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FED ER A L R ESER VE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 7 1 0 4~i L February 23, 1973 -I Results of Treasury’s Monthly Bill Offering T o A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve 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 $1,800,000,000, or thereabouts, of 349-day Treasury bills to be dated February 28, 1973, and to mature February 12, 1974, which were offered on February 15, 1973, were opened at the Federal Reserve Banks today. The details of this issue are as follow s: Range of Accepted Competitive Bids High ................... 94.203 Approximate equivalent annual rate 5.980% per annum L o w ..................... 94.107 Approximate equivalent annual rate 6.079% per annum Average ............. 94.134 Approximate equivalent annual rate 6.051 % per annum 1 1 This is on a bank discount basis. The equivalent coupon issue yield is 6.42 percent. (19 percent of the amount bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) Federal R eserve D istrict Boston ................................................ ....... New York ........................................ ....... Philadelphia ...................................... Cleveland ......................................... ........ Richmond .......................................... Atlanta ...................................................... Chicago .............................................. ....... St. Louis ............................................ ....... Minneapolis ......................... ....... Kansas City ..................................... ....... Dallas ............................................... ....... San Francisco ................................. Total ................................. ....... T otal accepted Total applied for $ 62,385,000 2,530,485,000 10,880,000 63,075,000 35,225,000 4,410,000 332,505,000 25,780,000 6,355,000 24,505,000 29,590,000 129,225,000 $3,254,420,000 $ 31,385,000 1,428,430,000 880,000 48,075,000 18,225,000 4,410,000 207,005,000 18,780,000 355,000 18,405,000 6,590,000 18,225,000 $1,800,765,000 a Includes $27,765,000 entered on a noncompetitive basis and accepted in full at the average price shown above. A lfred H ayes, President.
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