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FEDERAL RESERVE BANK OF NEW YORK F isc a l A g e n t of th e U n ite d S ta te s C ircular No. 6 4 7 7 1 J a n u a ry 28, 1970 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: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The T reasury D epartm ent announced th a t the tenders for two series of T reasury bills, one series to be an additional issue of the bills dated October 31, 1969, and the other series to be dated Ja n u a ry 31, 1970, which were offered on J a n u a ry 21, 1970, were opened at the F ederal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 271-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 A ccepted Com petitive Bids 365-Day Treasury Bills M aturing January 31, 1971 271-Day Treasury Bills M aturing October 31, 1970 Price Price Approx. equiv. annual rate 94.211 94.151 94.185 H igh .. Low . . . Average Approx. equiv. annual rate 7.690% 7.770% 7.725%! 92.4213 92.300 92.362 7.475% 7.595% 7.533%! a Excepting one tender of $1,000. l These rates are on a bank discount basis. The equivalent coupon issue yields are 8.21 percent fo r the 271-day bills, and 8.11 percent for the 365-day bills. (75 percent of the am ount of 271-day bills bid for at the low price was accepted.) (93 percent of the am ount of 365-day bills bid for at the low price was accepted.) T otal Tenders A pplied for and A ccepted (By F ederal Reserve D istricts) 271-Day Treasury Bills M aturing October 31, 1970 B o s to n ............. New York Philadelphia . Cleveland ---Richmond A tlan ta ......... C h ic a g o ......... St. Louis M inneapolis . K ansas City . Dallas ........... San Francisco Accepted Applied for District $ 1,058,000 1,109,901,000 8,534,000 3,901,000 840,000 10,516,000 84,509,000 13,963,000 16,204,000 2,081,000 14,239,000 76,781,000 $1,342,527,000 365-Day Treasury Bills M aturing m ary 31, 1971 $ 1,058,000 394,901,000 7,784,000 3,901,000 840,000 7,516,000 34,509,000 10,963,000 6,704,000 2,081,000 7,239,000 22,531,000 $500,027,000b Applied for $ 13,767,000 1,301,721,000 17,295,000 17,895,000 7,918,000 23,696,000 145,176,000 26,109,000 17,421,000 14,365,000 19,713,000 89,830,000 $1,694,906,000 Accepted $ 3,767,000 724.371.000 17.295.000 16.725.000 7,918,000 13.947.000 117.176.000 26.109.000 10.921.000 14.239.000 12.713.000 34.830.000 $1,000,011,000c b Includes $25,130,000 noncompetitive tenders accepted a t the average price of 94.185. c Includes $133,565,000 noncompetitive tenders accepted a t the average price of 92.362. A lfr ed H ayes, President.
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