BANKING & FINANCE - Oct. 15, 1993
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From Times Staff and Wire Reports
Rates on 52-Week T-Bills Fall: Interest rates on 52-week Treasury bills fell at auction to the lowest level in six months. The average discount rate was 3.25%, down from 3.27% at the last auction on Sept. 16. It was the lowest rate since 52-week bills averaged 3.13% on April 29. The bills will carry an equivalent coupon interest rate of 3.38% with each $10,000 in face value selling for $9,671.40. Sales totaled $15.9 billion out of bids of $60.1 billion.
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