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FOR IMMEDIATE RELEASE t § 0 1985 The Department of the Treasury today announced it was postponing the auction of $7,600 million of 91-day Treasury bills and $7-600 million of 182-day Treasury bills originally scheduled for auction December 9, 1985. These postponements are temporary, pending action on legislation to raise the debt limit. Interested investors-are^advisad- to look for notice of the rescheduling of these auctions. Ron-competitive tenders will be accepted through the earlier of Wednesday. December n . 1985, or the fell© rescheduled suction. [Ref. Cir. No. 9964] jjjj- d i'l ' -9 ^ y December 11, 1985 RESCHEDULING OF TREASURY’S WEEKLY BILL AUCTIONS The following statement was issued today by the Treasury Department: The Department of the Treasury hereby amends its offering announcement of December 3, 1985, to change the auction date, closing time, and location for receipt of competitive tenders to Thursday, December 12, 1985, prior to 10:00 a.m., EST, only at the Federal Reserve Bank of New York. This rescheduling of the 91-day and 182-day Treasury bill auctions is contingent upon enactment of pending legislation to raise the public debt limit o The announcement of December 3 is further amended as follows: Wire and telephone tenders may be received at the discretion of the Federal Reserve Bank of New York. Each competitive tender for the respective issues must be for a minimum amount of $10,000,000. Competitive tenders over $10,000,000 must be in multiples of $1,000,000. Competitive tenders must show the yield desired, expressed on a bank discount rate basis with two decimals, e.g., 7.15%. Fractions must not be used. Noncompetitive tenders received in all Federal Reserve Districts and at the Treasury in Washington by close of business local time, December 11, 1985, will be accepted in the two auctions. The provision for Treasury Tax and Loan Note Option Depositaries to make payment by credit to their Treasury Tax and Loan Note Account is rescinded. All other terms and conditions in the announcement of December 3 remain the same. FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States [Ref. Cir. No. 9964] 0569C
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