BANKING & FINANCE - Aug. 3, 1993
From Times Staff and Wire Reports
Treasury Bill Rates Mixed: The Treasury Department sold $12.2 billion of new three-month bills at an average discount rate of 3.10%, the same as last week. An additional $12.3 billion of new six-month bills was sold at an average discount rate of 3.25%, up from 3.24% last week. The six-month bill rate was the highest since they averaged 3.39% 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 3.35% for a six-month bill selling for $9,835.70. The discount rate reflects the price discount received when the securities are purchased at less than face value.
