BANKING & FINANCE - Feb. 2, 1993
From Times Staff and Wire Reports
T-Bill Rates Mixed: The Treasury sold $11.6 billion of new three-month bills at an average discount rate of 2.97%, down from 2.98% last week. An additional $11.6 billion of new six-month bills was sold at an average discount rate of 3.10%, up from 3.09% last week. The three-month bill rate was the lowest since they also sold for 2.97% on Oct. 26. The new discount rates understate the actual return to investors--3.04% for three-month bills with a $10,000 bill selling for $9,924.90, and 3.19% for a six-month bill selling for $9,843.30. The discount rate reflects the price discount received when government securities are purchased at less than face value.
