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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States 1" Circular No. 7714" j September 18. 1975 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: T h e following sta te m e n t was issued S ep tem b er 17 by the T reasu ry D e p a rtm e n t: Tenders for $1,940,000,000 of 52-week Treasury bills to be issued to the public, to be dated September 23, 1975, and to m ature September 21, 1976, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids Price High .............................. ................. L o w ................................ ................. Average ....................... ................. 92.611a 92.568 92.580 Discount Rate Investment Rate 1 7.308% 7.350% 7.338% 7.87% 7.92% 7.90% 1 E quivalent coupon issue yield. ;i E xcepting three tenders totaling $3,000,000. Total Tenders from the Public Received and Accepted (By Federal Reserve District) Federal Rescin’e District A ccepted Received B oston..................... New Y o rk ............... Philadelphia........... C leveland................. Richmond ............... A tla n ta..................... C h ic a g o ................... St. Louis................... M inneapolis............. Kansas C ity............. D allas........................ San Francisco......... $ 102,985,000 3,558,705,000 34,900,000 297,030,000 84,195,000 22,180,000 432,820,000 45,235,000 99,870,000 42,200.000 35,985,000 459,065,000 $ 50,475,000 1,257,720,000 33,900,000 137,360,000 41,195,000 13,805,000 134,950,000 19,235,000 51,870,000 26,180,000 8,585,000 164,895,000 T o tal......... $5,215,170,000 $1,940,170,000 The $1,940,170,000 of accepted tenders includes 33 percent of the amount of bills bid for at the low price and $184,420,000 of noncompetitive tenders from the public accepted at the average price. In addition, $918,035,000 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. PAUL A. VOLCKER, President.
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