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FED ERAL RESERVE BANK O F N E W YORK Fiscal Agent of the United States r Circular No. 7 1 1 6~1 L March 28, 1973 J Results of Treasury’s Monthly Bill Offering T o A ll In corporated Banks and Trust Companies, and O thers 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 346-day Treasury bills to be dated March 31, 1973, and to mature March 12, 1974, which were offered on March 21, 1973, were opened at the Federal Reserve Banks today. The details of this issue are as follows: Range of Accepted Competitive Bids High ................... 93.741 Approximate equivalent annual rate 6.512% per annum Low ................... 93.606 Approximate equivalent annual rate 6.653% per annum Average ............. 93.642 Approximate equivalent annual rate 6.615% per annum1 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.05 percent. (100 percent of the amount bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) F ederal R eserv e D istrict Boston ........................................................ New York ................................................ Philadelphia .............................................. Cleveland .................................................. Richmond .................................................. Atlanta ...................................................... Chicago ...................................................... St. L o u is .................................................... Minneapolis .............................................. Kansas City .............................................. Dallas ........................................................ San Francisco .......................................... Total .......................................... T otal applied fo r $ T otal accepted 15,910,000 2,529,865,000 18,125,000 3,365,000 31,735,000 10,660,000 184,320,000 42,070,000 24,110,000 17,915,000 24,220,000 118,770,000 $ $3,021,065,000 910,000 1,547,865,000 2,125,000 3,365,000 13,705,000 3,660,000 90,320,000 28,070,000 16,110,000 7,885,000 13,220,000 72,745,000 $1,799,980,000 a a Includes $44,280,000 entered on a noncompetitive basis and accepted in full at the average price shown above. A lfred H ayes, President.
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