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FEDERAL RESERVE BANK OF NEW YORK Fiscat Agent of the United States Circular No. 8454 November 10, 1978 RESULTS OF TREASURY'S 364-DAY B!LL AUCTtON 7*6 AN incorporated Ban&s and 7*rast Companies, anti Others Concerned, in tAe Second Federa/ Feserve District/ The following auction results were announced by the Treasury Department: Tenders for $3,58? million of 52-week Treasury bills to be dated November l4, 1978, and to mature November 13, 1979s were accepted at the Federal Reserve Banks and Treasury today #]. The details are as follows: Range of Accepted Competitive Bids Discount Price High .............. 90.602 Low ............... 90.556 Average ............ 90.584 l investment Fate Pate^ 9.295% 9.340% 9*313% 10.14% 10.20% 10.17% Equivalent coupon-issue yield. Tenders at the low price were allotted 35 percent. Totai Tenders Received and Accepted F. F. District (and D.5. Treasury,) Peceived 38 ,4 6 0 ,0 0 0 Boston.............. .$ New York........ .... . 5 ,0 1 5 ,6 3 5 ,0 0 0 5 9 , 0 1 5 ,0 0 0 Philadelphia........ 1 0 5 , 9 3 0 ,0 0 0 Cleveland........... 2 8 , 0 4 0 ,0 0 0 Richmond............ 2 3 , 1 3 0 ,0 0 0 Atlanta.............. 4 1 3 , 3 6 5 ,0 0 0 Chicago............. St. Louis........... 3 6 , 6 9 5 ,0 0 0 Minneapolis......... 2 2 , 9 7 0 ,0 0 0 Kansas City......... 1 5 , 8 1 0 ,0 0 0 Dallas.............. 6 ,5 7 5 ,0 0 0 San Francisco......... 3 2 9 , 2 6 5 ,0 0 0 U.S. Treasury......... Total Accepted $ 2 8 ,4 6 0 ,0 0 0 2 ,8 5 9 ,8 8 5 ,0 0 0 5 8 ,5 15 ,0 0 0 5 7 , 9 3 0 ,0 0 0 i 9 ,o 4 o,ooo 2 3 ,13 0 ,0 0 0 3 2 3 ,5 6 5 ,0 0 0 12 ,3 9 5 ,0 0 0 2 2 ,9 6 0 ,0 0 0 8 ,8 10 ,0 0 0 6 ,5 7 5 ,0 0 0 16 0 ,2 6 5 ,0 0 0 5 , 7 3 0 ,0 0 0 5 .7 3 0 .0 0 0 $ 6 , 1 3 0 , 6 2 0 ,0 0 0 $ 3 ,5 8 7 ,2 6 0 ,0 0 0 (Over) The $3,587 million of accepted tenders includes $109 million of noncompetitive tenders from the public and $1,573 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 $306 million of the bills will be issued to Federal. Reserve Banks as agents of foreign and international monetary authori ties for new cash. PAUL A. VOLCKER, -P r e sid e d .
@FedFRASER