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FED ER A L RESER VE BANK O F NEW YORK Fiscal Agent of the United States r Circular No. 7 3 7 3 1 U A pril 4, 1974 J Results of Treasury’s 52-Week Bill Auction T o A ll Incorporated Banks and Trust Companies, and Others 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 for $1.8 billion of 52-week Treasury bills to be dated April 9, 1974, and to mature April 8, 1975, were opened at the Federal Reserve Banks today. The details are as follow s: Range of Accepted Competitive Bids High .... 92.083 a Approximate equivalent annual rate 7.830% per annum L o w ..... 91.963 Approximate equivalent annual rate 7.949% per annum Average 92.026 Approximate equivalent annual rate 7.886% per annum 1 a E xcepting tw o tenders totaling $300,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 8.51%. (47 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve District) Federal R eserve D istrict Total applied for Boston ...................................................... ....... New Y ork ............................................. ....... Philadelphia ........................................... Cleveland................................................. Richmond ............................................... A tlan ta...................................................... Chicago .................................................... St. Louis ................................................. M inneapolis............................................. Kansas City ........................................... D allas.................................. San Francisco ....................................... T otal ............................................. ....... $ T otal accepted $ 21,405,000 2,583,800,000 16,585,000 26,485,000 15,710,000 9,730,000 330,845,000 34,700,000 11,380,000 13,230,000 20,360,000 116,640,000 $3,200,870,000 3,405,000 1,443,380,000 1,585,000 19,485,000 2,610,000 8,130,000 241,820,000 14,210,000 3,380,000 9,730,000 6,300,000 46,380,000 $l,800,415,000b b Includes $50,880,000 noncompetitive tenders accepted at the average price. A l fr e d H ayes, President.
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