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FED ER A L RESER VE BANK O F NEW YORK Fiscal Agent of the United States [ Circular No. 8 1 9 0 1 October 4, 1977 J Results o f Bidding for 91-Day and 182-Day Treasury Bills (T o Be Issued O ctober 6, 1977) To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The results of bidding for the offering of 91-day and 182-day Treasury bills to be issued October 6, 1977, have been released by the Treasury Department. These results are shown below: Range of Accepted Competitive Bids 91 -Day Treasury Bills Maturing January 5, 1978 Price High ........................... ................. Low ............................. ................. Average ...................... ................. 98.463a 98.453 98.456 182-Day Treasury Bills Maturing April 6, 1978 Discount Rate Investment Rate 1 Price Discount Rate Investment Rate 1 6.080% 6. 120% 6.108% 6.26% 6.30% 6.29% 96.828 96.820 96.822 6.274% 6.290% 6.286% 6.57% 6.59% 6.58% 1 Equivalent coupon-issue yield. a Excepting one tender of $300,000. (68 percent of the amount of 91-day bills (90 percent of the amount of 182-day bills bid for at the low price was accepted.) bid for at the low price was accepted.) Total Tenders Received and Accepted 91 -Day Treasury Bills Maturing January 5, 1978 F.R. District (and U.S. Treasury) Boston ...................................... York ............................... Philadelphia ............................. Cleveland .................................. Richm ond................................. Atlanta ...................................... Chicago .................................... St. Louis .................................. Minneapolis .............................. Kansas City .............................. Dallas ........................................ San Francisco ......................... New U.S. Treasury......................... T o t a l s ......................................... Received $ 28,060,000 3,381,120,000 23,005,000 33,495,000 18,205,000 30,840,000 201,240,000 43,630,000 11,500,000 50,440,000 14,795,000 220,905,000 Accepted $ Accepted Received 22,060,000 1,986,025,000 22,660,000 30,760,000 15,950,000 29,725,000 71,545,000 24,755,000 8,500,000 36,760,000 13,795,000 37,500,000 $ 62,015,000 6,603,895,000 73,480,000 87,310,000 31,080,000 36,900,000 458,935,000 63,240,000 27,510,000 28,665,000 9,945,000 438,830,000 $ 6,015,000 3,355,910,000 7,980,000 16,310,000 9,080,000 11,900,000 19,335,000 23,640,000 4,810,000 16,445,000 8,945,000 23,480,000 230,000 415,000 415,000 $7,922,220,000 $3,504,265,000 230,000 $4,057,465,000 182-Day Treasury Bills Maturing April 6,1978 $2,300,265,000b b Includes $351,815,000 noncompetitive tenders from the public. c Includes $174,595,000 noncompetitive tenders from the public. P au l A. V olcker , President.
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