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FED ER AL RESERVE BANK OF N EW YORK Fiscal Agent of the United States [" Circular No. 6 8 2 9 1 L November 3, 1971 -* RESULTS OF B ID D IN G FO R 91-DAY A N D 182-DAY T R E A S U R Y B ILLS (T O BE ISSUED N O V E M B E R 4,1971) To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The results of bidding for the offering of 91-day and 182-day Treasury bills to be issued November 4, 1971 are as follows: Range of Accepted Competitive Bids 9 1 -Day Treasury Bills Maturing February 3 , 1972 High ............................ L o w ............................. Average ...................... 182 -Day Treasury Bills Maturing May 4, 1972 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 98.940 98.928 98.930 4.193% 4.241% 4.233%* 97.822a 97.801 97.803 4.308% 4.350% 4.346%1 a Excepting one tender of $300,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 4.35 percent for the 91-day bills, and 4.52 percent for the 182-day bills. (63 percent of the amount of 91-day bills bid for at the low price was accepted.) (66 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders A pplied for and Accepted (By Federal Reserve Districts) 9 1 -Day Treasury Bills Maturing February 3, 1972 District Applied for Boston ......................... ........... New York ................... ........... Philadelphia ............... ........... Cleveland ..................... ........... Richmond ................... ........... Atlanta ......................... ........... Chicago ....................... ........... St. Louis ..................... ........... Minneapolis ................. ........... Kansas City ................. ........... Dallas ........................... ........... San Francisco ............. ........... T otal ......................... ........... $ 30,195,000 3,200,000,000 33,205,000 36,730,000 10,255,000 34,010,000 211,320,000 73,120,000 32,650,000 36,600,000 37,405,000 218,490,000 $3,953,980,000 182 -Day Treasury Bills Maturing May 4, 1972 Accepted $ 19,500,000 1,852,130,000 18,205,000 32,595,000 10,255,000 19,880,000 103,485,000 41,270,000 23,650,000 33,235,000 14,905,000 132,100,000 $2,301,210,000b Applied for $ 13,480,000 2,437,155,000 6,360,000 23,540,000 3,985,000 23,290,000 180,275,000 46,325,000 29,365,000 18,485,000 31,155,000 213,070,000 $3,026,485,000 Accepted $ 3,450,000 1,383,555,000 6,360,000 12,105,000 3,985,000 9,790,000 59,975,000 16,995,000 15,025,000 11,485,000 9,975,000 68,770,000 $1,601,470,000c Includes $239,770,000 noncompetitive tenders accepted at the average price of 98.930. cIncludes $91,740,000 noncompetitive tenders accepted at the average price of 97.803. A lfred H a y e s , President.
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