nycirc_1978_08263a.pdf
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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States January 25, 1978 TREASURY ANNOUNCES FEBRUARY QUARTERLY FINANCING To All Banking Institutions, and Others Concerned, in the Second Federal Resen’e District: The following statement was issued by the Treasury Department regarding its February quarterly financing: The Treasury will raise about $1,700 million of new cash and refund $5,031 million of securities maturing February 15, 1978, by issuing $2,500 million of 3-1/4-year notes, $3,000 million of 7-year notes, and $1,250 million of 27-1/4-year bonds. The bonds represent an addition to bonds which are currently outstanding. The $5,031 million of maturing securities to be refunded in the general offering are those held by the public. Government accounts and Federal Reserve Banks, for their own accounts, hold $3,358 million of maturing securities that may be refunded by issuing additional amounts of new' securities. Additional amounts of the notes and the bonds may also be issued, for new- cash only, to Federal Reserve Banks as agents for foreign and international monetary authorities. Printed on the reverse side is a table summarizing the highlights of the offering. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6356). 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. If payment is made by check, the check should be a certified personal check or an official bank check, payable on its face to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted. The tender forms for this offering will be mailed to you as soon as possible. If there is any doubt that tenders sent by mail will reach this Bank or its Branch on time, bidders should use other means of trans- mitting their tenders. A recorded message (at the Head Office — Tel. No. 212-791-5823; at the Buffalo Branch — Tel. No. 716-849-5046) provides information about this and other Treasury offerings; 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. (If the inquiry relates to competitive tenders, however, the Head Office number to call is 212-791-5465.) PAUL A. VOLCKER, President. (Over) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Transcript of nycirc_1978_08263a.pdf
F E D E R A L R E S E R V E B A N K O F N E W Y O R K
Fiscal Agent of the United States
January 25, 1978
TREASURY ANNOUNCES FEBRUARY QUARTERLY FINANCING
To All Banking Institutions, and Others Concerned, in the Second Federal Resen’e District:
The following statem ent was issued by the Treasury Departm ent regarding its February quarterly financing:
The Treasury will raise about $1,700 million of new cash and refund $5,031 million of securities maturing February 15, 1978, by issuing $2,500 million of 3-1/4-year notes, $3,000 million of 7-year notes, and $1,250 million of 27-1/4-year bonds. The bonds represent an addition to bonds which are currently outstanding.
The $5,031 million of maturing securities to be refunded in the general offering are those held by the public. Government accounts and Federal Reserve Banks, for their own accounts, hold $3,358 million of maturing securities that may be refunded by issuing additional amounts of new' securities. Additional amounts of the notes and the bonds may also be issued, for new- cash only, to Federal Reserve Banks as agents for foreign and international monetary authorities.
Printed on the reverse side is a table summ arizing the highlights of the offering. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6356).
Bidders subm itting 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.
If payment is made by check, the check should be a certified personal check or an official bank check, payable on its face to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted.
The tender forms for this offering will be mailed to you as soon as possible. If there is any doubt that tenders sent by mail will reach this Bank or its Branch on time, bidders should use other means of transm itting their tenders.
A recorded message (at the Head Office — Tel. No. 212-791-5823; at the Buffalo Branch — Tel. No. 716-849-5046) provides information about this and other Treasury offerings; 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. (If the inquiry relates to competitive tenders, however, the Head Office number to call is 212-791-5465.)
PAUL A. VOLCKER,President.
(Over)
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC FEBRUARY 1978 FINANCING
TO BE ISSUED FEBRUARY 15, 1978
Amount Offered:To the p u b lic ............................
Description of Security:Term and type of security
Series and CUSIP designation
Maturity d a te .............
Call date
Interest coupon rate .
Investment yield
Premium or discount .
Interest payment dates
Settlement date (final payment due) a) cash or Federal funds .............
3-1/4-Year Notes
$2,500 million
3-1 /4-year notes
Series M 1981 (CUSIP No. 912827 HK1)
May 15. 1981
No provision
To be determined, based on the average of accepted bids
To be determined at auction
To be determined after auction
November 15 and May 15 (first payment on Nov. 15. 1978)
Tuesday. January 31. 1978 by 1:30 p.m.. EST
Wednesday. February 15. 1978
7-Year Notes
$3,000 million
7-year notes
Series 8% A-1985 (CUSIP No. 912827 HL9)
February 15. 1985
No provision
8%
To be determined at auction
To be determined after auction
August 15 and February 15
$ 1,000
Price auction
None
Noncompetitive bid for $1,000,000 or less
50/o of face amount
Acceptable
Wednesday, February 1, 1978 by 1.30 p.m., EST
Wednesday, February 15, 1978
Friday. February 10, 1978
Thursday, February 9, 1978
Wednesday, February 15, 1978
. b) check drawn on bank withinFRB district where submitted Friday, February 10, 1978
c) check drawn on bank outsideFRB district where submitted Thursday, February 9, 1978
Delivery date for coupon securities . Wednesday, February 15, 1978
Minimum denomination available. . $5,000
Terms of Sale:Method of sa le ......................................... Yield auction
Accrued interest payable by investor. None
Preferred a llo tm en t.................................Noncompetitive bid for$1.000,000 or less
Deposit requ irem en t...............................5% of face amount
Deposit guarantee by designated institu tions............................................Acceptable
Key Dates:Deadline for receipt of tenders. .
27-1/4-Year Bonds
$1,250 million
27-1 /4-vear bonds
8-1/4% Bonds of 2000-2005 (CUSIP No. 912810 EU1)
May 15. 2005
May 15. 2000
8-1/4%
To be determined at auction
To be determined after auction
May 15 and November 15 (first payment on May 15, 1978)
$ 1,000
Price auction
$20.96685 per $1,000
Noncompetitive bid for $1,000,000 or less
5% of face amount
Acceptable
Thursday, February 2, 1978 by 1:30 p.m., EST
Wednesday, February 15. 1978
Friday. February 10, 1978
Thursday, February 9, 1978
Wednesday, February 15, 1978
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
