BANKING & FINANCE - Jan. 7, 1994
From Times Staff and Wire Reports
Rates Rise On 52-Week Treasury Bills: Interest rates on the bills rose at auction to the highest level in 13 months. The average discount rate was 3.52%, up from 3.47% at the last auction Dec. 9. It was the highest rate since 52-week bills averaged 3.57% on Dec. 10, 1992. The bills will carry an equivalent coupon interest rate of 3.67%, with each $10,000 in face value selling for $9,644.10. Sales totaled $16 billion out of bids of $63 billion.
