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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States J" Circular No. 6 3 7 4 "1 L July 25, 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 District: T h e fo llo w in g statem en t w as issu e d b y the T re a s u r y D ep a rtm en t and relea sed at 6 :30 p.m. y esterd a y : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated A pril 30, 1969, and the other series to be dated July 31, 1969, which were offered on July 17, 1969, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details o f the two series are as follow s: Range of Accepted Competitive Bids 273-Day Treasury Bills Maturing April 30, 1970 High ................................... L o w ........................................... Average ................................... Price 94.422 94.372 94.383 365-Day Treasury Bills Maturing July 31, 1970 Approx. equiv. annual rate 7.356% 7.422% 7.407%1 Price 92.649 92.559 92.585 Approx. equiv. annual rate 7.250% 7.339% 7.313%1 i These rates are on a bank discount basis. The equivalent coupon issue yields are 7.85 percent for the 273-day bills, and 7.85 percent for the 365-day bills. (52 percent of the amount of 273-day bills bid for at the low price was accepted.) (73 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders A pplied for and Accepted (By Federal Reserve Districts) 273-Day Treasury Bills Maturing April 30, 1970 District Applied for 300,000 B o s t o n ................................ $ New Y o r k .......................... 1,297,558,000 P hiladelphia...................... 5,309,000 Cleveland 10,668,000 Richmond .......................... 9,690,000 Atlanta 14,009,000 Chicago " * 107,416,000 St. Louis ! .......................... 25,887,000 Minneapolis .................. 13,480,000 Kansas C i t y ...................... 2,097,000 Dallas ............................. 11,305,000 111,859,000 San Francisco .................. T o t a l .......................... $1,609,578,000 Accepted $ 300,000 $ 451,558,000 309,000 5,868,000 2,690,000 3,384,000 19,816,000 11,587,000 480,000 1,291,000 1,305,000 1,559,000 $500,147,000* 365-Day Treasury Bills Maturing July 31, 1970 Applied for 10,892,000 $ 1,734,863,000 12,451,000 9,136,000 14,169,000 17,945,000 189,181,000 32,654,000 10,526,000 13,246,000 12,155,000 146,024,000 $2,203,242,000 Accepted 892,000 996,163,000 2,451,000 9,136,000 11,169,000 9,945,000 116,181,000 24,654,000 526,000 5,865,000 6,155,000 17,804,000 $1,200,941,000b a Includes $14,039,000 noncompetitive tenders accepted at the average price of 94.383. b Includes $43,284,000 noncompetitive tenders accepted at the average price of 92.585. A lfred H ayes , President.
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