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F E D E R A L R E S E R V E BAN K O F N EW Y O R K Fiscal Agent of the United States r Circular No. 6660 1 *• December 21, 1970 J RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS TO BE ISSUED DECEM BER 24, 1970 To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the tim e of printing our C ircular No. 6658, dated Decem ber 18, 1970, announcing an offering of 91-day and 182-day T reasu ry bills, to be issued Decem ber 31, 1970, the results of bidding for the previous offering of 91-day and 182-day T reasu ry bills, to be issued Decem ber 24, 1970, were not available. T he results, now available, a re : R ange of Accepted Com petitive Bids 91 -Day Treasury Bills Maturing March 25 , 1971 H ig h ......................................... L o w ............................. .............. A verage .................... .............. 182 -Day Treasury Bills Maturing June 24 , 1971 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 98.817 98.798 98.805 4.680% 4.755% 4.727% 1 97.612 97.574 97.591 4.724% 4.799% 4 .7 6 5 % 1 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 4.85 percent for the 91-day bills, and 4.95 percent for the 182-day bills. (27 percent of the am ount of 91-day bills bid for a t the low price was accepted.) (80 percent of the am ount of 182-day bills bid for at the low price was accepted.) T otal Tenders A pplied for and A ccepted (By F ederal Reserve D istricts) 91 -Day Treasury Bills Maturing March 25 , 1971 Applied for District Boston ............................ ............ New Y ork ..................... ............ Philadelphia ................. ............ Cleveland ........................ ............ Richm ond ..................... ............ A tlan ta ............................ ............ Chicago .......................... ............. St. Louis ........................ ............ M inneapolis ................... ............ K ansas C i t y ................... ............ Dallas .............................. ............. San Francisco ............... ............ T ota l ....................... ............ $ 26,895,000 2,212,765,000 51,615,000 41,315,000 11,735,000 38,990,000 214,680,000 40,135,000 16,975,000 32,005,000 40,295,000 191,265,000 $2,918,670,000 182 -Day Treasury Bills Maturing June 24 , 1971 Accepted $ 16,895,000 1,350,855,000 21,615,000 35,585,000 11,735,000 24,090,000 196,680,000 36,625,000 15,975,000 29,705,000 17,565,000 142,765,000 $ 1,900,090,000a Accepted Applied for $ 14,375,000 1,924,505,000 24,290,000 25,100,000 4,485,000 22,645,000 154,445,000 18,700,000 14,920,000 13,530,000 33,320,000 109,875,000 $ $2,360,190,000 4,375,000 1,079,505,000 19,290,000 20,100,000 4,485,000 15,845,000 153,445,000 18,200,000 14,920,000 13,530,000 15,920,000 40,575,000 $1,400,190,000 a Includes $250,275,000 noncompetitive tenders accepted at the average price of 98.805. b Includes $106,270,000 noncompetitive tenders accepted at the average price of 97.591. A lfred H ayes, President.
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