BANKING & FINANCE - June 24, 1994
From Times Staff and Wire Reports
T-Bill Rates Hit Nearly 3-Year High: Interest rates on 52-week Treasury bills rose in auction to their highest level in almost three years. The average discount rate was 5.04%, up from 5.01% at the last auction May 26. It was the highest rate since 52-week bills averaged 5.12% on Oct. 17, 1991. The bills carry a coupon interest rate of 5.31%, with each $10,000 in face value selling for $9,490.40. Sales totaled $16.59 billion out of bids of $49.98 billion.
