BANKING & FINANCE - Jan. 26, 1993

Short-term Treasury Bill Rates Fall: The Treasury Department sold $11.7 billion of new three-month bills at an average discount rate of 2.98%, down from 3.03% last week. An additional $11.6 billion of new six-month bills was sold at an average discount rate of 3.09%, down from 3.13% last week. The three-month bill rate was the lowest since they sold for 2.97% on Oct. 26. The six-month bill rate was the lowest since they averaged 2.95% on Oct. 13. The discount rate reflects the price discount received when government securities are purchased at less than face value.