nycirc_1978_08396.pdf

FEDERAL RESERVE BANKOF N E W YORK

Fiscal Agent o f the United States

Circular No. 8396July 27, 1978

T R E A S U R Y A N N O U N C E S A U G U S T Q U A R T E R L Y FIN AN C IN G

/<; /l// BanAiug an<7 Offers CoMccrwe ./Ac .Second Fedcra/ FMcrrc D^IncU

The following statement was issued yesterday by the Treasury Department:The Treasury will raise about $2,600 million of new cash ano refund $4,380 million of securities maturing

August 15, 1978, by issuing $2,500 million of 3-year notes, $3,000 million of 7-year notes, and $1,500 million of 30-year bonds.

The $4,380 million of maturing securities are those held by the public, including $195 million held, as of today, by Federal Reserve Banks as agents for foreign and international monetary authorities. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $3,237 million of the maturing securities that may be refunded by issuing additional amounts of new securities. Additional amounts of the new securities 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 offerings. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). In addition, enclosed are copies of the forms to be used in submitting tenders.

This Bank will receive tenders at the Securities Department of its Head Office and at its Buffalo Branch up to 1:30 p.m., Eastern Daylight Saving Time, on the dates specified on the reverse side of this circular as the deadlines for receipt of tenders. /I// compef/f/ve fevers, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time on the specified dates. However, for investors who wish to submit noncompetitive tenders and who find it more convenient to mail their tenders than to present them in person, the official offering circular for each offering provides that MOMCOfMpe?t'f;'ve tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later than the date preceding the date specified for receipt of tenders.

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.

Payment may be made by personal check, or an official bank check, payable on its face to the Federal Reserve Bank of New York; endorse;/ to t/n-s w;7/ not accepted. A personal check submitted with the tender, either as a deposit or for the face amount of the securities, does not have to be certified. However, in cases where only a deposit is submitted with the tender, a personal check submitted for the final payment must be certified.

As provided in the official offering circular, "in every case where full payment is not completed on time, the deposit submitted with the tender, up to 5 percent of the face amount of securities allotted, shall, at the the discretion of the Secretary of the Treasury, be forfeited to the United States."

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,

(Over)Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC

AUGUST 1978 FINANCING TO BE ISSUED AUGUST 15,1978

Amount Offered:To the p u b lic ........................................

3-Year Notes

. $2,500 million

7-Year Notes

$3,000 million

30-Year Bonds

$1,500 million

Description of Security:Term and type of security................... 3-year notes 7-year notes 30-year bonds

Series and CUSIP designation........... . Series N-1981 (CUSIP No. 912827 HX3)

Series B-1985 (CUSIP No. 912827 HY1)

Bonds of 2003-2008 (CUSIP No. 912810 CC0)

Maturity date........................................ August 15, 1981 August 15, 1985 August 15. 2008

Call d a te ................................................. . No provision No provision August 15, 2003

interest coupon r a te ............................ . To be determined, based on the average o f accepted bids

To be determined, based on the average of accepted bids

To be determined, based on the average of accepted bids

investment yield.................................... . To be determined at auction To be determined at auction To be determined at auction

Premium or discount............................ To be determined after auction To be determined after auction To be determined after auction

interest payment da tes ........................ . February 15 and August 15 February 15 and August 15 February 15 and August !5

Minimum denomination available. . . . $5,000 $1,000 $1,000

Terms of Saie:Method of sa le ...................................... . Yieid auction Yieid auction Yield auction

Accrued interest payable by investor. . None None None

Preferred allotment.............................. . Noncompetitive bid for $1,000,000 or less

Noncompetitive bid for $ 1,000,000 or less

Noncompetitive bid for $1,000,000 or less

Deposit requirement............................ . 5% of face amount 5% of face amount 5% of face amount

Deposit guarantee by designated institutions......................................... Acceptable Acceptable Acceptable

Key Dates:Deadline for receipt of tenders........... Tuesday, August 1,1978

by 1:30 p.m., EDSTWednesday, August 2, 1978

by 1:30 p.m., EDSTThursday, August 3, 1978

by 1:30 p.m., EDST

Settlement date (final payment due) a) cash or Federal funds ............... Tuesday, August 15, 1978 Tuesday, August 15, 1978 Tuesday, August 15, 1978

b) check drawn on bank within FRB district where submitted .. Thursday, August 10, 1978 Thursday, August 10, 1978 Thursday, August 10, 1978

c) check drawn on bank putside FRB district where submitted /.

'' ' ' * 7 .*** ' ;Wednesday, August 9,1978 Wednesday, August 9, 1978

. . ^ \ ' i t . - Wednesday, August 9, 1978

Delivery date for coupon securities . . Tuesday, August IS, 1978 Tuesday, August 15, 1978 Monday, August 21, 1978

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PR

IVA

CY

AC

T S

TA

TE

ME

NT

— T

he in

divi

dual

ly id

entif

iabt

e in

form

atio

n re

quir

ed o

n th

is fo

rm is

nec

essa

ry t

o pe

rmit

the

subs

crip

tion

to b

e pr

oces

sed

and

the

secu

ritie

s to

be

issu

ed.

If re

gist

ered

sec

uriti

es

are

requ

este

d, th

e re

guia

tions

gov

erni

ng U

nite

d St

ates

sec

uriti

es (D

epar

tmen

t Cir

cula

r N

o. 3

00) a

nd t

he o

fferi

ng c

ircu

lar

requ

ire

subm

issi

on o

f soc

ia! s

ecur

ity n

umbe

rs; t

he n

umbe

rs a

nd o

ther

info

rmat

ion

are

used

in

ins

crib

ing

the

secu

ritie

s an

d es

tabl

ishi

ng a

nd s

ervi

cing

the

ow

ners

hip

and

inte

rest

rec

ords

. Th

e tr

ansa

ctio

n wi

t) no

t be

com

ptet

ed u

nles

s at

) re

quir

ed d

ata

is fu

rnis

hed.

Form NA

T E N D E R F O R T R E A S U R Y N O T E S O F SERIES N-1981

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, August 1, 1978

Dated August 15, 1978 Due August 15, 1981

FEDERAL RESERVE BANK OF NEW YORK. Dated atFisca! Agent of the United States.

New York. N.Y. !0045

Tiic undersigned hereby offers to purchase the above-described securities in the amount indicated beiow, and agrees to make payment therefor at your Bank on or before the issue date at the price awarded on this tender.

COMPETITIVE TENDER Do MO? /?// /?Of/t Cbfnpfftf/veUMt/AoMCOfMpehftvf fenders on one /orn;

NONCOMPETITIVE TENDER

$ ........................................................................ (maturity value)or any iesser amount that may be awarded.

Y ie ld :..........(Yte/J must be expressed wdb not more fban two

deedna/ p/aces. /or examp/e. 7. / /)

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and on the reverse side ((/ gecM/it/cs are cfeMrct/, p/ease a/so comp/e/e gcAet/MJe on reverse sM?e)

$ ........................................................................(maturity value)(Aot fo exceed 3/.000.000 /or one bidder fbroagb a// sources)

at the average price of accepted competitive bids.

Pieces Denomination Maturity value

XXX x x x x x x XXX XXX XXX

$ 5,000

10,000

100,000

1,000,000

Totals

D Deiiver over the counter to the undersigned (1)

D Ship to the undersigned (2)D Ho)d in safekeeping (for member

bank onty) in —D investment Account (4) n Genera) Account (5) n Trust Account (6)

Q Hoid as collateral for Treasury Tax and Loan Account* (7)

Q Wire to

Payment wii! be made as follows:1 By charge to our reserve account (D)] By cash or check in Onmed/afe/v avadab/f /finds (F)

j By surrender of maturing securities (E) ] By charge to my correspondentbank...................................................... (D)

(Name of bank)

D Special instructions (3)

(Exact Receiving Bank Wire Address/Account). (8)

* The undersigned certifies that the aiiotted securities wiii be owned soieiy by the undersigned.(If a commercial bank or dealer is subscribing for its own account or for account of customers, the following

certifications are made a part o f this tender.)W E H E R E B Y C E R T IF Y that we have not made and will not make any agreements for the sale or purchase of

any securities of this issue prior to the closing time for receipt o f this tender.

W E F U R T H E R C E R TIFY that we have received tenders from customers in the amounts set forth opposite their names on the list which is made a part of this tender, and that we have received and are holding for the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering circular.

W E F U R T H E R C E R T IF Y that tenders received by us, if any, from other commercial banks or primary dealers for their own account, and for the account of their customers, have been entered with us under the same conditions, agreements, and certifications set forth in this form.

/TMerf f/nj fewJer wt Apecta/ enve/ope marked

"T enderybr Trea^a/y M)fas or /?o?M%s "

(Institutions submitting tenders for customer account must list customers' names on lines below or on an attached rider)

INSTRUCTIONS:1. No tender for less than $5,000 will be considered; and each tender must be for a multiple o f $5,000 (maturity value).2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this Bank their

positions with respect to Government securities and borrowings thereon, may submit tenders for customer account; in doing so, they may consolidate competitive tenders at tAe^owey/e/d and may consolidate noncompetitive tenders, provided a list is attached showing the name o f each bidder and the amount bid for his account. Others will not be permitted to submit tenders except for their own account.

3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured savings and loan associations. States, political subdivisions or instrumentalities thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership, foreign central banks and foreign States, dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank o f New York their positions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must be accompanied by payment o f 5 percent of the face amount of the securities applied for.

4. Payment must be completed by August 15, 1978. If payment is by check drawn on a bank in this District, it must be received by August 10, 1978; checks drawn on a bank in another District must be received by August 9, 1978. All checks must be drawn to the order of the Federal Reserve Bank o f New York; checks endorsed to this Bank will not be accepted.

5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded.

[Enc. Cir. No. 8396] (OVER)


SCHEDULE FOR iSSUE OF REGtSTERED TREASURY NOTES OF SER!ES N-1981 SUBSCFUPTiON NO

DELiVERY tNSTRUCTtONS PAYMENT tNSTRUCTtONSS U B S C R I B E R _

S I G N A T U R E _

A D D R ES S

Z I P

FI DELIVER OVER THE COUNTER Q BY CHARGE TO OURRESERVE ACCOUNT

[ 1 BY CASH OR CHECK IN/MMEDfATELY AVA/LABLE FUNDS

Q BY SURRENDER CF MATURING SECURITIES

F I BY CHARGE TO MYCORRESPONDENT BANK

QSHIP TO SUBSCRIBER

D OTHER INSTRUCTIONS:

R E G I S T R A T I O N I N S T R U C T I O N S NO. OF PIECES DENOM. A M O U N T SERIAL NOS.

(LEAVE BLANK)

N A M E ( S )

32 5 , 000

34 ! 0 , 0 0 0ID O R S . S . NO.

38 100 , 000

A D D R E S S 42 1, 000 , 000

Z I P 99 T O T A L

N A M E ( S )

32 5 , 000

ID O R S . S . NO.34 10, 000

38 100 , 000

A D D R E S S 4? 1 , 000 , 000

Z I P 99 T O T A L

N A M E ( S )32 5 , 0 0 0

34 10 , 000ID O R S . S . NO.

38 100 , 000

A D D R E S S 42 1 , 000 , 000

Z I P 99 T O T A L

N A M E ( S )32 5 , 00 0

34 10, 000

ID O R S . S . NO. 38 100,000

A D D R E S S 42 1 , 000 , 000

Z I P 99 T O T A L

N A M E ( S )32 5, 000

34 10, 000ID O R S . S . N O.

38 100 , 000

A D D R E S S 42 1 , 000 , 000

Z I P 99 T O T A L

F O R F R B U S E O N L Y

TRANS. ACCOUNTING DATE

!SSUE AGENT 12 LOAN CODE

AUGUST 15, 1978INTEREST COMP. DATE 110-01

FOR FRB USE ONLY

TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

!


Pm

VA

CY

AC

T S

TA

TE

ME

NT

— T

he in

divi

dual

ly i

dent

ifiab

le in

form

atio

n re

quir

ed o

n th

is fo

rm is

nec

essa

ry t

o pe

rmit

the

subs

crip

tion

to b

e pr

oces

sed

and

the

secu

ritie

s to

be

issu

ed.

!f re

gist

ered

sec

uriti

es

are

requ

este

d, t

he r

egul

atio

ns g

over

ning

Uni

ted

Stat

es s

ecur

ities

(Dep

artm

ent

Circ

utar

No.

300

) and

the

offe

ring

cir

cuia

r re

quir

e su

bmis

sion

of s

ocia

l se

curi

ty n

umbe

rs: t

he n

umbe

rs a

nd o

ther

info

rmat

ion

are

used

in

ins

crib

ing

the

secu

ritie

s an

d es

tabh

shin

g an

d se

rvic

ing

the

owne

rshi

p an

d in

tere

st r

ecor

ds.

The

tran

sact

ion

wit)

not

be c

ompe

ted

unie

ss a

t) re

quir

ed d

ata

is fu

rnis

hed.

Form BA

T E N D E R F O R 30 -Y E A R T R E A S U R Y B O N D S OF 2003-2008

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, August 3,1978

Dated August 15, 1978 Due August 15, 2008

FEDERAL RESERVE BANK OF NEW YORK. Fisca) Agent of the United States.

New York. N.Y. 10045

Dated at

, 19 . .

The undersigned hereby offers to purchase the above-described securities in the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date at the price awarded on this tender.

COMPETITIVE TENDER Do not /?// <n hot): Cowpcfa/veand NONCOMPETITIVE TENDER

$ ........................................................................ (maturity value)or any lesser amount that may be awarded.

Y ie ld :..........(Y«'/J mm? Ac cjrprciicJ waA not more fAan two

decawa/ p/aces. /or examp/e. 7. / /)

$ ........................................................................(maturity value)(Nor to exceed J /.000.000 /br one /udder fAroagA a// sources)

at the average price of accepted competitive bids.

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and on the reverse side ((/ reg/g/erec/ yeearz//^ are c/e^/reJ. a/.so cowp/e/e scAec/n/e or; reverse .s/c/e).

Pieces Denomination Maturity value

$ 1,000

5.000

10.000

100.000

1.000.000

Totals

Q Deliver over the counter to the undersigned (!)Ship to the undersigned (2)

O Hold in safekeeping (for member bank on)y) in — n investment Account (4)D Genera! Account (5)D Trust Account (6)

r ) Fto!d as collateral for Treasury Tax and Loan Account* (7)

O Wire to

Payment wit! be made as follows:By charge to our reserve account (D)

j By cash or check in /mmed/ate/v ava//aA/c /ivaJs (F)By surrender o f maturing securities (E)

] By charge to my correspondentbank......................................................(D)

(Name of bank)

D Specia! instructions (3)

................................................................................ . . . . . ( 8)(Exact Receiving Bank Wire Address/Account)

* The undersigned certifies that the allotted securities wi!! be owned so!e)y by the undersigned.(If a commercia! bank or dea!er is subscribing for its own account or for account of customers, the following

certifications are made a part o f this tender.)W E H E R E B Y C ER TIFY that we have not made and will not make any agreements for the sale or purchase of

any securities of this issue prior to the closing time for receipt of this tender.

W E F U R T H E R C ER TIFY that we have received tenders from customers in the amounts set forth opposite their names on the list w hich is made a part o f this tender, and that we have received and are holding for the Treasury, or that we guarantee payment to the Treasury, o f the deposits stipulated in the official offering circular.

W E F U R T H E R C ER TIFY that tenders received by us. if any, from other commercia! banks or primary dealers for their ow n account, and for the account of their customers, have been entered with us under the same conditions, agreements, and certifications set forth in this form.

.specza/ enve/ope marked "7en (/eryb r Treasury Votes or T?on<Ts

NAME OF SUBSCRIBER (PLEASE PRINT OR TYPE)

ADDRESS

CITY STATE ZIP

PHONE (INCLUDE AREA CODE) SIGNATURE OF SUBSCRIBER OR AUTHORIZED SIGNATURE

TITLE OF AUTHORIZED SIGNER

(Institutions submitting tenders for customer account must !ist customers' names on tines below or on an attached rider)

INSTRUCTIONS:1. No tender for )ess than $1,000 wi!! be considered; and each tender must be for a mu!tip!e of $1,000 (maturity value).2. On!y banking institutions, and dealers who make primary markets in Government securities and report dai!y to this Bank their

positions with respect to Government securities and borrowings thereon, may submit tenders for customer account; in doing so. they may consolidate competitive tenders at tAe same ym/</ and may consohdate noncompetitive tenders, provided a list is attached showing the name of each bidder and the amount bid for his account. Others wi!! not be permitted to submit tenders except for their own account.

3. Tenders wi!! be received without deposit from commercia! and other banks for their own account, Federally-insured savings and !oan associations. States, pohtica! subdivisions or instrumentahties thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership, foreign central banks and foreign States, dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank o f New York their positions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must be accompanied by payment of 5 percent o f the face amount o f the securities applied for.

4 Payment must be completed by August 15, 1978. If payment is by check drawn on a bank in this District, it must be received by August 10, 1978; checks drawn on a bank in another District must be received by August 9, 1978. AH checks must be drawn to the order o f the Federal Reserve Bank o f New York; checks endorsed to this Bank will not be accepted.

5. If the language o f this tender is changed in any respect that, in the opinion o f the Secretary o f the Treasury, is material, the tender may be disregarded.

fEnc. Cir. No. 8396] (OVER)


SCHEDULE FOR !SSUE OF REG!STERED 30-YEAR TREASURY BONDS OF 2003-2008 SUBSCR!PT!ON NO

DEUVERY !NSTRUCT)ONS PAYMENT )NSTRUCT)ONSS U B S C R I B E R

S I G N A T U R E _

A D D R E S S ____

Z I P

F I DELIVER OVER THE COUNTER Q BY CHARGE TO OURRESERVE ACCOUNT

Q BY CASH OR CHECK IN/MMED/ATELY AVA/LABLE FUNDS

Q BY SURRENDER OF MATURING SECURITIESBY CHARGE TO MY CORRESPONDENT BANK

Q SHIP TO SUBSCRIBER

Q OTHER INSTRUCTIONS:

R E G I S T R A T I O N I N S T R U C T I O N S NO. OF PIECES

DENOM. A M O U N T SERIAL NOS. (LEAVE BLANK)

N A M E ( S ) 30 1 ,000

32 5 , 000

ID O R S . S . N O .34 10, 000

38 100,000

A D D R E S S 42 1, 000 , 000

Z I P 99 T O T A L

N A M E ( S ) 30 1,000

32 5, 000

ID O R S . S . N O .34 10, 000

38 100,000

A D D R E S S 4? 1 , 000 , 000

Z I P 99 T O T A L

N A M E ( S ) 30 1, 000

32 5 , 000

34 10, 000ID O R S . S . NO.

38 100 , 000

A D D R E S S 42 1, 000 , 000

Z I P 99 T O T A L

N A M E ( S ) 30 1, 000

32 5 , 00 0

34 10, 000

ID O R S . S . NO. 38 100,000

A D D R E S S 42 1, 000 , 000

Z I P 99 T O T A L

N A M E ( S ) 30 1, 000

32 5, 000

34 10, 000ID O R S . S . N O . :

38 100 , 000

A D D R E S S 42 1, 000 , 000

Z I P 99 T O T A L


TRANS. ACCOUNTING DATE

!SSUE AGENT 12 LOAN CODE

A U G U S T 1 5 ,1 9 7 8I N T E R E S T C O M P . D A T E 110-01


TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

TR. CASE NO.

!


FORM NB

TENDER FOR TREASURY NOTES OF SERIES B-1985Dated August 15, 1978 Due August 15, 1985

IMPORTANT— Closing time for receipt of this tender is 1:30 p.m., Wednesday, August 2, 1978

! oc

*3 ^

FEDERAL RESERVE B A N K OF N E W Y O R K ,

Fiscal Agent of the United States,New York, N.Y. 10045

Dated at, 19.

The undersigned hereby offers to purchase the above-described securities in the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date at the price awarded on this tender.

COMPETITIVE TENDER D o MO? / I? / !M &0?A C o * M ^ ? i? !W OMt?YoMCOM!^?!?iw ?^Mder^ OM OM form NONCOMPETITIVE TENDER

$........................................................ (maturity value)or any lesser amount that may be awarded.

Yield: ...............(Ffc/d MHO? w i t / t MO? tuoro ?/:oM ?wo

dccuwa? for 7.D )

$....................................................... (maturity value)("Do? ?o ,000,000 for one Oidcfer ?AroMpA oM sources)at the average price of accepted competitive bids.

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and on the reverse side (i/ re^M^rcd yecaWhM arc desired, a/jo c o a w reverse yide) ;

Pieces Denominations Maturity value

$ 1,000

5,000

10,000

100,000

1,000,000

Totals

D Deliver over the counter to the undersigned (1)

Q Ship to the undersigned (2) n Hold for safekeeping (for member

bank only) in—Q Investment Account (4)D General Account (5)Q Trust Account (6)

D Hold as collateral for Treasury Tax and Loan Account* (?)

D Wire to

Payment will be made as follows:Q By charge to our reserve account (D) n By cash or check in fwmcdfatf fy

am:7a&/<? fMM& (F )D By surrender of maturing securities (E ) Q By charge to my correspondent

bank ..............................- ................ ... (D)

D Special instructions (3)

.......................................................................................................(8)

* The undersigned certifies that the allotted securities will be owned solely by the undersigned.(I f a commercial bank or dealer is subscribing for its own account or for account of customers, the following

certifications are made a part of this tender.)

WE HEREBY CERTIFY that we have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the closing time for receipt of this tender.

WE FURTHER CERTIFY that we have received tenders from customers in the amounts set forth opposite their names on the list which is made a part of this tender, and that we have received and are holding for the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering circular.

WE FURTHER CERTIFY that tenders received by us, if any, from other commercial banks or primary dealers for their own account, and for the account of their customers, have been entered with us under the same conditions, agreements, and certifications set forth in this form.

Name of Subset,ber (Please Pr.nt or Type)

Insert this tender in special envelope marked "Tender /or Treasury

Notes or Bonds"

Address

City State Zip

Phone (Include Aren 0*1 .)

Title of Authorized Signer

(Institutions submitting tenders for customer account must list customers' names on lines below or on an attached rider)

(Name of customer)

IN ST R U C T IO N S:1. No tender for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 (maturity value).2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this

Bank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account; in doing so, they may consolidate competitive tenders a? tAf ^a wc ytcM and may consolidate noncompetitive tenders, provided a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit tenders except for their own account

3. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership, foreign centra! banks and foreign States, dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions with respect to Government securities and borrowings thereon, and Government accounts. Tenders from others must be accompanied by payment of 5 percent of the face amount of the securities applied for.

4. Payment must be completed by August 15, 1978. If payment is by check drawn on a bank in this District, it must be received by August 10, 1978; checks drawn on a bank in another District must be received by August 9, 1978. All checks must be drawn to the order of the Federal Reserve Bank of New Y ork ; checks endorsed to this Bank will not be accepted.

5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded.

[Enc. Cir. No. 8396] (OVER)


!

SCHEDULE FOR !SSUE OF REG!STERED TREASURY NOTES OF SER!ES B-1985 SUBSCR!PT!ON NO.

SUBSCRtBER.

StGNATURE—

ADDRESS------

ZtP.

DELtVERY tNSTRUCTtONS

D DELtVER OVER THE COUNTER

D SHtP TO SUBSCRIBER

D OTHER tNSTRUCTtONS:

PAYMENT )NSTRUCT)ONS

r i BY CHARGE TO OUR RESERVE ACCOUNT

n BY CASH OR CHECKtN /MMEDMTfLV AVA/LABLE FUNDS

r] BY SURRENDER OF MATURING SECURITIES

Q BY CHARGE TO MY CORRESPONDENT BANK

REGtSTRATtON tNSTRUCTtONS MO OF PIECES OENOM AMOUNT SERIAL NOS

(LEAVE BLANK) FOR FRB USE ONLY

NAME(S) 3 0 1.000

32 5.000

tD OR S.S NO. 31 10.000

38 100.000ADDRESS

42 1.000.000

ZtP 99 TOTAL TR. CASE NO.

NAME(S) 3 0 1.000

32 5.000

tD OR S S. NO.34 10.000

38 100.000ADDRESS

42 1 ,000.000

ZtP99

TOTAL TR. CASE NO.

NAME(S) 3 4 . 1.000

32 5,000

34 10.000tD OR S S NO.

38 100,000ADDRESS

42 1.000.900

ZtP 99 TOTAL TR CASE NO.

NAME(S) 3 0 1,000

32 5.000

34 10.000tD OR S.S. NO.

38 100.000

ADDRESS42 1 .000.000

ZtP 99TOTAL TR. CASE NO.

NAME(S) 3 0 1,000

325,000

3410,000

tD OR S.S. NO.38 100.000

ADDRESS42 1 .000.000

ZtP 99 TOTAL TR. CASE NO.


T R A N S A C C O U N T tN G D A T E

ISSUE AGENT 12 LOAM CODE

August 15, 1978I N T E R E S T C O M P 0 A T E 11 0 -0 !


UNITED STATES OF AMERICA TREASURY NOTES OF AUGUST 15, 1981

SERIES N-1981

DEPARTMENT CIRCULAR DEPARTMENT OF THE TREASURY,Public Debt Series - No. 17-78 OFFICE OF THE SECRETARY,

Washington, July 27, 1978.

1. INVITATION FOR TENDERS1. 1. The Secretary of the Treasury, under the authority

of the Second Liberty Bond Act, as amended, invites tenders for approximately $2,500,000,000 of United States securities, designated Treasury Notes of August 15, 1981, Series N-1981 (CUSIP No. 912827 HX 3). The securities will be sold at auction with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender.The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary authorities.

2. DESCRIPTION OF SECURITIES2. 1. The securities will be dated August 15, 1978, and

will bear interest from that date, payable on a semiannual basis on February 15, 1979, and each subsequent 6 months on August 15 and February 15, until the principal becomes payable. They will mature August 15, 1981, and will not be subject to call for redemption prior to maturity.

2. 2. The income derived from the securities is subjectto all taxes imposed under the Internal Revenue Code of 1954.The securities are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, any possession of the United States, or any local taxing authority.


- 2 -

2. 3. The securities will be acceptable to secure depositsof public monies. They will not be acceptable in payment of taxes.

2. 4. Bearer securities with interest coupons attached,and securities registered as to principal and interest, will be issued in denominations of $5,000, $10,000, $100,000, and $1,000,000. Book-entry securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted.

2. 5. The Department of the Treasury's general regulations governing United States securities apply to the securities offered in this circular. These general regulations include those currently in effect, as well as those that may be issued at a later date.

3. SALE PROCEDURES3. 1. Tenders will be received at Federal Reserve Banks

and Branches and at the Bureau of the Public Debt, Washington,D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Tuesday, August 1, 1978. Noncompetitive tenders as defined below will be considered timely if postmarked no later than Monday,July 31, 1978.

3. 2. Each tender must state the face amount of securitiesbid for. The minimum bid is $5,000 and larger bids must be in multiples of that amount. Competitive tenders must also show the yield desired, expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncompetitive tenders must show the term "noncompetitive" on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $1,000,000.

3. 3. All bidders must certify that they have not made andwill not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify


that such tenders are submitted under the same conditions, agreements, and certifications as tenders submitted directly by bidders for their own account.

3. 4. Commercial banks, which for this purpose are definedas banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account.

3. 5. Tenders will be received without deposit for theirown account from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds membership; foreign central banks and foreign states; Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by a deposit of 5% of the face amount of securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer.

3. 6. Immediately after the closing hour, tenders will beopened, followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full, and then competitive tenders will be accepted, starting with those at the lowest yields, through successively higher yields to the extent required to attain the amount offered. Tenders at the highest accepted yield will be prorated if necessary. After the determination is made as to which tenders are accepted, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 99.250. That rate of interest will be

- 3 -


- 4 -

paid on all of the securities. Based on such interest rate, the price on each competitive tender allotted will be determined and each successful competitive bidder will be required to pay the price equivalent to the yield bid. Those submitting noncompetitive tenders will pay the price equivalent to the weighted average yield of accepted competitive tenders. Price calculations will be carried to three decimal places on the basis of price per hundred, e.g., 99.923, and the determinations of the Secretary of the Treasury shall be final. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the yield. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the price equivalent to the weighted average yield of accepted competitive tenders.

3. 7. Competitive bidders will be advised of the acceptance or rejection of their tenders. Those submitting noncompetitive tenders will only be notified if the tender is not accepted in full, or when the price is over par.

4. RESERVATIONS4. 1. The Secretary of the Treasury expressly reserves the

right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary's action under this Section is final.

5. PAYMENT AND DELIVERY5. 1. Settlement for allotted securities must be made or

completed on or before Tuesday, August 15, 1978, at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined in the general regulations governing United States securities; or by check drawn to the order of the institution to which the


- 5 -

tender was submitted, which must be received at such institution no later than:

(a) Thursday, August 10, 1978, if the check is drawn on a bank in the Federal Reserve District of the institution to which the check is submitted (the Fifth Federal Reserve District in case of the Bureau of the Public Debt), or

(b) Wednesday, August 9, 1978, if the check is drawn on a bank in another Federal Reserve District.

Checks received after the dates set forth in the preceding sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Payment will not be considered complete where registered securities are requested if the appropriate identifying number as required on tax returns and other documents submitted to the Internal Revenue Service (an individual's social security number or an employer identification number) is not furnished. When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted.

5. 2. In every case where full payment is not completedon time, the deposit submitted with the tender, up to 5 percent of the face amount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the United States.

5. 3. Registered securities tendered as deposits and inpayment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) to be


- 6 -

delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities tendered in payment should be surrendered to the Federal Reserve Bank or Branch or to the Bureau of the Public Debt, Washington, D. C. 20226. The securities must be delivered at the expense and risk of the holder.

5. 4. If bearer securities are not ready for delivery onthe settlement date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such securities are available, at any Federal Reserve Bank or Branch or at the Bureau of the Public Debt, Washington, D. C. 20226. The interim certificates must be returned at the risk and expense of the holder.

5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed.

6. GENERAL PROVISIONS6. 1. As fiscal agents of the United States, Federal

Reserve Banks are authorized and requested to receive tenders, to make allotments as directed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive payment for and make delivery of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities.

6. 2. The Secretary of the Treasury may at any time issuesupplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptly provided.

Paul H. Taylor,Fiscal Assistant Secretary.


UNITED STATES OF AMERICA TREASURY NOTES OF AUGUST 15, 1985

SERIES B-1985

DEPARTMENT CIRCULAR DEPARTMENT OF THE TREASURY,Public Debt Series - No. 18-78 OFFICE OF THE SECRETARY,

Washington, July 27, 1978.


of the Second Liberty Bond Act, as amended, invites tenders for approximately $3,000,000,000 of United States securities, designated Treasury Notes of August 15, 1985, Series B-1985 (CUSIP No. 912827 HY 1). The securities will be sold at auction with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender.The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary authorities.

2. DESCRIPTION OF SECURITIES2. 1. The securities will be dated August 15, 1978, and

will bear interest from that date, payable on a semiannual basis on February 15, 1979, and each subsequent 6 months on August 15 and February 15, until the principal becomes payable. They will mature August 15, 1985, and will not be subject to call for redemption prior to maturity.



2 . 3. The securities will be acceptable to secure deposits of public monies. They will not be acceptable in payment of taxes.

2. 4. Bearer securities with interest coupons attached,and securities registered as to principal and interest, will be issued in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000. Book-entry securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted.



and Branches and at the Bureau of the Public Debt, Washington,D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Wednesday, August 2, 1978. Noncompetitive tenders as defined below will be considered timely if postmarked no later than Tuesday, August 1, 1978.

3. 2. Each tender must state the face amount of securitiesbid for. The minimum bid is $1,000 and larger bids must be in multiples of that amount. Competitive tenders must also show the yield desired, expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncompetitive tenders must show the term "noncompetitive" on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $1,000,000.

3. 3. All bidders must certify that they have not made andwill not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify

- 2 -


that such tenders are submitted under the same conditions, agreements, and certifications as tenders submitted directly by bidders for their own account.


3. 5. Tenders will be received without deposit for theirown account from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds membership; foreign central banks and foreign states; Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by a deposit of 5% of the face amount of securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer.

3. 6. Immediately after the closing hour, tenders will beopened, followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full, and then competitive tenders will be accepted, starting with those at the lowest yields, through successively higher yields to the extent required to attain the amount offered. Tenders at the highest accepted yield will be prorated if necessary. After the determination is made as to which tenders are accepted, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 98.250. That rate of interest will be


paid on all of the securities. Based on such interest rate, the price on each competitive tender allotted will be determined and each successful competitive bidder will be required to pay the price equivalent to the yield bid. Those submitting noncompetitive tenders will pay the price equivalent to the weighted average yield of accepted competitive tenders. Price calculations will be carried to three decimal places on the basis of price per hundred, e.g., 99.923, and the determinations of the Secretary of the Treasury shall be final. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the yield. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the price equivalent to the weighted average yield of accepted competitive tenders.


4. RESERVATIONS4. 1. The Secretary of the Treasury expressly reserves the

right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary's action under this Section is final.


completed on or before Tuesday, August 15, 1978, at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined in the general regulations governing United States securities; or by check drawn to the order of the institution to which the

- 4 -


tender was submitted, which must be received at such institution no later than:





5. 3. Registered securities tendered as deposits and inpayment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of theTreasury for coupon (securities offered by this circular) to be

- 5 -


- 6 -

delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities tendered in payment should be surrendered to the Federal Reserve Bank or Branch or to the Bureau of the Public Debt, Washington, D. C. 20226. The securities must be delivered at the expense and risk of the holder.





6. 2. The Secretary of the Treasury may at any time issuesupplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptly provided.



UNITED STATES OF AMERICA TREASURY BONDS OF 2003-2008

DEPARTMENT CIRCULAR DEPARTMENT OF THE TREASURY,Public Debt Series - No. 19-78 OFFICE OF THE SECRETARY,Washington, July 27, 1978.


of the Second Liberty Bond Act, as amended, invites tenders for approximately $1,500,000,000 of United States securities, designated Treasury Bonds of 2003-2008 (CUSIP No. 912810 CC 0).The securities will be sold at auction with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender. The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary authorities.

2. DESCRIPTION OF SECURITIES2. 1. The securities will be dated August 15, 1978, and will

bear interest from that date, payable on a semiannual basis on February 15, 1979, and each subsequent 6 months on August 15 and February 15, until the principal'becomes payable. They will mature on August 15, 2008, but may be redeemed at the option of the United States on and after August 15, 2003, in whole or in part, at par and accrued interest on any interest payment date or dates, on 4 months' notice of call given in such manner as the Secretary of the Treasury shall prescribe. In case of partial call, the securities to be redeemed will be determined by such method as may be prescribed by the Secretary of the Treasury. Interest on the securities called for redemption shall cease on the date of redemption specified in the notice of call.


- 2 -


2. 3. The securities will be acceptable to securedeposits of public monies. They will not be acceptable in payment of taxes.

2. 4. Bearer securities with interest coupons attached, andsecurities registered as to principal and interest, will be issued in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000. Book-entry securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted.



and Branches and at the Bureau of the Public Debt, Washington,D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Thursday, August 3, 1978. Noncompetitive tenders as defined below will be considered timely if postmarked no later than Wednesday, August 2, 1978.

3. 2. Each tender must state the face amount ofsecurities bid for. The minimum bid is $1,000 and larger bids must be in multiples of that amount. Competitive tenders must also show the yield desired, expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncompetitive tenders must show the term "noncompetitive" on the


- 3 -

tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $1 , 0 0 0 , 0 0 0 .

3. 3. All bidders must certify that they have not made andwill not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify that such tenders are submitted under the same conditions, agreements, and certifications as tenders submitted directly by bidders for their own account.


3. 5. Tenders will be received without deposit for their ownaccount from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds membership; foreign central banks and foreign states; Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by a deposit of 5% of the face amount of securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer.

3. 6. Immediately after the closing hour, tenders will beopened, followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full, and then competitive tenders will be accepted,starting with those at


- 4 -

the lowest yields, through successively higher yields to the extent required to attain the amount offered. Tenders at the highest accepted yield will be prorated if necessary. After the determination is made as to which tenders are accepted, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 92.500. That rate of interest will be paid on all of the securities. Based on such interest rate, the price on each competitive tender allotted will be determined and each successful competitive bidder will be required to pay the price equivalent to the yield bid. Those submitting noncompetitive tenders will pay the price equivalent to the weighted average yield of accepted competitive tenders. Price calculations will be carried to three decimal places on the basis of price per hundred, e.g., 99.923, and the determinations of the Secretary of the Treasury shall be final. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the yield. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the price equivalent to the weighted average yield of accepted competitive tenders.


4. RESERVATIONS4. 1. The Secretary of the Treasury expressly reserves

the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary's action under this Section is final.


comoleted on or before Tuesday, August 15, 1978, at the FederalDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined i the general regulations governing United States securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received at such institution no later than:





5. 3. Registered securities tendered as deposits and inpayment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and


- 6 -

forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) to be delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities tendered in payment should be surrendered to the Federal Reserve Bank or Branch or to the Bureau of the Public Debt, Washington, D. C. 20226. The securities must be delivered at the expense and risk of the holder.






- 7 -

6. 2. The Secretary of the Treasury may at any time issuesupplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptlyprovided.



nycirc_1978_08396.pdf

Documents

Transcript of nycirc_1978_08396.pdf