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FEDERAL OF RESERVE NEW BANK YORK Fiscal Agent of the United States Circular No.8047 February 4. 1977 Results of Treasury’s 364-Day Bill Auction T o A ll I n c o r p o r a te d B a n k s a n d T ru st C o m p a n ie s , a n d O th e r s C o n c e rn e d , in th e S e c o n d F e d e ra l Reser\>e D istr ic t: The following auction results were announced by the Treasury Department on February 2 Tenders for $2,930 million of 52-week Treasury bills to be dated February 8, 1977, and to mature February 7, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids D is c o u n t R a te P ric e High ................................ ........................ Low ................................ ........................ Average .......................... ........................ 94.617 a 94.584 94.596 I n v e s tm e n t R a te 1 5.324% 5.356% 5.345% 5.63% 5.66% 5.65% ' Equivalent coupon-issue yield. “ Excepting three tenders totaling S6.285.000. Tenders at the low price were allotted 38 percent. Total Tenders Received and Accepted F.R. District (and U.S. Treasury) Boston ........................................... New Y ork....................................... Philadelphia................................... C leveland....................................... Richmond ..................................... A tla n ta ........................................... C h ic a g o ......................................... St. Louis......................................... M inneapolis................................... Kansas City................................... Dallas............................................. San F ra n cisc o ............................... A c c e p te d R e c e iv e d $ 45,825,000 4,739,980,000 71,035.000 80,070,000 45,840,000 10,365,000 406,675,000 28,030,000 21,175,000 16,870,000 15,750,000 252.825,000 $ 3,825,000 2,581,580,000 31,035,000 35,070,000 40.840,000 10,365,000 139,425,000 4,830,000 11,175,000 15,370,000 10,750,000 45,825,000 U.S. Treasury ............................... 20,000 20,000 T o ta l....................................... $5,734,460,000 $2,930,110,000 The $2,930 million of accepted tenders includes $58 million of noncompetitive tenders from the public and $745 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 $175 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, P r e s id e n t.
@FedFRASER