BANKING

Treasury Bill Yields Rise: The Treasury Department sold $11.8 billion in new three-month bills at an average discount rate of 3.10%, up from 3.05% last week. Another $11.8 billion in new six-month bills was sold at an average discount rate of 3.31%, up from 3.27% last week. The three-month bill rate was the highest since they sold for 3.17% on Aug. 31. The six-month bill rate was the highest since they averaged 3.32% on July 6. The new discount rates understate the actual return to investors--3.17% for three-month bills, with a $10,000 bill selling for $9,921.60, and 3.41% for a six-month bill selling for $9,832.70. The discount rate reflects the price discount received when government securities are purchased at less than face value.