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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States A T Q tffl/o y te j August 29, 1979 RESULTS OF AUCTION OF 4-YEAR 8-MONTH TREASURY NOTES (Notes of Series C-1984) To A ll Banking Institutions,, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department: The Department of the Treasury has accepted $2,502 million of $5,308 million of tenders received from the public for the 4-year 8 -month notes, Series C-1984, auctioned today [August 28], The range of accepted competitive bids was as follows: Lowest yield.......................9.23% Highest yield.....................9.27% Average yield.....................9.25% The interest rate on the notes will be9%%. At the 9^% rate, the above yields result in the following prices: Low-yield p ric e ............................... 99.997 High-yield price............................... 99.848 Average-yield price ......................... 99.922 The $2,502 million of accepted tenders includes $378 million of noncompetitive tenders and $2,124 million of competitive tenders from private investors, including l%of the amount of notes bid for at the high yield. In addition to the $2,502 million of tenders accepted in the auction process, $60 million of tenders were accepted at the average price from Federal Reserve Banks as agents for foreign and international monetary authorities for new cash. T homas M. T imlen , F ir s t V ice P re sid e n t.
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