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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 7 5 0 8 1 November 21, 1974 -* Results of Treasury’ s 134-Day Tax Anticipation 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 $2.25 billion of 134-day Treasury tax anticipation bills to be issued Decem ber 3, 1974, and to mature April 16, 1975, were opened at the Federal Reserve Banks today. The details are as follow s: Total applied for .. $4,904,295,000 Total accepted ..... $2,250,645,000 (Includes $22,745,000 entered on a non competitive basis and accepted in full at the average price shown below.) Range of accepted competitive bids : High ............................. 97.267 Equivalent rate of discount approx. 7.342% per annum. L o w ............................... 97.225 Equivalent rate of discount approx. 7.455% per annum. Average 97.236 Equivalent rate of discount approx. 7.426% per annum.1 ....................... 1 This is on bank discount basis. The equivalent coupon issue yield is 7.74 percent. (56 percent of the amount bid for at the low price was accepted.) Tenders A pplied for and A ccepted (B y Federal Reserve District) Federal R eserve D istrict Boston .................................................. ........ New York .............................................. ........ Philadelphia .......................................... ........ Cleveland .............................................. ........ Richmond .............................................. ........ Atlanta .................................................. ........ Chicago .................................................. ....... St. Louis ................................................ ....... Minneapolis .......................................... ........ Kansas City .......................................... ........ Dallas ..................................................... ....... San Francisco ..................................... ........ T otal ................................... ........ Total applied for $ T otal accepted 31,575,000 3,470,235,000 25,310,000 195,540,000 75,445,000 16,000,000 355,850,000 43,015,000 24,500,000 39,545,000 11,655,000 615,625,000 $ $4,904,295,000 10,695,000 1,676,815,000 20,310,000 90,540,000 36,005,000 12,000,000 83,500,000 40,015,000 16.500,000 15,745,000 3,215,000 245,305,000 $2,250,645,000 A lfred H ayes , President.
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