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FE D E R A L R ESER VE BANK O F N EW YORK Fiscal Agent of the United States r Circular N o. 7 3 1 3 T I. December 31, 1973 J Results of Bidding for 91-Day and 183 Day Treasury Bills (To Be Issued January 3, 1974) To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: At the time of printing our Circular No. 7311, dated December 28, 1973, announcing an offering of 91-day and 182-day Treasury bills, to be issued January 10, 1974, the results of bidding for the previous offering of 91-day and 183-day Treasury bills, to be issued January 3, 1974, were not available. The results, now available, are: Range of Accepted Competitive Bids 91 -Day Treasury Bills Maturing April 4, 1974 Price High ................................. .......... Low ................................. .......... Average ..................................... 98.143a 98.116 98.128 183-Day Treasury Bills Maturing July 5, 1974 Approx. equiv. annual rate Approx. equiv. annual rate Price 346% 7.453% 7.406% 1 96.289b 96.239 96.253 7. 7.300% 7.399% 7.371%1 15 Excepting one tender of $120,000. a Excepting one tender of $315,000. 1 1hese rates are on a bank discount basis. The equivalent coupon issue yields are 7.65 percent for the 91-day bills, and 7.76 percent for the 183-day bills. (64 percent of the amount of 91-day bills bid for at the low price was accepted.) (63 percent of the amount of 183-day bills bid for at the low price was accepted.) I otal lenders Applied for and Accepted (By Federal Reserve Districts) 91-Day Treasury Bills Maturing April 4, 1974 District Applied for Boston ........................................ $ 36,045,000 New York .................... ............. 2,862.080,000 Philadelphia .................. ............. 21,310,000 Cleveland ...................... ............. 28,885,000 Richmond ................... ............. 14,720,000 Atlanta ........................................ 18,590,000 Chicago ........................ ............. 203,065.000 St. Louis ...................... ............. 46,885,000 Minneapolis .................. ............. 4,200,000 Kansas City .................. ............. 25.265,000 Dallas ............................. ............. 37,870,000 San Francisco ........................... 98,005,000 T ...................... ............. $3,396,920,000 otal Accepted $ 25,545,000 2,075,970,000 21,310,000 28,885,000 14,720,000 18,590,000 143,885,000 42,885,000 4,200,000 20,265,000 25,150,000 78,645,000 $2,500,050,000c 183-Day Treasury Bills Maturing July 1974 5, Applied for Accepted $ 8,500,000 1,512,060,000 11,105,000 19,935,000 16,330,000 11,605,000 133,695,000 14,730,000 5,380,000 14,925,000 20,385,000 32,280,000 $ 1,800,930,000 d $ 19,500,000 2,533,810,000 31,105,000 31,785,000 20,080,000 13,105,000 173,195,000 33,030,000 5,380,000 19,555,000 36,755,000 90,130,000 $3,007,430,000 c Includes $274,305,000 noncompetitive tenders accepted at the average price. d Includes $140,200,000 noncompetitive tenders accepted at the average price. A lfred H a y e s , President.
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