Weekly T-Bill Auction To Raise $7B New Cash

The Treasury Department said yesterday it will raise $6.998 billion of new cash at its weekly auction of 91-day and 182-day discount bills Monday by selling $37 billion to refund $30.002 billion of maturing securities. To be sold are $19 billion of 91s, dated Jan. 10 and due April 10, and $18 billion of 182s, dated Jan. 10 and due July 10. Federal Reserve banks hold $12.408 billion of maturing bills in their own accounts, all of which may be refunded. Also maturing is an estimated $23 billion of publicly held four-week Treasury bills, the disposition of which will be announced Jan. 7.