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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States ["Circular No. 6 8 6 4 '1 L December 20, 1971 J RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS (TO BE ISSUED DECEMBER 23, 1971) To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: At the time of printing our Circular No. 6863, dated December 17, 1971, announcing an offering of 91-day and 182-day Treasury bills, to be issued December 30, 1971, the results of bidding for the previous offering of 91-day and 182-day Treasury bills, to be issued December 23, 1971, were not available. The results, now available, are: Range of Accepted Competitive Bids pI-D ay Treasury Bills Maturing March 23, 1972 High .................. ...................... Low .................... ...................... Average ............ ....................... 182-Day Treasury Bills Maturing June 22,1972 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 99.004 98.974 98.983 3.940% 4.059% 4.023% 1 97.866 97.837 97.845 4.221% 4.278% 4.263% 1 iT h ese rates are on a bank discount basis. The equivalent coupon issue yields are 4.13 percent for the 91-day bills, ai 4.43 percent for the 182-day bills. (91 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 Applied for and Accepted (By Federal Reserve Districts) 182-Day Treasury Bills Maturing June 22, 1972 91-Day Treasury Bills Maturing March 23, 1972 District Applied for Boston .............. ...................... New York ......... ..................... Philadelphia ..... ..................... Cleveland ........... ..................... Richmond ......... ..................... Atlanta ............... ..................... Chicago ............. ..................... St. Louis ........... ..................... Minneapolis ....... ..................... Kansas C ity ....... ..................... Dallas ................. ..................... ..................... San Francisco $ 41,760,000 2,613,410,000 27,155,000 24,915,000 9,025,000 42,420,000 196,435,000 74,115,000 18,765,000 29,435,000 33,715,000 109,515,000 $ 41,760,000 1,776,510,000 12,155,000 24,915,000 9,005,000 35,420,000 183,165,000 69,075,000 18,765,000 28,345,000 16,535,000 85,080,000 $ ..................... $3,220,665,000 $2,300,730,000a $2,908,685,000 T otal ............ Accepted Applied for Accepted $ 12,535,000 2,215,120,000 3,940,000 21,205,000 10,530,000 35,635,000 162,835,000 62,690,000 12,795,000 12,970,000 29,425,000 329,005,000 2,535,000 1,229,315,000 3,170,000 13,725,000 7,030,000 19,295,000 48,285,000 44,690,000 8,795,000 7,920,000 7,425,000 208,055,000 $1,600,240,000b a Includes $181,100,000 noncompetitive tenders accepted at the average price of 98.983. b Includes $87,295,000 noncompetitive tenders accepted at the average price of 97.845. A lfred H ayes, President.
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