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FED ER A L RESER VE BANK OF N EW YORK Fiscal Agent of the United States r C ircu lar N o . 7 2 0 6~I L A u g u s t 9 , 1 9 73 J Results of Treasury’s Offer of $2.0 Billion of September Tax Bills To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: 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 $2,000,000,000, or thereabouts, of 35-day Treasury tax anticipation bills to be dated August 15, 1973, and to mature Septem ber 19, 1973, which were offered on July 25, 1973, were opened at the Federal Reserve Banks today. The details of this issue are as follows: Total applied for .. $3,879,675,000 Total accepted ..... $2,000,225,000(Includes $142,075,000 entered on a non competitive basis and accepted in full at the average price shown below.) Range of accepted competitive bids: High ................... 99.091 Equivalent rate of discount approx. 9.350% per annum Low ................... 99.022 Equivalent rate of discount approx. 10.059% per annum A verage............... 99.047 Equivalent rate of discount approx. 9.802% per annum1 1 This is on a bank discount basis. The equivalent coupon issue yield is 10.03 percent. (47 percent of the amount bid forat the low price was accepted.) Federal Reserve District Boston ........................................................ New York ................................................ Philadelphia .............................................. Cleveland ................................ ................. Richmond .................................................. Atlanta ...................................................... Chicago ...................................................... St. L o u is .................................................... Minneapolis .............................................. Kansas City .............................................. Dallas ........................................................ San Francisco ......................................... Total .......................................... Total applied for Total accepted $ 181,545,000 2,078,900,000 132,700,000 160,100,000 20,745,000 44,770,000 588,310,000 19,900,000 209,950,000 68,640,000 2,655,000 371,460,000 $ 116,045,000 627,400,000 92,400,000 75,100,000 20,745,000 19,270,000 482,810,000 15,250,000 209,950,000 67,140,000 2,655*000 271,460,000 $3,879,675,000 $2,000,225,000 A lfred H ayes, President.
@FedFRASER