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FED ER AL RESERVE BANK O F N EW YORK Fiscal Agent of the United States f Circular No. 6 8 4 4 1 L November 24, 1971 J RESULTS OF TREASURY’S 9-MONTH AND 12-MONTH BILL OFFERINGS To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following- statement was issued by the Treasury Department and released at 6 :3 0 p.m. yesterday: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated August 31, 1971, and the other series to be dated November 30, 1971, which were offered on November 17, 1971, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 275-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 275 -Day Treasury Bills Maturing August 3 1 , 1972 Price High .................. ................. L o w .................... ................ Average ............ ................. 96.528a 96.488 96.501 366 -Day Treasury Bills Maturing November 30, 1972 Approx. equiv. annual rate Price Approx. equiv. annual rate 4.540% 4.619% 4.563%! 95.384b 95.304 95.361 4.545% 4.598% 4.581%! b Excepting one tender of $56C a Excepting one tender of $60,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 4.79 percent for the 275-day bills, 4.81 percent for the 366-day bills. (18 percent of the amount of 366-day bills bid for at the low price was accepted.) (77 percent of the amount of 275-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 366 -Day Treasury Bills Maturing November 30, 1972 275 -Day Treasury Bills Maturing August 3 1 , 1972 District Applied for Boston .............. ............ New York ........ ............ Philadelphia...... ............ Cleveland .......... ............ Richmond ........ ............. Atlanta .............. ............ Chicago ............ ............. St. Louis .......... ............. Minneapolis ................... Kansas C ity ................... Dallas ............... .............. San Francisco T otal ........................ Accepted Applied for Accepted 10,150,000 1,293,490,000 8,790,000 310,000 375,000 10,675,000 79,095,000 17,165,000 7,110,000 15,515,000 23,300,000 62,320,000 $ 150,000 453,890,000 790,000 310,000 375,000 1,175,000 28,095,000 2,435,000 610,000 7,515,000 800,000 4,000,000 $ $1,528,295,000 $500,145,000c $2,098,545,000 $ 10,745,000 1,766,610,000 950,000 10,230,000 21,405,000 11,675,000 136,205,000 20,240,000 5,720,000 14,245,000 23,650,000 76,870,000 $ 745,000 1,044,610,000 950,000 10,230,000 6,405,000 2,765,000 78,205,000 10,240,000 720,000 8,245,000 1,150,000 35,770,000 $1,200,035,000d c Includes $16,565,000 noncompetitive tenders accepted at the average price of 96.501. d Includes $23,750,000 noncompetitive tenders accepted at the average price of 95.361. A lfred H ayes , President.
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