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BANKING & FINANCE

From Times Staff and Wire Reports

Interest Rates on 52-Week Bills Rise: Rates on the Treasury bills rose in auction to the highest level in more than four years. The average discount rate was 6.86%, up from 6.75% at the last auction Dec. 8. It was the highest rate since 52-week bills averaged 7.01% on Oct. 26, 1990. The bills will carry an equivalent coupon interest rate of 7.34%, with each $10,000 in face value selling for $9,306.40. Sales totaled $17.26 billion out of bids of $49.37 billion.


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