BANKING & FINANCE - June 1, 1994
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Treasury Bill Rates Stable: The Treasury Department sold $12.8 billion of new three-month bills at an average discount rate of 4.23%, the same as last week. Another $12.7 billion of new six-month bills was sold at an average discount rate of 4.67%, up from 4.63%. The new discount rates understate the actual return to investors: 4.33% for three-month bills, with a $10,000 bill selling for $9,893.10, and 4.85% for a six-month bill selling for $9,763.90. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction
3-month: 4.23%
6-month: 4.67%
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