Full text of G.13 Selected Interest Rates : September 6, 1978

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FEDERAL

RESERVE

Instruments
Federal funds (effective rate) 2/
.
Commercial paper (prime, 90 to 119 days). .
^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-majority)
Discount rate (Federal Reserve Bank of New York)
Yields on U.S. Government securities 3/
Auction Average (Issue date):
3-month bill
6-month bill . .
.
1-year bill
.
Market Yields:
3-month bill
.
6-month bill
1-year bill
. . . . . . . . . . . . . .
Treasury constant maturities 4/
1-yea r
.
2-year
. .
.
3-year
P
5-year
7-year
10-year
20-year
30-year
Coupon issues due in: 5/
3 to 5 years
. . . .
10 years or more (long-term) 6/ . . . .
Price of long-term Treasury bonds 6/7/ . .
Average yields on corporate bonds (Moody's) . .
Aaa
Baa
State and local government Aaa (Moody's). . . .

5/

7/
8/

release

For Immediate Release
September 6, 1978

SELECTED INTEREST RATES AND BOND PRICES
(Yields In per cent per annum) 1/

G. 13

I!

statistical

Monthly
August
July
8.04
7.81
7.83
7.85
7.90
7.91
7.65
7.66
7.98
8.02
9.00
9.01
7.23
7.43

Aug. 5
7.89
7.79
7.86
7.62
7.89
9.00
7.25

Aug. 12
7.83
7.77
7.84
7.62
7.83
9.00
7.25

Weekly
Aug. 19
7.87
7.78
7.86
7.65
7.93
9.00
7.25

6.895
7.362

6.808
7.172

6.887
7.259

7.267
7.471
7.875

7.323
7.550

7.074
7.471

7.036
7.363

6.80
7.24
7.65

6.79
7.18
7.58

7.12
7.40
7.78

7.25
7.46
7.79

7.50
7.65
7.86

7.01
7.44
7.79

7.08
7.37
7.73

8.23
8.37
8.36
8.36
8.40
8.46
8.49
8.49

8.13
8.21
8.21
8.25
8.32
8.39
8.41
8.45

8.38
8.41
8.37
8.37
8.43
8.48
8.52
8.54

8.40
8.44
8.35
8.35
8.36
8.37
8.42
8.45

8.47
8.46
8.37
8.39
8.39
8.38
8.43
8.45

8.39
8.49
8.54
8.54
8.55
8.64
8.69
8.65

8.31
8.37
8.33
8.33
8.38
8.41
8.45
8.47

8.36
7.94
50.90
9.16
8.76
9.57
5.65

8.22
7.85
51.47
9.07
8.66
9.48
5.55

8.34
7.93
56.96
9.08
8.70
9.47
5.50

8.33
7.84
51.51
9.07
8.69
9.46
5.60

8.36
7.82
51.68
9.05
8.67
9.46
5.50

8.54
8.09
49.97
9.22
8.88
9.60
5.80

8.31
7.87
51*32
9.08
8.69
9.48
5.56

Aug. 26
8.14
7.88
7.95
7.67
8.07
9.00
7.75 9/

Sept. 2
8.28
7.97
8.03
7.74
8.19
9.25 8/
7.75

Average of daily figures except for State and local government, which are based on Thursday figures.
7-day average for statement week ended on preceding Wednesday. 3/ Bills quoted on bank discount basis.
Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury Department.
Unweighted average of all issues outstanding. §J Bonds neither due nor callable in less than 10 years,
including a number of very low yielding "flower" bonds.
Derived from "long-term" yields above on the basis of an assumed 20-year bond with a 3 per cent coupon.
Effective August 31. 9f Effective August 21.




INTEREST RATES
(Yields in per cent per annum)

G.13 continued
Federal
funds

Comm.
paper
90-119
days

3—mo
bill

6-mo
bill

1-yr
bill

1-yr

2-yr

Treasury constant maturities
7-yr
5-yr
10-yr
20-yr
3-yr

1
2
3
4

7.97
7.90
7.85
7.81

7.82
7.80
7.80
7.78

6.88
6.76
6.80
6.78

7.31
7.22
7.19
7.18

7.71
7.63
7.59
7.58

8.29
8.20
8.16
8.16

8.45
8,40
8.26
8.26

8.46
8.36
8.27
8.24

8.44
8.35
8.30
8.26

8.45
8.39
8.36
8.36

8.54
8.44
8.39
8.38

8.57
8.46
8.41
8.41

8.55
8.44
8.44
8.45

7
8
9
10
11

7.84
7.82
7.90
7.83
7.84

7.79
7.78
7.77
7.76
7.76

6.76
6.72
6.74
6.85
6.86

7.17
7.14
7.15
7.23
7.22

7.55
7.53
7.54
7.64
7.62

8.10
8.08
8.09
8.20
8.20

8.18
8.19
8.17
8.24
8.25

8.22
8.18
8.17
8.26
8.24

8.24
8.24
8.20
8.30
8.28

8.31
8.31
8.26
8.37
8.36

8.36
8.35
8.34
8.45
8.44

8.40
8.40
8.37
8.45
8.44

8.44
8.42
8.41
8.48
8.48

14
15
16
17
18

7.92
7.90
7.93
7.99
8.04

7.76
7.76
7.77
7.80
7.82

6.88
6.99
7.24
7.19
7.30

7.24
7.31
7.52
7.43
7.50

7.64
7.67
7.85
7.84
7.90

8.21
8.24
8.44
8.46
8.53

8.29
8.29
8.50
8.48
8.50

8.26
8.27
8.46
8.42
8.44

8.29
8.30
8.44
8.40
8.40

8.37
8.39
8.48
8.47
8.46

8.45
8.46
8.55
8.48
8.46

8.50
8.51
8.59
8.50
8.50

8.51
8.53
8.60
8.55
8.53

21
22
23
24
25

8.24
8.24
8.38
8.20
8.20

7.88
7.87
7.87
7.87
7.89

7.26
7.28
7.22
7.24
7.24

7.48
7.49
7.42
7.45
7.44

7.85
7.83
7.75
7.78
7.76

8.47
8.44
8.35
8.38
8.35

8.47
8.47
8.42
8.41
8.41

8.39
8.38
8.33
8.33
8.34

8.39
8.38
8.31
8.33
8.32

8.40
8.40
8.32
8.35
8.33

8.41
8,41
8.32
8.35
8.34

8.45
8.45
8.38
8.41
8.41

8.48
8.48
8.42
8.44
8.43

28
29
30
31

8.31
8.37
8.45
8.40

7.93
7.97
7.97
7.98

7.33
7.45
7.48
7.54

7.52
7.63
7.66
7.68

7.82
7.85
7.88
7.87

8.42
8.45
8.49
8.48

8.41
8.44
8.48
8.46

8.35
8.35
8.39
8.38

8.30
8.37
8.42
8.42

8.33
8.36
8.42
8.42

8.35
8.37
8.42
8.39

8.41
8.42
8.44
8.43

8.43
8.45
8.47
8.46

Daily
1978
August

Xj

U.S. Government Securities 1/

Bills quoted on a bank discount basis.




30-yr