BANKING & FINANCE - March 21, 1995

T-Bill Rates Mixed: Interest rates on short-term Treasury securities were mixed in Monday’s auction. The Treasury Department sold $12.5 billion in three-month bills at an average discount rate of 5.76%, unchanged from last week. Another $12.6 billion was sold in six-month bills at an average discount rate of 5.91%, down from 5.92%. The three-month bill rate was the lowest since they sold for 5.73% on Feb. 27. The six-month bill rate was the lowest since they averaged 5.90%, also on Feb. 27. The new discount rates understate the actual return to investors--5.94% for three-month bills, with a $10,000 bill selling for $9,854.40, and 6.19% for a six-month bill selling for $9,701.20.