BANKING & FINANCE - May 28, 1993
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From Times Staff and Wire Reports
Interest on 52-Week Treasury Bills Rises: The average discount rate was 3.40%, up from a 20-year low of 3.13% at the last auction April 29. It was the highest rate since 52-week bills averaged 3.52% on Jan. 7. The bills will carry an equivalent coupon interest rate of 3.54%, with each $10,000 in face value selling for $9,656.20. Sales totaled $14.76 billion out of bids of $37.75 billion.
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