Full text of G.13 Selected Interest Rates : March 3, 1978

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FEDERAL

RESERVE

statistical

release

For Immediate Release
SELECTED INTEREST RATES AND BOND PRICES
March 3, 1978
(Yields in per cent per annum) V
Weekly
Monthly
Instruments
Feb. 4
Feb. 11
Feb. 18
Feb. 25
Jan.
Feb.
Federal funds (effective rate) 2/
...
6.80
6.75
6.76
6.78
6.70
tr.78
Commercial paper (prime, 90 to 119 days).
6.76
6.76
6.77
6.78
6.75
6.76
Commercial paper (prime, 4 to 6 mos.)
6.81
6.79
6.80
6.82
6.79
6.80
Finance paper placed directly C3 to 6 mos.) . .
6.75
6.75
6.75
6.73
6.69
6.74
Bankers' acceptances (prime, 90 days) . . . . .
6.82
6.81
6.83
6.83
6.86
6.82
Prime loan (large business prime rate-majority)
8.00
8.00
а.oo
8.00
7.93
8.00
Discount rate (Federal Reserve Bank of New York)
6.50
6.50
б.50
6.50
6.37
6.50
Yields on U.S. Government securities 3/
Auction Average (Issue date):
3-month bill
6.440
6.476
6.452
6.460
6.448
6.457
6-month bill
. . . . . . . . .
6.715
6.743
6.745
6.755
6.685
6.740
1-year bill
.
6.814
Market Yields:
3-month bill .
6.42
6.44
6.48
6.45
6.44
6.45
6-month bill . .
6.70
6.73
6.79
6.75
6.70
6.74
1-year bill . . . . . . . . .
6.80
6.84
6.90
6.88
6.80
6.86
Treasury constant maturities 4/
1-year
7.28
7.31
7.38
7.38
7.28
7.34
2-year . . . . . . . .
7.47
7.52
7.61
7.64
7.49
7.57
7.58
3-year . . . . .
.
7.62
7.71
7.74
7.61
7.67
7.74
5-year
7.79
7.87
7.90
7.77
7.83
7.85
7-year
7.91
7.99
7.86
7.99
7.94
7.96
8.00
10-year . . .
8.08
8.08
7.96
8.03
8.17
8.20
8.25
20-year . . . .
8.25
8.14
8.22
8.20
8.24
8.28
8.29
30-year
. . . . . . . . .
8.18
8.25
Coupon issues due in: 5/
7.68
7.71
7.81
7.83
7.71
7.76
3 to 5 years . . . . . . . . . . . .
7.54
7.55
7.56
7.56
7.50
7.55
10 years or more (long-term) 6/ . . .
53.50
53.42
53.36
53.34
53.41
53.74
Price of long-term Treasury bonds 6/7/. . . . .
8.80
8.78
8.77
8.77
8.74
8.78
Average yields on corporate bonds (Moody's) . .
8.46
8.49
8.46
8.47
8.41
8.47
Aaa
9.21
9.20
9.19
9.21
9.17
9.20
Baa
5.30
5.20
5.27
5.20
5.20
5.24
State and local government Aaa (Moody's
1/ Average of dally figures except for &tate and local Government, wnicn are based on Thursday figures.
2/ 7-day average for statement week ended on preceding Wednesday. 3/ Bills quoted on bank discount basis.
4/ Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury Department.
5/ Unweighted average of all issues outstanding. 6/ Bonds neither due nor callable in less than 10 years.

7/ Derived from "long-term" yields above on the basis of an assumed 20-year bond with a 3 per cent coupon.

G.13

INTEREST RATES
(Yields in per cent per annum)

G.13 continued

Federal
Funds

2.18
6.79
6.78

6.78
6.75
6.59
6.74
6.71
6.70
6.83
6.92
6.83
6.75

Comm.
paper
90-119
days

3-mo
bill

6-mo
bill

1-yr
bill

6.76
6.76
6.76

6.41
6.42
6.42

6.70
6.69
6.70

6.76

6.45
6.46
6.44
6.43
6.44

6.76
6.76
6.76
6.76
M
6.76
6.76
6.76

6.78

1-yr

30-yr

6.79
6.81
6.82

7.27
7.29
7.30

7.47
7.48
7.48

7.58
7.58
7.59

7.74
7.75
7.75

7.85
7.88
7.86

7.96
7.96
7.97

8.18

8.20

8.18

6.73
6.73
6.72
6.72
6.73

6.85
6.85
6.83
6.83
6.84

7.33
7.33
7.30
7.30
7.31

7.50
7.52
7.52
7.52
7.53

7.62
7.61
7.60
7.62
7.63

7.78
7.77
7.79
7.80
7.81

7.91
7.90
7.91
7.91
7.92

7.99
7.99

8.20

6.47
6.50
6.51
6.45

6.77
6.79
6.82
6.76

K
6.87
6.90
6.94
6.87

7.34
7.37
7.42
7.37

T
7.57
7.59
7.64
7.63

7.67
7.69
7.74
7.73

C
7.84
7.87
7.90
7.88

L
7.96
7.99

0
8.05

7.99

8.09

R
6.78
6.77
6.75
6.70

K
6.91
6.90
6.84

7.41
7.39
7.37
7.34

T.
7.65
7.65
7.65
7.61

7.74
7.74
7.74
7.72

C
7.89
7.91
7.90
7.88

6.70
6.71

6.83
6.83

7.32
7.32

7.59
7.57

7.70
7.70

7.86
7.86

7.01

6.99
6.80

6.76

6.77
6.75

.
6.50
6.47
6.43
6.40

6.88

6.75
6.75

6.40
6.42

M

6.62

6.26
6.83
1/

U.S. Government Securities 1/
Treasury constant maturities
2-yr 3-yr 5-yr 7-yr 10-yr 20-yr

Bills quoted on a bank discount basis.




6.88

E

8.01
L

8.00
8.01
8.02

8.08
8.10
0

8.17

8.19
8.19

8.20
8.21
S

8.22
8.24
8.27
8.25
S

8.00
8.01

8.10
8.10

7.99
7.96

8.08
8.04

8.22

7.94
7.95

8.02

8.20
8.21

8.04

8.26
8.26
8.24

Coupons due in:
3-5 yrs . Over-10

8.20

8.22

7.68
7.68
7.68

7.54
7.54
7.54

8.24
8.24
8.24
8.24
8.24

7.70
7.70
7.70
7.71
7.72

7.55
7.55
7.55
7.55
7.56

E
8.25
8.27
8.30
8.29

D
7.77
7.82
7.84
7.82

7.57
7.55
7.57
7.55

E
8.30
8.30
8.27

D
7.83
7.84
7.83
7.80

7.57
7.57
7.56
7.55

8.25
8.25

7.78
7.78

7.54
7.54

8.28