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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 7 0 2 4 1 L October 25, 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 D istrict: 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 July 31, 1972, and the other series to be dated October 31, 1972, which were invited on October 18, 1972, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-day bills and for $1,800,000,000, or thereabouts, of 357-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 2y3 -Day Treasury Bills Maturing July 3 1 , 1973 Price H ig h .................... ................ Low .................... ................ Average .............. ................ Approx. equiv. annual rate 96.068 96.023 96.039 5.185% 5.244% 5.223%! 357-Day Treasury Bills Maturing October 23,1973 Approx. equiv. annual rate Price 94.744 94.695 94.726 5.300% 5.350% 5.318%! 1These rates are on a bank discount basis. The equivalent coupon issue yields are 5.46 percent for the 273-day bill; 5.62 percent for the 357-day bills. (100 percent of the amount of 273-day bills bid for at the low price was accepted.) (44 percent of the amount of 357-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 273-Day Treasury Bills Maturing July 3 1 , 1973 D istrict Applied for Boston ............... ........... New York ......... ........... Philadelphia....... . Cleveland ............ Richmond .......... Atlanta ................ Chicago .............. St. Louis ............ Minneapolis ........ Kansas C ity ........ Dallas .................. San Francisco . .. T otal ............... $ 25,060,000 1,460,225,000 485,000 995,000 21,345,000 2,365,000 150,000,000 16,215,000 18,865,000 11,690,000 32,650,000 70,945,000 $1,810,840,000 357-Day Treasury Bills Maturing October 23, 1973 Accepted Applied for 60,000 362,225,000 485,000 995,000 11,345,000 365,000 57,500,000 10,215,000 3,865,000 1,690,000 2,650,000 48,945,000 $ 78,010,000 2,726,865,000 19,750,000 26,470,000 15,375,000 6,550,000 280,845,000 15,595,000 16,890,000 16,640,000 13,860,000 114,825,000 $ $500,340,000a $3,331,675,000 $1,800,630,000b $ Accepted 13,010,000 1,549,965,000 3,750,000 11,470,000 10,255,000 1,990,000 119,520,000 9,595,000 10,890,000 4,640,000 3,860,000 61,685,000 ^Includes $12,555,000 noncompetitive tenders accepted at the average price of 96.039. ^Includes $28,335,000 noncompetitive tenders accepted at the average price of 94.726. A lfred H a yes, President.
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