BANKING & FINANCE - Oct. 5, 1993
From Times Staff and Wire Reports
Treasury Bill Rates Rise: The Treasury Department sold $11.9 billion of new three-month bills at an average discount rate of 2.96%, up from 2.90% last week. An additional $11.8 billion in new six-month bills was sold at an average discount rate of 3.08%, up from 3.02% last week. The new discount rates understate the actual return to investors: 3.02% for three-month bills, with a $10,000 bill selling for $9,925.20, and 3.17% for a six-month bill selling for $9,844.30. The discount rate reflects the price discount received when government securities are purchased at less than face value.
