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FED ER A L RESER VE BANK O F NEW YORK Fiscal A gen t of the U nited States r Circular No. 7 3 2 0*1 L January 10, 1974 -J Results of Treasury’s Monthly Bill Offering To A ll Incorporated Banks and Trust Companies, and O thers Concerned, in the Second Federal R eserve D istrict: The following statement was issued by the Treasury Department and released at 6:30 p.m., yesterday: Tenders fo r $1.8 billion of 52-week T reasu ry bills to be dated January 15, 1974, and to mature January 14, 1975, were opened at the Federal R eserve Banks today. T h e details are as fo llo w s: Range of Accepted Competitive Bids H ig h ...................... 93.038 A pp roxim ate equivalent annual rate 6 .8 8 5 % per annum L ow ...................... 92.905 A pp roxim ate equivalent annual rate 7 .0 1 7 % per annum A verage ............... 92.975 A pproxim ate equivalent annual rate 6 .9 4 8 % per an n u m 1 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.44%. (6 3 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve Districts) Federal R eserve D istrict Total accepted Total applied for B o s t o n ................................. ........ N ew Y o r k ............................ ........ 2,422,845,000 Philadelphia ............................ C lev e la n d ...................... $ 26,870,000 $ 10,870,000 1,278,925,000 ........ 26,215,000 1,215,000 ........ R ichm ond ............................................... ........ A tlanta .................................................... ........ 18,280,000 56,180,000 3,230,000 25,275,000 9,975,000 C hicago .................................................... ........ St. L o u i s ........................................................... M inneapolis ........................................... ........ 178,445,000 31,305,000 36,930,000 87,945,000 15,295,000 Kansas City ........................................... ........ Dallas ...................................................... ........ 21,695,000 23,910,000 San F rancisco T otal ...................................... . ............................................. ........ 46,430,000 31,930,000 16,695,000 7,910,000 351,630,000 289,630,000 $3,219,580,000 $ 1 ,800,050,000: a Includes $55,460,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.
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