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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States C irc u la r N o. 7 9 5 8 S e p te m b e r 17, 19 7 6 Results of Treasury’s 364-Day Bill Auction To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following auction results were announced on September 15 by the Treasury Department: Tenders for $2,860 million of 52-week Treasury bills to be dated September 21, 1976, and to mature September 20, 1977, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids High ........................... .................... Low ........................... .................... Average .......................................... Price Discount Rate Investment Rate.1 94.389a 94.368 94.377 5.549% 5.570% 5.561% 5.87% 5.90% 5.89% 1E q u i v a l e n t c o u p o n - i s s u e y ie ld . a E x e e p t i n g o n e t e n d e r o f $ 5 , 4 2 0 , (XX). Tenders at the low price were allotted 47 percent. Total Tenders Received and Accepted (By Federal Reserve District) Federal Reserve District Received Accepted Boston ................................... New York ............................. Philadelphia .......................... Cleveland ............................. Richmond ............................. Atlanta ................................. Chicago ................................. St. Louis ............................... Minneapolis .......................... Kansas City........................... Dallas ................................... San Francisco......................... $ 39,185,000 5,232,365,000 24,895,000 104,640,000 72,010,000 30,435,000 417,275,000 45,480,000 56,135,000 14,250,000 11,000,000 350,620,000 $ 6,655,000 2,657,035,000 1,895,000 4,640,000 29,465,000 9,135,000 74,245,000 17,715,000 14,135,000 7,195,000 3,000,000 36.110,000 Total ............................... $6,398,290,000 $2,861,225,000 The $2,861 million of accepted tenders includes $76 million of noncompetitive tenders from the public and $948 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.
@FedFRASER