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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States fit 737 f Ju n e .29, 1978 RESULTS OF AUCTION OF 15-YEAR 1-MONTH TREASURY BONDS (Bonds of 1993) To A ll B anking Institutions, and Others Concerned, in the Second Federal Reserre District: The following statement was issued by the Treasury Department on June 28: The Department of the Treasury has accepted $1,757 million of $U,131 million of tenders received from the public for the 15-year 1-month bonds, auctioned today. The range of accepted competitive bids was as follows: Lowest yield.. ___ 8 .6 2 $!/ Highest yield.... 8 .6 3 $ Average yield.... Q.63% Excepting five tenders totaling $67,000. The interest rates on the bonds will be 8-5/8$. At the 8-5/8$ rate, the above yields result in the following prices: Low-yield price..... 100.008 High-yield price.... 99*92b Average-yield price.. 99*92U The $1,757 million of accepted tenders includes $377 million of noncompetitive tenders and $1,380 million of competitive tenders (including 9 6 $ of the amount of bonds bid for at the high yield). P a u l A. V o l c k e r , President.
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