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FEDER AL RESERVE BANK OF NEW YORK Fiscal Agent of the United States P Circular No. 8254 [_ January 6, 1978 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 January 4: Tenders for $3,072 million of 52-week Treasury bills to be dated January 10, 1978, and to mature January 9, 1979, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids H ig h ................................ .................. Low ................................ .................. Average .......................... .................. Price Discount Rate Investment Rate * 93.384 93.368 93.375 6.543% 6.559% 6.552% 6.98% 7.00% 6.99% 1Equivalent coupon-issue yield. Tenders at the low price were allotted 37 percent. Total Tenders Received and Accepted F.R. District (and U.S. Treasury) Received Accepted Boston .......................................... New York...................................... Philadelphia.................................. Cleveland...................................... Richmond .................................... A tlan ta.......................................... C hicago ........................................ St. Louis........................................ Minneapolis.................................. Kansas City.................................. Dallas............................................ San Francisco.............................. $ 22,145,000 4,263,765,000 56,250,000 73,380,000 14,915,000 21,125,000 423,890,000 41,700,000 23,105,000 46,170,000 9,525,000 434,295,000 $ 2,145,000 2,553,845,000 31,250,000 17,355,000 7,265,000 9,655,000 244,740,000 7,200,000 5,105,000 40,850,000 4,525,000 146,455,000 U.S. T re a su ry .............................. 1,335,000 1,335,000 T o ta l...................................... $5,431,600,000 $3,071,725,000 The $3,072 million of accepted tenders includes $121 million of noncompetitive tenders from the public and $1,165 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 $84 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. PAUL A. VOLCKER, President.
@FedFRASER