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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States Circular No. 7193 | July 25, 1973 J [ TREASURY ANNOUNCES AUGUST FINANCING P L A N S To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was m ade public today by the Treasury Departm ent: The Treasury today announced plans for refinancing securities maturing on August 15, $4.7 billion of which are held by the general public. The new securities will consist o f $2.0 billion of 7-3/4% 4-year Treasury notes, $0.5 billion of 7-1/2% 20-year bonds callable in 15 years, and $2.0 billion of 35-day September tax anticipation bills. The new securities will be sold by competitive bidding. Noncompetitive tenders will also be accepted in specified amounts. Tenders for the notes will be received until 1:30 p.m., Eastern Daylight Saving time, on Tuesday, July 31. They will be an additional issue o f the 7-3/4% notes of Series B-1977, dated August 15, 1970, due August 15, 1977. Noncompetitive tenders from individuals and others will be accepted in amounts of $500,000 or less. Tenders for the bonds will be received until 1:30 p.m., Eastern Daylight Saving time, on Wednesday, August 1. The bonds will be dated August 15, 1973, and will mature August 15, 1993, callable by the Treasury on and after August 15, 1988. Noncompetitive tenders from individuals and others will be accepted in amounts of $250,000 or less. The bills will be auctioned on Wednesday, August 8. They will mature September 19, 1973, but may be used at face value in payment o f Federal income taxes due on September 15. Noncompetitive tenders from individuals and others will be accepted in amounts of $500,000 or less. As in the last two bond auctions, awards for the bonds will be made by the “ uniform-price” method, in which all accepted tenders are awarded bonds at the lowest accepted price. Awards in the note and bill auctions will be made at the price specified in accepted tenders. # Qualified depositaries may make payment for 50% of the amount of tax anticipation bills allotted by credit to Treasury Tax and Loan Accounts. Payment for the notes and bonds may not be made by credit to Treasury Tax and Loan Accounts. Payment for all three issues must be made on Wednesday, August 15. In addition to the holdings by the general public, Federal Reserve and Government accounts hold $1 billion o f the-securities maturing on August 15. Additional amounts of the new notes and bonds will be issued to those accounts in exchange for their existing holdings. The official offering circulars and tender form s will be mailed to you as soon as possible. ALFRED H AYES, President.
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