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CCircular No. 8587 I _ June 14, 1979 _ |

TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES  

TOTALING $5,500 MILLION

F E D E R A L R E S E RV E B A N K

O F N E W Y O RK

Fiscal Agent of the United States

To Alt Banking Institutions, and Others Concerned, in the Second Federal Reserve District:

The following statement was issued yesterday by the Treasury Department:

The Department of the Treasury will auction $2,750 million of 2-year notes and $2,750 million of 4-yeanotes to refund $3,636 million of notes maturing June 30, 1979, and to raise $1,864 million new cash. The $3,63million of maturing notes are those held by the public, including $823 million currently held by Federal ReservBanks as agents for foreign and international monetary authorities.

In addition to the public holdings, Government accounts and Federal Reserve Banks, for their owaccounts, hold $454 million of the maturing securities tha t may be refunded by issuing additional amounts o f th

new notes at the average prices of accepted competitive tenders. Additional amounts of the new securities maalso be issued at the average prices to Federal Reserve Banks, as agents for foreign and international monetarauthorities, to the extent that the aggregate amount of tenders for such accounts exceeds the aggregate amounof maturing securities held by them.

Printed on the reverse side is a table summarizing the highlights of the offerings. Copies of the officia

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HIGHLIGHTS OF TREASURY 

OFFERINGS TO THE PUBLIC 

OF 2-YEAR AND 4-YEAR NOTES 

TO BE ISSUED JULY 2, 1979

(Delivery date fo r cou pon secu rities is July 6, 1979)

2-Year Notes 4-Year Notes

Amount Offered:

To the pub lic .......................................... .. $2,750 million $2,750 million

Description of Security:Term and type of security....................... .. 2-year notes 4-year notes

Series and CUSIP designation............... .. Series U-1981(CUSIP No. 912827 JS2)

Series E-1983(CUSIP No. 912827 JT0)

Maturity date.......................................... .. June 30, 1981 June 30, 1983

Call date .................................................. .. No provision  No provision

Interest coupon r a te ................................. To be determined, based on theaverage of accepted bids

To be determined, based on theaverage of accepted bids

Investment yield..................................... .. To be determined at auction To be determined at auction

Premium or disco un t............................. .. To be determined after auction To be determined after auction

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IMPORTANT— This is a standard for m. Its terms are subject to change at any time by the Treasury. This tender will be construed as a bid to purchase the 2-year notes for which the Treasury has outstanding an invitation for tenders on the date received by the Federal Reserve Bank of New York  or its Buffalo Branch.

TENDER FOR 2-YEAR TREASURY NOTES

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To 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

 New York, N.Y. 10045

Dated at

, 19.

Pursuant to the provisions of the public notice issued by the Treasury Department inviting tenders forthe current offering of 2-year Treasury notes, the undersigned hereby offers to purchase such currently offeredTreasury notes 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 fill in both Competitive and   Noncompetitive tenders on one form NONCOMPETITIVE TENDER

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

Yield: .....  .......(Yield must be expressed with not more than two 

decimal places, for example, 7.11)

$....................................................... (maturity value)

(Not to exceed $1,000,000 for one bidder through all sources)at the average price of accepted competitive bids.

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below andon the reverse side (if registered securities are desired, please also complete schedule on reverse side):

Pieces Denominations Maturity value

$ 5,000

$ 10,000

$ 100,000

$1,000,000

Totals

□ Deliver over the counter to theundersigned O)

□ Ship to the undersigned (2)□ Hold in safekeeping (for member

 bank only) in— □ Investment Account (4)□ General Account (W□ Trust Account (6)

□ Hold as collateral for TreasuryTax and Loan Account* (?)

□ Wire to

Payment will be made as follows :□ By charge to our reserve account (D)□ By cash or check in immediately 

available funds (F)□ By surrender of maturing securities (*>□ By charge to my correspondent

 bank _____ 

 _______  _________ (D)(Name of bank)

D Special instructions <3)

...................................................................................(»)( i i k i Add /A )

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SCHEDULE FOR ISSUE OF REGISTERED 2-YEAR TREASURY NOTESSUBSCR

SUBSCRIBER’S NAME

ADDRESS ______________

CITY __________________

SIGNATURE

DELIVERY INSTRUCTIONS

□ DELIVER OVER THE COUNTER

□ SHIP TO SUBSCRIBER

□ OTHER INSTRUCTIONS:

_STATE _ZIP

PAYMENT INSTRUCTIONS

□ BY CHARGE TO OUR

RESERVE ACCOUNT

□ BY CASH OR CHECK

IN I M M E D I A T E L Y A V A I L A B L E F U N D S

□ BY SURRENDER OF

MATURING SECURITIES

□ BY CHARGE TO MYCORRESPONDENT BA NK

FO

TRA

I S S U E A G

INTEREST

REGISTRATION INSTRUCTIONS NO. OFPIECES DENOM. AMOUNT

SERIAL NOS.(LEAVE BLANK) FOR FRB USE ONLY

NAME(S) 32 3,000

34 10,000

38

 — 

100,000

ID OR S.S. NO. 42 1,000,000

ADDRESS99 TOTAL

CITY STATE ZIPTR.

NAME(S) 32 5,000

34 10,000

38 100,000

ID OR S.S. NO.42 1,000,000

ADDRESS99 TOTAL

CITY STATE ZIPTR.

NAME(S)32 5,000

34 10,000

38 100,000

ID OR S.S. NO. 42 1,000,000

ADDRESS 99 TOTAL

CITY STATE ZIPTR.

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  s  u   b  s  c  r   i  p   t   i  o  n   t  o   b  e  p

  r  o  c  e  s  s  e   d  a  n   d   t   h  e  s  e  c  u  r   i   t   i  e  s   t  o   b  e

   i  s  s  u  e   d .   I   f  r  e  g   i  s   t  e  r  e   d  s  e  c  u  r   i   t   i  e  s

u   b  m   i  s  s   i  o  n  o   f  s  o  c   i  a   l  s  e  c  u  r   i   t  y  n  u  m   b  e  r  s  ;   t   h  e  n  u  m   b  e  r  s  a

  n   d  o   t   h  e  r   i  n   f  o  r  m  a   t   i  o  n  a  r  e  u  s  e   d

c  o  m  p   l  e   t  e   d  u  n   l  e  s  s  a   l   l  r  e  q  u   i  r  e   d   d  a   t  a   i  s   f  u  r  n   i  s   h  e   d .

Form NA

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, June 21, 1979

TENDER FOR TREASURY NOTES OF SERIES E-1983

Dated July 2,1979 Due June 30,198

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

 New York. N.Y. 10045

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

COMPETITIVE TENDER  Do not fil l in both Competitive and   Noncompetitive tenders on one form

NONCOMPETITIVE TENDER

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

Yield:........(Yield must be expressed with not more than two 

decimal places, for example. 7.11)

Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below anon the reverse side (if registered securities are desired, please also complete schedule on reverse side):

$ ........................................................(maturity valu(Not to exceed $1.000.000for one bidder through all sources)

at the average price of accepted competitive bid

Pieces Denomination Maturity value

$ 1,000

5,000

□ Deliver over the counter to theundersigned (1)

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

 bank only) in — □ Investment Account (4)□ G l A t (5)

Payment will be made as follows:By charge to our reserve account (Bv cash or check in immediately available funds (F)By surrender of maturing securitieBy charge to my correspondentban k

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SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES SUBSCRIPTION N

S U B S C R I B E R ’S N A M E ___________________________________________________________________________

A D D R E S S _______________________________________________________________________________________________

C I T Y ________________________________________________________S T A T E __________________________ Z IP

S I G N A T U R E __________________________________________________________________________

D E L I V E R Y I N S TR U C T I O N S

  DELIVE R OVER THE COUNTER

  s h i p  TO SUBSCRIBER

  OTHE R INSTRUCTIONS:

P A Y M E N T I N S T R U C TI O N S

  BY CHARGE TO OUR

RESERVE ACCOUNT

  BY CASH OR CHEC K IN

IMMEDIATELY AVAILABLE FUNDS

  BY SURRENDER OF

MATURING SECURITIES

  BY CHARGE TO MY

CORRESPONDENT BANK

F O R F R B U S E

TRANS. ACCOUNTI

I S SU E A G E N T 1 2

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. OFPIECES   DENOM. A MO UN T

SERIAL NOS.

(LEAVE BLANK) F O R F R B U S E O N L Y

N A M E (S )  30   1 ,000

32   5 ,000

34   10,000

38   100,000

ID O R S . S . N O .42 1 ,000 ,000

A D D R E S S99   T O T A L

C I T Y S T A T E ZI PTR. CASE NO.

NAM E(S )   30   1,000

.

32   5 ,000

34   10,000

38 100,000

ID O R S . S . N O .42   1 ,000 ,000

A D D R ESS99   T O T A L

C IT Y S T A T E Z IPTR. CASE NO.

N AMEtS )   30   1,000

32   5 ,000

34   10,000

38   100,000

ID O R S . S . N O . 42   1 ,000 ,000

A D D RES S99   T O T A L

C IT Y S T A T E Z IPTR. CASE NO.