Full text of Federal Reserve Bank of New York Circulars : Results of Auction of 2-Year Notes

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Auction Date:

January 21, 1981

RESULTS OF AUCTION OF 2-YEAR NOTES
The Department of the Treasury has accepted $4,503
million of
$8,775
million of tenders received from the public for the 2-year
notes, Series M-1983, auctioned today.
The interest coupon rate on the notes will be 13-5/8%. The range
of accepted competitive bids, and the corresponding prices at the 13-5/8%
coupon rate are as follows:

Lowest yield
Highest yield
Average yield

Bids
13.65% 1/
13.71%
13.69%

Prices
99.9f>8
99.856
99.890

Tenders at the high yield were allotted 22%.
TENDERS RECEIVED AND ACCEPTED (In Thousands)
Location
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
Totals

$

Received
121,975
6,858,165
74,610
270,530
108,250
118,170
590,480
75,160
58,590
101,310
39,050
352,710
6,045

$8,775,045

$

Accepted
55,375
3,612,485
38,610
143,010
81,095
105,170
134,175
68,860
52,590
89,810
36,995
78,510
6,045

$4,502,730

The $4,503
million of accepted tenders includes $1,077
million
of nonccmpetitive tenders and $2,971
million of competitive tenders
frcm private investors. It also includes $ 455
million of tenders at
the average price from Federal Reserve Banks as agents for foreign and
international monetary authorities in exchange for maturing securities.
In addition to the $4,503
million of tenders accepted in the
auction process, $ 461
million of tenders were accepted at the average
price frcm Government accounts and Federal Reserve Banks for their own
account in exchange for maturing securities, and $ 125
million of
tenders were accepted at the average price from Federal Reserve Banks as
agents for foreign and international monetary authorities for new cash.
1/ Excepting 2 tenders totaling $3,025,000.
Federal Reserve Bank of New York

[Ref. Cir. No. 9004]

http://fraser.stlouisfed.org/
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^ Bank of St. Louis

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