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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 66791 L January 27, 1971 J RESULTS OF TREASURY’S 9-MONTH AND 12-MONTH BILL OFFERINGS To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated October 31, 1970, and the other series to be dated January 31, 1971, which were offered on January 20, 1971, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 272-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 272-Day Treasury Bills Maturing October 31, 1971 Approx. equiv. annual rate Price High .................................... L o w ..................................... Average ............................. 96.812a 96.752 96.775 a Excepting one tender of $200,000. 1 These rates are on a bank discount basis. 4.45 percent for the 365-day bills. 365-Day Treasury Bills Maturing January 31, 1972 Approx. equiv. annual rate Price 4.219% 4.299% 4.268% 1 95.762b 95.645 95.693 4.180% 4.295% 4.248% ! b Excepting three tenders totaling $1,500,000. The equivalent coupon issue yields are 4.44 percent for the 272-day bills, and (20 percent of the amount of 272-day bills bid for at the low price was accepted.) (85 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 272-Day Treasury Bills Maturing October 31, 1971 District Applied for Boston .................... ...... New York .............. Philadelphia............ Cleveland ................ Richmond .............. Atlanta .................... Chicago .................. St. Louis ................ Minneapolis ............ Kansas C ity ............ Dallas ...................... San Francisco ........ T otal ...................... ...... $ 10,110,000 968,790,000 1,170,000 1,360,000 720,000 12,585,000 76,545,000 7,915,000 16,600,000 2,390,000 23,500.000 162,280,000 $1,283,965,000 365-Day Treasury Bills Maturing January 31, 1972 Applied for Accepted $ 10,110,000 380,790,000 1,170,000 1,360,000 720,000 5,785,000 47,545,000 6,915,000 11,600,000 2,390,000 5,500,000 26,280,000 $ 500,165,000c $ Accepted 10,430,000 1,373,035,000 2,485,000 34,820,000 1,575,000 18,700,000 156,290,000 20,225,000 19,185,000 10,555,000 24,320,000 138,975,000 $ $1,810,595,000 10,430,000 841,785,000 2,485,000 34,800,000 1,575,000 14,700,000 138,540,000 17,225,000 19,185,000 9,305,000 10,320,000 99,975,000 $1,200,325,000 d c Includes $16,055,000 noncompetitive tenders accepted at the average price of 96.775. d Includes $38,240,000 noncompetitive tenders accepted at the average price of 95.693. A lfred H ayes, President.
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