BANKING & FINANCE - July 23, 1993

Treasury Bill Rates Up: Interest rates on 52-week Treasury bills rose in Thursday’s auction to the highest level in six months. The average discount rate was 3.44%, up from 3.40% at the last auction June 24. It was the highest rate since 52-week bills averaged 3.52% on Jan. 7. The bills will carry an equivalent coupon interest rate of 3.58%, with each $10,000 in face value selling for $9,652.20. Sales totaled $15.3 billion, out of bids of $33.8 billion.