The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F E D E R A L R E S E R V E BANK O F N EW Y O R K F iscal A gent of the U nited S tates C ir c u la r N o. 6540 May 11, 1970 To Al l Ba nk i ng Inst i t u t i o ns , and Ot hers Concerned, in t he S e c o n d Fe d er a l R e s e r v e Di s t r i c t : T h e following statement w a s m a d e public M a y 8 by the T r e a s u r y Department: PRELIMINARY RESULTS OF CURRENT EXCHANGE OFFERING Preliminary data indicate that of $4.9 billion of notes maturing M a y 15 held by the general public $3.3 billion have been e x c h a n g e d for two n e w notes maturing M a y of 1973 and F e b r u a r y of 1977. T h e s e exchanges in combination with the results of the related cash sale to the general public of $3.6 billion of 1 8 - m o n t h notes will provide the T r e a s u r y with a net of s o m e $2.0 billion of cash on M a y 15. Subscriptions total $4,566 million for the 7 - 3 / 4 % notes of Series A-1973, and $3,323 million for the 8 % notes of Series A-1977, of w h i c h $2,421 million and $2,125 million r e spectively w e r e received f r o m Federal R e s e r v e B a n k s and G o v e r n m e n t accounts. Following is a s u m m a r y of exchanges b y the public (dollar a m o u n t s in millions): ELIG IB LE FO k EXCHANGE NOTES TO BE ISSUED UNEXCHANGED 8% No t e s 2/15/77 Tot al to be issued To t al amount % of t ot al out s t a nd i n g Descri pt ion To t al 7 - 3/ 4% Notes 5/15/73 5-5/8% n o tes $2,331 $1,019 $ 605 $1,624 $ 707 30.3 6-3/8% n o tes 2,551 1,126 593 1,719 832 32.6 T o ta ls $4,882 $2,145 $1,198 $3,343 $1,539 31.5 Details by Federal R e s e r v e Districts as to subscriptions will be announced later. Alfred Hayes, President.
@FedFRASER