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FED ER A L RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 8310”j March 31,1978 J 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 March 29: Tenders for $3,343 million of 52-week Treasury bills to be dated April 4, 1978, and to mature April 3, 1979, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids High .............................. ...................... Low .................................................... Average .............................................. Price Discount Rate Investment Rate 1 93.065 93.040 93.047 6.859% 6.884% 6.877% 7.34% 7.37% 7.36% 1 Equivalent coupon-issue yield. Tenders at the low price were allotted 29 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 h icago........................................ St. Louis........................................ Minneapolis.................................. Kansas City.................................. Dallas............................................ San F rancisco .............................. $ 41,305,000 4,947,615,000 33,345,000 125,370,000 79,720,000 11,460,000 380,505,000 45,895,000 43,425,000 24,305,000 6,770,000 311,265,000 $ 15,305,000 2,603,555,000 31,345,000 103,270,000 61,720,000 11,460,000 219,855,000 38,895,000 34,425,000 12,305,000 6,770,000 202,030,000 U.S. Treasury .............................. 1,995,000 1,995,000 T o tal...................................... $6,052,975,000 $3,342,930,000 The $3,343 million of accepted tenders includes $85 million of noncompetitive tenders from the public and $1,296 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 $1 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.
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