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FED ER A L R E S E R V E BANK O F N EW YORK Fiscal A gen t of the United States ]" C ircu la r N o . 6 3 9 3 T L A u g u s t 21, 1969 J Results of Offering of $2.1 Billion Strip of Treasury Bills T o A ll In corpora ted Banks and Trust Companies, and Others Concerned, in the Second F ederal R eserve D is tr ic t: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced that tenders for additional amounts of seven series of Treasury bills to an aggregate amount of $2,100,000,000, or thereabouts, to be issued August 25, 1969, which were offered on August 14, 1969, were opened at the Federal Reserve Banks today. The amount of accepted tenders will be equally divided among the seven issues o f outstanding Treasury bills maturing September 18, September 25, October 2, October 9, October 16, October 23, and October 30, 1969. The details of the offering are as follows: Total applied for Total accepted . . $3,727,339,000 $2,100,000,000 (includes $89,572,000 entered on a non competitive basis and accepted in full at the average price shown below) Range o f accepted competitive bids: P rice High ........................................... L o w ............................................. Average ..................................... A pproxim ate equivalent annual rate o f discount based on 45 days ( average number o f days to m atu rity) 99.346 99.284 99.307 5.232% 5.728% 5.544% 1 i This rate is on a bank discount basis. The equivalent coupon issue yield is 5.66 percent. (4 percent of the amount bid for at the low price was accepted.) Total Tenders A p p lied fo r and A ccepted (By Federal Reserve Districts) D istrict Boston ................................................... New Y o r k ............................................. Philadelphia ....................................... Cleveland ............................................. Richmond ............................................. Atlanta ................................................. Chicago ............................................... St. L o u i s ............................................... Minneapolis ........................................ Kansas City ........................................ Dallas ................................................... San Francisco .................................... T o t a l ..................................................... A pplied fo r A ccep ted $ 139,895,000 1,886,871,000 229,971,000 271,061,000 74,956,000 95,921,000 376,159,000 85,631,000 190,995,000 68,257,000 129,325,000 178,297,000 $ $ 3 ,7 2 7 ,3 3 9 ,0 0 0 83,895,000 786,478,000 180,971,000 257,061,000 66,430,000 89,411,000 224,959,000 70,021,000 148,995,000 66,157,000 45,325,000 80,297,000 $ 2 ,1 0 0 ,0 0 0 ,0 0 0 A lfred H ayes, President.
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