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BOARD OP GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
R&S MR 609
Sept. 5, 1939

MONEY RATES
(Per cent per annum)
1939
July

1938
June

Aug.

OPEN-MARKET RATES IN NEW YORK CITY
Prevailing rate on:
Commercial paper (prime, 4 to 6 months)..
Bankers' acceptances (prime, 90 days),...
Time loans (Stock Exchange, 90 days).....
Rate on Stock-exchange call loans: l/
N e w , , . . . .
....
Renewal

..,.

1/2-5/8
7/16
1 1/4

1,00

1.00

1/2-5/8
7/16
1 1/4

1.00
1.00

3/4
7/l6
1 1/4

1.00
1.00

Average yield on United States obligations:
Treasury bills (91 days)
Dealersf quotation l/,
New issue.
Treasury notes, 3-5 years l/...........
Treasury bonds, 12 years and over l/

2.16

.39
2.13

.047
.71
2.51

Average yield on corporate bonds: l/
Aaa.
Baa . ......

2.89
4.84

2.92
4.91

3.18
5.49

l/ Averages of daily figures.




.04
.017
.45

.03

.006

.06