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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States r Circular No. 7 2 5 4~1 L October 18, 1973 -I 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 October 23, 1973, and to mature October 22, 1974, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids H ig h ....................... 92.799 Approximate equivalent annual rate 7.122% per annum Low ....................... 92.779 Approximate equivalent annual rate 7.142% per annum Average ................ 92.789 Approximate equivalent annual rate 7.132% per annum1 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.65 percent. (92 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 applied for $ Total accepted 25,970,000 3,285,370,000 27,185,000 14,000,000 21,930,000 15,870,000 401,045,000 64,570,000 28,040,000 12,870,000 25,205,000 353,600,000 $ 2,570,000 1,463,605,000 1,910.,000 4,000,000 3,130,000 2,870,000 22,385,000 18,420,000 1,040,000 5,370,000 2,705,000 272,190,000 $1,800,195,000 $4,275,655,000 a Includes $48,425,000 noncompetitive tenders accepted at the average price. A lfred H ayes , President.
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