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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9689 June 14, 1984 TMEASUMY TO AUCTION $8,§00 MILLION OF 2-YEAM NOTES To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department: T he D ep artm en t o f th e T reasury will auction $8,500 m illion o f 2-year notes to be issued July 2, 1984. This issue will provide a b o u t $3,125 m illion new cash, as the m aturing 2-year notes held by the public am o u n t to $5,373 m illion, including $697 m illion currently held by F ederal Reserve B anks as agents fo r foreign an d in ter n atio n al m o n etary authorities. In ad d itio n to the m atu rin g 2-year notes, there are $3,162 m illion o f m atu rin g 4-year notes held by the public. T he disposition o f this latter am o u n t will be announced next week. F ederal Reserve B anks as agents for foreign an d in tern a tio n al m onetary authorities currently hold $836 m illion, an d G overnm ent accounts and F ederal R eserve Banks fo r their ow n accounts hold $1,423 m illion o f m atu rin g 2-year an d 4-year notes. T he $8,500 m illion is being o ffered to the public, and any am ounts tendered by Federal Reserve B anks fo r their ow n accounts, or as agents fo r foreign an d in tern atio n al m onetary au thorities, will be added to th a t am o u n t. T enders fo r such accounts will be accepted at the average price o f accepted com petitive tenders. Printed on the reverse side is a table summarizing the highlights of the offerings. Copies of the official offering circular will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). Enclosed is a copy of a standard form for your use in submitting tenders for this offering. This Bank will receive tenders prior to 1:00 p.m., Eastern Daylight Saving time, Wednesday, June 20, 1984, at the Securities Department of its Head Office and at its Buffalo Branch. A l l c o m p e titiv e ten d e rs, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time. 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 circular provides that n o n c o m p e titiv e tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark n o la te r th a n J u n e 19 . 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 made in cash, by check, in Treasury securities maturing on or before the issue date of the securities being purchased, by a charge to an institution’s reserve account at this Bank, or, in the case of Treasury Tax and Loan Note Option Depositaries, by credit to a Treasury Tax and Loan Note Account. Payment by check must be in the form of an official bank check, a Federal funds check (a check drawn by a depository institution on its Federal Reserve account), or a personal check, which need not be certified. All checks must be drawn payable to the Federal Reserve Bank of New York; c h e c k s e n d o r s e d to this B a n k will n o t b e a c c e p te d . 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 this offering 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 n t h o n y M. So l o m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED JULY 2, 1984 A m o u n t Offered? T o th e p u b l i c ............................................................................................................. . $8,500 m illion D escription o f Security: T erm an d type o f s e c u rity ....................................................................................... . 2-year notes Series an d C U S IP d e s ig n a tio n ................................................................................ Series V-1986 (C U S IP N o. 912827 Q X3) M atu rity d a t e ........................................................................................... ................. .. Ju n e 30,1986 C all d a t e ...................................................................................................................... .. N o provision In terest r a t e ............................................................................................................... .. T o be determ ined, based on the average o f accepted bids Investm ent y ield .......................................................................................................... . T o be determ ined a t au ctio n P rem iu m o r d isc o u n t................................................................................................., T o be determ ined afte r au ctio n In terest p ay m en t dates .............................................................................................. D ecem ber 31 an d Ju n e 30 M inim um d en o m in atio n av ailab le....................................................................... ., $5,000 T erm s o f Sale: M eth o d o f s a l e ............................................................................................................. Yield auction C om petitive tenders ................................................................................................ . M ust be expressed as an an n u al yield, w ith tw o decim als, e.g., 7.10% N oncom petitive t e n d e r s ......................................................................................... . A ccepted in full a t the average price u p to $1,000,000 A ccrued interest payable by in v e sto r....................................................................., N one P ay m en t by n o n -in stitu tio n al i n v e s to r s .............................................................. . F ull paym ent to be subm itted w ith tender P ay m en t th ro u g h T reasury Tax an d L o an (TT&L) N ote A c c o u n ts ...................................................................................................... . A cceptable fo r TT& L N ote O ption D epositaries D eposit g u aran tee by designated in s titu tio n s .................... .............................. . A cceptable Key D ates: R eceipt o f t e n d e r s .................................................................................................... . W ednesday, Ju n e 20, 1984, p rio r to 1:00 p .m ., E D ST Settlem ent (final paym ent due fro m institutions) a) cash o r F ed eral fu n d s ......... ................... ....................................... . . . . . . . . M onday, July 2, 1984 b) readily collectible c h e c k ............................. .................................................. . T hursd ay , Ju n e 28, 1984
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