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 non 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.
@FedFRASER