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FEDERAL R E SER VE BANK O F N E W YORK F i s c a l Agent o f the U nited S ta te s C ir cu la r N o. 6683 J an uary 29, 197 1 To All Banking Institutions, and Others Concerned, in the Second Federal R eserv e D istrict: The following statement was made public today by the Treasury Department: RESULTS OF TREASURY REFUNDING The Treasury announced that $15.9 billion of the $29.6 billion of the nine eligible issues of securities have been exchanged, including $10.8 billion of the $19.5 billion held by the genĀ eral public. Exchanges totaled $7.6 billion for the 5 -7 /8 % notes maturing August 15, 1975, and $8.3 billion for the 6 -1 /4 % notes maturing February 15, 1978. Following is a summary of exchanges by the general public (amounts in millions): To be issu ed Eligible for exchange Unexch anged Amount 5-7/8% N otes 8/15/75 6-1/4% N otes 2/15/78 T otal T otal % of elig ib le 2 / 1 5 / 7 1 .............. 2/15/71 .............. $ 2,285 2,728 $1,005 975 $1,140 1,021 $ 2,145 1,996 $ 140 732 6.1 26.8 S u b t o t a l ........................................... 5,013 1,980 2,161 4,141 872 17.4 3 /1 5 /7 1 .............. 1,011 314 450 764 247 24.4 5-3/8% n o te s 1 1 /1 5 /7 1 .............. 7-3/4% n o te s 1 1 /1 5 /7 1 .............. 3-7/8% b o n d s 1 1 /1 5 /7 1 .............. 4-3/4% n o te s 2 /1 5 /7 2 .............. 7-1/2% n o te s 2 /1 5 /7 2 .............. 4% b o n d s 2/15/72 .............. 1,441 3,101 2,230 1,561 3,131 2,021 325 325 754 516 390 607 396 500 716 439 295 647 721 825 1,470 955 685 1,254 720 2,276 760 606 2,446 767 50.0 73.4 34.1 38.8 78.1 38.0 S u b t o t a l ........................................... 13,485 2,917 2,993 5,910 7,575 56.2 $19,509 $5,211 $5,604 $10,815 $8,694 44.6 D escription 5-3/8% n o te s 7-3/4% n o te s 2-1/2% b o n d s T o t a l ................................. ... Federal Reserve Banks and Government accounts exchanged $5.0 billion of eligible securities, including $0.3 billion maturing February 15, 1971, $0.2 billion maturing March 15, 1971, $4.2 billion maturing November 15, 1971, and $0.3 billion maturing February 15, 1972. These exchanges totaled $2.3 billion for the 5 -7 /8 % notes and $2.7 billion for the 6 -1 /4 % notes. A lfred Hayes, President.