BANKING & FINANCE - Sept. 1, 1992
From Times Staff and Wire Reports
Treasury Bill Rates Rise: The Treasury Department sold $11.6 billion of new three-month bills at an average discount rate of 3.17%, up from 3.14% last week. Another $11.6 billion of new six-month bills was sold at an average discount rate of 3.26%, up from 3.24% last week. The rates were the highest since Aug. 3, when three-month bills sold for 3.20% and the six-month rate was 3.30%. The new discount rates understate the actual return to investors--3.24% for three-month bills with a $10,000 bill selling for $9,919.90 and 3.36% for a six-month bill selling for $9,835.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 3-month: 3.10% 6-month: 3.26%
