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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r Circular No. 8 1 0 4 L April 29, 1977 Results of Treasury’s 364-Day Bill Auction T o A l l I n c o r p o r a te d B a n k s a n d T r u s t C o m p a n ie s , a n d O th e r s C o n c e r n e d , in th e S e c o n d F e d e r a l R e s e r v e D i s t r i c t : The following auction results were announced by the Treasury Department on April 27: Tenders for $2,837 million of 52-week Treasury bills to be dated May 3, 1977, and to mature May 2, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids P r ic e H ig h .............................................. ........ Low .............................................. ........ Average ........................................ ........ 94.804 94.763 94.780 D is c o u n t R a te In v e s tm e n t R a te 1 5.139% 5.179% 5.163% 5.42% 5.47% 5.45% 1 Equivalent coupon-issue yield. Tenders at the low price were allotted 63 percent. Total Tenders Received and Accepted F .R . D i s t r i c t ( a n d U S . T r e a s u r y ) B oston ........................................... New Y ork ..................................... Philadelphia ................................ Cleveland ..................................... Richmond ..................................... Atlanta ......................................... Chicago ......................................... St. L o u is....................................... Minneapolis ................................ Kansas City ................................ Dallas ........................................... San Francisco.............................. A c c e p te d R e c e iv e d $ 16,855,000 5,337,760,000 52,075,000 1,510,000 44,945,000 6,905,000 270,725,000 20,200,000 51,300,000 12,990,000 7,010,000 244,135,000 $ 1,855,000 2,650,410,000 27,075,000 1,510,000 8,445,000 6,905,000 77,105,000 3,200,000 22,300,000 10,740,000 5,010,000 22,135,000 U.S. Treasury ............................ 70,000 70,000 Total ..................................... $6,066,480,000 $2,836,760,000 The $2,837 million of accepted tenders includes $56 million of noncompetitive tenders from the public and $1,264 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 $128 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. P aul A. V olcker, President.
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