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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent of the U nited States Circular No. 6 5 8 0 "1 July 24, 1970 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To A ll Incorporated B a n ls and T rust Companies, and Others Concerned, in the Second Federal Reserve D is tric t: 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 A pril 30, 1970, and the other series to be dated Ju ly 31, 1970, which were offered on Ju ly 16, 1970, were opened a t the F ederal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details of the two series are as follow s: Range of Accepted C om petitive Bids 273-Day Treasury Bills M aturing A p ril 30,1971 H igh ........................................... Low ............................................. Average ..................................... 365-Day Treasury Bills M aturing J u ly 31,1971 P rice A pprox. equiv. annual rate P rice A pprox. equiv. annual rate 95.120 95.080 95.096 6.435% 6.488% 6.467%! 93.548a 93.522 93.532 6.364% 6.389% 6.379%! a Excepting one tender of $190,000. i These rates are on a bank discount basis. The equivalent coupon issue yields are 6.82 percent for the 273-day bills, and 6.80 percent for the 365-day bills. (51 percent of the amount of 273-day bills bid for at the low price was accepted.) (45 percent of the am ount of 365-day bills bid for at the low price was accepted.) Total Tenders A pplied for and Accepted (By Federal Reserve Districts) 273-Day Treasury Bills M aturing A p ril 30,1971 D istrict P h ila d e lp h ia ............. Chicago ...................... St. L o u i s ................... Minneapolis ............. K ansas C i t y ............. D allas ........................ San Francisco ......... T o t a l ...................... A pplied fo r 365-Day Treasury Bills M aturing J u ly 31,1971 Accepted .........$ 880,000 ......... 1,232,400,000 ......... 760,000 ........ 3,630,000 ......... 10,850,000 ......... 22,670,000 ......... 113,920,000 ......... 7,210,000 ......... 15,890,000 .... 8,390,000 ......... 14,520,000 165,450,000 $ 880,000 426,540,000 760,000 1,630,000 350,000 1,370,000 23,720,000 1,710,000 890,000 3,390,000 1,520,000 37,350,000 .........$1,596,570,000 $500,110,000b A pplied fo r $ Accepted 12,000,000 1,949,380,000 5,300,000 15,280,000 20,110,000 37,220,000 197,680,000 30,900,000 16,350,000 17,040,000 16,830,000 169,540,000 $2,487,630,000 $ 2,000,000 1,098,540,000 4,740,000 8,960,000 9,610,000 5,920,000 29,790,000 4,500,000 1,350,000 8,530,000 3,530,000 23,570,000 $1,201,040,000= b Includes $21,090,000 noncompetitive tenders accepted at the average price of 95.096. c Includes $82,750,000 noncompetitive tenders accepted at the average price of 93.532. A lfred H ayes, President.
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