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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States p Circular No. 7 7 4 5 1 L October 31, 1975 J R E SU LT S O F T R E A SU R Y N O T E AND BO N D A U C TIO N S T o A ll Banking Institutions, and O thers Concerned, in the Second Federal R eserve D istric t: The following statements have been issued by the T reasury Department. The statements announcing the results of the auction of the 7-year T reasury Notes of Series C-1982 and the 24-year 9-month T reasury Bonds of 1995-2000 were made public on October 29 and October 30, respectively. RESULTS OF AUCTION OF 7-YEAR TREASURY NOTES (Notes of Series C-1982) The Treasury has accepted $2.5 billion of the $4.4 billion of tenders received from the public for the 7-year notes, Series C-1982, auctioned today [October <?p]. The range of accepted competitive bids was as follows: Lowest yield ................................. 7.87% a Highest y ie ld ................................. 7.95% Average y ie ld ................................. 7.92% The interest rate on the notes will be 7 ^ % . At the 7 j^% rate, the above yields result in the following prices: Low-yield price ........................... 100.027 High-yield price ......................... 99.603 Average-yield p ric e .................... 99.762 The $2.5 billion of accepted tenders includes 15% of the amount of notes bid for at the highest yield and $0.4 billion of noncompetitive tenders accepted at the average yield. In addition, $0.4 billion of tenders were accepted at the average-yield price for Government accounts and Federal Reserve Banks. a E xceptin g five tenders totaling $2,941,000. RESULTS OF TREASURY BOND AUCTION (Bonds of 1995-2000) The Treasury has accepted $1.0 billion of the $2.2 billion of tenders received from the public for the 24-year 9-month 8 ^ % bonds auctioned today [October jo J.T h e range of accepted competitive bids was as follows: Price H i g h ................................. Low ................................. Average ........................... 101.73 101.34 101.50 A pprox. yield to first callable date A pprox. yield to maturity 8.19% 8.23% 8.22% 8.21% 8.24% 8.23% The $1.0 billion of accepted tenders includes 17% of the amount of bonds bid for at the low price, and $0.1 billion of noncompetitive tenders accepted at the average price. In addition, $0.2 billion of tenders were accepted at the average price for Government accounts and Federal Re serve Banks. P a u l A. V o lc k e r, President.
@FedFRASER