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BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
R&S MR 583
A p r i l 7, 1939

MONEY RATES
(Percent per annum)
1939
Feb,

1938
Jan.

Mar.

OPEN-MARKET RATES IN ITEW YORK CITY
P r e v a i l i n g r a t e on:
Commercial paper (prime, 4 t o 6 m o n t h s ) . .
Bankers' acceptances (prime, 90 d a y s ) , . . .
Time loans (Stock Exchange, 90 d a y s ) . . . . .
Rate on Stock-exchange c a l l l o a n s : l /

New,,.........................7.......

Renewal,,

.•

Average y i e l d on United S t a t e s o b l i g a t i o n s :
Treasury b i l l s (91 days)
Dealers' quotation l / .
New i s s u e , . . . . . . . . . . f . . . . . . . . . . . . . . . . . .
Treasury n o t e s , 3-5 years l / . . . . . . . . . . . . .
Treasury bonds, 12 years and over l / . . . . .

1/2-5/8
7/16
1 1/4

1/2-5/8
7/16
11/4

3/4-1
7/16
1 1/4

1,00

1.00

1.00
1.00

1,00

.03
.004
.63
2.44

.03
,002
,65
2,47

1,01

3.00
5,05

3,01
5.12

3.22
6.30

2.24
3.33
4.09

2.29
3*41
4,10

2.40
3.25
4.15

1.00

,08
,074

2.64

Average y i o l d on c o r p o r a t e bonds: l /
Baa..
RATES CHARGED CUSTOMERS BY BANKS Z/
Now York C i t y .
Eight othor n o r t h e r n and e a s t e r n c i t i e s . . . .
Twenty-seven southern and western c i t i e s . . .

l / Averages of d a i l y f i g u r e s ,
2 / Weighted averages of p r e v a i l i n g r a t e s .
Z/ S e r i e s i s discontinued% new s e r i e s on somewhat d i f f e r e n t b a s i s t o bo s u b s t i t u t e d .