BANKING & FINANCE - Sept. 18, 1992
From Times Staff and Wire Reports
One-Year T-Bill Rates Fall: Interest rates on 52-week Treasury bills fell at auction to their lowest level in more than 29 years. The average discount rate was 3.02%, down from 3.28% at the last auction on Aug. 20. It was the lowest rate since 52-week bills averaged 3.015% on Jan. 9, 1963. The bills will carry an equivalent coupon interest rate of 3.13% with each $10,000 in face value selling for $9,694.60. Sales totaled $13.79 billion out of bids of $41.06 billion.