Full text of G.13 Selected Interest Rates : July 3, 1974

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F E D E R A L

tatistical

R E S E R V E

release

OPEN MARKET MONEY RATES AND BOND PRICES

G.13

Average of D a i l y F i g u r e s

JL/

F e d e r a l Funds ( E f f e c t i v e R a t e ) *

June 1 | June 8
11.45
11.54

Weekly
J u n e 15 | J u n e 22
11.60
11.85

J u n e 29
11.97

Commercial paper ( p r i m e , 4 to 6 mos.)
F i n a n c i a l Paper placed d i r e c t l y (3 t o 6 mos.)
B a n k e r s ' A c c p e t a n c e s (prime, 9 0 - d a y s )

10.31
9.00
10.75

10.53
9.00
10.75

10.75
9.00
10.75

11.10
9.00
10.75

11.48
9.00
10.90

Prime Loan ( L a r g e - b u s i n e s s prime r a t e ) M a j o r i t y

11.50

11.50

11.50

11.50

4/

S t o c k Exchange C a l l L o a n s — g o i n g r a t e

Monthly
June
May
11.93
11.31
10.62
8.94
10.68

10.96
9.00
10.79
—

11.48

11.78

11.75

11.75

11.75

11.75

11.85

D i s c o u n t r a t e ( F e d e r a l R e s e r v e Bank o f New York)

8.00

8.00

8.00

8.00

8.00

- -

- -

Y i e l d on U . S . Government S e c u r i t i e s
Auction average:
3-month b i l l s
6-month b i l l s

7.983
8.205

8.300
8.426

8.260
8.324

8.177
8.175

7.841
8.003

8.430
8.496

8.145
8.232

Market Y i e l d : * *
3-month b i l l s
6-month b i l l s
1-year b i l l s

8.04
8.26
8.06

8.05
8.16
8.15

8.23
8.32
8.14

7.88
8.04
8.10

7.45
7.96
8.24

8.23
8.40
8.21

7.90
8.12
8.16

Market Y i e l d :
O t h e r t a x a b l e i s s u e s , 9 t o 12 months
Taxable i s s u e s , 3 t o 5 years
Bonds—Long-term t a x a b l e 2/

8.46
8.07
7.06

8.61
8.06
7.04

8.68
8.06
6.99

8.66
8.09
7.01

8.88
8.33
7.07

8.78
8.24
7.07

8.71
8.14
7.03

56.84

57.03

57.38

57.25

56.76

56.81

57.11

A v e r a g e y i e l d s on c o r p o r a t e b o n d s ( M o o d y ' s )
Aaa
Baa

8.75
8.39
9.23

8.78
8.40
9.26

8.81
8.40
9.29

8.87
8.49
9.37

8.94
8.57
9.44

8,68
8.37
9.10

8.85
8.47
9.34

S t a t e and L o c a l Government Aaa (Moody's)

5.95

5.90

5.95

5.96

6.00

5.89

5.95

P r i c e o f Long-term T r e a s u r y bonds 3 /

2/
3/
4/
*

i n c l u d e s a l l bond* m a t u r i n g o r c a l l a b l e i n 10 y e a r s o r m o r e .
P r i c e s d e r i v e d f r o m a v e r a g e m a r k e t y i e l d s on t h e b a s i s of a n assumed 3 p e r c e n t , 2 0 - y e a r b o n d .
E f f e c t i v e J u n e 2 6 , 1974; 1 1 . 7 5
7 - d a y a v e r a g e f o r s t a t e m e n t week e n d e d on p r e c e d i n g Wednesday. * * B i l l s q u o t e d on b a n k d i s c o u n t b a s i s .

GOVERNMENT FINANCE SECTION, FEDERAL RESERVE BOARD



JULY 3 , 1974