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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 7 2 8 4'1 u December 5, 1973 -I Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued December 6, 1973) T o A ll Incorporated Banks and Trust Companies, and O thers Concerned, in the Second Federal R eserve D istrict: At the time of printing our Circular No. 7281, dated December 4, 1973, announcing an offering of 91-day and 182-day Treasury bills, to be issued December 13, 1973, the results of bidding for the previous offering of 91-day and 182-day Treasury bills, to be issued December 6, 1973, were not available. The results, now available, are: Range of Accepted Competitive Bids 91-Day Treasury B ills Maturing March 7, 1974 P rice High .................. ...................... Low .................. ....................... Average ............ ....................... 182-Day Treasury Bills Maturing June 6, 1974 A p p rox. equiv. annual rate 98.175 98.122 98.140 A p p rox. equiv. annual rate P rice 7.647% 7.801% 7.766% 1 96.134a 96.056 96.074 7 .220 % 7.429% 7.358% 1 a Excepting on<; tender of $10,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields ;are 7.60 percent for the 91-day bills, and 8, percent for the 182-day bills. (22 percent of the amount of 91-day bills bid for at the low price was accepted.) (33 percent of the amount of 182-day bills bid for at the low price was accepted.) lotal Tenders Applied for and Accepted (By Federal Reserve Districts) 182-Day Treasury Bills Maturing June 6, 1974 91-Day Treasury Bills Maturing March 7, 1974 District Applied for A ccepted Boston .............. ...................... New York ........ ...................... Philadelphia ...... ...................... Cleveland .......... ...................... Richmond ........ ...................... Atlanta .............. ...................... Chicago ............ ...................... St. Louis .......... ...................... Minneapolis ...... ...................... Kansas City ...... ...................... Dallas ................ ...................... San Francisco ...................... $ 47,680,000 2,897,170,000 47,395,000 41,445,000 20,200,000 27,230,000 239,555,000 54,365,000 50,130,000 29,850,000 39,640,000 92,155,000 $ ........ ....................... $3,586,815,000 $2,500,165,000 b T otal 36,930,000 1,929,670,000 47,395,000 41,445,000 20,200,000 27,230,000 180,655,000 51,865,000 50,130,000 29,850,000 33,640,000 51,155,000 A ccepted Applied for $ $ 18,835,000 2,462,025,000 7,855,000 23,250,000 30,100,000 18,050,000 271,580,000 49,425,000 25,510,000 24,835,000 43,035,000 122,590,000 $3,097,090,000 8,835,000 1,468,625,000 7,855,000 17,950,000 21,100,000 15,650,000 127,360,000 30,925,000 19,510,000 17,635,000 27,365,000 37,230,000 $ 1,800,040,000c b Includes $335,380,000 noncompetitive tenders accepted at the average price, c Includes $161,470,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.
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