WASHINGTON - The Treasury yesterday sold $14.25 billion of one-year bills at an average discount rate of 3.61%, up from 3.12% in the previous auction on Oct. 15.

The coupon equivalent was 3.76%. The average price was 96.350.

The Treasury received $34.41 billion of tenders for the bills and accepted $14.25 billion, including $367 million offered noncompetitively from the public and $3.59 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 $31.69 billion of the bills and received $13.68 billion.

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