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FEDERAL RESERVE S A N K O F NEW Y O R K Fiscal Agent of the United States Circular No. 8 7 8 3 April 2, 1980 Results of 359-D ay Bills and 77-D ay Bills To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: Results of 359-Day Bill Auction The Treasury Department has announced that tenders for $4,000 million of 52-week Treasury bills to be issued April 1, 1980, and to mature March 26, 1981, were accepted on March 26. The details are as follows: Range of Accepted Competitive Bids Price High .................................................... L o w ...................................................... A v e ra g e .............................................. 85.660a 85.543 85.581 Discount Rate Investment Rate1 14.380% 14.497% 14.459% 16.36% 16.51% 16.46% 1 Equivalent coupon-issue yield. a Excepting five tenders totaling 34.625.000. Tenders at the low price were allotted 74 percent. Total Tenders Received and Accepted By F.R. District (and U.S. Treasury) Boston................................................... New Y o rk ........................................... P hiladelphia........................................ Cleveland............................................. Richmond ........................................... A tla n ta ................................................. Chicago................................................. St. L o u is............................................. Minneapolis......................................... Kansas C i ty ........................................ D a lla s................................................... San F ran c isc o .................................... U.S. T re a s u ry .................................... T otals........................................ Received $ 43,635,000 5,427.175,000 4,755,000 61,165,000 48,730,000 51,405,000 338,770,000 47,990,000 22,920,000 20,185,000 10,160,000 339,760.000 20,955,000 Accepted $ 13,635,000 3,572,675,000 4,755,000 31.165.000 25.710.000 51.405.000 81.690.000 26.990.000 19.920.000 20.185.000 10.160.000 120,760.000 20,955.000 $6,437,605.000 $4,000,005,000 Public Com petitive........................................ N oncom petitive................................ $4,737,940,000 272,715,000 $2,300,340,000 272.715.000 Subtotals.................................. $5,010,655,000 $2,573,055,000 Federal R eserve................................ Foreign Official In stitu tio n s......... 1,098,450,000 328,500,000 1,098,450,000 328.500.000 T otals........................................ $6.437,605,000 $4,000,005,000 By class of bidder (Over) Results of 77-Day Bill A uction The Treasury D epartm ent has announced that tenders for $5,001 million of 77-day Treasury bills to be issued April 3, 1980, and to m ature June 19,1980, were accepted on March 27. The details are as follows: Range of Accepted Competitive Bids High ...................................................... L o w ................................... ..................... A v e ra g e ........................... ..................... Price Discount Rate Investment R ate1 96.449 96.375 96.395 16.602% 16.948% 16.855% 17.45% 17.83% 17.73% 1 Equivalent coupon-issue yield. Tenders at the low price were allotted 90 percent. Total Tenders Received and Accepted B y F.R. D istrict B oston..................................................... New Y o rk ............................................. P h ila d e lp h ia ......................................... C leveland............................................... Richmond ............................................. A tla n ta ................................................... C hicago................................................... St. L o u is ............................................... M inneapolis........................................... Kansas C i t y ......................................... D a lla s ..................................................... San F ra n c isc o ..................................... T o tals......................................... Received $ Accepted 84,000,000 12,112,000,000 — 62,000,000 94,000,000 20,000,000 747,000,000 30,000,000 15,000,000 5,000,000 — 732,000,000 $ 3,000,000 4,367,000,000 $13,901,000,000 $5,000,600,000 20, 000,000 28,500,000 351,900,000 4,500,000 225,700,000 An additional $40 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. A n t h o n y M. S o l o m o n , President.
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