View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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.