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FE D E R A L R E SE R V E BA N K O F NEW Y O R K Fiscal Agent of the United States [ Circular No. 6 644 "1 November 27, 1970 J Results of Offering of $2.1 Billion Strip of Treasury Bills To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: T he follow in g statement was issued by the T reasury Department and released at 6 :3 0 p.m., N ovem ber 25, 1970: T he T reasu ry D epartm ent announced that tenders for additional am ounts of seven series of T reasu ry bills to an aggregate am ount of $2,100,000,000, or thereabouts, to be issued December 2, 1970, which were offered on N ovem ber 17, 1970, were opened at the Federal Reserve Banks today. T he am ount of accepted tenders will be equally divided am ong the seven issues of o ut standing T reasu ry bills m aturing Jan u ary 7, January 14, January 21, Jan u ary 28, F ebruary 4, F eb ru ary 11, and F eb ru ary 18, 1971. T he details of the offering are as follow s: T otal applied for . T otal accepted . . . $3,555,405,000 $2,100,105,000 (includes $264,845,000 entered on a non competitive basis and accepted in full at the average price shown below) R ange of accepted competitive b id s : H igh ............................................... Low ............................................... A verage ........................................ 1 This rate is on a bank discount basis. (53 percent of the am ount bid for Price Approximate equivalent annual rate of discount based on 57 days (average number of days to maturity) 99.303 99.240 99.257 4.402% 4.800% 4.693 % x The equivalent coupon issue yield is 4.79 percent. at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) District Applied for B o s t o n ....................................................... New Y ork ............................................... Philadelphia ............................................ Cleveland ................................................. Richmond ................................................. A tlanta ..................................................... Chicago ..................................................... St. L o u i s ................................................... M inneapolis ............................................ K ansas C ity ............................................... Dallas ....................................................... San Francisco ........................................ $ 185,010,000 1,500,905,000 170,240,000 202,335,000 30,905,000 66,885,000 343,280,000 65,695,000 464,450,000 125,545,000 198,590,000 201,565,000 .................................... $3,555,405,000 T otal Accepted $ 181,650,000 525,770,000 141,540,000 113,190,000 30,905,000 58,905,000 274,505,000 65,695,000 443,870,000 124,915,000 66,465,000 72,695,000 $2,100,105,000 A lfred H a yes, President.
@FedFRASER