BANKING & FINANCE - Feb. 28, 1992
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From Times Staff and Wire Reports
Treasury Sells Cash Management Bills: The Treasury Department sold 57-day cash management bills at an average discount rate of 3.97%. The discount rate understates the actual return to investors--4.05%, with a $10,000 bill selling for $9,937.10. A total of $14.1 billion in bills were sold out of bids totaling $48.4 billion.
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