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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r L Circular No. 7 5 4 January 3, 1975 3 “1 J T o A ll B an kin g In stitu tio n s, and O thers Concerned, in the Second F ederal R eserve D istric t: The following statements have been issued by the T reasury D epartm ent. Statem ents an nouncing the results of the auction of the 4-year 4-month 7j/£% notes of Series D-1979 and the auction of the 15-month 8% notes of Series H -1976 were made public on December 30, 1974 and January 2, 1975, respectively. RESULTS OF AUCTION OF 4-YEAR 4-MONTH TREASURY NOTES (Notes of Series D-1979) The Treasury has accepted $1.25 billion of the $1.8 billion of tenders received from the public for the 4-year 4-month 7 ^ % notes auctioned today [December 30 , 1974 ]. The range of accepted competitive bids was as follows: High ............................................ Low .............................................. Average........................................ P rice A p p ro x . yield 102.20 101.80 101.95 7.27% 7.37% 7.33% The $1.25 billion of accepted tenders includes 17% of the amount of notes bid for at the low price, and $0.1 billion of noncompetitive tenders accepted at the average price. No tenders were received from Government accounts or from Federal Reserve Banks for themselves or as agents of foreign and international monetary authorities. RESULTS OF AUCTION OF 15-MONTH TREASURY NOTES (Notes of Series H-1976) The Treasury has accepted $0.75 billion of the $1.9 billion of tenders received from the public for the 15-month 8 % notes auctioned today [January 2, ip/ j]. The range of accepted competitive bids was as follows: P rice High ............................................ L o w .............................................. Average........................................ 100.911 100.80 100.84 A p p ro x . yield 7.18% 7.27% 7.24% 1 E x ce p tin g four tenders to ta lin g $566,000. The $0.75 billion of accepted tenders includes 19% of the amount of notes bid for at the low price, and $0.2 billion of noncompetitive tenders accepted at the average price. No tenders were received from Government accounts or from Federal Reserve Banks for themselves or as agents of foreign and international monetary authorities. A lfred H a y es , President.
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