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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States r Circular No. 6 7 5 6 L June 29, 1971 ~ l J RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS TO BE ISSUED JULY 1, 1971 To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: At the time of printing our Circular No. 6755, dated June 25, 1971, announcing an offering of 91-day and 182-day Treasury bills, to be issued July 8, 1971, the results of bidding for the previous week's offering of 91-day and 182-day Treasury bills, to be issued July 1, 1971, were not available. The results, now available, are: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing September 30,1971 Price High ...................... ............ Low ........................ ............ Average ................ ............ 98.742* 98.675 98.716 182-Day Treasury Bills Maturing December 30,1971 Price 4.977% 5.242% S.080%1 a Excepting one tender of $275,000. Approx. equiv. annual rate 97.372b 97.270 97.332 A pprox. equiv. annual rate 5.198% 5.400% 5.277%" bExcepting one tender of $100,000. 1 These rates are on a bank discount basis. The equivalentcoupon issue yields are 5.23 percent for the 91-day bills, and 5.51 percent for the 182-days bills. (16 percent of the amount of 91-day bills bid for at the low price was accepted.) (49 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 91-Day Treasury Bills Maturing September 30,1971 Applied fo r District T otal Applied fo r Accepted ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ $ 20,935,000 2,408,590,000 33,125,000 29,538,000 12,615,000 35,100,000 161,525,000 52,615,000 23,635,000 22,385,000 27,170,000 90,815,000 $ .................. .......... $2,918,048,000 $2,200,208,000° Boston .......................... New York .................... Philadelphia.................. Cleveland ...................... R ich m on d...................... Atlanta .......................... C h ica g o.......................... St. Louis ...................... Minneapolis .................. Kansas City .................. Dallas .......................... San Francisco .............. 182-Day Treasury Bills Maturing December 30,1971 10,935,000 1,738,590,000 33,125,000 29,538,000 12,615,000 35,100,000 136,525,000 52,615,000 23,635,000 22,385,000 27,170,000 77,975,000 $ Accepted 13,390,000 1,952,490,000 7,840,000 16,330,000 10,835,000 18,645,000 135,290,000 21,555,000 19,090,000 14,640,000 23,890,000 68,940,000 $ $2,302,935,000 3,390,000 1,286,440,000 7,840,000 16,330,000 10,835,000 16,645,000 122,540,000 21,555,000 19,090,000 14,640,000 23,890,000 56,940,000 $1,600,135,000d 0 Includes $241,803,000 noncompetitive tenders accepted at the average price of 98.716. d Includes $115,940,000 noncompetitive tenders accepted at the average price o f 97.332. A lfred H ayes, President.
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