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FED ER A L RESERVE BANK O F N EW YORK Fiscal Agent of the United States r Circular No. 7 2 9 6 '1 L December 18, 1973 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued December 20, 1973) T o A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: At the time of printing our Circular No. 7295, dated December 14, 1973, announcing an offering of 91-day and 182-day Treasury bills, to be issued December 27, 1973, the results of bidding for the previous offering of 91-day and 182-day Treasury bills, to be issued December 20, 1973, were not available. The results, now available, are: Range of Accepted Competitive Bids 91 -Day Treasury Bills Maturing March 21, 1974 A p prox. equiv. annual rate Price High ....... ......... Low ....... ......... Average .... ......... 182-Day Treasury Bills Maturing June 20, 1974 98.151 98.134 98.138 7.315% 7.382% 7.366% 1 A p prox. equiv. annual rate Price 7.101% 7.198% 7.164% 1 96.410 96.361 96.378 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 7.61 percent for the 91-day bills, and 7. percent for the 182-day bills. (100 percent of the amount of 182-day bills bid for at the low price was accepted.) (73 percent of the amount of 91-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 91 -Day Treasury Bills Maturing March 21, 1974 District Applied for Accepted 182-Day Treasury Bills Maturing June 20,1974 Accepted Applied for Boston ..... ......... New York ... ......... Philadelphia.. ......... Cleveland .... ......... Richmond ... ......... Atlanta ..... ......... Chicago ..... ......... St. Louis .... ......... Minneapolis .. ......... Kansas City .. ......... Dallas ...... ......... San Francisco ........... $ 37,390,000 3,972,875,000 50,525,000 32,900,000 23,540,000 27,450,000 301,655,000 62,700,000 25,940,000 35,080,000 35,600,000 155,600,000 $ 20,590,000 2,226,760,000 23,675,000 29,310,000 16,860,000 19,445,000 53,615,000 26,280,000 5,345,000 28,360,000 14,400,000 36,490,000 $ 17,370,000 2,451,830,000 9,190,000 40,615,000 17,385,000 21,735,000 172,250,000 65,065,000 27,125,000 25,830,000 35,860,000 158,545,000 $ 7,370,000 1,482,845,000 8,690,000 22,740,000 10,035,000 18,205,000 66,810,000 46,835,000 17,125,000 20,780,000 9,660,000 88,770,000 ......... $4,761,255,000 $2,501,130,000 a $3,042,800,000 $1,799,865,000b T otal ......... a Includes $324,830,000 noncompetitive tenders accepted at the average price, b Includes $172,270,000 noncompetitive tenders accepted at the average price. A lf r e d H ayes, President.
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