BANKING & FINANCE - Nov. 23, 1993

Treasury Bill Rates Rise: The Treasury sold $13.98 billion of new three-month bills at an average discount rate of 3.14%, up from 3.11% last week. Another $14.06 billion of new six-month bills was sold at an average discount rate of 3.30%, up from 3.26% last week. The three-month bill rate was the highest since they sold for 3.15% on Jan. 4, 1993, and equals the rate of last June 7. The six-month bill rate was the highest since they averaged 3.38% on Dec. 29, 1992. The new discount rates understate the actual return to investors: 3.21% for three-month bills, with a $10,000 bill selling for $9,921.50, and 3.40% for a six-month bill selling for $9,834.10.