BANKING & FINANCE - April 7, 1992
From Times Staff and Wire Reports
T-Bill Rates Fall: The Treasury sold $11.5 billion in new three-month bills at an average discount rate of 3.95%, down from 4.08% last week. Another $11.5 billion in new six-month bills was sold at an average discount rate of 4.02%, down from 4.19% last week. The rates were the lowest since Feb. 18, when the three-month bill sold for 3.83% and the six-month bill for 3.93%. The new discount rates understate the actual return to investors--4.04% for three-month bills, with a $10,000 bill selling for $9,900.20, and 4.16% for a six-month bill selling for $9,796.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 6-month: 4.02% 3-month: 3.95%
