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FEDERAL RESERVE BANK O F NEW YORK Fiscal Agent of the United States Circular No. 8003 D ecem ber 2, 1976 RESULTS OF AUCTION OF 4-YEAR 1-MONTH TREASURY NOTES (Notes of Series F-1980) To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued November 30 by the Treasury Department: The Treasury has accepted $2,50^ million of $5,613 million of tenders received from'the public for the U-year 1-month notes, Series F-1980, auctioned today. The range of accepted competitive bids was as follows: Lowest yield..... 5*87$ Highest yield.... 5*92$ Average yield.... 5*91# The interest rate on the notes will be 5-7/8$. At the 5-7/8$ rate, the above yields result in the following prices: Low-yield price..... 100.007 High-yield price.... 99.829 Average-yield price.. 99-86U The $ 2 , 5 0 U million of accepted tenders includes $502 million of noncompetitive tenders and $2,002 million of competitive tenders (including 95% of the amount of notes bid for at the high yield) from private investors. In addition, $180 million of tenders were accepted at the average price from Federal Reserve Banks as agents for foreign and international monetary authorities for new cash. P aul A. V olcker , President.
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