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FED ER A L RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States

r
L

Circular No. 7 3 5 0"1
February 27, 1974 J

Results of Treasury’s 46-Day Tax Anticipation Bill Auction
To A ll Incorporated Banks and Trust Companies, and Others
Concerned, in the Second Federal R eserv e D istrict:

The following statement was issued by the Treasury Department and released
at 6:30 p.m., yesterday:
Tenders for $1.5 billion of 46-day T rea su ry tax anticipation bills to be issued M arch 4,
1974, and to mature A pril 19, 1974, were opened at the Federal Reserve Banks today. T he
details are as fo llo w s :
T otal applied fo r ..

$3,757,725,000

T otal accepted ......

$1,500,145,000 (In clu d es $214,825,000 entered on a non­
com petitive basis and accepted in full
at the average price shown below .)

Range of accepted com petitive b id s :
H igh ...............................

99.106

Equivalent rate o f discount approx.
6 .9 9 7 % per annum.

L ow .................................

99.027

Equivalent rate of discount approx.
7 .6 1 5 % per annum

A verage

99.048

Equivalent rate o f discount approx.
7.4 5 0 % per annum 1

........................

1 This is on a bank discount basis. The equivalent coupon issue yeld is 7.63 percent.

(2 4 percent of the amount bid for at the low price was accepted.)
Federal R eserve District

Boston ..................................................................
N ew Y o rk .........................................................

Total applied fo r

$

167,090,000
1,867,855,000

Total accepted

$

140,090,000
265,575,000

Philadelphia ......................................................

76,210,000

26,210,000

Cleveland

...........................................................

91,280,000

64,930,000

R ichm ond ...........................................................

33,275,000

29,475,000

Atlanta ................................................................
Chicago ................................................................

14,515,000
441,480,000

14,015,000
231,580,000

St. L ouis .............................................................
M in n e a p o lis........................................................
Kansas City ......................................................
Dallas .................................................................

36,690,000
554,030,000
181,545,000
26,805,000

28,690,000
465,280,000
180,545,000
26,805,000

San Francisco ..................................................

266,950,000

26,950,000




T

otal

...................................................

$ 3 ,757,725,000

$1,500,145,000

A lfred

H ayes,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102