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FED ER A L RESERVE BANK O F N EW YORK Fiscal Agent of the United States r Circular L No. 7 2 9 ST December 13, 1973 J Results of Treasury’s Monthly Bill Offering To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve District: The following statement was issued by the Treasury Department and released at 6 :3 0 p.m., yesterday: Tenders for $1.8 billion of 52-week Treasury bills to be dated December 18, 1973, and to mature December 17, 1974, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids High .................... 93.046 Approximate equivalent annual rate 6.878% per annum Low ..................... 93.013 Approximate equivalent annual rate 6.910% per annum Average .......... 93.043 Approximate equivalent annual rate 6.881% per annum 1 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.36%. (72 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve Districts) Federal Reserve District Total applied for Total accepted Boston.............................................. ............ New York........................................ ............ Philadelphia .................................... ............ Cleveland.......................................... ............ Richmond ........................................ ............ Atlanta ............................................ ............ Chicago ............................................................... ............ St. L ouis.......................................... ............ Minneapolis .................................... ............ Kansas City .................................... ............ Dallas .............................................. ............ San Francisco ............................... ............ $ 29,325,000 2,990,730,000 625,000 8,095,000 9,955,000 7,755,000 310,055,000 38,220,000 920,000 2,910,000 23,940,000 163,320,000 $ .......................................... ............ $3,585,850,000 $1,800,245,000 T o tal 1,325,000 1,639,370,000 625,000 3,005,000 1,455,000 2,055,000 110,900,000 17,020,000 920,000 2,910,000 1,940,000 18,720,000 a Includes $30,695,000 noncompetitive tenders accepted at the average price. A lfred H ayes , President.
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