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FED ER A L RESERVE BANK O F NEW YORK Fiscal A gent o f the United States r Circular L No. 7 3 8 7 T M ay 3, 1974 J Results of Treasury’s 52-Week Bill Auction To A ll Incorporated Banks and T rust 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 for $1.8 billion of 52-week Treasury bills to be dated May 7, 1974, and to mature May 6 , 1975, were opened at the Federal Reserve Banks today. The details are as follow s: Range of Accepted Competitive Bids High ... 91.618a Approximate equivalent annual rate 8.290% per annum L o w .... 91.418 Approximate equivalent annual rate 8.488% per annum Average 91.485 Approximate equivalent annual rate 8.421 % per annum1 a Excepting one tender of $20,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 9.13%. (30 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve District) Total applied for Federal R eserve D istrict Boston ...................................................... ....... New Y ork ............................................. ....... Philadelphia ........................................... Cleveland.................................................. Richmond ............................................... A tlanta...................................................... Chicago .................................................... St. Louis .................................................. M inneapolis............................................. Kansas City ........................................... D allas........................................................ San Francisco ....................................... T otal ............................................. ....... $ T otal accepted 21,190,000 2,312,460,000 2,175,000 19,930,000 9,405,000 12,540,000 245,865,000 36,285,000 9,835,000 6,260,000 3,770,000 302,630,000 $ $2,982,345,000 11,190,000 1,347,260,000 2,160,000 16,130,000 4,405,000 6,540,000 134,815,000 26,785,000 9,835,000 6,160,000 3,770,000 231,130,000 $1,800,180,000b b Includes $71,695,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.
@FedFRASER