Full text of Federal Reserve Bank of New York Circulars : 8286. Results of Auction of 4-year 1-Month Treasury Notes

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F E D E R A L R E SE R V E BANK
O F N E W YORK
Fiscal Agent of the United States

6
1

I Circular No. 8286
^February 24, 197JJ

RE S U L T S OF A U C T I O N OF 4 - Y E A R 1-MONTH T R E A S U R Y NOTES
(Notes of Series G-1982)
To A ll B anking In s titu tio n s, and O thers Concerned,
in the Second F edera l R e se rv e D istrict:

T he

f o l l o w i n g s t a t e m e n t w as

i s sued F e b r u a r y

22 b y the

T r e a s u r y Depa r t m e n t :

The Department of the Treasury has accepted $2,510 million of
$5,817 million of tenders received from the public for the *+-year
1-month notes, Series G-1982, auctioned today. The range of accepted
competitive bids was as follows:
Lowest yield..... 7.87
Highest yield....7*90#
Average yield.... 7.89$

—^Excepting eleven tenders totaling $370,000.
The interest rate on the notes will be 7-7/8$. At the 7-7/8$
rate, the above yields result in the following prices:
Low-yield price.... 99*997
High-yield price... 99.89*+
Average-yield price..99*928
The $2,510 million of accepted tenders includes $3*+l million of
noncompetitive tenders and $2,169 million of competitive tenders
(including 10$ of the amount of notes bid for at the high yield) from
private investors.
In addition, $325 million of tenders were accepted at the average
price from Federal Reserve Banks as agents for foreign and international
monetary authorities for new cash.




P aul A. V olcker,

President.