BANKING & FINANCE - Sept. 4, 1992
From Times Staff and Wire Reports
Treasury to Try New Way to Sell Bonds: The Treasury Department said it will try a radically new way of selling bonds that might save taxpayers money. Under a one-year experiment, the department will auction billions of dollars worth of securities using a single price rather than the current system in which notes are sold at a variety of prices. The Treasury, which raises about $1.7 trillion a year through auctions, hopes to trim its borrowing costs by attracting more investors through the simpler system. Under the new system, the Treasury will accept the lowest price needed at which the entire offering can be sold.
