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FED ER A L RESER VE BANK O F N E W YORK Fiscal Agent of the United States Circular No. 8226 November 30, 1977 RESULTS OF TREASURY’S 139-DAY BILL AUCTION To All Irurorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: The following auction results were announced yesterday by the Treasury Department: Tenders for $3,001+ million of 139-day Treasury bills to be issued on December 2 , 1977, and to mature April 2 0 , 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of A c c e p t e d C o m p e t i t i v e Bids Discount Rate Price High.................... Low..................... Average................. 97-581 97.575 97-578 Investment Rate ^ 6.265# 6.281# 6.273# 6.51# 6.53# 6.52# ^ Equivalent coupon-issue yield. Tenders at the low price were allotted 18 percent. Total Tenders R e c e i v e d and A c c e p t e d Boston................. New York............... Philadelphia........... Cleveland.............. Richmond............... Atlanta................ Chicago................ St. Louis.............. Minneapolis............ Kansas City............ Dallas................. San Francisco............................ Accepted Received F.R. District (and U.S. Treasury)' $ $ 9 ,3 0 5 ,0 0 0 1 ,1 + 8 5 ,0 0 0 2 ,0 1 + 2 ,5 5 0 ,0 0 0 5 ,6 3 0 ,3 6 0 ,0 0 0 5 0 ,0 1 0 ,0 0 0 1+, 5 1 0 , 0 0 0 1 0 , 2 2 5 ,0 0 0 2 0 , 7 1 5 ,0 0 0 2 8 0 ,0 0 0 1+2 6 , 0 0 0 ,0 0 0 1 1 , 1+1 0 , 0 0 0 6 5 ,2 2 5 ,0 0 0 1 * 6 ,3 5 5 ,0 0 0 1 ,2 8 0 ,0 0 0 8 5 2 ,1 0 0 ,0 0 0 3 2 ,5 1 0 ,0 0 0 2 6 , 0 0 0 ,0 0 0 — 2 3 ,2 0 0 ,0 0 0 5 1 0 ,0 0 0 8 , 8 8 0 ,0 0 0 5 1 0 ,0 0 0 6 6 8 ,8 1 5 ,0 0 0 !* 7 T ,3 1 5 ,0 0 0 U.S. Treasury.......... 9 0 ,0 0 0 9 0 ,0 0 0 Total............. $ 7 ,1 + 0 5 ,7 6 0 ,0 0 0 $ 3 ,0 0 3 ,9 7 0 ,0 0 0 ^ Includes $14,160,000 noncompetitive tenders. Paul A. V olcker, President.