BANKING & FINANCE - Sept. 17, 1993
From Times Staff and Wire Reports
Interest Rates Fall: Interest rates on 52-week Treasury bills fell at auction to the lowest level in five months. The average discount rate was 3.27%, down from 3.30% at the last auction, on Aug. 19. 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 3.40%, with each $10,000 in face value selling for $9,669.40. Sales totaled $15.3 billion out of bids of $45.4 billion.
