BANKING & FINANCE - Aug. 20, 1993
From Times Staff and Wire Reports
Interest on 52-Week T-Bills Falls: The rates for the Treasury bills fell at auction to their lowest level since April. The average discount rate was 3.30%, down from 3.44% at the last auction July 22. It was the lowest rate since 52-week bills averaged 3.13% on April 29. The bills will carry an equivalent coupon interest rate of 3.43%, with each $10,000 in face value selling for $9,666.30. Sales totaled $15.3 billion out of bids of $52.1 billion.
