BANKING & FINANCE - March 24, 1992
From Times Staff and Wire Reports
Treasury Bill Rates Mixed: The Treasury sold $11.5 billion in new three-month bills at an average discount rate of 4.08%, down from 4.09% last week. Another $11.5 billion in new six-month bills was sold at an average discount rate of 4.27%, unchanged from last week. The three-month bill rate was the lowest since they sold for 4.02% on March 9. The six-month bill rate was the highest since they averaged 4.39% on Dec. 2. The new discount rates understate the actual return to investors--4.18% for three-month bills, with a $10,000 bill selling for $9,896.90, and 4.43% for a six-month bill selling for $9,784.10. The discount rate reflects the price discount received when the securities are purchased at less than face value.
