Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 25, 1993

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

January 25,1993

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DC. 20551




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
1.
2.
3.
4.
5.
6.
7.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
SELECTED EURO DOLLAR AND
U.S. MONEY MARKET RATES
8. INTEREST ARBITRAGE: 3-MONTH FUNDS
9. LONG-TERM GOVERNMENT BOND YIELDS
10. INDUSTRIAL STOCK INDICES




SUBSCRIPTION RATES:
Weekly $30.00 per year or $.70 each In the United
States, its possessions, Canada, and Mexico.
Elsewhere. $35.00 per year or $.80 each. Address
requests to Publications Services Division of
Support Services, and make payment remittance
payable to the order of the Board of Governors
of the Federal Reserve System in a form collectible at Par in U.S. Currency.

CHART 1

SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY

RATIO SCALE
MARCH 1973= 100
120

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110
100

RATIO SCALE
MARCH 1973=100
140

BELGIAN FRANC

—

130

—

120

90

v

Z

110

80

100

I

70
270
250
230

i

I

I

i

i

i

I

i

i

t

I

i1

1

I

1

I

I

M

/ v M

-p

/Wvv-vV

J \

i

I

I

I

I

I

I

I

I

» •

•

I

I

I

I

JAPANESE YEN

vA

210 < a r

SWISS FRANC

190

170

i

1

i

1

1

1

1

1

1

1

1

1

1 1

1

U.K. POUND

CANADIAN DOLLAR

'

120 |—

•

'

l

•

'

'

DUTCH GUILDER

I

I

I

I

'

I

I

I

I

I

I

'

I

'

'

'

I

I

I

I

i f

I

I

'

I

ITALIAN LIRA

i

'

1990




I

'

'

•

•

GERMAN MARK

FRENCH FRANC

•

i

l

•

» '
1992

I

•
1990

1992

I

I

I

I

I

CHART2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

2

2

GERMAN MARK

U.K. POUND

4

I

I

I

I

I

i

i

I

i

i

1

1

1

1 1

CANADIAN DOLLAR

JAPANESE YEN

A.
-

^

i

A

W

*

-

1

i

1

1 1

1 1

1

1

1

1

1

1

1 1 1 1 1 1 1 I

1 1

SWISS FRANC

1 I

I

I

I

1

1

DUTCH GUILDER

V

v W X v .

"VAV

2

2

4

4

6

6

8
2
+

0

I

i

i

1

I

i

i

1

i

i

1

1

1

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

1 1

ITALIAN LIRA

FRENCH FRANC

0
2

2

4
—

4

6

8

6

10

8

12
14

10
12

8
2
+

1

1 1
1990

1




1

1

1

1

1

1 1
1992

1

1

1

1

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
1990

1992

16
18

CHART3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

— 420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380 —

380

360

— 360

340 —

— 340

320

1990




1991

1992

1993

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANf

ENT PER ANNUM

16

10

14
8

U.S. FEDERAL FUNDS

12

FRANCE

10
6
8

4

6

JAPAN

4
2

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

i

i

i

l

i

i

i

I

i

i

i

I

i

i

i

2

10

10

9

9

8

8
GERMANY

NETHERLANDS
7

7

6
16

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

14

6
14

12
UNITED KINGDOM

12

—

CANADA

10

10
8
8
6

6

4

SWITZERLAND

i

i

I

1990




i

i

i

I

i

i

1992

i

I

i

i

i

i

i
1990

i

I

i

i

i

I

i

i
1992

1 I

i

i

i

4

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
15

12
WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE PAPER

U.S. CD'S

U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

FRENCH INTERBANK RATE
JAPANESE CD RATE

SWISS INTERBANK
GERMAN INTERBANK RATE

1990




1992

1990

1992

—

CHART6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANI

DENT PER ANNUM

10

OVERNIGHT

3-MONTH

8

6

4

2
14

I

I

I

I

12

I

I

1 I

I

I

1 I

I

I

I

•

'

I

I

'

I

'

I

I

'

'

I

I

'

I

I

I

I

I

I

I

I

I

I

i

i

i

I

i

i

i

6-MONTH

7-DAY

10
8
6
4
2
10

i

i

i

I

i

i

i

I

i

i

i

I

i

i

I

i

L I

I

I

1-YEAR

1-MONTH
8

6

4

2

'

I

'

1990




I

'

I

I

I

» I
1992

I

L I

I

I

i

i
1990

i

I

i

i

i

1992

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

10

10

OVERNIGHT

1-MONTH

EURO-DOLLAR DEPOSITS

8 —

EURO-DOLLAR DEPOSITS

6 —
FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

DASHED LINE

4 —

J

l

I

I

l

I

I

I

l

l

l

I

i

i

i

DIFFERENTIAL

1 I

I

I
1990




I

I

I

I

I

I

i

i
i
1992

J

i

I

i

i

i

I

i

i

i

I

i

i

i

L_L

-I

' 2
2

i

11

DIFFERENTIAL

J

L_L

J
i
1990

I

i

i
i
1992

I

i

i

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNl

tCENT PER ANNUM

10

8
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

6

4

EURO-DOLLAR DEPOSITS 1

U.S. COMMERCIAL PAPER
DASHED LINE

DASHED LINE

2

i

0

i

I

i

i

i

I

i

i

i

I

i

i

i

I

I

I

I

I

I

I

I

I

I

I

I

I

2
DIFFERENTIAL

DIFFERENTIAL
+

0

I

2
10

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

8
SWISS INTERBANK (SF) COVERED

INTERBANK DM

COVERED FRANKFURT

6

4

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

0

DASHED LINE

DASHED LINE

2

I

1 1 1 I

I

1 1 1 I

1 I

1 I

I

1 I

I

I

I

I

1 I

I

I

» I

1 I

I

I

I

I

I

2
DIFFERENTIAL

DIFFERENTIAL

/A

+

0

2

I

I

I

1990




I

I

I

I

I

I

I
1992

I

I

I

I

I

I

I
1990

I

I

I

I

I

I

I

1992

I

I

CHART9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

10

PERCENT PER ANNUM

13

(

UNITED STATES

UNITED
KINGDOM

12
11

10

5

'

i

i

I

i

'

i

I

'

'

i

l

•

» i

I T

I

I

I

12
CANADA

8
12

FRANCE

11

11

10

10

i

i i I i i i

I i

r i

I i i i

i

i

i

SWITZERLAND

i

i

i

l

i

i

i

l

i

i

l

i

i

i

l

•

i

i

i

i

i

I

i

i

» i

I

' '
i
1992

I

i

i

i

i
GERMANY

I




i

JAPAN

NETHERLANDS

1990

l

i

i i
1992

I

i

i

i

» i i
1990

I

i

CHART 10

STOCK INDICES
WEEKLY SERIES
SCALE

200

RATIO S
198

100

UNITED STATES

UNITED KINGDOM

180

160
140

120

100

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

i

i

i

I

i

i

i

I

'

i

i

I

i

'

i

l

'

' I

i

i

I

'

i

'

I

I

'

i

l

190

SWITZERLAND

JAPAN

170
150
130

110

90
130

•

i

i

I

i

i

i

l

i

i

i

l

i

i

i

•

i

GERMANY

l

i

i

i

i

I

i

i

'

' I
1992

I

I

I

I

FRANCE

120
110

100
90

80

i

i

i

I

'

i

i

I

'

' I

l

i

i

i

•

i

i

I

i

140

CANADA

NETHERLANDS

130

120
110

100
90

i

' i
1990

I




i

•

i

l

'

' '
1992

l

i

i

»

I

I I
1990

I

I

SERIES
C h a r t 1.

23-Dec - 9 2 30 -Dec - 9 2 6 - J a n - 9 3

S p o t Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents,

weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Indices,

3.0878
7 8 . 870
18. 594
6 3 . 483
0.07075
0.81075
5 6 . 444
7 0 . 391
155 .37

3.0255
7 9 . 089
1 8 . 237
6 2 . 172
0.06879
0.80332
5 5 . 294
6 8 . 659
151 .48

2.9845
78.361
17.990
61.384
0.06609
0.79927
54.609
67.773
152.51

2.9769
7 8 . 147
1 8 . 019
6 1 . 200
0.06664
0.79758
5 4 . 434
66 . 971
154 . 1 9

3.0020
78.154
18.271
61.812
0.06727
0.79635
54.983
67.531
153.97

121 .67
78 . 6 1
83 .79
178 .58
40 . 6 1
212 .28
162 . 04
226 .46
62 .84

119 . 2 2
78 . 8 3
82 .18
174 .89
39 .48
210 . 3 3
158 . 7 4
220 .88
61 .27

117.60
78.10
81.07
172.68
37 .93
209.27
156.77
218.04
61.68

117 . 3 1
77 . 8 9
81 . 2 0
172 .16
38 . 2 5
208 . 8 3
156 .27
215 . 4 5
62 .36

118.29
77.90
82.33
173.88
38.61
208.51
157.84
217.26
62.27

111.71
72.02
74.23
179.46
32.75
214.41
152.12
57.11
210.21
55.07
92.97

111 . 5 1
71 .88
74 . 4 4
178 .99
33 . 07
214 .10
151 . 7 3
55 . 3 4
207 . 8 2
55 .79
93 . 07

111.84
71.45
75.12
179.93
33.20
212.39
152.45
56.53
208.40
55.36
92.41

M a r c h 1973 base r a t e s = 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss f r a n c
U . K . pound
Weighted average exchange v a l u e i n d i c e s ,
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish k r o n a
Swiss f r a n c
U . K . pound
U.S. d o l l a r
Chart 2.

U.S.

3 - M o n t h F o r w a r d Exchange R a t e s ,

Gold P r i c e i n

1973=100
112 . 2 3
72 .03
74 .60
180 . 2 1
33 .85
213 . 4 1
152 .65
57 . 4 2
211 . 0 1
54 .10
91 .88

Premium o r D i s c o u n t
-3
-8
-5
-10
-0
-5
-2
-3

.71
.54
.42
.02
.22
.02
.73
.72

-3
-7
-5
-9
-0
-4
-2
-3

.40
.93
.18
.36
.18
.75
.68
.65

-3.54
-9.26
-5.13
-9.44
-0.23
-4.66
-2.49
-3.65

335 .03

332 .77

329.84

.94
.93
.60
.93
.78
.81
.57
.15
.15

2 .86
3 .05
6 .46
10 . 3 1
8 .70
3 .84
8 .59
6 .17
5 .88

3.03
3.16
6.81
12.75
8.78
3.85
8.48
5.50
6.84

-3
-8
-4
-9
-0
-4
-2
-3

.51
.39
.99
.20
.30
.65
.35
.68

-3.30
-8.09
-5.02
-9.01
-0.37
-4.70
-2.40
-3.57

328 .68

328.30

.98
.98
.83
.86
.67
.79
.41
.00
.45

3.10
2.95
6.78
11.99
8.58
3.84
8.15
5.45
6.18

London, A f t e r n o o n F i x i n g

d o l l a r s p e r f i n e ounce

Chart 4.

Mar.
112 .97
70 .73
75 .03
181 .67
34 .36
212 . 2 3
153 .70
57 .48
213 .36
54 .78
90 .25

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss f r a n c
U . K . pound
Chart 3.

13-Jan -93 20-Jan-93

C a l l Money R a t e s

U.S. f e d e r a l f u n d s
Overnight Euro-dollar
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




deposits

2
2
6
9
8
3
8
6
7

2
2
6
11
8
3
8
5
6

SERIES
23-Dec-92 30-Dec-92 6 - J a n - 9 3
Chart 5.

3-Month I n t e r e s t

Rates

U.S. 90-day CD's, secondary market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k s t e r l i n g
Weighted average f o r e i g n i n t e r e s t r a t e
CG-10 C o u n t r i e s )
Chart 6.

Euro-Dollar

Selected Euro-dollar & U

Overnight Euro-dollar
U.S. f e d e r a l funds
Differential

Interest

deposits

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differential
U.S. commercial paper
Canadian f i n a n c e paper,
Differential

3.17
6.88
11.31
8.45
3.73
7.99
5.54
6.88
7.66

2.93
3.19
3.36
3.40
3.53
3.99

3 .05
3 .94
3 .28
3 .36
3 .55
3 .94

3 .16
3 .11
3 .16
3 .30
3 .47
3 .91

2 .98
3 . 06
3 .15
3 .26
3 .44
3 .90

2 .95
2 .96
3 .05
3 .18
3 .33
3 .75

3 .16
3 .03
0 .13

2 .98
2 .98
- 0 .01

2 .95
3 .10
- 0 .15

3.40
3.36
0.04

3 .36
3..34
0..02

3 .30
3. 28
0. 02

3 .26
3. 24
0. 02

3 . 18
3 .17
0,.00

3.40
3.41
-0.01

3 . 36
3 . 33
0 . 03

3 . 30
3 . 32
- 0 . 02

3. 26
3. 37
- 0 . 10

3. 18
3. 24
- 0 . 07

3.61
3.98
-0.37

3 . 54
4 . 06
- 0 . 52

3 . 38
3 . 80
- 0 . 42

3 . 30
3 . 63
- 0 . 33

3 . 21
3 . 52
- 0 . 30

3.40
3.44
-0.04

3 . 36
3 . 51
- 0 . 15

3 . 30
3 . 44
- 0 . 14

3 . 26
3 . 44
- 0 . 18

3 . 18
3 . 32
- 0 . 15

3.40
3.32
0.08

3 . 36
3 . 31
0 . 05

3 . 30
3 . 14
0 . 15

3 . 26
3 . 14
0. 12

3 . 18
3 . 11
0 . 07

7.82
8.26
7.28
4.71
5.48
7.39
8.29
6.71

7 .80
8 .13
7 ,.19
4 .65
5..47
7 ..27
8 ,.18
6 . 70

7 .85
8 . 12
7 .14
4 .64
5 .52
7 .19
8 18
6 . 64

8 .02
8 .03
7 ,.09
4..59
5..37
7..15
8 . 27
6 . 73

7 .98
7 .83
7 .08
4 .49
5 .35
7 ,.13
8..32
6 . 61

110 .74
130 .43
89 .55
102 .07
107..40
159..99
167,.80
177, 17

110. 77
132. 77
9 0 . 25
9 8 . 88
107. 35
162. 64
1 6 8 . 43
177. 28

111 . 7 4
133 . 3 1
91 .08
97 .69
109 .03
164 .70
170,.28
175, 8 1

109 . 9 1
129 .80
89 .76
96 .14
107,.67
160..22
165..22
175, 05

109 .64
132 .47
92 .27
95 .74
108,. 8 1
160..69
165..56
175. 62

3 - M o n t h Funds
covered

covered

Long Term G o v e r n m e n t B e l l w e t h e r Bond Y i e l d s
1 0 - y e a r m a t u r i t y , where a v a i l a b l e

Canada
France
Germany
Japan
Switzerland
Netherlands
U n i t e d Kingdom
United States
10.

3 .24
7 .20
11 .50
8 .54
3 .75
7,.94
5. 53
7 . 11
7 . 77

3 .05
2 .86
0 .19

Euro-dollar deposit
Swiss i n t e r b a n k , covered
Differential

Chart

3 .28
7 .41
11 . 8 8
8 .68
3 .76
8 .06
5 .67
7 .03
7 .91

2.93
2.94
-0.01

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

Chart 9.

3.34
7.53
10.78
8.80
3.76
8.27
6.02
7.04
7.81

Money M a r k e t R a t e s

3-month E u r o - d o l l a r deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

3.36
7.75
11.29
8.99
3.78
8.51
6.09
7.20
8.10

Deposit Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

13-Jan-93 20-Jan-93

Stock I n d i c e s

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

(Wednesday f i g u r e s )

I n d i c e s ( i n o r d e r , r e b a s e d t o 1 9 8 6 = 1 0 0 ) a r e T o r o n t o C o m p o s i t e , CAC G e n e r a l , FAZ A k t i e n ,
T o k y o SE C T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l T i m e s O r d i n a r y , NYSE C o m p o s i t e




FEDERAL RESERVE statistical release
H.10(512)

January 25, 1993

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JANUARY 22, 1993

The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified
for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies:

COUNTRY
^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EUR0 COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*1RELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
**UNITED STATES

MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND
DOLLAR

Jan. 18

(CURRENCY UNITS PER DOLLAR)
Jan. 19
Jan. 20
Jan. 21

0.6723

33 .180
1.2769
5 .7744
6 .2075
1.2188
5 .4200
5 .4520
1.6115
215 .55
7 .7353
29 .000
1.6475
1477 .50
125 .55
2.5942
1.8118
0 .5135
6 .8150
145 .25
1.6560
3 .0750
795 .80
114 .23
46 .350
7 .2100
1,.4745
25,• 499
25.530
1 5480

0.6690
11 .312
33 .100
1 2805
5 .7744
6 .1700
1.2226
5 .4150
5 .4270
1..6065
214..85
7..7340
29..000
1..6495
1466..50
124..90
2..5865
1..8067
0..5125
6..7950
144..75
1..6578
3..0785
794..20
113..60
46..430
7..1700
1..4705
N. A.
25 530
1. 5416

92.08

91.84

11 .333

0. 6655
11 .369
33 .270
1.2875
5 .7894
6 .2060
1.2140
5 5360
5 .4585
1. 6155
216. 05
7. 7355
29. 000
1. 6434
1480. 00
125. 00
2. 5940
1. 8171
0. 5117
6. 8530
145. 56
1. 6565
3. 0800
794. 50
114. 27
46. 430
7. 2400
1. 4810
N. A.
25. 500
1. 5175
92.46

Jan. 22

0 6720
11 298
32 .990
1.2822
5 .7894
6 .1335
1.2264
5 .4470
5 .3860
1.5900
213 .65
7 7350
29 .000
1.6626
1469 . 0 0
124 .85
2 .5925
1.7885
0.5147
6 .7860
143 .93
1.6465
3 .0765
N .A.
113 .08
46 .430
7.1680
1 .4595
N.A.

25 .520
1. 5320
91.52

*VALUE IS U.S. DOLLARS
**INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 100. HEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES.
SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE
WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST
1978 FEDERAL RESERVE BULLETIN.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT C202) 452-3244.