Full text of Federal Reserve Bank of New York Circulars : 7370. Results of Treasury Note Auction

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FED ERA L RESERVE BANK
O F NEW YORK
Fiscal A gent o f the United States

Circular No. 7370 "1
March 29, 1974

J

RESULTS OF TREASURY NOTE AUCTION

To All Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

The following statement was made public March 28 by the Treasury Department:

The Treasury has accepted $1.5 billion o f the $1.7 billion o f tenders received from the pu blic for
the 2-year 8 percent notes auctioned today. T he range o f accepted com petitive bids was as follow s:

Price

H i g h .............................. 100. l l a
L o w ................................
99.76
Average .......................
99.85

Approx. yield

7.94%
8.13%
8.08%

aExcepting 4 tenders totaling $553,000.

The $1.5 billion o f tenders accepted from the public includes 9 percent o f the am ount o f notes bid
for at the low price, and $455 million o f noncom petitive tenders accepted at the average price. In
addition, G overnm ent A ccounts were awarded $35 million.




ALFRED HAYES,

President.