BANKING & FINANCE - Dec. 15, 1992
From Times Staff and Wire Reports
Short-Term Treasury Rates Mixed: The Treasury sold $12.3 billion of new three-month bills at an average discount rate of 3.26%, down from 3.29% last week. An additional $12.2 billion of new six-month bills was sold at an average discount rate of 3.43%, up from 3.37% last week. The new discount rates understate the actual return to investors--3.33% for three-month bills with a $10,000 bill selling for $9,917.60 and 3.54% for a six-month bill selling for $9,826.60. The discount rate reflects the price discount received when government securities are purchased at less than face value.
