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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r Circula r L No. 6 9 1 0 ~I M arch 2, 1972 J Results of Treasury’s Offer of $3 Billion Strip of Weekly Bills To A ll Incorporated B anks and T ru st Companies, and Others Concerned, in the Second Federal Reserve D istrict: T h e follow ing statem en t w as issued by the T re a su ry D ep artm en t and released a t 6 :3 0 p.m. yesterday : The Treasury Department announced that tenders for additional amounts of fifteen series of Treasury bills to an aggregate amount of $3,000,000,000, or thereabouts, to be issued March 6, 1972, which were offered on February 24, 1972, were opened at the Federal Re serve Banks today. The amount of accepted tenders will be equally divided among the fifteen issues of outstanding Treasury bills maturing March 30, April 6, April 13, April 20, April 27, May 4, May 11, May 18, May 25, June 1, June 8, June 15, June 22, June 29 and July 6, 1972. The details of the offering are as follows : Total applied for .... $6,365,800,000 Total accepted ....... $3,000,300,000 (Includes $152,175,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of Accepted Competitive Bids : Price High .................................... Low ...................................... Average .............................. A pprox. equiv. annual rate of discount based on 73 days (average number of days to m aturity) 99.327a 99.301 99.309 3.319% 3.447% 3.408%1 aExcepting one tender of $900,000. !This is on a bank discount basis. The equivalent coupon issue yield is 3.48 percent. (41 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve Districts) Federal Reserve D istrict T otal applied for Boston ............................ .... New York .................................... Philadelphia ...................................... Cleveland ........................................... Richmond ........................................... Atlanta ................................................ Chicago ............................................. St. Louis ........................................... Minneapolis ....................................... Kansas City ....................................... Dallas ................................... San Francisco ................................... $ 313,950,000 2,890,425,000 269,100,000 188,325,000 56,250,000 115,950,000 754,725,000 105,225,000 697,950,000 250,500,000 73,950,000 649,425,000 $ 247,125,000 976,500,000 153,600,000 79,950,000 9,000,000 93,225,000 330,825,000 72,300,000 655,875,000 247,500,000 40,875,000 93,525,000 ..... ................................ .... $6,365,775,000 $3,000,300,000 T otal T otal accepted A l fr ed H a y e s , President.
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