The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK O F N EW YORK Fiscal Agent of the United States r Circular No. 6 7701 L July 28, 1971 J RESULTS OF T R E A S U R Y ’ S 9-M ONTH AND 12-M ONTH BILL OFFERINGS To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: T he fo llo w in g statement was issued by the T reasury Department and released at 6 :3 0 p.m. yesterd a y: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated April 30, 1971, and the other series to be dated July 31, 1971, which were offered on July 21, 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 366-day bills. The details of the two series are as follow s: Range of Accepted Competitive Bids 272-Day Treasury Bills Maturing April 30, 1972 Approx. equiv. annual rate Price Approx. equiv. annual rate Price 5.840% 6 .000% 5.953% 1 94.063a 93.900 93.948 5.835% 5.980% 5.944% 1 95.591 95.482 95.509 High ........................... L o w ............................. Average .................... 366-Day Treasury Bills Maturing July 31, 1972 a Excepting two tenders totaling $430,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 6.26 percent for the 272-day bills, and 6.34 percent for the 366-day bills. (9 percent of the amount of 272-day bills bid for at the low price was accepted.) (35 percent of the amount of 366-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (B y Federal Reserve Districts) 272-Day Treasury Bills Maturing April 30, 1972 District Applied for Boston ...................... ....... New Y ork ............... ....... Philadelphia............. Cleveland ................. Richmond ............... Atlanta ...................... Chicago .................... St. Louis ................. Minneapolis ............. Kansas C it y ............. Dallas ........................ San Francisco ......... T otal .................. ....... 366-Day Treasury Bills Maturing July 31, 1972 Applied for Accepted 190,000 1,357,030.000 545,000 865,000 5,585,000 19,835,000 71,990,000 8,160.000 17,245,000 8,975.000 23,665,000 67,965,000 $ 190,000 414,980,000 545,000 865,000 1,585,000 15,835,000 27,990,000 7,160,000 8,745,000 4,975,000 3,665,000 13,965,000 $ $1,582,050,000 $ 500,500,000 b $2,297,935,000 $ Accepted 22,550,000 1,906,585,000 2,665,000 15,995,000 11,015,000 16,740,000 162,940,000 15,220,000 14,260,000 15,065,000 24,365,000 90,535,000 $ 9,300,000 993,085,000 2,665,000 15,995,000 3,015,000 12,740,000 94,690,000 14,220,000 10,610,000 15,065,000 8,365,000 20,585,000 $1,200,335,000c b Includes $16,020,000 noncompetitive tenders accepted at the average price of 95.509. c Includes $45,420,000 noncompetitivt tenders accepted at the average price of 93.948. A lfred H ayes, President.
@FedFRASER