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» FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent of the U nited States r Circular No. 6 4 8 7 ~1 L February 17, 1970 J RESULTS OF BIDDING FO R 91-DAY AND 182-DAY TREASURY BILLS TO BE ISSUED FEBRU A RY 19, 1970 To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the time of printing our Circular No. 6486, dated F ebruary 16, 1970, announcing an offering of 91-day and 182-day T reasury bills, to be issued February 26, 1970, the results of bidding for the previous week’s offering of 91-day and 182-day Treasury bills, to be issued February 19, 1970, were not available. The results, now available, a re : R ange of Accepted Com petitive Bids 91-Day Treasury Bills M aturing M ay 21,1970 Price H igh ............... ....................... Low ............... ....................... Average ........ ....................... 98.310* 98.273 98.287 182-Day Treasury Bills M aturing A ugust 20,1970 Approx. equiv. annual rate A pprox. equiv. annual rate Price 6.686% 6.832% 6.777% ’ 96.53P 96.470 96.503 6.862% 6.982% 6.917% 1 b Excepting four tenders totaling $1,000,000. a Excepting one tender of $200,000. on a bank discount basis. The equivalent coupon issue yields are 6.99 percent for the 91-day bills, and 1 These rates are 7.27 percent for the 182-day bills. (16 percent of the amount of 91-day bills bid for at the low price was accepted.) (91 percent of the amount of 182-day bills bid for at the low price was accepted.) T otal Tenders A pplied for and Accepted (By F ederal Reserve D istricts) 91-Day Treasury Bills M aturing M ay 21,1970 Applied for District Boston ................... New York ............. Philadelphia ........ Cleveland ............... Richmond ............. A tlanta ................... Chicago ................. St. Louis ............... Minneapolis ........... Kansas City .......... Dallas ..................... San Francisco T ota l ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. $ 25,464,000 1,988,318,000 46,017,000 46,293,000 21,634,000 61,242,000 195,554,000 49,829,000 34,211,000 38,579,000 30,930,000 153,466,000 ................. $2,691,537,000 182-Day Treasury Bills M aturing A ugust 20,1970 Accepted $ 25,045,000 1,250,398,000 31,017,000 44,833,000 21,623,000 57,074,000 111,354,000 48,529,000 24,211,000 38,346,000 21,930,000 126,046,000 $1,800,406,000° Applied fo r $ Accepted 8,721,000 1,484,867,000 24,852,000 46,841,000 18,832,000 49,999,000 183,995,000 37,480,000 23,525,000 35,089,000 32,472,000 148,639,000 $2,095,312,000 $ 8,721,000 773,667,000 14,852,000 45,751,000 18,832,000 45,998,000 108,995,000 34,980,000 18,345,000 34,787,000 24,382,000 70,847,000 $1,200,157,000d c Includes $425,720,000 noncompetitive tenders accepted at the average price of 98.287. d Includes $289,012,000 noncompetitive tenders accepted at the average price of 96.503. A lfred H a y e s , President.
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