85IZ Sg Issuer 27

RNS No 8347h
THE CITY OF NEW YORK
30th October 1997 


To:    Company Announcements Office

As Agent Bank, please be advised of the following rate determined on the
30-Oct-97.

Issue:              The City of New York US$425,000,000
                    Floating Rate Euronotes due 1998-2002              

ISIN NO:            XS0072921553            
Issue Nominal:      $425,000,000      
Period:             03-Nov-97           To    03-Feb-98
Number of Days:     92
Rate:               6.01563             PCT
Denomination:       $10,000                   $100,000
Amount Payable      
Per Denomination:   $153.73                   $1,537.33


From:
John Patten
Global Trust Services, 380B
Telephone           44 (0) 1202 347935
Facsimile           44 (0) 1202 347939


END

RC GLMFGFGKLNMM

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