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FEDERAL R E S E R V E BANK OF N EW YORK Fiscal Agent of tlie United States r Circular No. 6 4 1 0 T L September 24, 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: The follow ing statem ent was issued by the T reasu ry D epartm ent and released at 6 :3 0 p.m. y e ste r d 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 June 30, 1969, and the other series to be dated September 30, 1969, which were offered on September 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 $1,000,000,000, or thereabouts, of 365-day bills. The details of the two series are as follows : Range of Accepted Competitive Bids 273-Day Treasury B ills Maturing Ju n e 30,19 70 Price High ........................................... L o w ............................................. Average ..................................... 94.464a 94.408 94.421 365-Day Treasury B ills Maturing September 30,19 70 Approx. equiv. annual rate Price Approx. equiv. annual rate 7.300% 7.374% 7.357%* 92.660 92.530 92.548 7.239% 7.368% 7.350% 1 a Excepting one tender of $1,000. i These rates are on a bank discount basis. The equivalent coupon issue yields are 7.80 percent for the 273-day bills and 7.90 percent for the 365-day bills. (27 percent of the amount of 273-day bills bid for at the low price was accepted.) (69 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 273-Day Treasury Bills Maturing J une 30,19 70 District Applied fo r B o sto n ................................... $ 299,000 New Y o r k ............................ 1,027,607,000 Philadelphia........................ 5,549,000 Cleveland ............................ 520,000 Richmond ............................ 18,975,000 Atlanta ................................ 9,117,000 Chicago ................................ 76,980,000 St. L o u is .............................. 8,992,000 Minneapolis ........................ 6,743,000 Kansas C i t y ........................ 1,103,000 Dallas ................................... 10,938,000 San Francisco ................... 90,507,000 T o t a l ............................ $1,257,330,000 b c Accepted $ 299,000$ 385,307,000 549,000 520,000 6,475,000 1,117,000 46,980,000 3,992,000 2,743,000 1,103,000 3,938,000 47,047,000 $500,070,000b 365-Day Treasury Bills Maturing September 30,1970 Applied fo r Accepted 10,515,000 $ 1,491,362,000 12,863,000 12,425,000 20,552,000 15,339,000 235,339,000 21,929,000 12,683,000 8,870,000 12,683,000 94,673,000 515 000 784,832,000 2,863 000 7,425^000 8,552 000 5,339.000 116,289 000 10,929 000 5,683 000 6 170 000 4.373^000 48.518.000 $1,949,233,000 $1,001,488^000° Includes $16,072,000 noncompetitive tenders accepted at the average price of 94.421. Includes $55,554,000 noncompetitive tenders accepted at the average price of 92.548. A lfred H ayes, President.
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