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FEDERAL RESERVE BANK
OF NEW YORK

Fiscal Agent of the United States
r Circular No. 7 9 8 8 1
L November 10, 1976 J

Results of Treasury’s 364-Day Bill Auction
To A ll Incorporated Banks and T rust Companies, and Others
Concerned, in the Second Federal R c sc n ’c D istrict:

The following auction results were announced yesterday by the Treasury Depart­
ment :
Tenders for $3,245 million of 52-week Treasury bills to be dated November 15, 1976,
and to mature November 15, 1977, were opened at the Federal Reserve Banks today.
The details are as follows :
Range of Accepted Competitive Bids
Price

Investm ent
Rate 1

94.738a
94.718
94.727

H ig h .............................. ..................
Low .............................. ..................
Average ........................ ..................

Discount
Rate

5.190%
5.210%
5.201%

5.48%
5.50%
5.49%

1 Equivalent coupon-issue yield.

a Excepting two tenders totaling $2,920,000.
Tenders at the low price were allotted 13 percent.
Total Tenders Received and Accepted
F.R. District land C.S. Treasury)

Received

Boston ..........................................
New Y ork....................................
Philadelphia ................................
Cleveland ....................................
Richmond ....................................
Atlanta ........................................
Chicago ........................................
St. Louis ......................................
Minneapolis ................................
Kansas City ................................
Dallas ..........................................

$ 25,740,000
4,495,605,000
5,935,000
16,975,000
9,745,000
3,270,000
256,285,000
42,065,000
29,115,000
12,460,000
14,250,000
308,420,000

San Francisco..........................
U.S. Treasury........................
Total ....................................

Accepted

$

10,740,000
2,973,745,000
935,000
1,975,000
3,310,000
2,970,000
70,585,000
15,065,000
29,115,000
8,025,000
13,380,000
115,670,000

30,000

30,000

$5,219,895,000

$3,245,545,000

The $3,246 million of accepted tenders includes $56 million of noncompetitive tenders from
the public and $994 million of tenders from Federal Reserve Banks for themselves and as
agents of foreign and international monetary authorities accepted a the average price.
t
An additional $150 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.

V olcker,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102