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FED ER A L RESER VE BANK O F NEW YORK Fiscal Agent o f the United States TCircular No. 7 4 0 2 " ! U May 30, 1974 J Results of Treasury’ s 52-Week Bill Auction To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve District: The following statement was issued by the Treasury Department and released at 6 :3 0 p.m., yesterday: Tenders for $1.8 billion of 52-w eek T reasu ry bills to be dated June 4, 1974, and to mature June 3, 1975, were opened at the Federal R eserve Banks today. T he details are as fo llo w s : R ange o f A cc e p te d C om p etitiv e B ids H igh ............................. 9 1 .7 2 9 a A pproxim ate equivalent annual rate 8 .18 0 % per annum L o w ............................... 91.577 A pproxim ate equivalent annual rate 8 .3 3 0 % per annum A verage 91.660 A pproxim ate equivalent annual rate 8 .2 4 8 % per a n n u m 1 ...................... a Excepting two tenders totaling $1,150,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 8.93%. (9 5 percent o f the amount bid fo r at the low price was accepted.) T en d ers A p p lie d fo r and A cc e p te d (B y F ed era l R eserve D istrict) Federal R eserve District B oston .................................................................. 7 Total applied for $ Total accepted 14,405,000 $ 9,405,000 N ew Y o r k . ....... ........"................................................. Philadelphia ...................................................... 2,078,740,000 28,860,000 1,450,630,000 13,860,000 C lev ela n d ............................................................. 42,620,000 41,570,000 Richm ond ........................................................... 14,565,000 11,565,000 A tla n ta .................................................................. 7,895,000 7,895,000 C hicago ............................................................... St. L o u i s ............................................................. 218,630,000 27,015,000 207,130,000 8,015,000 M in n e a p o lis........................................................ 955,000 955,000 Kansas City ...................................................... 8,715,000 6,715,000 D a lla s .................................................................... 7,065,000 2,065,000 San Francisco .................................................. 79,595,000 40,335,000 ............................................... $2,529,060,000 T o ta l $1,800,140,000b b Includes $65,210,000 noncompetitive tenders accepted at the average price. A lfred H ayes , President.
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