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F E D E R A L R E S E R V E BANK O F N E W YORK Fiscal Agent of the United States r Circular No. 8277 T L February 14, 1978 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued February 16, 1978) 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 February 16, 1978, have been released by the Treasury Department. These results are shown below: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing May 18, 1978 Price 98.375“ 98.366 98.369 High ............................................. Low ................................................ Average ........................................ 182-Day Treasury Bills Maturing August 17, 1978 Discount Rate Investment Rate 1 Price 6.429% 6.464% 6.452% 6.63% 6.66% 6.65% 96.603 96.586 96.590 Discount Rate 6 .7 19% Investment Rate 1 7 .05 % 6.753% 6.745% 7.09% 7.08% 1 Equivalent coupon-issue yield. a Excepting one tender of $3,820,000. (29 percent of the amount of 91-day bills bid for at the low price was accepted.) (12 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Received and Accepted 182-Day Treasury Bills Maturing August 17, 1978 91-Day Treasury Bills Maturing May 18, 1978 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 .......................... T o ta l s ........................................... Received $ 24,180,000 3,590,435,000 20,280,000 55,730,000 23,290,000 30,540,000 363,255,000 42.840,000 16,590,000 57,840,000 14,320,000 247,775,000 Accepted $ 24,180,000 1,843,535,000 20,280,000 42,180,000 20,290,000 30,540,000 137,535,000 28,840,000 16,590,000 57,040.000 13,610,000 60,675,000 5,320,000 5,320,000 $4,492,395,000 $2,300,615,000b Accepted Received $ $ 18,515,000 5,189,610,000 44,180,000 80,325,000 31,415,000 16,270,000 448,990,000 37,110,000 16,105,000 36,620,000 14,105,000 320,200,000 18,515,000 2,992,410,000 14,180,000 45,325,000 19,015,000 14,270,000 194,990,000 16,110,000 16,105,000 35,490,000 14,105,000 116,000,000 4,120,000 4,120,000 $3,500,635,000c $6,257,565,000 b Includes $326,980,000 noncompetitive tenders from the public. c Includes $160,410,000 noncompetitive tenders from the public. P aul A. V olcker, President.
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