BANKING & FINANCE - June 23, 1992
From Times Staff and Wire Reports
Treasury Bill Rates Rise: The Treasury sold $11.7 billion of new three-month bills at an average discount rate of 3.67%, up from 3.66% last week. Another $11.6 billion of new six-month bills were sold at an average discount rate of 3.77%, up from 3.75% last week. The rates were the highest since June 8, when three-month bills sold for 3.71% and six-month bills averaged 3.83%. The new discount rates understate the actual return to investors--3.76% for three-month bills with a $10,000 bill selling for $9,907.20 and 3.90% for a six-month bill selling for $9,809.40. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 6-month: 3.77% 3-month: 3.67%
