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F E D E R A L R E S E R V E BANK OF N E W YORK Fiscal Agent of the United States Circular No. 7903 June 28. 1978 Results of Treasury’s 364-Day Bill Auction In All Incorporated Banks and Trust Companic , and Others C o n cern ed , in th e S e c o n d F ed e ra l R e se rv e D is tr n i The following auction results were announced on June 23 by the Treasury Department l enders for $2,591 million of 52-week Treasury bills to be dated June 29, 1976, and to mature June 28, 1977, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids Price High .................................................. Low .................................................. Average ............................................ 93.867a 93.834 93.851 Discount Rate 6.066% 6.098% 6.081% Investment Rate 1 6.45% 6.48% 6.47% 'Equivalent coupon issue yield. a I uepline one lender ot SI ..t(XM)()0. Tenders at the low price were allotted 22 percent. Total Tenders Received and Accepted (By Federal Reserve District) Federal R esene District Received Accepted Boston ........................................ New York ................................... Philadelphia ............................... Cleveland ................................... Richmond .................................. Atlanta ...................................... Chicago ...................................... St. Louis ..................................... Minneapolis ............................... Kansas C ity ................................. Dallas ......................................... San Francisco............................. $ 31,210,000 4,084,920,000 7.220,000 20,335,000 23.195,000 41,040.000 201,560,000 52,695,000 65,580,000 18,035,000 18,035,000 271,120.000 $ 8,010,000 2,283,780,000 3,910,000 5,335,000 5,915,000 17,040,000 100,260,000 39,305,000 26,580,000 13,035,000 5,535,000 82,320,000 Total ................................... $4,834,945,000 $2,591,025,000 The $2,591 million of accepted tenders includes $92 million of noncompetitive tenders from the public and $1,128 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. PAUL A. VOLCKER, President.
@FedFRASER