BANKING & FINANCE - June 22, 1993
From Times Staff and Wire Reports
Treasury Bill Rates Mixed: The Treasury Department sold $12.11 billion of new three-month bills at an average discount rate of 3.10%, up from 3.07% last week. Another $12.18 billion of new six-month bills was sold at an average discount rate of 3.19%, unchanged from last week. The three-month bill rate was the highest since they sold for 3.14% on June 7. 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 3.29% for a six-month bill selling for $9,839.70. The discount rate reflects the price discount received when government securities are purchased at less than face value.
