Full text of Federal Reserve Bank of New York Circulars : 7885. Results of Treasury's 364-Day Bill Auction

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FE D ER AL R E SE R V E BANK
O F N E W YORK
Fiscal Agent of the United States
r CircutarNo. 7 8 8 5 * ]

L

May 27, 1976

Results of Treasury's 364-Day Bill Auction
To

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The following auction results were announced yesterday by the Treasury Depart­
ment :
Tenders for $2,900 million of 52-week Treasury bills to be dated June 1, 1976, and to
mature May 31, 1977, were opened at the Federal Reserve Banks today.
The details are as follows:
Range of Accepted Competitive Bids

High ................................ .............
Low .................................. .............
Average .......................... ............

Price
93.652
93.593
93.621

DLcOMHt
Pate
6.278%
6.337%
6.309%

/ave^t^aeat
Pate i
6.69%
6.75%
6.72%

t Equivalent coupon issue yield.

Tenders at the low price were allotted 50 percent.
Total Tenders Received and Accepted
(By Federal Reserve District)
Federal Pc-fcrre District
Boston ................
New York ..........
Philadelphia ......
Cleveland ...........
Richmond ...........
Atlanta ...............
Chicago ...............
St. Louis .............
Minneapolis .......
Kansas City .......
Dallas .................
San Francisco ....
TOTAL ............

Peecit'cd
$ 49,130,000
3.480.720,000
26,800,000
107,760,000
29,720,000
6,655,000
336,925,000
27,075,000
29,270,000
10,240,000
14,295,000
241,395,000

created
$ 38,130,000
2,488,220,000
11,800,000
52,760,000
4,720,000
5,655,000
176,925,000
11,075,000
19,270,000
6,240,000
4,295,000
81,395,000

$4,359,985,000

$2,900,485,000

The $2,900 million of accepted tenders includes $75 million of noncompetitive tenders
from the public and $785 million of tenders from Federal Reserve Banks for themselves and
as agents of foreign and international monetary authorities accepted at the average price.
An additional $20 million of the bills will be issued to Federal Reserve Banks as agents
of foreign and international monetary authorities for new cash.




P A U L A . VOLCKER,

J