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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9137 September 2, 1981 Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued September 3, 1981) To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: T he results o f bidding for the offering o f 91-day and 182-day T reasury bills to be issued Septem ber 3, 1981, have been released by the T reasury D epartm ent. These results are show n below: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing December 3, 1981 H i g h ............. ....... Low ............. ....... Average.......... ....... Price Discount Rate Investment Rate' 96.077 96.049 96.061 15.520% 15.630% 15.583% 16.38% 16.50% 16.45% 182-Day Treasury Bills Maturing March 4, 1982 Discount Rate Investment Rate' 15.609% 15.666% 15.646% 17.18% 17.25% 17.23% Price 92.109a 92.080 92.090 'Equivalent coupon-issue yield. E xcepting three tenders totaling $1,645,000. (11 percent of the amount of 91-day bills bid for at the low price was accepted.) (56 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Received and Accepted 91-Day Treasury Bills Maturing December 3, 1981 By F.R. District (and U.S. Treasury) Received B oston....................................... New Y o r k ................................ Philadelphia............................ Cleveland ................................ R ichm ond................................ A tla n ta ..................................... C hicago..................................... St. L o u is ................................... M inneapolis............................. Kansas C ity ............................... Dallas ....................................... San Francisco........................... $ 38,025,000 6,359,145,000 52,355,000 38,535,000 85,080,000 49,775,000 855,155,000 38,050,000 8,870,000 42,600,000 26,860,000 665,530,000 U.S. T reasury........................... T o t a l s ................................. 182-Day Treasury Bills Maturing March 4, 1982 Accepted Received Accepted 38,025,000 3,634,425,000 30,275,000 38,535,000 45,080,000 48,220,000 152,400,000 31,550,000 8,870,000 39,695,000 21,860,000 206,105,000 $ 64,705,000 6,738,040,000 88,995,000 85,780,000 64,690,000 55,135,000 590,865,000 46,060,000 14,575,000 56,625,000 25,475,000 758,215,000 205,425,000 205,425,000 184,555,000 184,555,000 $8,465,405,000 $4,500,465,000 $8,773,715,000 $4,503,960,000 $6,268,860,000 855,060,000 $2,553,920,000 855,060,000 $6,252,835,000 1,014,280,000 $2,233,080,000 1,014,280,000 $7,123,920,000 1,218,985,000 122,500,000 $3,408,980,000 968,985,000 122,500,000 $7,267,115,000 950,000,000 556,600,000 $3,247,360,000 700,000,000 556,600,000 $8,465,405,000 $4,500,465,000 $8,773,715,000 $4,503,960,000 $ $ 64,705,000 3,300,575,000 37,495,000 65,780,000 57,040,000 54,235,000 150,865,000 38,060,000 14,075,000 52,385,000 20,475,000 463,715,000 By class o f bidder Public C o m p etitiv e.................... N oncom petitive.............. S u b t o t a l s .......................... Federal R e se rv e ...................... Foreign Official Institutions . . T o t a l s ................................. ANTHONY M. So l o m o n , President.