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F E D E R A L R E S E R V E BA N K OF N EW YORK Fiscal Agent of the United States C irc u la r N o . 6331 May 9 , 1969 To A ll Banking Institutions, and Others Concerned, in the Second Federal R eserve D istrict: The following statement was made public today by the Treasury Department: PRELIMINARY RESULTS OF CURRENT EXCHANGE OFFERING Prelim inary figures show that about $5,107 million, or 74.9% of the $6,818 million notes and bonds maturing May 15 and June 15 have been exchanged for the two notes included in the current offering. Subscriptions total $2,401 million for the 6-3/8% notes of Series D-1970 and $2,706 million for the 6-1/2% notes of Series B-1976, of which $2,140 million for the 6-3/8% notes and $2,233 million for the 6-1/2% notes were received from the public. Of the eligible securities held outside the Federal Reserve Banks and Government accounts $3,197 million, or 84.5% of an aggregate of $3,784 million, of May 15 maturities and $1,176 million, or 54.9% of an aggregate of $2,144 million of June 15 maturities were exchanged. Following is a breakdown of securities to be exchanged (amounts in millions): ELIG IB LE FOR EXCHANGE SECURITIES TO BE ISSUED 6-3/8% N otes D ate 6-1/2% N o te s S e c u r itie s Due Am ount D -1970 B -1 9 7 6 T ota l 5 -5 /8 % notes, B -1969 5 /1 5 /6 9 $4,2 7 7 $1,7 5 3 $ 1 ,7 8 6 $ 3 ,5 3 9 2 -1 /2 % bonds, 1964-69 6 /1 5 /6 9 2,541 648 920 $6,8 1 8 $2,401 $2,706 Total UNEXCHANGED Amount $ % 738 17.3 1,568 973 3 8 .3 $5,1 0 7 $1,711 25.1 Details by Federal Reserve District as to subscriptions will be announced later. Alfred Hayes, President.
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