162% 6.132%! i These rates are on a bank discount basis. The equivalent coupon issue yields are 6.37 percent for the 275-day bills, and 6.52 percent for the 365-day bills. (38 percent of the amount of 275-day bills bid for at the low price was accepted.) (27 percent of the amount of 365-day bills bid for at the low priee was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 2 7 5 -D a y T r e a s u r y B ills M a tu r in g D e c e m b e r 3 1 ,1 9 6 9 District Applied fo r Boston ................................. $ 189,000 New Y o r k ........................... 1,270,482,000 P hiladelph ia...................... 5,416,000 Cleveland .......................... 5,449,000 Richmond .......................... 161,000 Atlanta ............................... 13,169,000 Chicago .............................. 102,988,000 St. L o n i s ............................ 33,848,000 13,305,000 Minneapolis ...................... Kansas C i t y ...................... 10,821,000 Dallas ................................. 11,424,000 San Francisco .................. 102,649,000 T o t a l ........................... $1,569,901,000 Accepted $ 189,000$ 438,267,000 416,000 5,449,000 161,000 1,253,000 21,188,000 23,928,000 305,000 3,821,000 1,424,000 3,649,000 $500,050,000a 3 6 5 -D a y T r e a s u r y B ills M a tu r in g M a rc h 3 1 ,1 9 7 0 Applied for Accepted 690,000 $ 1,350,418,000 12,635,000 16,827,000 1,973,000 13,626,000 112,999,000 43,714,000 10,427,000 11,090,000 12,345,000 172,619,000 690,000 729,218,000 2,405,000 11,727,000 1,973,000 8,626,000 58,999,000 41,214,000 10,427,000 9,090,000 6,345,000 119,619,000 $1,759,363,000 $1,000,333,000b a Includes $17,432,000 noncompetitive tenders accepted at the average price o f 95.372. b Includes $44,574,000 noncompetitive tenders accepted at the average price of 93.783. A lfred H ayes, President.
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