BANKING & FINANCE - July 24, 1992
From Times Staff and Wire Reports
52-Week T-Bills Hit 29-Year Low: Interest rates on 52-week Treasury bills fell to the lowest level since 1963. The average discount rate was 3.37%, down from 3.93% at the last auction on June 25. It was the lowest rate since 52-week bills averaged 3.062% on April 10, 1963. The bills will carry an equivalent coupon interest rate of 3.51% with each $10,000 in face value selling for $9,659.30. Sales totaled $14.29 billion.
