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FE D ERAL RESERVE BANK
O F N E W YO RK
Fiscal Agent of the United States

r Circular No. 7 2 6 7 "
1

L November 12, 1973 J

R e s u lt s o f T r e a s u r y ’ s O f f e r o f $ 1 .1

B illio n

S tr ip o f W e e k l y

B i lls

To All Incorporated Banks and Trust Companies, and Others
Concerned, in the Second Federal Reserve District:

T he follow ing statement was issued N ovem ber 9 by the T reasury D epartm ent:
Tenders for additional amounts of eleven series of Treasury bills to an aggregate amount
of $1,100,O X
C ),000, or thereabouts, to be issued November 14, 1973, were opened at the Fed­
eral Reserve Banks today. The amount of accepted tenders will be equally divided among
the eleven issues of outstanding Treasury bills maturing November 23, November 29, De­
cember 6 , December 13, December 20, and December 27, 1973; January 3, January 10, January
17, January 24, and January 31, 1974.
The details of the offering are as follows :
Range of Accepted Competitive Bids

Price

H ig h ........................................
Low ........................................
Average .................................

Approx. equiv. annual rate
of discount based on 43.1 days (average
number of days to maturity)

98.977
98.953
98.962

8.545%
8.745%
8 .6 7 0 % 1

1 This is on a bank discount basis. The equivalent coupon issue yield is 8.88 percent.

(32 percent of the amount bid for at the low price was accepted.)
Tenders Applied for and Accepted (By Federal Reserve Districts)
Federal Reserve District

Boston...........................................................
New Y o rk .....................................................
Philadelphia .................................................
Cleveland
.............
Richmond .....................................................

Total applied for

$

Total accepted

55,110,000
1,567,830,000
5,610,000
16,830,000
165,000

$

11,110,000
824,725,000
110,000
5,830,000
165,000

Atlanta .........................................................
Chicago .........................................................

—
140,030,000

114,070,000

St. Louis.......................................................
Minneapolis ................................................
Kansas City .................................................
Dallas
- San Francisco ............................................

3,300,000
220,000
660,000
220,000
363,000,000

220,000
660,000
220,000
143,000,000

T otal ..........................................

$2,152,975,000

$1,100,110,0 00a

a Includes $2,255,000 noncompetitive tenders accepted at the average price.




A

lfred

H

ayes,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102