OTHER NEWS - Sept. 24, 1991

T-Bill Rates Mixed: The Treasury sold $10.6 billion of new three-month bills at an average discount rate of 5.18%, down from 5.19% last week. Another $10.7 billion of new six-month bills was sold at an average discount rate of 5.23%, up from 5.22% last week. The three-month bill rate was the lowest since they sold for 5.17% on Aug. 19. The six-month bill rate was the lowest since they averaged 5.30% on Sept. 9. The new discount rates understate the actual return to investors--5.33% for three-month bills with a $10,000 bill selling for $9,869.10 and 5.46% for a six-month bill selling for $9,735.60. The discount rate reflects the price discount received when government securities are purchased at less than face value.

6-month: 5.23% 3-month: 5.18%