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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 8490 January 5, 1979 Results o f Treasury's 364-Day Bill Auction To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: The following auction results were announced by the Treasury Department: Tenders for $3,200 million of 52-week Treasury bills to be dated January 9,1980, and to mature January 8, 1980, were accepted at the Federal Reserve Banks and Treasury today [January 5]. The details are as follows: Range of Accepted Competitive Bids P rice Investm ent R a te1 90.313 90.261 90.288 High ............................... ..................... L o w ................................. ..................... A v e r a g e ......................... ..................... D iscou n t R ate 9.581% 9.632% 9.605% 10.48% 10.54% 10.51% Equivalent coupon-issue yield. Excepting two tenders totaling $915,000. Tenders at the low price were allotted 69 percent. Total Tenders Received and Accepted F .R . D is tr ic t (a nd U.S. T rea su ry ) B o s to n ............................................... New Y o r k ......................................... Philadelphia ................................... C lev ela n d ......................................... R ich m on d ......................................... A t la n t a ............................................. C h ic a g o ............................................. St. L o u is ........................................... M in n eapolis..................................... Kansas C it y ..................................... Dallas ............................................... San F r a n cis co ................................. R eceived $ A ccep ted 23,290,000 4,631,925,000 2,815,000 40,990,000 18,195,000 22,115,000 338,130,000 35,615,000 17,240,000 36,405,000 10,060,000 166,630,000 $ 23,290,000 2,801,625,000 2,815,000 30,990,000 18,195,000 18,805,000 158,130,000 21,615,000 17,240,000 31,405,000 10,060,000 60,630,000 U.S. T re a s u ry ................................. 5,420,000 5,420,000 T otal....................................... $5,348,830,000 $3,200,220,000 The $3,200 million of accepted tenders includes $178 million of noncompetitive tenders from the public and $1,290 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 $498 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. P aul A. V olcker, President
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