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BOARD OP GOVERNORS
OF THE
FEDERAl RESERVE SYSTEM
R&S MR 540
August 3, 1938
MONEY RATES
(Percent per annum.)
1937

1938
July

June

3/4
7/16
1 1/4

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

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

1
7/16
1 1/4

1.00

1.00

1.00

1.00
1.00

.07
.05
.70
2.34

.05

.28

.67
2.31

.05
.03
.77
2.30

3.22
5.63

3.26
6.25

6.06

3.22

3.25
4.91

2.27
3.28
4.12

2.36
3.38
4.14

2.40
3.27
4.13

2.36
3.32
4.19

my

July

OFEK-MaRKET RATES IN NEW YORK CITY
Prevailing rate on;
Commercial paper (prime, 4 to 6 months).
Bankers1 acceptances (prime, 90 days).*.
Time loans (Stock Exchange, 90 days)....
Rate on Stock-exchange call loans: l/
New.
.
Renewal
.
Average yield on United States obligations
Treasury "bills
91 days l/ (dealers1 quotation)
New issue 2/% ..
Treasury notes, 3-5 years 3/\...........
Treasury bonds l/.

1.00

Average yield on corporate bonds: l/
A&a........................ v.............

Baa.............

1.00

.02

1.00

.49
1.44
2.59

RATES CHARGED CUSTOMERS BY BANKS 3/
New York City.
Eight other northern and eastern cities...
Twenty-seven southern and western cities,.

l/ Averages of daily figures5 corporate bond yields recently revised back to
January 1937.
2/ Rates shown for 1938 are on 91-day bills5 that for July 1937 is on 273-day
bills.
3/ Weighted averages of prevailing rates.