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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9284 April 29, 1982 TREASURY ANNOUNCES MAY QUARTERLY FINANCING To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following is quoted from a statement issued by the Treasury Department: The Treasury will raise about $2,900 million of new cash and refund $6,368 million of securities maturing May 15, 1982, by issuing $5,250 million of 3-year notes, and $4,000 million of 10-year notes. The $6,368 million of maturing securities are those held by the public, including $787 million held, as of April 28, 1982, by Federal Reserve Banks as agents for foreign and international monetary authorities. In addi tion to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $2,548 million of the maturing securities that may be refunded by issuing additional amounts of new securities. Additional amounts of the new securities may also be issued to Federal Reserve Banks, as agents for foreign and international monetary authorities, to the extent that the aggregate amount of tenders for such accounts exceeds the aggregate amount of maturing securities held by them. Printed on the reverse side is a table summarizing the highlights of the offerings. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). In addition, enclosed are copies of the forms to be used in submitting tenders. This Bank will receive tenders at the Securities Department of its Head Office and at its Buffalo Branch on the dates and times specified on the reverse side of this circular as the deadlines for receipt of tenders. A ll com petitive tenders, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time on the specified dates. However, for investors who wish to submit noncompetitive tenders and who find it more convenient to mail their tenders than to present them in person, the official offering cir cular for each offering provides that noncom petitive tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later than the date preceding the date specified for receipt of tenders. Bidders submitting noncompetitive tenders should realize that it is possible that the average price may be above par, in which case they would have to pay more than the face value for the securities. Payment with a tender may be in the form of a personal check, which need not be certified, an official bank check, or a Federal funds check (a check drawn by a depository institution on its Federal Reserve account). All checks must be drawn payable to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted. Payment may also be made in cash or in Treasury securities maturing on or before the issue date of the securities being purchased. Recorded messages provide information about Treasury offerings and about auction results: at the Head Office — Tel. No. 212-791-7773 (offerings) and Tel. No. 212-791-5823 (results); at the Buffalo Branch — Tel. No. 716-849-5046. Additional inquiries regarding these offerings may be made by calling, at the Head Office, Tel. No. 212-791-6619, or, at the Buffalo Branch, Tel. No. 716-849-5016. A nthony M. Solom on , President. (Over) H IG H LIG H TS OF TREASURY OFFERINGS TO THE PUBLIC M AY 1982 FIN A N C IN G SECURITIES TO BE ISSUED M AY 17, 1982 3-Year Notes 10-Year Notes Amount Offered: To the public...................................... $5,250 million $4,000 million Description of Security: Term and type of security................ 3-year notes 10-year notes Series and CUSIP designation.......... Series M-1985 (CUSIP No. 912827 NDO) Series B-1992 (CUSIP No. 912827 NE8) Maturity d a t e .................................... May 15, 1985 May 15, 1992 Call date.............................................. No provision No provision Interest coupon rate.......................... To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids Investment y ield ................................ To be determined at auction To be determined at auction Premium or discount........................ To be determined after auction To be determined after auction Interest payment dates...................... November 15 and May 15 November 15 and May 15 Minimum denomination available .. $5,000 $1,000 Yield auction Yield auction Accrued interest payable by investor .. None None Preferred allotm ent.......................... Noncompetitive bid for $1,000,000 or less Noncompetitive bid for $1,000,000 or less Full payment to be submitted with tender Full payment to be submitted with tender Acceptable Acceptable Tuesday, May 4, 1982, by 1:30 p.m., EDST Wednesday, May 5, 1982, by 1:30 p.m., EDST Monday, May 17, 1982 Monday, May 17, 1982 Thursday, May 13, 1982 Thursday, May 13, 1982 Monday, May 24, 1982 Tuesday, May 25,1982 Terms of Sale: Method of s a l e .................................. Payment by non-institutional investors........................................ Deposit guarantee by designated institutions.................................... Key Dates: Deadline for receipt of tenders........ Settlement date (final payment due from institutions) a) cash or Federal fu n d s.............. b) readily collectible ch eck .......... Delivery date for coupon securities . . .
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