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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 Circular No. 8182 September 16, 1977 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 September 14: Tenders for $2,918 million o f 52-week Treasury bills to be dated September 20, 1977, and to mature September 19, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids Price 93.804a 93.769 93.776 High .............................. Low .............................. Average ........................ Discount Rate Investment Rate 1 6.128% 6.163% 6.156% 6.52% 6.56% 6.55% * Equivalent coupon-issue yield, a Excepting one tender of $350,000. Tenders at the low price were allotted 61 percent. Total Tenders Received and Accepted F.R. District (and U.S. Treasury) Boston ........................................... New York....................................... Philadelphia................................... Cleveland....................................... Richmond ..................................... Atlanta........................................... Chicago......................................... St. Louis......................................... Minneapolis................................... Kansas City................................... Dallas............................................. San Francisco............................... U.S. Treasury ............................... Total....................................... Accepted Received $ 30 975,000 4 135 575,000 2 600,000 110 080,000 49 085,000 13 015,000 434 130,000 27 775,000 24 425,000 12 725,000 14 595,000 273 665,000 85,000 5 128 730,000 $ , , , , , , , , , , , , , , , , , , , , , , , , , $ 24 475,000 2 554 125,000 2 600,000 12 080,000 32 085,000 5 625,000 155 740,000 3 275,000 19 425,000 10 725,000 4 595,000 92 765,000 85,000 2 917 600,000 , , $ , , , The $2,918 million o f accepted tenders includes $83 million of noncompetitive tenders from the public and $959 million o f tenders from Federal Reserve Banks for themselves and as agents of foreign and international monetary authorities accepted at the average price. An additional $130 million o f 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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