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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 74921 October 30, 1974 J L Results of Treasury’ s 227-Day Bill Auction To A ll Incorporated Banks and Trust 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 $1.5 billion of 227-day Treasury bills to be dated November 4, 1974, and to mature June 19, 1975, were opened at the Federal Reserve Banks today. The details are as follow s: Range o f A ccepted Com petitive Bids High ........................... 95.021a Approximate equivalent annual rate 7.896% per annum L o w ............................. 94.987 Approximate equivalent annual rate 7.950% per annum Average ..................... 94.998 Approximate equivalent annual rate 7.933% 1 per annum a Excepting two tenders totaling $20,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 8.40%. (100 percent of the amount bid for at the low price was accepted.) Tenders A pplied for and Accepted (B y Federal Reserve District) Federal R eserve D istrict Boston ................................................... ......... New Y ork .................................................... Philadelphia .................................................. Cleveland ............................................ .......... Richmond ............................................ .......... Atlanta ................................................ .......... Chicago ................................................ .......... St. L o u is .............................................. .......... M inneapolis.......................................... .......... Kansas City ........................................ .......... Dallas ................................................... .......... San Francisco .................................... .......... T otal ......................................... Total accepted Total applied for .......... $ $ 7,120,000 2,476,010,000 62,000,000 136,125,000 33,350,000 2,970,000 458,325,000 38,650,000 32,335,000 6,045,000 14,825,000 591,685,000 $3,859,440,000 3,120,000 962,465,000 24,400,000 54,125,000 4,450,000 2,660,000 83,575,000 9,050,000 1,085,000 2,035,000 1,825,000 351,685,000 $1,500,475,000 b Includes $48,505,000 noncompetitive tenders accepted at the average price. A lfred H a yes , President.
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