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FED ER A L RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 8333 April 28, 1978 Results of Treasury’s 364-Day Bill Auction To A ll In corporated B anks an d Trust Com panies, an d O thers Concerned, in the Second Federal R eserve D istrict: The following auction results were announced by the Treasury Department on April 26: Tenders for $2,967 million of 52-week Treasury bills to be dated May 2, 1978, and to mature May 1, 1979, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids Price 92.883 92.828 92.849 H ig h ................................................... Low ................................................... Average ............................................. D iscount R ate In vestm en t R ate ^ 7.039% 7.093% 7.072% 7.54% 7.60% 7.58% 1Equivalent coupon-issue yield. Tenders at the low price were allotted 66 percent. Total Tenders Received and Accepted F.R. D istrict (an d U.S. Treasury) Boston .......................................... New York...................................... Philadelphia.................................. Cleveland...................................... Richmond .................................... A tlan ta.......................................... C h icago ........................................ St. Louis........................................ Minneapolis.................................. Kansas City.................................. Dallas............................................ San F rancisco.............................. R eceived A c c e p te d 12,280,000 3,868,575,000 8,365,000 49,230,000 50,455,000 10,690,000 242,510,000 32,045,000 21,890,000 17,990,000 3,130,000 317,925,000 $ 12,280,000 2,539,475,000 8,365,000 40,550,000 34,455,000 10,520,000 123,510,000 16,045,000 21,890,000 10,990,000 3,130,000 142,925,000 U.S. Treasury .............................. 2,675,000 2,675,000 T o tal...................................... $4,637,760,000 $2,966,810,000 $ The $2,967 million of accepted tenders includes $77 million of noncompetitive tenders from the public and $1,208 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 $55 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