BANKING & FINANCE - Aug. 19, 1994
From Times Staff and Wire Reports
Treasury Bill Rates Hit 3-Year High: Interest rates on 52-week bills rose in auction to the highest level in more than three years. The average discount rate was 5.36%, up from 5.20% at the last auction July 21. It was the highest rate since 52-week bills averaged 5.88% on July 25, 1991. The bills will carry an equivalent coupon interest rate of 5.67%, with each $10,000 in face value selling for $9,458.00. Sales totaled $16.79 billion out of bids of $43.61 billion.