BANKING & FINANCE - Feb. 15, 1994

Treasury Bill Rates Rise: The Treasury Department sold $12.2 billion of new three-month bills at an average discount rate of 3.28%, up from 3.24% last week. Another $12.3 billion of new six-month bills was sold at an average discount rate of 3.43%, up from 3.40% last week. The three-month bill rate was the highest since they sold for 3.29% on Dec. 7, 1992. The six-month bill rate was the highest since they averaged 3.46% on Nov. 30, 1992. The new discount rates understate the actual return to investors--3.35% for three-month bills with a $10,000 bill selling for $9,917.10, and 3.54% for a six-month bill selling for $9,826.60.

T-Bill Auction

6-month: 3.43%

3-month: 3.28%