View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States

r C ircular

No. 7 4 2
July 24, 1974

L

5 "I
J

Results of Federal Financing Bank Bill Auction
T o A ll Banking Institutions, and O thers
Concerned, in the Second Federal R eserve D istrict:

The following statement was issued by the Federal Financing- Bank and released
at 6 :3 0 p.m., yesterday:
T enders fo r $1.5 billion o f 244-day Federal Financing Bank bills to be dated July 30, 1974,
and to mature M arch 31, 1975, were opened at the Federal R eserve Banks today. T h e details
are as fo llo w s :
T otal applied for ..

$4,320,060,000

T otal accepted ......

$1,500,010,000

(In clud es $137,200,000 entered on a nonĀ­
com petitive basis and accepted in full at
the average price shown below .)

Range o f accepted com petitive b id s :
H igh .............................

94.676a

Equivalent rate o f discount approx.
7 .855% per annum.

L ow

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

94.480

Equivalent rate o f discount approx.
8.1 4 4 % per annum.

A verage ......................

94.545

Equivalent rate o f discount approx.
8 .0 4 8 % per annum.1

a Excepting one tender of $10,000.
1 This is on a bank discount basis. The equivalent coupon issue yield is 8.54 percent.

(3 9 percent of the amount bid for at the low price was accepted.)

Federal R eserve D istrict

Boston

............................................................... $

Total applied fo r

Total accepted

113,375,000

$

52,975,000

N ew Y o rk ...........................................................
Philadelphia ......................................................

2,739,020,000
87,690,000

1,165,720,000
48,990,000

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

114,885,000
76,210,000

8,475,000
8,200,000

Atlanta

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

19,430,000

3,680,000

Chicago ...............................................................

660,600,000

62,340,000

St. L o u i s .............................................................

21,605,000

5,405,000

Minneapolis ......................................................
Kansas City ......................................................

74,905,000
59,990,000

29,705,000
24,870,000

Dallas ..................................................................
San Francisco .................................................

32,045,000
320,305,000

12,045,000
77,605,000

...................................................$4,320 ,0 6 0 ,0 0 0

$1,500,010,000




T

otal

A

lfred

H

ayes

,

President.

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