WASHINGTON -- The Treasury yesterday sold $14.77 billion of one-year bills at an average discount rate of 3.57%, down from 3.61% in the previous auction on Nov. 17.
The coupon equivalent was 3.72%. The average price was 96.390.
The Treasury received $35.14 billion of tenders for the bills and accepted $14.77 billion including $326 million offered noncompetitively from the public and $3.84 billion from Federal Reserve Banks for themselves and as agents of foreign and international monetary authorities, all at the average. The new York Federal Reserve District applied for $32.70 billion of the bills and received $14.13 billion.