BANKING
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From Times Staff and Wire Reports
Yields Lower on New Bills at Auction: The average discount rate on 52-week T-bills was 4.72%, down from 5.12% at the last auction on Oct. 17. It was the lowest rate since 52-week bills averaged 4.708% on Dec. 8, 1976. The bills will carry an equivalent coupon interest rate of 4.98%, with each $10,000 in face value selling for $9,522.80. Sales totaled $12.26 billion out of bids of $50.77 billion.
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