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F E D E R A L R E S E R V E BANK O F NEW YO R K Fiscal Agent of the United States I" Circular No. 8 1 6 4 August 19, 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 August 17: Tenders for $2,954 million of 52-week Treasury bills to be dated August 23, 1977, and to mature August 22, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follow s: Range of Accepted Competitive Bids Price H ig h ................................................... Low .................................................... Average .............................................. 93.834a 93.822 93.827 Discount Rate 6.098% 6.110% 6.105% Investment Rate 1 6.48% 6.50% 6.49% 1 Equivalent coupon-issue yield. a Excepting one tender of $75,000. Tenders at the low price were allotted 73 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............................... $ 33,630,000 4,590,200,000 321,350,000 133,875,000 24,195,000 57,925,000 460,740,000 30,425,000 16,640,000 8,820,000 7,215,000 408,920,000 $ 8,280,000 2,592,385,000 1,350,000 45,335,000 14,195,000 2,925,000 105,980,000 7,225,000 1,640,000 8,820,000 2,215,000 163,415,000 U.S. Treasury ............................. 20,000 20,000 Total ..................................... $6,093,955,000 $2,953,785,000 The $2,954 million of accepted tenders includes $70 million of noncompetitive tenders from the public and $716 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 $50 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. P a u l A . V olcker, President.
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