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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent o f the United States Circular No. 8421 September 15, 1978 Results o f Treasury's 364-Day Bill Auction 7o /l// /wcorporafed Z?<7r;/c.s an<7 7rM.s; Cowpuw/M. awt/ Couccrucd. /n fAc Jecorrd Pe<icra/ Pc^erve Dum ct. T h e follow in g auction results were a n n o u n ced by the T rea su ry D e p a r tm e n t: Tenders for $3,037 million o f 52-week Treasury bills to be dated September 19, 1978, and to mature September 18. 1979, were accepted at the Federal Reserve Banks and Treasury today [September / J ]. The details are as follows: Range of Accepted Competitive Bids DMCOMHf Pafe Price /nvesffneMf Pafe 1 High ..................................... ........................... Low ..................................... ........................... 91.972 7.9 4 0 % 8 .5 7 % 91.948 7.9 6 4 % 8 .6 0 % ............................. ........................... 91.958 7 .9 5 4 % 8 .5 9 % Average 1Equivalent coupon-issue yield. Tenders at the low price were allotted 38 percent. Total Tenders Received and Accepted Boston .................................................... New Y o r k ............................................... /tcccprccf PecetveJ P.P. Disf/icf (uwJ t/.y $ 44,0 3 0 ,0 0 0 4 ,9 1 7 ,0 3 0 ,0 0 0 $ 14,030,000 2,62 9 ,4 1 5 ,0 0 0 Philadelphia.......................................... 21,545,000 2 1 ,545,000 C le vela n d ............................................... 149,875,000 8 1 ,875,000 Richmond ............................................ 35,290,000 6,2 9 0 ,0 0 0 A t la n t a .................................................... 84,245,000 51 ,2 4 5 ,0 0 0 C h i c a g o ................................................. 2 37,655,000 5 8 ,155,000 St. L ou is................................................. 2 7 ,205,000 4 ,9 6 5 ,0 0 0 M in n ea p o lis.......................................... 49 ,0 4 0 ,0 0 0 7,040 ,0 0 0 Kansas C ity .......................................... 16,605,000 11,005,000 11,645,000 5 ,6 4 5 ,0 0 0 San F r a n c is c o ..................................... 4 5 6 ,2 4 0 ,0 0 0 142,240,000 U .S. Treasury ..................................... 3 ,450,000 3,450 ,0 0 0 T o t a l............................................... $6,053 ,8 5 5 ,0 0 0 $3,036 ,9 0 0 ,0 0 0 D a lla s...................................................... The $3,037 million o f accepted tenders includes $112 million o f noncompetitive tenders from the public and $1,2 5 9 million o f tenders from Federal Reserve Banks for themselves and as agents o f foreign and international monetary authorities accepted at the average price. An additional $311 million o f the bills will be issued to Federal Reserve Banks as agents o f foreign and international monetary authorities for new cash. PAUL A. VO LC K ER , Pr&SM/eMf.
@FedFRASER