ITALIAN TREASURY CUTS INTEREST ON CERTIFICATES
The Italian treasury said annual coupon
rates payable March 1988 on two issues of long-term treasury
certificates (CCTs) would be cut by about four percentage
points compared with rates this March.
    Coupon rates on 10-year certificates maturing March 1995
will fall to 9.80 pct from 13.65 pct and rates on 10-year
issues maturing in March 1996 would fall to 10.05 pct from
14.30 pct.
    The Treasury also cut by 0.60 point six-monthly coupons
payable this September on six issues maturing between September
1988 and September 1991.
    The issues carry terms of between five and seven years and
will have coupon rates of between 4.85 and 5.65 pct in
September compared with 5.45 and 6.25 pct this March.
 REUTER
