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FE D E R A L R ESER VE BANK OF N EW YORK Fiscal Agent of the United States • I" Circular No. August 23, 1973 J l 7 2 1 7 ~1 Results of Treasury’s Monthly Bill Offering 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: Tenders for $1.8 billion of 52-week Treasury bills to be dated August 28, 1973, and to mature August 27, 1974, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids High ................... 91.555a Approximate equivalent annual rate 8.352% per annum Low ..................... 91.483 Approximate equivalent annual rate 8.423% per annum Average ............... 91.519 Approximate equivalent annual rate 8.388% per annum1 a Excepting one tender of $1,200,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 9.09 percent. (91 percent of the amount bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) Federal Reserve District Boston ........................... ....... New York ................................... ....... ....... Philadelphia .............. Cleveland ........................... ....... Richmond ............ Atlanta ................................... Chicago ....................... ....... St. Louis ........................................... ....... Minneapolis ........................ Kansas City ...................................... Dallas ........................ San Francisco .................................. Total .................................. ....... Total accepted Total applied for $ $ 30,240,000 2,401,155,000 19,365,000 28,485,000 11,900,000 8,120,000 261,650,000 57,570,000 30,160,000 18,100,000 32,835,000 157,790,000 5,240,000 1,455,210,000 4,365,000 17,285,000 8,400,000 7,575,000 166,970,000 26,710,000 13,160,000 13,040,000 10,335,000 71,980,000 $1,800,270,0Q0 $3,057,370,000 b Includes $118,220,000 noncompetitive tenders accepted at the average price. A lfred H ayes , President.
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