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FEDERAL RESERVE BANK O F N E W YO RK Fiscal Agent of the United States ["circular No. 6985~| |_ August 7,1972 J To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was made public August 4 by the Treasury Department: PRELIMINARY RESULTS OF CURRENT OFFERING T he Treasury today released prelim inary figures w hich show that $1.7 billion o f securities m aturing A ugust 15, 1972, held by the general public will be exchan ged , leaving $0.6 billion, or 27.6%, unexchanged. In addition, $3.3 billion o f securities m aturing from Septem ber to D ecem ber 1972, and $3.1 billion o f securities m aturing in 1974 and 1975, will be exchanged by the general public. On the basis o f the prelim inary figures, a total o f $3.9 billion o f the new 3-1/2-year notes, $3.0 billion o f the new 7-year notes, and $1.1 billion o f the new 12-year bonds, $22 m illion o f which have been sold for cash to individuals, will be issued to the general public. O f the total o f 7-year notes and 12-year bonds to be issued to the general public, foreign m onetary authorities have acquired about 14%. Figures are prelim inary as the subscription books for individuals do not close until today. Follow ing is a sum m ary o f the participation in the refunding, prerefunding, advance refunding, and cash sale o f bonds (am ounts in m illions): E ligible securities Securities to be issued 5 -7 /8 % N otes 2/76 By general public 6 -1 /4 % N otes 8/79 6-3/8% Bonds 8/84 Total Refunding 5% N otes 8 / 7 2 ................................................ . . 4% Bonds 8 / 7 2 ................................................ Subtotal ..................................................... $ 1,100 1,204 $ 2,304 $ 728 624 $1,352 $ $ 1,774 2,148 2,272 $ 6,194 $1,109 649 803 $ $2,561 $ $ 4,301 1,530 3,357 1,945 $11,133 — — — — $ $ 124 109 233 $ $ 15 69 84 $ 867 802 $1,669 Prerefunding 2-1/2% Bonds 9 / 7 2 ....................................... . . 6% Notes 1 1 / 7 2 .............................................. 2-1/2% Bonds 1 2 / 7 2 .................................... S u b t o t a l..................................................... 147 193 177 517 $ 81 47 63 $ 191 $ 1,337 889 1,043 $3,269 A dvance refunding 5-3/4% N otes 1 1 /7 4 ...................................... 3-7/8% B onds 1 1 / 7 4 .................................... 5-3/4% Notes 2 / 7 5 ......................................... 5-7/8% Notes 2 / 7 5 ......................................... S u b t o t a l..................................................... Sale f o r ca sh ................................... T o t a l ............................................................ . . $19,631 — 801 344 593 547 $ 2 ,2 8 5 __ __ $3,913 $3,035 $ 230 98 250 250 $ 828 $1,031 442 843 797 $3,113 $ 22 $1,125 $ 22 $8,073 (Over) Eligible securities Securities to be issued 5 -7 /8 % N otes 2/76 6-1/4% N otes 8/79 6-3/8% B onds 8 /84 Total By F ederal Reserve Banks and G overnm ent A ccounts R efunding 5% N otes 8 / 7 2 ...................... ............................. 4% Bonds 8 / 7 2 ...................... ............................. S u b t o t a l.......................... ............................. $ 1,474 249 $ 1,723 $ 977 51 $1,028 — $ 488 12 $ 500 $ $ 183 183 $ 1,465 246 $ 1,711 $ 140 $ 154 $ 139 379 Prerefunding ............................. ............................. ............................. ............................. — — — $ $ 177 137 275 589 — $ 55 $ ............................. ............................. ............................. ............................. ............................. $ 2,911 706 1,791 100 $ 5,508 — — $ $ — — — T o t a l .................................. ............................. $ 7,820 Grand T o t a l................... ............................. $27,451 2-1/2% Bonds 9 / 7 2 ............ 6% Notes 1 1 / 7 2 ................... 2-1/2% Bonds 1 2 / 7 2 .......... S u b t o t a l.......................... $ 14 86 — 41 98 324 86 Advance refunding 5-3/4% Notes 1 1 /7 4 ............ 3-7/8% Bonds 1 1 / 7 4 .......... 5-3/4% N otes 2 / 7 5 .............. 5-7/8% N otes 2 / 7 5 .............. S u b t o t a l.......................... 415 3% 71 — $ 304 168 201 — 719 564 272 _ 882 $ 673 $ 1,555 $1,028 $1,437 $1,180 $ 3,645 $4,941 $4,472 $2,305 $11,718 ALFRED HAYES, President.
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