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.
  

