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FED ER A L RESERVE BAN K O F N EW YORK Fiscal Agent of the United States Circular No. 8 7 5 6 1 February IS, 1980 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued February 14, 1980) To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The results of bidding for the offering of 91-day and 182-day Treasury bills to be issued February 14, 1980, have been released by the Trea sury Department. These results are shown below: Range of Accepted Competitive Bids 9 1 -Day Treasury Bills Maturing May 1 5 , 19 8 0 H ig h ............................... ................. L o w ................................ ................. A v erage.......................... .................. Price Discount Rate 96.913a 96.876 96.889 1 2 .2 1 2 % 12.359% 12.307% 1 8 2 -Day Treasury Bills Maturing August 1 4 , 19 8 0 Investment R a te1 Discount Rate Price 93.829b 93.783 93.804 12.81% 12.97% 12.91% Investment R a te1 12.206% 12.297% 12.256% 13.23% 13.33% 13.28% 1Equivalent coupon-issue yield. a Excepting two tenders totaling $960,000. b Excepting one tender of $20,000. (9 percent of the amount of 91-day bills bid for at the low price was accepted.) (6 6 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Received and Accepted 9 1 -Day Treasury Bills Maturing May ig, 19 8 0 F . R . D i s t r i c t ( a n d U .S . T r e a s u r y ) B o sto n ......................................... New Y o rk .................................. Philadelphia............................... Cleveland.................................... R ichm ond................................... A tla n ta ........................................ C hicago....................................... St. L o u is...................................... M inneapolis............................... Kansas C ity ................................ D allas.......................................... San F rancisco............................ U.S. T re a su ry ............................ 80,770,000 4,059,325,000 40,105,000 36,295,000 38,525,000 61,810,000 424,535,000 57,500,000 8,410,000 58,340,000 28,940,000 353,940,000 54,610,000 T o t a l s ................................... R e c e iv e d A c c e p te d R e c e iv e d $ 1 8 2 -Day Treasury Bills Maturing August 1 4 , 19 8 0 $ 70,770,000 2,276,125,000 40,105,000 36,295,000 38,525,000 61,810,000 189,535,000 38,500,000 8,410,000 58,340,000 28,940,000 298,440,000 $ A c c e p te d 63,775,000 4,263,880,000 16,900,000 30,660,000 41,135,000 30,990,000 474,500,000 40,305,000 8,825,000 40,280,000 10,735,000 283,620,000 $ 48,775,000 2,475,205,000 16,900,000 30,660,000 39,435,000 30,990,000 214,100,000 21,305,000 8,825,000 40,280,000 10,735,000 203,620,000 54,610,000 60,380,000 60,380,000 $5,303,105,000 $3,200,405,000 $5,365,985,000 $3,201,210,000 Public Competitive ........................... Noncompetitive .................... $3,366,550,000 726,250,000 $1,263,850,000 726,250,000 $3,662,235,000 465,050,000 $1,497,460,000 465,050,000 S u bto ta ls ......................... Federal R eserv e......................... Foreign Official Institutions .... $4,092,800,000 967,205,000 243,100,000 $1,990,100,000 967,205,000 243,100,000 $4,127,285,000 965,000,000 273,700,000 $1,962,510,000 965,000,000 273,700,000 $5,303,105,000 $3,200,405,000 $5,365,985,000 $3,201,210,000 By class of bidder T otals .......................................... T homas M. T im l e n , F irst Vice President.
@FedFRASER