Full text of G.13 Selected Interest Rates : September 11, 1973

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G. 13

OPEN MARKET MONEY RATES AND BOND PRICES

Average of Daily Figures 1/
Federal Funds (Effective Rate)*

Aug. 4
T0757

.

Commercial paper (prime, 4 to 6 mos.)
Finance Paper placed directly (3 to 6 mos.). . . .
Bankers' Acceptances (prime, 90 days)
.
Prime Loan (Large-Business Prime Rate)

9.88
8.33
9.85

Weekly
Aug. 11
Aug. 18
10.39
10.39
10.05
8.65
10.15

10.25
8.80
10.25

Aug. 25
10.52

Sept. 1
10.79

10.25
8.98
10.25

10.45
9.00
10.25

Monthly
Julv
Aug.
10.40 10.50
9.18
8.09
9.19

10.21
8.90
10.18

4/

4/

4/

4/

4/

Stock Exchange call loans—going rate

8.75

9.25

9.45

9.60

9.75

8.41

9.41

Discount rate (Federal Reserve Bank of New York) .

7.00

7.00

5/

7.50

7.50

——

——

Yields on U.S. Government Securities
Auction average:
3-month bills
6-month bills

8.320
8.476

8.486
8.650

8.976
8.943

8.910
8.856

8.668
8.577

8.oif
8.081

8.672
8.700

Market yield:**
3-month bills
6-month bills.
1-year bills

8.30
8.43
8.40

8.70
8.79
8.44

8.88
8.78
8.34

8.71
8.57
8.25

8.62
8.58
8.22

8.01
8.12
7.97

8.67
8.65
8.32

Market yield:
Other taxable issues, 9 to 12 months
Taxable issues, 3 to 5 years . . . . . . . . .
Bonds—Long-Term taxable 2/

8.94
8.02
6.90

9.13
8.16
6.97

8.91
7.80
6.83

8.61
7.50
6.74

8.53
7.35
6.62

8.37
7.49
6.53

8.82
7.75
6.81

Price of Long-Term Treasury bonds 3/

—

- —

. .

58.01

57.51

58.60

59.22

60.17

60.87

58.71

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

7.84
7.53
8.33

7.97
7.61
8.43

8.06
7.71
8.54

8.12
7.77
8.61

8.12
7.73
8.67

7.80
7.45
8.24

8.04
7.68
8.53

State and Local Government Aaa (Moody's)

5.40

5.40

5.20

5.20

5.10

5.21

5.26

1 /

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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.
Effective July 30, 8.75; August 7, 9.00; August 13, 9.25, August 22, 9.50; August 28, 9.75.
Effective August 14, 7.50.
7-day average for statement week ended on preceding Wednesday. **Bills quoted on bank discount basis.
ERNMENT FINANCE SECTION, FEDERAL RESERVE BOARD
September 11, 1973