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FED ER A L RESERVE BANK OF NEW YORK Fiscal Agent of the United States C irc u la r N o. 7940 A u g u st 20, 1976 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 fo llo w in g a u c tio n r e su lts w ere a n n o u n c e d on A u g u st 18 by th e T r e a su r y D e p a r tm e n t: Tenders for $2,900 million of 52-week Treasury bills to be dated August 24, 1976, and to mature August 23, 1977, were opened at the Federal Reserve Banks today. T h e d etails are as follows: Range of Accepted Competitive Bids Price High .................................................... Low .................................................... Average .............................................. 94.337a 94.289 94.304 Discount Rate Investment Rate 1 5.601% 5.648% 5.633% 5.93% 5.98% 5.97% 1 Equivalent coupon-issue yield. aExcepting one tender of $1,950,000. Tenders at the low price were allotted 77 percent. Total Tenders Received and Accepted (By Federal Reserve District) Boston ........................................ New York .................................. Philadelphia .............................. Cleveland .................................. Richmond .................................. Atlanta ...................................... Chicago ...................................... St. Louis .................................... Minneapolis .............................. Kansas C ity ................................ Dallas ........................................ San F ran cisco ............................ Total .................................. Accepted R eceived Federal R e se r v e District $ 29,140,000 3,702,470,000 67,140,000 104,770,000 41,135,000 5,025,000 460,270,000 39,170,000 63,730,000 19,145,000 29,210,000 315,820,000 $4,877,025,000 $ 23,140,000 2,210,970,000 40,140,000 94,770,000 17,135,000 5,025,000 186,470,000 28,480,000 53,730,000 13,145,000 10,210,000 216,820,000 $2,900,035,000 The $2,900 million of accepted tenders includes $97 million of noncompetitive tenders from the public and $673 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 $50 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.
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