BANKING & FINANCE - Oct. 14, 1994

T-Bill Rates Hit 3-Year High: Interest rates on 52-week Treasury bills rose in auction to the highest level in more than three years. The average discount rate was 5.72%, up from 5.38% at the last auction Sept. 15. It was the highest rate since 52-week bills averaged 5.88% on July 25, 1991. The bills will carry a coupon interest rate of 6.06%, with each $10,000 in face value selling for $9,421.60. Sales totaled $17.01 billion out of bids of $50.98 billion.