BANKING & FINANCE - Aug. 4, 1992
From Times Staff and Wire Reports
T-Bill Rates Rise: The Treasury sold $11.6 billion worth of new three-month bills at an average discount rate of 3.20%, up from 3.18% last week. Another $11.6 billion worth of new six-month bills was sold at an average discount rate of 3.30%, up from 3.27% last week. The rates were the highest since July 13, when three-month bills sold for 3.22% and the six-month rate was 3.31%. The new discount rates understate the actual return to investors--3.27% for three-month bills, with a $10,000 bill selling for $9,919.10, and 3.40% for a six-month bill selling for $9,833.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 6-month: 3.30% 3-month: 3.20%
