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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States r Circular No. 7 6 9 2 " ! L August 22, 1975 J Results of Treasury’s 364-Day Bill Auction To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued August 20 by the Treasury Department: Tenders for $2,210 million of 52-week Treasury bills to be issued to the public, to be dated August 26, 1975, and to mature August 24, 1976, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids Discount Rate Price Investment Rate 1 High .............. ....... 92.620a 7.299% 7.86% Low .............. ....... 92.570 7.348% 7,91% Average ........... ....... 92.588 7.331% 7.89% 1 Equivalent coupon issue yield. a Excepting three tenders totaling $1,020,000. Total Tenders from the Public Received and Accepted ( B y Federal Reserve District) Federal Reserve District Accepted Received Boston ................. ......... N e w Y o r k .............. ......... Philadelphia ............ ......... Cleveland .............. ......... Richmond .............. ......... Atlanta ................ ......... Chicago ................ ......... St. Louis............... ......... Minneapolis ............ .......... Kansas City ............ .......... Dallas ................. .......... San Francisco..................... $ 140,155,000 4,426,835,000 28,120,000 276,080,000 87,850,000 17,245,000 782,740,000 55,105,000 108,665,000 33,105,000 28,980,000 453,220,000 $ T o t a l ........................... ......... $6,438,100,000 $2,210,250,000 46,605,000 1,585,880,000 3,120,000 113,080,000 20,100,000 13,145,000 267,720,000 11,105,000 35,665,000 20,605,000 6,980,000 86,245,000 The $2,210,250,000 of accepted tenders includes 23 percent of the amount of bills bid for at the low price and $189,070,000 of noncompetitive tenders from the public accepted at the average price. In addition, $679,165,000 of tenders were accepted at the average price from Government accounts and from Federal Reserve Banks for themselves and as agents of foreign and inter national monetary authorities. P a u l A. V o l c k e r , President.
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