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FED ER AL RESERVE BANK OF N E W YORK Fiscal Agent of the United States r Circular No. *- 6598-1 S ep te m b er 1, 1970 J R E SU L T S O F B ID D IN G FO R 91-DAY AND 182-DAY T R E A SU R Y B ILLS TO B E ISSU ED S E P T E M B E R 3, 1970 To A ll Incorporated Banks and T ru st Com panies , and O thers Concerned, in the Second F ederal R eserve D istric t: A t the time of p rinting our C ircular No. 6597, dated A ugust 28, 1970, announcing an offering of 91-day and 182-day T reasu ry bills, to be issued Septem ber 10, 1970, the results of bidding for the previous offering of 91-day and 182-day T reasu ry bills, to be issued Septem ber 3, 1970, were not available. T he results, now available, a re : R ange of A ccepted C o m petitive B ids 9 1 -Day Treasury Bills Maturing December 3 , 1970 P rice H igh ...................... ........................... Low ......................... ........................... A v e ra g e .................. ........................... 182 -Day Treasury Bills M aturing March 4, 1971 A pprox. equiv. annual rate 98.408 98.383 98.397 6.298% 6.397% 6 .3 4 2 % 1 P rice A pprox. equiv. annual rate 96.727 96.686 96.710 6.474% 6.555% 6 .5 0 8 % 1 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 6.53 percent for the 91-day bills, a 6.82 percent for the 182-day bills. (83 percent of the am ount of 91-day bills bid for at the low price was accepted.) (58 percent of the am ount of 182-day bills bid for at the low price was accepted.) T o ta l T en d ers A p p lied fo r and A ccepted (B y F e d e ra l R eserve D istricts) 9 1 -Day Treasury Bills M aturing December 3 , 1970 A pplied for D istrict Boston ......................................... New Y ork ............ ...................... Philadelphia ................................ Cleveland .............. ...................... R ic h m o n d .............. ...................... A tlanta ......................................... Chicago ................ ...................... St. L o u is ................ ...................... M inneapolis ......... ...................... K ansas City ......... ...................... Dallas .................... ....................... ...................... San Francisco T otal ...................... $ 28,930,000 1,708,875,000 38,600,000 40,965,000 43,840,000 46,130,000 198,465,000 50,170,000 26,155,000 33,035,000 31,755,000 131,450,000 $2,378,370,000 182 -Day Treasury Bills Maturing March 4, 1971 A ccepted $ 28,900,000 1,228,025,000 23,600,000 40,965,000 43,840,000 41,880,000 167,615,000 46,820,000 26,155,000 32,035,000 24,585,000 95,600,000 $1,800,020,000 a A pplied for $ A ccepted 16,535,000 1,594,855,000 8,230,000 20,480,000 31,655,000 41,325,000 128,420,000 23,650,000 24,645,000 23,970,000 26,940,000 134,270,000 $ $2,074,975,000 16,535,000 1,074,315,000 8,230,000 20,480,000 27,655,000 31,375,000 70,380,000 23,150,000 16,225,000 22,970,000 14,940,000 73,870,000 $1,400,125,000 a Includes $346,380,000 noncompetitive tenders accepted at the average price of 98.397. b Includes $178,475,000 noncompetitive tenders accepted at the average price of 96.710. A lfred H a y es, President.
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