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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 6686 "1 L February 9, 1971 J R E S U L T S O F B ID D IN G F O R 9 1 -D A Y A N D 1 8 2 -D A Y T R E A S U R Y B IL L S TO B E IS SU E D F E B R U A R Y 11, 1971 To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: At the time of printing our Circular No. 6685, dated February 5, 1971, announcing an offering of 91-day and 182-day Treasury bills, to be issued February 18, 1971, the results of bidding for the previous week’s offering of 91-day and 182-day Treasury bills, to be issued February 11, 1971, were not available. The results, now avail able, are: Range of A ccepted Com petitive Bids 91 -Day Treasury Bills Maturing May 13; 1971 182-Day Treasury Bills Maturing August 12,1971 Price Approx. equiv. annual rate Price Approx. equiv. annual rate .................................... 99.037 3.810% 98.069 3.820% Low ...................................... 99.026 3.853% 98.049 3.859% A v e ra g e................................ 99.028 3.845 % x 98.059 3.839%1 High 1 These rates are on a bank discount basis. 3.97 percent for the 182-day bills. The equivalent coupon issue yields are 3.94 percent for the 91-day bills, and (6 percent of the amount of 182-day bills bid for at the low price was accepted.) (70 percent of the amount of 91-day bills bid for at the low price was accepted.) T otal Tenders A p p lied for and Accepted (B y Federal Reserve Districts) 91-Day Treasury Bills Maturing May 13,1971 B oston ............................ ........ $ 26,545,000 Applied for Accepted Applied for District 182-Day Treasury Bills Maturing August 12,1971 $ 13,235,000 $ Accepted 12,130,000 $ 2,130,000 New York .................... ........ 2,881,735,000 1,682,465,000 2,180,020,000 Philadelphia .................. ........ 39,880,000 19.880,000 10,650,000 5,450,000 Cleveland ...................... ........ 42,035,000 27,050,000 35,935,000 30,035,000 Richmond ...................... ........ 18,450,000 14,845,000 13,025,000 5,025,000 Atlanta .......................... ........ 48,585,000 21,750,000 32,895,000 14,325,000 C h icago.......................... .......... St. L o u is ........................ .......... 266,570,000 94,010,000 199,095,000 59,940,000 50,945,000 27,045,000 26,165,000 8,685,000 Minneapolis .................. .......... Kansas C i t y .................. ........ 33,520.000 9,990,000 30,460,000 11,260,000 43,345,000 24,065,000 26,145,000 9,645,000 Dallas ............................ ........ 37,995,000 14,595,000 32,340,000 9,840,000 148,440,000 53,090,000 102,505,000 11,565,000 San Francisco .............. T otal .................. .......... $3,638,045,000 $2,002,020,000a $2,701,365,000 1,232,160,000 $1,400,060,000b a Includes $267,760,000 noncompetitive tenders accepted at the average price of 99.028. b Includes $104,795,000 noncompetitive tenders accepted at the average price of 98.059. A l fr e d H ayes, President.
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