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FE D E R A L R ESER VE BANK O F NEW YORK
Fiscal Agent of the United States
r Circular No. 6 8 8 6~l
u January 26, 1972 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 6:30 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 October 31, 1971, and the other series to be dated January 31, 1972,
which were offered on January 19, 1972, were opened at the Federal Reserve Banks today. Tenders were
invited for $500,000,000, or thereabouts, of 274-day bills and for $1,200,000,000, or thereabouts, of 366-day
bills. The details of the two series are as follows:
Range of Accepted Competitive Bids

2 y 4-Day Treasury Bills
Maturing October 3 1 , 1972
Approx. equiv.
annual rate

Price

97.052
97.010
97.038

High ....
L o w .....
Average

3.873%
3.928%
3.892%1

366 -Day Treasury Bills
Maturing January 3 1 , 1973
Approx. equiv.
annual rate

Price

96.046a
95.933
95.998

3.889%
4.000%
3.936%1

^Excepting one tender of $505,000.
1These rates are on a bank discount basis. The equivalent coupon issue yields are 4.05 percent for the 274-day bills, and
4.13 percent for the 366-day bills.

(39 percent of the amount of 274-day bills
bid for at the low price was accepted.)

(8 percent of the amount of 366-day bills
bid for at the low price was accepted.)

Total Tenders Applied for and Accepted (By Federal Reserve Districts)

274 -Day Treasury Bills
Maturing October 3 1,19 7 2
District

Boston ...........................
New Y o r k .....................
Philadelphia...................
Cleveland .......................
Richmond .....................
A tlanta...........................
Chicago .........................
St. Louis .......................
Minneapolis ...................
Kansas C ity ...................
Dallas .............................
San F rancisco...............
T o t a l .....................

Applied for

$

10,320,000
1,173,790,000
450,000
1,165,000
3,700,000
13,325,000
92,365,000
31,125,000
2,650,000
11,625,000
22,900,000
142,865,000

$1,506,280,000

Accepted

$

320,000$
466,570,000
450,000
1,165,000
700,000
825,000
12,365,000
7,820,000
650,000
1,625,000
900,000
6,615,000

$ 500,005,000b

366 -Day Treasury Bills
Maturing January 3 1,19 7 3
Applied for

Accepted

15,120,000
$
1,827,530,000
1,105,000
595,000
8,925,000
18,585,000
114,080,000
29,155,000
5,560,000
13,275,000
22,990,000
146,420,000
$2,203,340,000

5,120,000
976,090,000
1,105,000
595,000
6,925,000
15,585,000
55,080,000
24,735,000
3,640,000
10,355,000
4,990,000
95,900,000
$1,200,120,000°

blncludes $12,530,000 noncompetitive tenders accepted at the average price of 97.038.
concludes $18,005,000 noncompetitive tenders accepted at the average price of 95.998.




A

lfred

H

ayes,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102