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F E D E R A L R E S E R V E BAN K O F N EW Y O R K Fiscal Agent of the United States I- Circular No. 8 1 5 1 July 22, 1977 L Results of Treasury’s 364-Day Bill Auction To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following auction results were announced by the Treasury Department on July 20: Tenders for $2,978 million of 52-week Treasury bills to be dated July 26, 1977, and to mature July 25, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follow s: Range of Accepted Competitive Bids H ig h ............................... ................... Low ............................... ................... Average ......................... ................... Price Disc omit Rate Investment Rate 1 94.317 94.280 94.290 5.621% 5.657% 5.647% 5.95% 5.99% 5.98% 1 E q u iv a le n t c o u p o n -is s u e y ie ld . Tenders at the low price were allotted 16 percent. Total Tenders Received and Accepted F.R. District (and U.S. Treasury) Received Accepted Boston ............................................ New Y o r k ...................................... Philadelphia ................................. Cleveland ..................................... Richmond ..................................... Atlanta ......................................... Chicago .......................................... St. L o u is........................................ Minneapolis .................................. Kansas City ................................. Dallas ............................................ San Francisco............................... $ 36,990,000 4,531,345,000 35,870,000 36,930,000 29,345,000 25,115,000 719,885,000 22,215,000 37,350,000 5,275,000 4,575,000 356,335,000 $ 21,990,000 2,475,065,000 13,870,000 26,930,000 14,345,000 9,115,000 236,885,000 5,215,000 22,350,000 5,275,000 3,575,000 143,135,000 U.S. Treasury ............................. — Total ...................................... $5,841,230,000 — ■ $2,977,750,000 The $2,978 million of accepted tenders includes $53 million of noncompetitive tenders from the public and $973 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 $57 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.
@FedFRASER