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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States 1"Circular No. 7 0 4 7 ~1 L November 30, 1972 J Results of Treasury’s Offer of $2.5 B illion of June Tax Bills To A ll Incorporated B anks and T rust Companies, and Others Concerned, in the Second Federal Reserve D istrict: The following statem ent was issued by the T reasury D epartm ent and released at 6:30 p.m., yesterday: The Treasury Department announced that the tenders for $2,500,000,000, or thereabouts, of 199-day Treasury tax anticipation bills to be dated December 5, 1972, and to mature June 22, 1973, which were offered on November 22, 1972, were opened at the Federal Reserve Banks today. The details of this issue are as follows: Total applied for .. $5,069,960,000 Total accepted ..... $2,500,660,000 (Includes $376,910,000 entered on a non competitive basis and accepted in full at the average price shown below.) Range of accepted competitive bids: High ................... 97.236 Equivalent rate of discount approx. 5.000% per annum L o w ..................... 97.167 Equivalent rate of discount approx. 5.125% per annum Average............... 97.187 Equivalent rate of discount approx. 5.089% per annum 1 1This is on a bank discount basis. The equivalent coupon issue yield is 5.30 percent. (70 percent of the amount bid for at the low price was accepted.) Total applied for Total accepted Boston ........................................................ New York ................................................ Philadelphia .............................................. Cleveland .................................................. Richmond .................................................. Atlanta ...................................................... Chicago ...................................................... St. L o u is ....... ........................................... Minneapolis .............................................. Kansas City ....................... ...................... Dallas ........................................................ San Francisco ......................................... $ 286,650,000 2,294,800,000 144,110,000 146,500,000 38,960,000 91,580,000 664,380,000 83,455,000 547,155,000 192,240,000 127,200,000 452,930,000 $ 153,050,000 596,300,000 88,610,000 131,500,000 36,360,000 62,080,000 420,380,000 63,255,000 547,155,000 190,140,000 48,200,000 163,630,000 Total ............................................ $5,069,960,000 $2,500,660,000 Federal Reserve D istrict A lfred H a y es, President.
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