Full text of Federal Reserve Bank of New York Circulars : 8042. Treasury Announces February Quarterly Financing

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FED ER A L RESERVE BANK
O F NEW YORK

FiscalAgent ofthe United States

Circular N o. 80421
January 27, 1977J

TREASURY ANNOUNCES FEBRUARY QUARTERLY FINANCING

To A ll Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

The following statem ent was issued yesterday by the Treasury Department:

The Treasury will raise about $3,700 million of new cash and refund $2,068 million of securities maturing
February 15, 1977, by issuing $3,000 million of 3-year notes, $2,000 million of 7-year notes, and $750 million of
30-year bonds.
The $2,068 million of maturing securities to be refunded in the general offering are those held by the
public. Government accounts and Federal Reserve Banks, for their own accounts, hold $3,095 million of
maturing securities that may be refunded by issuing additional amounts of new securities. Additional amounts
of the notes and the bonds may also be issued, for new cash only, to Federal Reserve Banks as agents for foreign
and international monetary authorities.
Printed on the reverse side is a table sum m arizing the highlights o f the offering. Copies o f the official
offering circular will be furnished upon request.
Bidders subm itting noncom petitive tenders should realize that it is possible that the average
price may be above par, in which case they would have to pay more than the face value for the
securities.
If paym ent is m ade by check, the check should be a certified personal check or an official bank check,
payable on its face to the Federal Reserve Bank o f New York; checks endorsed to this Bank will not be
accepted.
E nclosed is a copy o f the forms to be used in subm itting tenders. If there is any doubt that tenders
sent by m ail will reach this Bank or its Branch in tim e, bidders should use other m eans o f transm itting
their tenders.
A recorded m essage (at the Head O ffic e -T e l. No. 212-791-5823; at the B uffalo B ran ch -T el. No.
716-849-5046) provides inform ation about this and other Treasury offerings; additional inquiries regarding
this offering may be m ade by calling T elephone No. 212-791-6619 or 212-791-5465.

PAUL A. VOLCKER,

President.

(O ver)

HIGHLIGHTS OF TREASURY
OFFERING TO THE PUBLIC
FEBRUARY 1977 REFUNDING
TO BE ISSUED FEBRUARY 15, 1977

3-Year Notes

7-Year Notes

30 - Year Bonds

Amount Offered:
$2,000 million

$750 million

Term and type of security................... . 3-year notes

7-year notes

30 - year bonds

Series and CUSIP designation........... • Series G -1980
(CUSIP No. 912827 GK2)

Series A-1984
(CUSIP No. 912827 G L0)

Bonds of 2002-2007
(CUSIP No. 912810 BX5)

Maturity d a te ......................................... . February 15, 1980

February 15, 1984

February 15, 2007

Call d a te .................................................. . No provision

No provision

February 15, 2002

Interest coupon r a t e ............................ . To be determined, based on the
average of accepted bids

To be determined, based on the
average of accepted bids

Investment yield..................................... . To be determined at auction

To be determined at auction

Premium or discount............................ . To be determined after auction

To be determined after auction

Interest payment d a te s ........................ . August 15 and February 15

August 15 and February 15

Minimum denomination available... . $5,000

$1,000

Method of sa le ....................................... . Yield auction

Yield auction

Accrued interest payable by investor. . None

None

Preferred allotm ent.............................. . Noncompetitive bid for
$1,000,000 or less

Noncompetitive bid for
$1.000,000 or less

Noncompetitive bid for
$1,000,000 or less

Deposit requirem ent............................ . 5% of face amount

5% of face amount

Deposit guarantee by designated
institutions......................................... . Acceptable

Acceptable

Deadline for receipt of tenders........... • Tuesday, February 1, 1977
by 1:30 p.m., EST

Thursday. February 3, 1977
by 1:30 p.m., EST

Friday, February 4, 1977
by 1:30 p.m., EST

Settlement date (final payment due)
a) cash or Federal fu n d s ............... • Tuesday, February 15, 1977

Tuesday, February 15, 1977

b) check drawn on bank within
FRB district where submitted .. . Thursday, February 10, 1977

Thursday, February 10, 1977

c) check drawn on bank outside
FRB district where submitted .. . Wednesday, February 9, 1977

Wednesday, February 9, 1977

Tuesday, February 15, 1977

Friday, February 18, 1977

To the p u b lic......................................... . $3,000 million

Description of Security:

Terms of Sale:

Key Dates:

Delivery date for coupon securities . . . Tuesday, February 15, 1977

UNITED STATES OF AMERICA
TREASURY NOTES OF FEBRUARY 15, 1980
SERIES G-1980

DEPARTMENT CIRCULAR
Public Debt Series — No. 2-77

INVITATION FOR TENDERS

1.1 The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders for $3,000,000,000, or thereabouts, of
securities of the United States, designated Treasury
Notes of February 15, 1980, Series G-1980 (CUSIP No.
912827 GK2). The securities will be sold at auction with
bidding on the basis of yield. Payment will be required
at the price equivalent of the bid yield of each accepted
tender. The interest rate on the securities and the price
equivalent of each accepted bid will be determined as
set forth below. Additional amounts of these securities
may be issued in exchange for maturing Treasury securi
ties, to Government accounts and Federal Reserve Banks
for their own account and, for cash, to Federal Reserve
Banks as agents of foreign and international monetary
authorities.
2. DESCRIPTION OF SECURITIES
2.1 The securities will be dated February 15, 1977,
and will bear interest from that date, payable on a
semiannual basis on August 15, 1977, and each 6 months
thereafter on February 15 and August 15 until the
principal becomes payable. They will mature February
15, 1980, and will not be subject to call for redemption
prior to maturity.
2.2 The income derived from the securities is
subject to all taxes imposed under the Internal Revenue
Code of 1954. The securities are subject to estate, in
heritance, gift or other excise taxes, whether Federal or
State, but are exempt from all taxation now or hereafter
imposed on the principal or interest thereof by any State,
or any of the possessions of the United States, or by any
local taxing authority.
2.3 The securities will be acceptable to secure
deposits of public moneys. They will not be acceptable in
payment of taxes.
2.4 Bearer securities with interest coupons attached,
and securities registered as to principal and interest,
will be issued in denominations of $5,000, $10,000,
$100,000 and $1,000,000. Book-entry securities will be
available to eligible bidders in multiples of those
amounts. Interchanges of securities of different denom
inations and of coupon, registered and book-entry
securities, and the transfer of registered securities will be
permitted.
2.5 The securities will be subject to the general reg
ulations of the Department of the Treasury governing
United States securities, now or hereafter prescribed.

DEPARTMENT OF THE TREASURY,
Office of the Secretary,
Washington, January 27, 1977.

SALE PROCEDURES

3.1 Tenders will be received at Federal Reserve
Banks and Branches and at the Bureau of the Public
Debt, Washington, D.C. 20226, up to 1:30 p.m., Eastern
Standard time, Tuesday, February 1, 1977. Non
competitive tenders, as defined below, will be considered
timely if postmarked no later than Monday, January 31,
1977.
3.2 Each tender must state the face amount of
securities bid for, which must be $5,000 or a multiple
thereof. Competitive tenders must show the yield desired,
expressed in terms of an annual yield with two decimals,
e.g., 7.11%. Common fractions may not be used. Non
competitive tenders must show the term “noncompeti
tive” on the tender form in lieu of a specified yield. No
bidder may submit more than one noncompetitive
tender, and the amount may not exceed $1,000,000.
3.3 Commercial banks, which for this purpose are
defined as banks accepting demand deposits, and
primary dealers, which for this purpose are defined as
dealers who make primary markets in Government
securities and report daily to the Federal Reserve Bank of
New York their positions with respect to Government
securities and borrowings thereon, may submit tenders
for account of customers, provided the names of the
customers and the amount for each customer are
furnished. Others will not be permitted to submit tenders
except for their own account.
3.4 Tenders will be received without deposit for
their own account from commercial banks and other
banking institutions; primary dealers, as defined above;
Federally-insured savings and loan associations; States
and political subdivisions or instrumentalities thereof;
public pension and retirement and other public funds;
international organizations in which the United States
holds membership, foreign central banks and foreign
states; Federal Reserve Banks; and Government
accounts. Tenders from others must be accompanied by
a deposit of 5% of the face amount of securities applied
for (in the form of cash, maturing Treasury securities or
readily collectible checks), or by a guarantee of such de
posit by a commercial bank or a primary dealer.
3.5 Immediately after the closing hour, tenders
will be opened, following which public announcement
will be made of the amount and yield range of accepted
bids. Subject to the reservations expressed in Section 4,
noncompetitive tenders will be accepted in full at the

[Ref. Cir. No. 8042 I

(Over)

average price (in three decimals) of accepted competitive
tenders, and competitive tenders with the lowest yields
will be accepted to the extent required to attain the
amount offered. Tenders at the highest accepted yield
will be prorated if necessary. After the determination is
made as to which tenders are accepted, a coupon rate will
be determined at a 1/8 of one percent increment that
translates into an average accepted price close to 100.000
and a lowest accepted price above the original issue
discount limit of 99.250. That rate of interest will be paid
on all of the securities. Based on such interest rate, the
price on each competitive tender allotted will be deter
mined and each successful competitive bidder will be
required to pay the price equivalent to the yield bid.
Price calculations will be carried to three decimal places
on the basis of price per hundred, e.g., 99.923, and the
determinations of the Secretary of the Treasury shall be
final. If the amount of noncompetitive tenders received
would absorb all or most of the offering, competitive
tenders will be accepted in an amount sufficient to pro
vide a fair determination of yield. Tenders received from
Government accounts and Federal Reserve Banks will be
accepted at the average price of accepted competitive
tenders.
3.6
Those submitting competitive tenders will be
advised of the acceptance or rejection thereof. Those
submitting noncompetitive tenders will not be notified
except when the tender is not accepted in full or when the
price is over par.
4. RESERVATIONS
4.1 The Secretary of the Treasury expressly re
serves the right to accept or reject any or all tenders in
whole or in part, to allot more or less than the amount of
securities specified in Section 1, and to make different
percentage allotments to various classes of applicants
when he deems it to be in the public interest, and the
Secretary’s action in any such respect shall be final.
5.

PAYMENT AND DELIVERY

5.1 Settlement for securities allotted hereunder
must be made or completed on or before Tuesday, Feb
ruary 15, 1977, at the Federal Reserve Bank or Branch,
or the Bureau of the Public Debt, wherever the tender
was submitted. Payment must be in cash; in other funds
immediately available to the Treasury; in Treasury bills,
notes or bonds (with all coupons detached) maturing on
or before the settlement date but which are not overdue
as defined in the general regulations governing United
States securities; or by check drawn to the order of the
institution to which the tender was submitted, which
must be received at such institution no later than:
(a) Thursday, February 10, 1977, if the check is
drawn on a bank in the Federal Reserve District of the
institution to which the check is submitted (the Fifth
Federal Reserve District in case of the Bureau of the
Public Debt), or
(b) Wednesday, February 9, 1977, if the check is
drawn on a bank in another Federal Reserve District.
Checks received after the dates set forth in the preceding
sentence will not be accepted unless they are payable at
the applicable Federal Reserve Bank. Payment will not
be deemed to have been completed where registered
securities are requested if the appropriate identifying
number as required on tax returns and other documents
submitted to the Internal Revenue Service (an individ

ual’s social security number or an employer identifica
tion number) is not furnished. When payment is made in
securities, a cash adjustment will be made to or required
of the bidder for any difference between the face amount
of securities presented and the amount payable on the
securities allotted.
5.2 In every case where full payment is not com
pleted on time, the deposit submitted with the tender, up
to 5 percent of the face amount of securities allotted,
shall, at the discretion of the Secretary of the Treasury,
be forfeited to the United States.
5.3 Registered securities tendered as deposits and
in payment for securities allotted hereunder are not re
quired to be assigned if the new securities are to be regis
tered in the same names and forms as appear in the
registrations or assignments of the securities surren
dered. Specific instructions for the issuance and delivery
of the new securities, signed by the owner or his autho
rized representative, must accompany the securities pre
sented. Otherwise, the presented securities should be
assigned by the registered payees or assignees thereof in
accordance with the general regulations governing
United States securities, as hereinafter set forth. When
the new securities are to be registered in names and
forms different from those in the inscriptions or assign
ments of the securities presented, the assignment should
be to “The Secretary of the Treasury for (securities
offered herein) in the name of (name and taxpayer
identifying number).” If new securities in coupon form
are desired, the assignment should be to “The Secretary
of the Treasury for coupon (securities offered herein) to
be delivered to (name and address).” Securities tendered
in payment should be surrendered to the Federal Reserve
Bank or Branch or to the Bureau of the Public Debt,
Washington, D.C. 20226. The securities must be de
livered at the expense and risk of the holder.
5.4 If bearer securities are not ready for delivery on
the settlement date, purchasers may elect to receive
interim certificates. These certificates shall be issued in
bearer form and shall be exchangeable for the securities
offered herein, when such securities are available, at any
Federal Reserve Bank or Branch, or at the Bureau of the
Public Debt, Washington, D.C. 20226. The interim
certificates must be returned at the risk and expense of
the holder.
5.5 Delivery of securities in registered form will be
made after the requested form of registration has been
validated, the registered interest account has been
established and the securities have been inscribed.
6. GENERAL PROVISIONS
6.1 As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
tenders, to make such allotments as may be prescribed
by the Secretary of the Treasury, to issue such notices as
may be necessary, to receive payment for and make
delivery of securities on full-paid allotments, and to issue
interim certificates pending delivery of the definitive
securities.
6.2 The Secretary of the Treasury may at any time,
or from time to time, prescribe supplemental or
amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal
Reserve Banks.
W. MICHAEL BLUMENTHAL,

Secretary of the Treasury.

UNITED STATES OF AMERICA
TREASURY BONDS OF 2002-2007

DEPARTMENT CIRCULAR
Public Debt Series—No. 4-77

1. INVITATION FOR TENDERS

DEPARTM ENT OF TH E TREASURY,
Office of the Secretary,

Washington, January 27, 1977.

securities, and the transfer of registered securities will be
permitted.
2.5
The securities will be subject to the general reg
ulations of the Department of the Treasury governing
United States securities, now or hereafter prescribed.

1.1
The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders for $750,000,000, or thereabouts, of
securities of the United States, designated Treasury
Bonds of 2002-2007 (CUSIP No. 912810 BX5). The
3. SALE PROCEDURES
securities will be sold at auction with bidding on the basis
of yield. Payment will be required at the price equivalent
3.1 Tenders will be received at Federal Reserve
of the bid yield of each accepted tender. The interest rate
Banks and Branches and at the Bureau of the Public
on the securities and the price equivalent of each
Debt, Washington, D.C. 20226, up to 1:30 p.m., Eastern
accepted bid will be determined as set forth below. Addi
Standard time, Friday, Februray 4, 1977. Noncompetitive
tional amounts of these securities may be issued in
tenders as defined below will be considered timely if
exchange for maturing Treasury securities, to Govern
postmarked no later than Thursday, February 3, 1977.
ment accounts and Federal Reserve Banks for their own
3.2 Each tender must state the face amount of
account and, for cash, to Federal Reserve Banks as
securities bid for, which must be $1,000 or a multiple
agents of foreign and international monetary authorities.
thereof. Competitive tenders must also show the yield
desired, expressed in terms of an annual yield with two
decimals, e.g., 7.11%. Common fractions may not be
2. DESCRIPTION OF SECURITIES
used. Noncompetitive tenders must show the term “non
2.1 The securities will be dated February 15, 1977,
competitive” on the tender forms in lieu of a specified
and will bear interest from that date, payable on a semi
yield. No bidder may submit more than one noncom
annual basis on August 15, 1977, and each 6 months
petitive tender and the amount may not exceed
thereafter on February 15 and August 15 until the
$ 1,000 ,000 .
principal becomes payable. They will mature on Feb
3.3 Commercial banks, which for this purpose are
ruary 15, 2007, but may be redeemed at the option of the
defined
as banks accepting demand deposits, and
United States on and after February 15, 2002, in whole or
primary
dealers,
which for this purpose are defined as
in part, at par and accrued interest on any interest pay
dealers
who
make
primary markets in Government
ment date or dates, on 4 months’ notice of call given in
securities
and
report
daily
to the Federal Reserve Bank of
such manner as the Secretary of the Treasury shall pre
New
York
their
positions
with respect to Government
scribe. In case of partial call, the securities to be re
securities
and
borrowings
thereon,
may submit tenders
deemed will be determined by such method as may be
for account of customers, provided the names of the
prescribed by the Secretary of the Treasury. Interest on
customers and the amount for each customer are
the securities called for redemption shall cease on the
furnished. Others will not be permitted to submit tenders
date of redemption specified in the notice of call.
except for their own account.
2.2 The income derived from the securities is sub
3.4 Tenders will be received without deposit for
ject to all taxes imposed under the Internal Revenue
their own account from commercial banks and other
Code of 1954. The securities are subject to estate, inher
banking institutions; primary dealers, as defined above;
itance, gift or other excise taxes, whether Federal or
Federally-insured savings and loan associations; States
State, but are exempt from all taxation now or hereafter
and
political subdivisions or instrumentalities thereof;
imposed on the principal or interest thereof by any State,
public
pension and retirement and other public funds;
or any of the possessions of the United States, or by any
international organizations in which the United States
local taxing authority.
holds membership; foreign central banks and foreign
states; Federal Reserve Banks; and Government
2.3 The securities will be acceptable to secure
accounts. Tenders from others must be accompanied by a
deposits of public moneys. They will not be acceptable in
deposit of 5% of the face amount of securities applied for
payment of taxes.
(in the form of cash, maturing Treasury securities or
2.4 Bearer securities with interest coupons attached,
readily collectible checks), or by a guarantee of such
and securities registered as to principal and interest, will
deposit
by a commercial bank or a primary dealer.
be issued in denominations of $1,000, $5,000, $10,000,
3.5 Immediately after the closing hour, tenders will
$100,000 and $1,000,000. Book-entry securities will be
be opened, following which public announcement will be
available to eligible bidders in multiples of those
amounts. Interchanges of securities of different denom
made of the amount and yield range of accepted bids.
Subject to the reservations expressed in Section 4, noninations and of coupon, registered and book-entry

(O ver)

competitive tenders will be accepted in full at the average
Service (an individual’s social security number or an
price (in three decimals) of accepted competitive tenders,
employer identification number) is not furnished. When
and competitive tenders with the lowest yields will be
payment is made in securities, a cash adjustment will be
accepted to the extent required to attain the amount
made to or required of the bidder for any difference
offered. Tenders at the highest accepted yield will be
between the face amount of securities presented and the
prorated if necessary. After the determination is made as
amount payable on the securities allotted.
to which tenders are accepted, a coupon rate will be deter
5.2 In every case where full payment is not com
mined at a 1/8 of one percent increment that translates
pleted on time, the deposit submitted with the tender,
into an average accepted price close to 100.000 and a low
up to 5 percent of the face amount of securities allotted,
est accepted price above the original issue discount limit
shall,
at the discretion of the Secretary of the Treasury,
of 92.500. That rate of interest will be paid on all of the
be forfeited to the United States.
securities. Based on such interest rate, the price on each
5.3 Registered securities tendered as deposits and
competitive tender allotted will be determined and each
in payment for securities allotted hereunder are not
successful competitive bidder will be required to pay the
required to be assigned if the new securities are to be
price equivalent to the yield bid. Price calculations will
registered in the same names and forms as appear in
be carried to three decimal places on the basis of price
the registrations or assignments of the securities
per hundred, e.g., 99.923, and the determinations of the
surrendered. Specific instructions for the issuance and
Secretary of the Treasury shall be final. If the amount of
delivery of the new securities, signed by the owner or his
noncompetitive tenders received would absorb all or
authorized representative, must accompany the securi
most of the offering, competitive tenders will be accepted
ties presented. Otherwise, the presented securities
in an amount sufficient to provide a fair determination of
should be assigned by the registered payees or assignees
yield. Tenders received from Government accounts and
thereof in accordance with the general regulations
Federal Reserve Banks will be accepted at the average
governing United States securities, as hereinafter set
price of accepted competitive tenders.
forth. When the new securities are to be registered in
3.6
Those submitting competitive tenders will be names and forms different from those in the in
advised of the acceptance or rejection thereof. Those
scriptions or assignments of the securities presented, the
submitting noncompetitive tenders will not be notified
assignment should be to “The Secretary of the Treasury
except when the tender is not accepted in full or when the
for (securities offered herein) in the name of (name and
price is over par.
taxpayer identifying number).” If new securities in
coupon form are desired, the assignment should be to
4. RESERVATIONS
“The Secretary of the Treasury for coupon securities
(securities
offered herein) to be delivered to (name and
4.1 The Secretary of the Treasury expressly reserves
address).” Securities tendered in payment should be sur
the right to accept or reject any or all tenders in whole or
rendered to the Federal Reserve Bank or Branch or to the
in part, to allot more or less than the amount of securities
Bureau of the Public Debt, Washington, D.C. 20226.
specified in Section 1, and to make different percentage
The
securities must be delivered at the expense and risk
allotments to various classes of applicants when he
of
the
holder.
deems it to be in the public interest, and the Secretary’s
5.4 If bearer securities are not ready for delivery on
action in any such respect shall be final.
the settlement date, purchasers may elect to receive
interim certificates. These certificates shall be issued in
5. PAYMENT AND DELIVERY
bearer form and shall be exchangeable for the securities
5.1 Settlement for securities allotted hereunder
offered herein, when such securities are available, at
must be made or completed on or before Tuesday,
any Federal Reserve Bank or Branch, or at the Bureau
February 15, 1977, at the Federal Reserve Bank or
of the Public Debt, Washington, D.C. 20226. The
Branch or the Bureau of the Public Debt wherever the
interim certificates must be returned at the risk and
tender was submitted. Payment must be in cash; in other
expense of the holder.
funds immediately available to the Treasury; in Treasury
5.5 Delivery of securities in registered form will be
bills, notes or bonds (with all coupons detached)
made
after the requested form of registration has been
maturing on or before the settlement date but which are
validated, the registered interest account has been
not overdue as defined in the general regulations govern
established, and the securities have been inscribed.
ing United States securities; or by check drawn to the
order of the institution to which the tender was
6. GENERAL PROVISIONS
submitted, which must be received at such institution no
later than:
6.1 As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
(a) Thursday, February 10, 1977, if the check is
tenders, to make such allotments as may be prescribed
drawn on a bank in the Federal Reserve District of the
by the Secretary of the Treasury, to issue such notices as
institution to which the check is submitted (the Fifth
may be necessary, to receive payment for and make
Federal Reserve District in case of the Bureau of the
delivery
of securities on full-paid allotments, and to
Public Debt), or
issue interim certificates pending delivery of definitive
(b) Wednesday, February 9, 1977, if the check is
securities.
drawn on a bank in another Federal Reserve District.
6.2 The Secretary of the Treasury may at any
Checks received after the date set forth in the pre
time, or from time to time, prescribe supplemental or
ceding sentence will not be accepted unless they are
amendatory rules and regulations governing the offer
payable at the applicable Federal Reserve Bank. Pay
ing, which will be communicated promptly to the
ment will not be deemed to have been completed where
Federal Reserve Banks.
registered securities are requested if the appropriate
identifying number as required on tax returns and
W. MICHAEL BLUMENTHAL,
other documents submitted to the Internal Revenue
S e c re ta ry o f th e T re a su ry .

UNITED STATES OF AMERICA
TREASURY NOTES OF FEBRUARY 15, 1984
SERIES A-1984

DEPARTMENT CIRCULAR
Public Debt Series — No. 3-77

INVITATION FOR TENDERS

1.1 The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders for $2,000,000,000, or thereabouts, of
securities of the United States, designated Treasury
Notes of February 15, 1984, Series A-1984 (CUSIP No.
912827 GLO). The securities will be sold at auction with
bidding on the basis of yield. Payment will be required
at the price equivalent of the bid yield of each accepted
tender. The interest rate on the securities and the price
equivalent of each accepted bid will be determined as
set forth below. Additional amounts of these securities
may be issued in exchange for maturing Treasury securi
ties, to Government accounts and Federal Reserve Banks
for their own account and, for cash, to Federal Reserve
Banks as agents of foreign and international monetary
authorities.
2.

DESCRIPTION OF SECURITIES

2.1 The securities will be dated February 15, 1977,
and will bear interest from that date, payable on a
semiannual basis on August 15,1977, and each 6 months
thereafter on February 15 and August 15 until the
principal becomes payable. They will mature February
15, 1984, and will not be subject to call for redemption
prior to maturity.
2.2 The income derived from the securities is
subject to all taxes imposed under the Internal Revenue
Code of 1954. The securities are subject to estate, in
heritance, gift or other excise taxes, whether Federal or
State, but are exempt from all taxation now or hereafter
imposed on the principal or interest thereof by any State,
or any of the possessions of the United States, or by any
local taxing authority.
2.3 The securities will be acceptable to secure
deposits of public moneys. They will not be acceptable in
payment of taxes.
2.4 Bearer securities with interest coupons attached,
and securities registered as to principal and interest, will
be issued in denominations of $1,000, $5,000, $10,000,
$100,000 and $1,000,000. Book-entry securities will be
available to eligible bidders in multiples of those
amounts. Interchanges of securities of different denom
inations and of coupon, registered and book-entry
securities, and the transfer of registered securities will be
permitted.
2.5 The securities will be subject to the general reg
ulations of the Department of the Treasury governing
United States securities, now or hereafter prescribed.

DEPARTMENT OF THE TREASURY,
Office of the Secretary,
Washington, January 27, 1977.

3. SALE PROCEDURES
3.1 Tenders will be received at Federal Reserve
Banks and Branches and at the Bureau of the Public
Debt, Washington, D.C. 20226, up to 1:30 p.m., Eastern
Standard time, Thursday, February 3, 1977. Non
competitive tenders, as defined below, will be considered
timely if postmarked no later than Wednesday, February
2, 1977.

3.2 Each tender must state the face amount of
securities bid for, which must be $1,000 or a multiple
thereof. Competitive tenders must show the yield desired,
expressed in terms of an annual yield with two decimals,
e g., 7.11%. Common fractions may not be used. Non
competitive tenders must show the term “noncompeti
tive” on the tender form in lieu of a specified yield. No
bidder may submit more than one noncompetitive
tender, and the amount may not exceed $1,000,000.
3.3 Commercial banks, which for this purpose are
defined as banks accepting demand deposits, and
primary dealers, which for this purpose are defined as
dealers who make primary markets in Government
securities and report daily to the Federal Reserve Bank of
New York their positions with respect to Government
securities and borrowings thereon, may submit tenders
for account of customers, provided the names of the
customers and the amount for each customer are
furnished. Others will not be permitted to submit tenders
except for their own account.
3.4 Tenders will be received without deposit for
their own account from commercial banks and other
banking institutions; primary dealers, as defined above;
Federally-insured savings and loan associations; States
and political subdivisions or instrumentalities thereof;
public pension and retirement and other public funds;
international organizations in which the United States
holds membership; foreign central banks and foreign
states; Federal Reserve Banks; and Government
accounts. Tenders from others must be accompanied by
a deposit of 5% of the face amount of securities applied
for (in the form of cash, maturing Treasury securities or
readily collectible checks), or by a guarantee of such de
posit by a commercial bank or a primary dealer.
3.5 Immediately after the closing hour . tenders
will be opened, following which public announcement
will be made of the amount and yield range of accepted
bids. Subject to the reservations expressed in Section 4 ,
noncompetitive tenders will be accepted in full at the

[Ref. Cir. No. 8042 1

(O ver)

average price (in three decimals) of accepted competitive
tenders, and competitive tenders with the lowest yields
will be accepted to the extent required to attain the
amount offered. Tenders at the highest accepted yield
will be prorated if necessary. After the determination is
made as to which tenders are accepted, a coupon rate will
be determined at a 1/8 of one percent increment that
translates into an average accepted price close to 100.000
and a lowest accepted price above the original issue
discount limit of 98.250. That rate of interest will be paid
on all of the securities. Based on such interest rate, the
price on each competitive tender allotted will be deter
mined and each successful competitive bidder will be
required to pay the price equivalent to the yield bid.
Price calculations will be carried to three decimal places
on the basis of price per hundred, e.g., 99.923, and the
determinations of the Secretary of the Treasury shall be
final. If the amount of noncompetitive tenders received
would absorb all or most of the offering, competitive
tenders will be accepted in an amount sufficient to pro
vide a fair determination of yield. Tenders received from
Government accounts and Federal Reserve Banks will be
accepted at the average price of accepted competitive
tenders.
3.6
Those submitting competitive tenders will be
advised of the acceptance or rejection thereof. Those
submitting noncompetitive tenders will not be notified
except when the tender is not accepted in full or when the
price is over par.
4.

RESERVATIONS

4.1 The Secretary of the Treasury expressly re
serves the right to accept or reject any or all tenders in
whole or in part, to allot more or less than the amount of
securities specified in Section 1, and to make different
percentage allotments to various classes of applicants
when he deems it to be in the public interest, and the
Secretary’s action in any such respect shall be final.
5. PAYMENT AND DELIVERY
5.1 Settlement for securities allotted hereunder
must be made or completed on or before Tuesday, Feb
ruary 15, 1977, at the Federal Reserve Bank or Branch,
or the Bureau of the Public Debt, wherever the tender
was submitted. Payment must be in cash; in other funds
immediately available to the Treasury; in Treasury bills,
notes or bonds (with all coupons detached) maturing on
or before the settlement date but which are not overdue
as defined in the general regulations governing United
States securities; or by check drawn to the order of the
institution to which the tender was submitted, which
must be received at such institution no later than:

(a) Thursday, February 10, 1977, if the check is
drawn on a bank in the Federal Reserve District of the
institution to which the check is submitted (the Fifth
Federal Reserve District in case of the Bureau of the
Public Debt), or
(b) Wednesday, February 9, 1977, if the check is
drawn on a bank in another Federal Reserve District.
Checks received after the dates set forth in the preceding
sentence will not be accepted unless they are payable at
the applicable Federal Reserve Bank. Payment will not
be deemed to have been completed where registered
securities are requested if the appropriate identifying
number as required on tax returns and other documents
submitted to the Internal Revenue Service (an individ

ual’s social security number or an employer identifica
tion number) is not furnished. When payment is made in
securities, a cash adjustment will be made to or required
of the bidder for any difference between the face amount
of securities presented and the amount payable on the
securities allotted.
5.2 In every case where full payment is not com
pleted on time, the deposit submitted with the tender, up
to 5 percent of the face amount of securities allotted,
shall, at the discretion of the Secretary of the Treasury,
be forfeited to the United States.
5.3 Registered securities tendered as deposits and
in payment for securities allotted hereunder are not re
quired to be assigned if the new securities are to be regis
tered in the same names and forms as appear in the
registrations or assignments of the securities surren
dered. Specific instructions for the issuance and delivery
of the new securities, signed by the owner or his autho
rized representative, must accompany the securities pre
sented. Otherwise, the presented securities should be
assigned by the registered payees or assignees thereof in
accordance with the general regulations governing
United States securities, as hereinafter set forth. When
the new. securities are to be registered in names and
forms different from those in the inscriptions or assign
ments of the securities presented, the assignment should
be to “The Secretary of the Treasury for (securities
offered herein) in the name of (name and taxpayer
identifying number).” If new securities in coupon form
are desired, the assignment should be to “The Secretary
of the Treasury for coupon (securities offered herein) to
be delivered to (name and address).” Securities tendered
in payment should be surrendered to the Federal Reserve
Bank or Branch or to the Bureau of the Public Debt,
Washington, D.C. 20226. The securities must be de
livered at the expense and risk of the holder.
5.4 If bearer securities are not ready for delivery on
the settlement date, purchasers may elect to receive
interim certificates. These certificates shall be issued in
bearer form and shall be exchangeable for the securities
offered herein, when such securities are available, at any
Federal Reserve Bank or Branch, or at the Bureau of the
Public Debt, Washington, D.C. 20226. The interim
certificates must be returned at the risk and expense of
the holder.
5.5 Delivery of securities in registered form will be
made after the requested form of registration has been
validated, the registered interest account has been
established, and the securities have been inscribed.
6.

GENERAL PROVISIONS

6.1 As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
tenders, to make such allotments as may be prescribed
by the Secretary of the Treasury, to issue such notices as
may be necessary, to receive payment for and make
delivery of securities on full-paid allotments, and to issue
interim certificates pending delivery of the definitive
securities.
6.2 The Secretary of the Treasury may at any time,
or from time to time, prescribe supplemental or
amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal
Reserve Banks.
W. MICHAEL BLUMENTHAL,

Secretary of the Treasury.

F O R M N A -1

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, February 1, 1977

TENDER FOR TREASURY NOTES OF SERIES G-1980

Due February 15 , 1980

Dated February 15, 1977

£s -c- v«
—■a 8
£'Z o>
? -y»
&
o cS
uc/i o >>

F e d e r a l R ese r v e B a n k

Dated at .......................................................

York,

Fiscal of the United States,
New York, N. Y. 10045

..................................................... , 19. .

The undersigned hereby offers to purchase United States of America Treasury Notes of Series G-1980 in
the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date
at the price awarded on this tender.

1) yj r*

’2 o

COMPETITIVE TENDER

5^c
p ec
o -w
yOi y^ _r*
D
o4
^

y oo
*o
■*•O 0)

C Kf U
C Sf x
'■5■- d

« •*
•£—a
c l cyi
•“C S
I£3 ^

$............................................................. (maturity value)

$ .................................................... ( maturity value)
( N o t to e x c e e d $ 1 ,0 0 0 ,0 0 0 f o r o n e b i d d e r th r o u g h a ll s o u r c e s )

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and
on the reverse side ( if registered securities are desired, please also complete schedule on reverse side):
Pieces
X X

Denomination
X X X X

—
.v
>s a x
5
3o—
3-S
.^

Maturity value
X X

X X

5,000
10,000
100,000

c § E

1,000,000

“0 “

su- *,"g
r- “

Totals

T c so

Payment will be made as follows:
□ By charge to our reserve account
□ By cash or check in i m m e d ia te ly
a v a ila b le f u n d s

□ By surrender of maturing
securities
u

’ apeciai instructions.

( N o c h a n g e s in d e l i v e r y in s tr u c tio n s
w ill b e a c c e p te d )

c*'C
ii F
2 <u
jl/l *
**=; — 0)
i„c'S- M
c

W e F u r t h e r C e r t i f y that tenders received by us, if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions,
agreements, and certifications as set forth in this form.

?E
J i I

(Name of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

2 ^ 1)
^

X X

O 1. Deliver over the counter to the
undersigned
Q 2. Ship to the undersigned
□ 3. Hold in safekeeping (for member
bank only) in —
O Investment Account
□ General Account
O Trust Account
Q 4. Hold as collateral for Treasury
Tax and Loan Account*

° The undersigned certifies that the allotted securities will be owned solely by the undersigned.
( If a comnierical bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)

a.ss

§ 3

at the average price of accepted competitive bids.

( Y i e l d m u s t b e e x p r e s s e d w i t h n o t m o r e th a n tw o
d e c im a l p la c e s , f o r e x a m p le , 7 .1 1 )

Oo o

NONCOMPETITIVE TENDER

or any lesser amount that may be awarded.
Yield: ...............

oa oc z?

D o n o t f ill in b o th C o m p e titiv e a n d
N o n c o m p e titiv e te n d e r s on on e f o r m

.E‘•5 d

-a-2 F
C 3

E£ C

(Address — incl. City and State)

(Tel. No.)

(Signature of subscriber or authorized signature)

0J go
h S r33
I ~-J
H’s'c
Z *: —
<'O•
W 9) S-C
5

(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)

5 .-C --

g 2o£
(Name of customer)

H « rt ”

(Name of customer)

9/5 x x ?S

r. .9) 0) «
b S-a

>< S

3
s

C
cs;
x« 5x=3
«
P4
x
S Ej»

vm 5

£3 C 3

INSTRUCTIONS:
1.

No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (maturity value).

2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account;
in doing so, they may consolidate competitive tenders a t th e s a m e y i e l d and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit
tenders except for their own account.

3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured
savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other
public funds, international organizations in whieh the United States holds membership, foreign central banks and foreign States,
dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York thenpositions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must
be accompanied by payment of 5 percent of the face amount of the securities applied for.
4. Payment must be completed by February 15, 1977. If payment is by check drawn on a bank in this District, it must
be received by February 10, 1977; checks drawn on a bank in another District must be received by February 9, 1977. All checks
must be drawn to the order of the Federal Reserve Bank of New Y ork; checks endorsed to this Bank will not be accepted.

5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, Is
material, the tender may be disregarded.
[E n c. C ir. N o. 8042]

(OVER)

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES G-1980

SUBSCRIPTION NO.

SUBSCRIBER.
S IG N A T U R E -

DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

□

DELIVER OVER THE COUNTER

□

SHIP TO SUBSCRIBER

□

OTHER INSTRUCTIONS:

□

ADDRESS —

BY CHARGE TO OUR
RESERVE ACCOUNT
BY CASH OR CHECK
IN IMMEDIATELY AVAILABLE FUNDS

BY SURRENDER OF
MATURING SECURITIES

FOR FRB USE ONLY
TR A N S . A C C O U N T IN G D A T E

IS S U E A G E N T 12
Feb. 15, 1977

ZIP.

IN T E R E S T C O M P

NO. OF

REGISTRATION INSTRUCTIONS

P IE C E S

DENOM

AMOUNT

S E R IA L N O S
(L E A V E B L A N K )

O ATE

FOR FRB USE ONLY

NAME(S)
32

ID OR S.S. NO.

5 ,0 0 0
1 0 ,0 0 0
1 0 0 ,0 0 0

ADDRESS
42

ZIP

1 ,0 0 0 ,0 0 0

TO TA L

TR. CASE NO.

NAME(S)
32

5 ,0 0 0

1 0 ,0 0 0

1 0 0 ,0 0 0

1 ,0 0 0 ,0 0 0

ID OR S.S. NO.
ADDRESS
ZIP

TO TA L

TR. CASE NO.

NAME(S)
32

ID OR S.S. NO.

ADDRESS

ZIP

5 ,0 0 0
1 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TO TA L

TR. CASE NO.

NAME(S)
32
34

ID OR S.S. NO.
38

ADDRESS

ZIP

5 ,0 0 0
1 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TO TA L

TR. CASE NO.

NAME(S)
5 ,0 0 0
32
1 0 ,0 0 0
34

ID OR S.S. NO.
38

ADDRESS

ZIP

1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TO TA L

TR. CASE NO.

LOAN CODE

110-01

FORM BA

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Friday, February 4,1977

TENDER FOR TREASURY BONDS OF 2002-2007

PRIVACY ACT STA TEM E N T — T he individually identifiable infonnation required on this form is necessary to permit the subscription to be processed and the securities to be issued.
If registered securities are requested, the regulations governing United States securities (D epartm ent Circular No. 3 0 0 ) and the offering circular require submission o f social security
numbers; the numbers and other information are used in inscribing the securities and establishing and servicing the ownership and interest records. T he transaction w ill not be com pleted
unless all required data is furnished.

Dated February 15, 1977
F ederal Reserve Bank

Due February 15, 2007

Dated at ..................................................

N ew York,

Fiscal of the United States,
New York, N. Y. 10045

....................................................... , 19..

The undersigned hereby offers to purchase United States of America Treasury Bonds of 2002-2007 in
the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date
at the price awarded on this tender.
COMPETITIVE TENDER

D o n o t f ill in b o th C o m p e titiv e a n d
N o n c o m p e titiv e te n d e r s on o n e f o r m

$....................................................... (maturity value)
or any lesser amount that may be awarded.
Yield: ...............

NONCOMPETITIVE TENDER

$ .................................................... ( maturity value)
( N o t to e x c e e d $ 1 ,0 0 0 ,0 0 0 f o r o n e b i d d e r th r o u g h a ll s o u r c e s )

at the average price of accepted competitive bids.

( Y i e l d m u s t b e e x p r e s s e d w i t h n o t m o r e th a n tw o
d e c im a l p la c e s , f o r e x a m p le , 7 .1 1 )

Denom ination
$

M aturity value

1,000
5,000
10,000
100,000
1,000,000
Totals

□

1. D eliver over the counter to the
undersigned
Q 2. Ship to the undersigned
□ 3. H old in safekeeping ( for member
bank o n ly ) in —
□ Investm ent Account
Q General Account
O Trust Account
□ 4. H old as collateral for Treasury
Tax and Loan Account®

Payment will be m ade as follows:
□ By charge to our reserve account
□ By cash or check in im m e d i a t e l y
a v a ila b le f u n d s

□

By surrender of maturing
securities

1—i cr c .
u
^

_
UB5,

( N o c h a n g e s in d e l i v e r y in s tr u c tio n s
w ill b e a c c e p te d )

W e H ereby C ertify that we have received tenders from our customers in the amounts set forth opposite
the customers’ names on the list which is made a part of this tender, and that we have either received and
are holding for the Treasury or we guarantee payment to the Treasury of deposits stipulated in the official
offering circular.
W e F urther C ertify that tenders received by us, if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions,
as set forth in this form.
(Name of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Address — incl. City and State)

(Tel. No.)

(Signature of subscriber or authorized signature)

(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)

(Name of customer)

INSTRUCTIONS:
1.

No tender for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 (maturity value).

2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions writh respect to Government securities and borrowings thereon, may submit tenders for customer accou nt;
in doing so, they may consolidate competitive tenders a t th e s a m e y ie ld and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit
tenders except for their own account.

3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured
savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other
public funds, international organizations in which the United States holds membership, foreign central banks and foreign States,
dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their
positions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must
be accompanied by payment of 5 percent of the face amount of the securities applied for.
4. Payment must be completed by February 15, 1977. If payment is by check drawn on a bank in this District, it must
be received by February 10, 1977; checks drawn on a bank in .an other District must be received by February 9. 1977. All checks
must be drawn to the order of the Federal Reserve Bank of N ew Y o r k ; checks endorsed to this Bank will not be accepted.

5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is
material, the tender may be disregarded.

[Enc. Cir. No. 8042]

(OVER)

SCHEDULE FOR ISSUE OF REGISTERED TREASURY BONDS OF 2002-2007

SUBSCRIPTION NO.

SUBSCRIBER.
S IG N A T U R E -

DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

□

DELIVER OVER THE COUNTER

□

SHIP TO SUBSCRIBER

□

OTHER INSTRUCTIONS:

□

ADDRESS —

BY CHARGE TO OUR
RESERVE ACCOUNT
BY CASH OR CHECK
IN IMMEDIATELY AVAILABLE FUNDS

BY SURRENDER OF
MATURING SECURITIES

FOR FRB USE ONLY
TRANS. ACCOUNTING DATE

I S S U E A G E N T 12
Feb. 15, 1977

ZIP.

IN T E R E S T C O M P

NO OF
P IEC ES

REGISTRATION INSTRUCTIONS
NAME(S)

1,000

5,000

ID OR S.S. NO.

ADDRESS
ZIP
NAME(S)

ZIP
NAME(S)

T O TA L

1.000

5,000

10,000

100,000

1,000,000

ADDRESS
ZIP

1,000

5,000

100,000

1,000,000

TO TA L

32
34
ID OR S.S. NO.

TR. CASE NO.

1,000
5,000
10,000
100,000

ADDRESS

42
ZIP

99
30

NAME(S)

32
34

ID OR S.S. NO.
ADDRESS

TR. CASE NO.

10,000

NAME(S)

TO TA L

ID OR S.S. NO.

10,000

1,000,000

AMOUNT

DATE

FOR FRB USE ONLY

100,000

ID OR S.S. NO.
ADDRESS

DENOM .

SER IAL NOS
(L E A V E B LAN K)

ZIP

1,000,000
TO TA L
1,000
5,000
10,000

100,000

1,000,000

TR. CASE NO.

TO TA L

TR. CASE NO.

LOAN COOE

110-01

fo rm

n a -2

IMPORTANT—Closing time for receipt of this tender is 1:30 p.m., Thursday, February 3,1977

TENDER FOR TREASURY NOTES OF SERIES A-1984

PRIVACY ACT STATEMENT — 1 he individually identifiable information required on this form is necessary to permit the subscription to be processed and the securities to be issued.
If registered securities are requested, the regulations governing United States securities (Department Circular No. 300) and the offering circular require submission of social security
numbers; the numbers and other information are used in inscribing the securities and establishing and servicing the ownership and interest records. The transaction will not be completed
unless all required data is furnished.

Dated February 15, 1977
F ederal Reserve Bank

Due February 15, 1984

Dated at .................................... .............

N ew York,

Fiscal of the United States,
New York, N. Y. 10045

......................................................... , 19 .

The undersigned hereby offers to purchase United States of America Treasury Notes of Series A-1984 in
the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date
at the price awarded on this tender.
COMPETITIVE TENDER

Do not fill in both Competitive and
Noncompetitive tenders on one form

$....................................................... (maturity value)
or any lesser amount that may be awarded.
Yield: ...............

NONCOMPETITIVE TENDER

$ .........................................................

( maturity value)

(Not to exceed $1,000,000 for one bidder through all sources)

at the average price of accepted competitive bids.

(Yield must be expressed with not more than two
decimal places, for example, 7.11)

Denomination
$

Maturity value

1,000
5,000
10,000
100,000

1,000,000
Totals

□ 1. Deliver over the counter to the
undersigned
□ 2. Ship to the undersigned
□ 3. Hold in safekeeping (for member
bank only) in —
0 Investment Account
Q General Account
□ Trust Account
0 4. Hold as collateral for Treasury
Tax and Loan Account®

Payment will be made as follows:
□ By charge to our reserve account
0 By cash or check in immediately
available funds

0 By surrender of maturing
securities
r K c________ „
U
^
m^rucuum.
-1

(N o changes in delivery instructions
will be accepted)

° The undersigned certifies that the allotted securities will be owned solely by the undersigned.
(If a commerical bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)
We H ereby C ertify that we have received tenders from our customers in the amounts set forth opposite
the customers’ names on the list which is made a part of this tender, and that we have either received and
are holding for the Treasury or we guarantee payment to the Treasury of deposits stipulated in the official
offering circular.
W e F urther C ertify that tenders received by us, if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions,
as set forth in this form.
(Name of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Tel. No.)

( Address — incl. City and State)
(Signature of subscriber or authorized signature)

(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)
(Name of customer)

(Name of customer)

INSTRUCTIONS:
1. No tender for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 (maturity value).
2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account;
in doing so, they may consolidate competitive tenders at the same yield and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit
tenders except for their own account.
3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured
savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other
public funds, international organizations in which the United States holds membership, foreign central banks and foreign States,
dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their
positions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must
be accompanied by payment of 5 percent of the face amount of the securities applied for.
4. Payment must be completed by February 15, 1977. If payment is by check drawn on a bank in this District, it must
be received by February 10, 1977; checks drawn on a bank in another District must be received by February 9, 1977. All checks
must be drawn to the order of the Federal Reserve Bank of New York ; checks endorsed to this Bank will not be accepted.
5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is
material, the tender may be disregarded.

[ Enc. C'ir. No. 8042]

(OVER)

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES A-1984
SUBSCRIPTION NO.
DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

SUBSCRIBER.

□

DELIVER OVER THE COUNTER

□

S IG N A T U R E -

□

SHIP TO SUBSCRIBER

□

OTHER INSTRUCTIONS:

□

ADDRESS ___

BY CHARGE TO OUR
RESERVE ACCOUNT
BY CASH OR CHECK
IN IMMEDIATELY AVAILABLE FUNDS

BY SURRENDER OF
MATURING SECURITIES

FOR FRB USE ONLY
TRANS. ACCOUNTING DATE

IS S U E A G E N T 12
Feb. 15, 1977

ZIP.

IN T E R E S T C O M P

REGISTRATION INSTRUCTIONS

P IE C E S

NAME(S)

30
32

34
38

ADDRESS

ZIP
NAME(S)

99
30
32
34

ID OR S.S. NO.
38

ADDRESS

ZIP
NAME(S)

1 ,0 0 0 ,0 0 0

TOTAL

NAME(S)

1 0 ,0 0 0

1,00 0

99
30

TR. CASE NO.

1 0 0 ,0 0 0

5 ,0 0 0

ADDRESS
ZIP

TO TAL

15.

ID OR S.S. NO.

1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

5 ,0 0 0

TR. CASE NO.

1 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TR. CASE NO.

TOTAL
1,00 0
5 ,0 0 0
1 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TR. CASE NO.

TOTAL
1,00 0
5 ,00 0

32
1 0 ,0 0 0
34

ID OR S.S. NO.

ADDRESS

ZIP

DATE

FOR FRB USE ONLY

1 0 ,0 0 0

S E R IA L N O S
(L E A V E B L A N K )

1 ,0 0 0

ADDRESS

AMOUNT

5 ,0 0 0

ID OR S.S. NO.

OENOM

1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

TOTAL

TR. CASE NO.

LOAN CODE

110-01

Full text of Federal Reserve Bank of New York Circulars : 8042. Treasury Announces February Quarterly Financing

FRASER