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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.