BANKING & FINANCE

From Times Staff and Wire Reports

Treasury Bill Rates Mixed: The Treasury sold $11.4 billion of new three-month bills at an average discount rate of 4.08%, unchanged from last week. Another $11.4 billion of new six-month bills was sold at an average discount rate of 4.19%, down from 4.27% last week. The three-month bill rate was the lowest since they sold for 4.02% on March 9. 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 4.34% for a six-month bill selling for $9,788.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.

T-Bill Auction 6-month: 4.19% 3-month: 4.08%

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