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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r L Circular No. 7512 November 27, 1974 I J Results of Treasury’ s 194-Day Tax Anticipation Bill Auction T o 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 $1.25 billion o f 194-day Treasury tax anticipation bills to be issued Decem ber 5, 1974, and to mature June 17, 1975, were opened at the Federal Reserve Banks today. The details are as follow s: Total applied for .. $2,476,010,000 Total accepted ..... $1,250,790,000 (Includes $25,310,000 entered on a non competitive basis and accepted in full at the average price shown below.) Range of accepted competitive b id s: H igh ............................. 96.000 Equivalent rate of discount approx. 7.423% per annum. L o w ............................... 95.916 Equivalent rate of discount approx. 7.579% per annum. Average ....................... 95.947 Equivalent rate of discount approx. 7.521% per annum.1 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.93 percent. (54 percent of the amount bid for at the low price was accepted.) Tenders A pp lied for and A ccepted (B y Federal Reserve District) Federal R eserve D istrict ................................................... ........ New Y ork .............................................. ..... . Philadelphia .......................................... ........ Cleveland .............................................. ........ Richmond .............................................. ........ Atlanta ................................................... ........ Chicago ................................................... ........ St. Louis ................................................ ........ Minneapolis .......................................... ........ Kansas City .......................................... ........ Dallas ..................................................... ........ San Francisco ...................................... ........ Boston T otal ............................................ ........ Total applied for $ T otal accepted $ 17,775,000 1,717,835,000 25,975,000 50,795,000 555,000 4,040,000 195,255,000 21,255,000 44,365,000 75,440,000 665,000 322,055,000 $2,476,010,000 5,775,000 747,115,000 25,975,000 50,795,000 555,000 3,240,000 164,655,000 13,255,000 41,865,000 46,140,000 665,000 150,755,000 $1,250,790,000 A lfred H ayes , President.
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