BANKING & FINANCE - Oct. 26, 1993
From Times Staff and Wire Reports
T-Bill Interest Rates Rise: The Treasury Department sold $13 billion of new, three-month bills at an average discount rate of 3.08%, up from 3.06% last week. Another $13.1 billion worth of new six-month bills was sold at an average discount rate of 3.19%, up from 3.14% last week. The new discount rates understate the actual return to investors: 3.15% for three-month bills, with a $10,000 bill selling for $9,922.10, and 3.29% for a six-month bill selling for $9,838.70. The discount rate reflects the price discount received when securities are purchased at less than face value.
