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4 M S & FEDERAL
G.13 "

RESERVE

OPEN MARKET MONEY RATES AND BOND PRICES

Weekly
Federal Funds (Effective Rate 1/). . . .

Mar. 1
6.15

Mar. 8
5.88

5.44

May. 22
5.38

•Mar. 29
5.53

Monthly
Feb. J Mar.,
6.24 5.54

Commercial paper (prime, 90 to 119 day).
Commercial paper (prime, 4 to 6 mos.). .
Finance Paper placed directly (3 to 6 mos.)
Bankers1 Acceptances (prime, 90 days).
Prime Loan (Large-business prime rate-majority)

6.25
6.25
6.23
6.33
8.50

6.25
6.25

6.08
6.08

6.37
.25(3/5)

6.05
6.29
8.00(3/10)

Stock Exchange call loans—going rate. . . . .

8.78

8.40

8.25

7.98

7.75

Discount rate (Federal Reserve Bank of New York)
Yields on U.S. Government Securities
Auction average:
3-month bills
. . . .
. . . . ... . . .
6-month bills

6.75

6.75

6.25(3/10)

6.25

6.25

5.455
5.675

5.637
5.742

5.376
5.473

5.542
5.669

5.583 5.544
5.674 5.635

Market Yield: 2/
3-month bills. . . . . . . . . . . . . . . .
6-month bills
1-year bills
. . . .

5.47
5.66
5.67

5.57
5.68
5.69

5.46
5.56
5.62

5.41
5.54
5.66

5.53
5.69
5.81

5.50
5.62
5.56

5.49
5.62
5.70

Market Yield:
. . . . .
Other taxable issues, 9 to 12 months
Taxable issues, 3 to 5 years . . . .
Bonds—Long-term taxable 3/. . . . .

6.04
6.83
6.64

6.07

6.03

6.06

6.20

6.67

5.97
6.85

6.10

6.67

7.05
6.75

6.18

6.86

622
655

6.88

5.95
5.95
5.90

6.11
7.75(3/18)

5.91
5.91
5.88

6.11

7.19

6.83

Price of Long-term Treasury bonds 4/ . . . .

60.00

59.82

59.81

59.14

58.54

9.26
8.57
10.32

9.25
8.59
10.31

9.24

9.28
8.69

10.38

10.28

9.34
8.78
10.29

State and Local Government Aaa (Moody's) . .

6.10

6.10

6.20

6.35

6.45

V

I
*

7-day average for statement week ended on preceding Wednesday.
Bills quoted on bank discount basis.
Includes all bonds maturing or callable in 10 years or more.
Prices derived from average market yields on the basis of an assumed 3 per cent, 20-year bond.
Average of daily figures except state and local Governments, which are based on Thursday figures.
GOVERNMENT FINANCE SECTION, FEDERAL RESERVE BOARD




APRIL 8, 1975

6.06
6.06
6.00
6.22

9.02

8.09

.50(3/24)

Average yields on corporate bonds (Moody's).
Aaa
Baa

8.61

6.36
6.33
6.24
6.35

6.61

7.00
6.73

30.27 59.33
9.33

8.62

9.28
8.67
10.29

5.96

6.28

10.43