The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
November 1 4 , 1973
R e l e a s e No. 636
H*13
Division of International Finance, Statistical & Data Management Unit
1/ lS
SELECTED INTEREST &
EXCHANGE RATES
FOR MAJOR COUNTRIES &
THE U S.
WEEKLY SERIES O F CHARTS
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
v
H.13
November 14, 1973
Release No. 636
TABLE OF CONTENTS
PART I. EXCHANGE RATES AND GOLD PRICES
Chart 1A, IB, & 1C - Spot Exchange Rates, Major Currencies against U.S. Dollar
Chart 2A and B - 3-Month Forward Exchange Rates, Major Currencies against
U.S. Dollar
Chart 3A and B - 3-Month Forward Exchange Rates, Major Currencies against
U.K. Pound
Chart 4
- Gold Price in London
PART II. SHORT-TERM INTEREST RATES
Chart 5
- Call Money Rates
Chart 6A and B - London: Euro-$ Deposit Rates
Chart 7A and B - New York - London: Yields on U.S. Dollar Funds
Chart 8A and B - London: Covered Yields on U.S. Dollar Funds
Chart 9A and B - Interest Arbitrage: United States-United Kingdom
Chart 10A and B - Interest Arbitrage: U.S.-Germany and U.S.-Switzerland
Chart 11
- Interest Arbitrage: United States-Canada
Chart 12A and B - Selected Short-term Interest Rates
PART III. LONG-TERM INTEREST RATES AND STOCK INDICES
Chart 13
Chart 14
- Long-Term Bond Yields
- Industrial Stock Indices
PART IV. SELECTED CENTRAL BANK DISCOUNT RATES AND
LATEST FIGURES PLOTTED ON THE CHARTS
NOTE: This series is a continuation of the CAPITAL MARKETS DEVELOPMENTS ABROAD,
which was published under that title through December 31, 1968.
The changes in the format and order of the charts are explained in the Supplement
to the series, which accompanied issue dated January 1, 1969.
All series and their sources are fully described in a Supplement dated January 1, 1972.
Chart 1A
SPOT EXCHANGE RATES - MAJOR CURRENCIES AGAINST U.S. DOLLAR
Weekly averages
—1 40
GERMAN
MARK \
BELGIAN FRANC
SWISS FRANC /
20
JAPANESE
YEN
CANADIAN
DOLLAR
Per cent above average
market rate in January 1972
against
M
J
1972
S
D
M
J
S
1973
Weekly averages (week ending on Friday) of daily offered rates in the New York market as per cent above or below Smithsonian
D
SPOT EXCHANGE RATES - MAJOR CURRENCIES AGAINST U.S. DOLLAR
~~] 30
FRENCH FRANC
DUTCH GUILDER
ITALIAN LIRA
ag a St
us
U.K. POUND
J
1972
I
I
I
1
I
I
L_J
1973
Weekly averages (week ending on Friday) of daily offered rates in the New York market as per cent above or below Smithsonian
central rates.
L
Chart 2A
3-MONTH FORWARD EXCHANGE - MAJOR CURRENCES AGAINST U S. DOLLAR
Per cent per annum
Weekly averages
i
1 1 1 1 1 1 1 1 1 1 1
i
|
i
i
|
i i
|
i
i |
1 1 |
1 1 |
1 1 |
1 1
1 1 |
1 1 |
1 1 |
1 1
PRE*AIUM +
CANADIAN DOLLAR
A
t\
Vor
vz
W
- a a
U.K. POUND
DISC()UNT -
PREM IUM +
GERMAN MARK
XJ
/i- »
i V y
/ A / v
V
A
DISCO!UNT -
|
PREM IUM +
r \
DUTCH GUILDER
VTSAAj
/
DISCOlINT -
i i 1 i i 1 i i ! M
J
s
1970
1 1 1 1 1 1 1 1 I 1 1 11 1 1 1 1 1 1 1 1 II
1971
Canadian Dollar Rate not supported by Bank of Canada.
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 2-3.
1 1 1 1 !
1 1 1 1 M
J
1972
1973
~
b
Chart 2B
3-MONTH FORWARD EXCHANGE - MAJOR CURRENCES AGAINST U.S. DOLLAR
Weekly averages
1 1 1 1 t
Per cent per annum
1 1 1 1 1 1
1 1 |
1 1 |
1 1 |
1 1
1 1 |
1 1 |
1 1 |
I I
1 1 |
1 1 |
1 1 1 '
1
PREMIUM +
-
FRENCH FRANC
-
^
V
Lf\
\
V
DISCOUNT PREMIUM +
SWISS FRANC
-
~ v \
DISCOUNT -
I
I I
M
1 1 1 I
J
1 1 1 1
S
1 1 1 I I
D
1970
M
1 I I
J
1 1 1
S
D
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 2-3.
I I
1 I I
M
1 1 1 1 1 1
J
1972
S
D
1 1 1 1 1 1 1 1 1 1 1
M
J
1473
S
D
3-MONTH FORWARD EXCHANGE - MAJOR CURRENCIES AGAINST U.K. POUND
Friday figures
Per cent per annum
PREMIUM
GERMAN MARK
U.S. DOLLAR
DISCOUNT -
M
J
S
D
1970
M
J
S
D
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. p. 3.
M
J
1972
S
D
S
M
1973
D
3-MONTH FORWARD EXCHANGE - MAJOR CURRENCIES AGAINST U.K. POUND
Per cent per annum
Friday figures
16
PRE!WUM +
-
-
-
_ J
SWISS FRArJC
sl
\
-
A
~ V 1
-
f U
u
V FRENCH FRANC
-
DISCOIUNT -
1 !i
M
J
S
D
M
1970
1
1 1 1 1 1 1 1
J
S
D
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, p. 3.
1 1 1 -| 1 1 1 1 1 M " 1
1 1 1 1 1 1 1 1 1 II
M
J
1972
S
D
M
J
1973
S
D
4
GOLD PRICE IN LONDON, 12.5 Kg BARS
Week's average of afternoon fixings
U.S. dollar equivalent per fine ounce
120
1973
See DESCRIPTION AND SOURCES of DATA, January 1, 1973, p. 4.
Chart 5A
CALL MONEY RATES
DOLLAR FUNDS
Weekly averages
CALL EURO-DOLLAR 1DEPOSITS
r
% x
,
Per cent per a n n u m
14
OVERNIIGHT EURO-DOLLAR DEF'osifrs
\rM
1 Jr
(
10
L A
FEDER/\ l FUhIDS
DIFFERENTIAL
FAVOR
EURO-DOLLAR
EURO-DOLLAR OVER
FEDERAL FUNDS
FAVOR "HEDERAL FUNDS
I 1 I I 1 I I 1 1 1 1
I I I I 1 1 II
1 1 I
I I I I 1 1 I I I I I
1 I I I • M
I 1 I
EURO-CURRENCIES
Weekly averages
Per cent per annu
15.15
12.06-
EURO-DM
EURO-SWISS FRANC
I i I I 1 II
I 11 I I I 1 1 ! I I 1 I 1 i 1 I I
1970
Changed from CALL to OVERNIGHT Euro dollar deposits, May 10. 1971.
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 4-6.
1 I I 1 I I I I
1973
W
Chart 5B
CALL MONEY RATES
SELECTED FOREIGN AND EEC CURRENCIES
Friday figures
Per cent per annum
12
y
v
FRANCE . /
pfi
1 I 1 1 1 1 II
1 I 1
w
y W , NETHERLAIMDS L J
1 1 1 1 1
II 1 1 1 1 i i i i i
l A _ /
r m
11
i I V I
11 M
111
JAPAN
CANADA
1 1 1 1 1 i ! ! I M
1 1 i II 1 1 1 1 1 1
!,• 1 1 II 1 II 1 1 1
GERMANY
11
I I
France, Day-to day Money; Netherlands, Call Money, weekly average; Japan, Unconditional Money;
Canada, Day-to-day Loans, weekly average; Germany, Call Money; U.K., 2-day Local Authority Deposits.
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 4-6"
f^-1 u
1 1 1 1 1 1 1 1 1 II
:
Chart 6A
LONDON: EURO-DOLLAR DEPOSIT RATES
Friday figures
Per cent per annum
15 0 0
OVERNIGHT
CALL
7-DAY
12
1-MONTH
M
S
D
M
1970
J
S
D
1971
* May 12/71—changed to Overnight Euro-Dollar Deposits
* * July 1—changed to 7-Day Euro-Dollar
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, p. 6.
M
J
1972
S
D
M
J
1973
S
D
'
LONDON: EURO-DOLLAR DEPOSIT RATES
Per cent per annum
Friday figures
12
10
8
6
4
Vv
\
[r
v
v
- •
V
1
6-MONTH
iA
r
A"
f
2
-
1 1 1 1 1 1i 1i l 1
i i l1i iIIl i i M I i 11 111 >1 1 1 1 1 1 1 1 1
1970
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, p. 6.
1972
1973
)W
NEW YORK-LONDON: YIELDS ON U.S. DOLLAR FUNDS
3-MONTH DOLLAR DEPOSIT RATES-SECONDARY MARKET
Wednesday figures
Per cent per
EURO-DOLLAR DEPOSIT
U.S. CERTIFICATE OF DEPOSIT
DIFFERENTIAL
FAVOR EURO-DOLLAR
EURO-DOLLAR OVER U.S. CERTIFICATE OF DEPOSIT
D
1970
M
J
S
D
1971
See DESCRIPTION ANDSOURCESOF DATA, January 1, 1973, pp. 6 7.
M
J
1972
S
D
M
J
1973
S
D
Chart 78
NEW YORK-LONDON: COST OF U S. DOLLAR FUNDS
3-MONTH DOLLAR DEPOSIT RATES-PRIMARY MARKET
Per/cent per annum
Wednesday figures
EURO DOLLAR DEPOSIT
ADJUSTED'
A
EURO DOLLAR DEPOSIT
U S. CERTIFICATE OF DEPOSIT
ADJUSTED
V
^V/VX/vv
W
EURO DOLLAR OVER
^
U S. CERTIFICATE OF DEPOSIT
ADJUSTED •
M
J
S
D
1970
M
J
S
D
1971
* Adjusted for Reserve Requirement
* * Adjusted for 10% Marginal Reserve Requirement
* * * Adjusted for 20% Marginal Reserve Requirement
See DESCRIPTION AND SOURCES OF DATA. January 1, 1973, pp. 6 7.
M
J
1972
S
D
M
J
1973
S
D
It
V
Chart 8A
LONDON: COVERED YIELDS ON U.S. DOLLAR FUNDS
HIRE PURCHASE/STERLING CD's vs EURO-DOLLAR RATES
Per cent per annum
Friday figures
12
EURO DOLLAR DEPOSIT
HIRE PURCHASE
COVERED
STERLING CD's
COVERED
„
FAVOR STERLING CD's
DIFFERENTIAL
A
y
\
,A A
V /
1
A
r
v
1
-
FAVOR EURO DOLLAR
1 1 1 1 1 1 1 1 1 II
M
J
S
D
II
1 II
M
J
1970
1 1 1 1 1 1
S
D
1 1 1 1 1 1 1 1 1 I I
M
1971
J
S
1972
* H i r e Purchase suspended August 11, 1972 and Sterling Certificates of Deposit ,
begin August 11, 1972.
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 7-8.
D
1 1 1 1 1 1 1 1 1 1 1
M
J
1973
S
\1
Chart 88
LONDON: COVERED YIELDS ON U.S. DOLLAR FUNDS
LOCAL AUTHORITY AND EURO-DOLLAR RATES
Friday figures
Per cent per annum
12
EURO DOLLAR DEPOSIT
LOCAL AUTHORITY
DEPOSIT
COVERED
I I 1 II 1 M L II
I M I I LI r LI I 1I I i I I J I I I I I 1I I 1I I
I I 1 I I I
o
FAVOR LOCAL AUTHORITY
DIFFERENTIAL
FAVOR EURO DOLLAR
M I I I I I I 1I I 1 I I I I 1I I I I I I ' I I I I I 1 1 1I I 11I 1I I I 1I I 1I 1' 8
M
J
S
D
M
1970
J
S
D
M
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 7-8.
J
S
1972
.
D
M
J
S
1973
D
INTEREST ARBITRAGE: UNITED KINGDOM AND UNITED STATES
Per cent per annum
Friday figures
I
I
!
I
I
I
I
I
|
I
I
|
I
I
|
I
I
|
I
I
|
I
I
3 - M O N T H TREASURY B I L L RATES
U.K. L O C A L A U T H O R I T Y DEPOSITS
UNCOVERED
V ^ / ^ ^ h l E W
YORK
2
-
j
LONDON.
v >
|
/
W
i
NEW YORK
1 1 1 1 1 1 i
1 1 1 I I
1 1 I'l
.1 I
1 1 1 I I
I I
1 1 1 1 I I
M
1970
* Plotted for comparison purposes
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 8-9
J
1972
1 1 1
S
I I
D
1 1 1 1 1 1 1 1 1 1
M
J
1973
s
Chart 9B
INTEREST ARBITRAGE: UNITED KINGDOM AND UNITED STATES
rriday figures
Per cent per annum
PREMIUM
RATE DIFFERENTIAL AND 3-MONTH FORWARD STERLING
SPREAD IN FAVOR OF LONDON
FORWARD RATE
DISCOUNT
RATE DIFFERENTIAL WITH FORWARD EXCHANGE COVER
FAVOR LONDON
FAVOR NEW YORK
M
J
S
D
1970
J
S
D
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp.8-9.
S
1972
D
M
J
1973
s
D
Chart 10A
**"
:
3-MONTH FUNDS INTEREST ARBITRAGE: EURO-DOLLAR-GERMAN MARK
F R A N K F U R T I N T E R B A N K LOAN RATE VS. L O N D O N EURO D O L L A R R A T E
Wednesday rates
Per cent per annum
GERMAN INTERBANK
LOAN RATE
EURODOLLAR
COVERED
FAVOR FRANKFURT
DIFFERENTIAL
FAVOR EURO-DOLLAR
S
•D
1970
M
J
S
D
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 9-10..
No quotation
M
J
1972
S
D
M
J
1973
S
D
Chart 10B
3-MONTH FUNDS INTEREST ARBITRAGE: EURO-DOLLAR - SWISS FRANC
ZURICH DEPOSIT RATE VS. LONDON EURO-DOLLAR RATE
Per cent per annum
Wednesday rates
I I | II
| I I | | I I I I | I I | I I | II
I I I | I I | I I | I I I II
| M
| I I | I I
12
SWISS DEPOSIT RATE
EURODOLLAR
COVERED
FAVOR ZURICH
DIFFERENTIAL
FAVOR EURO-DOLLAR
I I 1 1 I I 1 I 1 1 I I 1 I I 1 I I 1 M
1 I I 1 I I 1 I I 1 I 1 I I I I I I 1 I I 1 I I 1 8
1971
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 9 10.
1973
Chart 11
•
'
3-MONTH INTEREST ARBITRAGE: CANADA - UNITED STATES
Friday figures
Per cent per annum
1 1 | 1 1 | ! 1 | 1 1
BILL RATES
- \ \
1111
11 1 1 | 1 1
1 1 | 1 1 | 1 1 | 1 1
1 1 | II
UNITED STATES
TREASURY BILLS
\
CAN. FIN. CO. PAPER
/
\X
J
| 1 1 | 1 1
\ .1"
Tr k/
/
z
-
CANADIAN
TREASURY BILLS
1
1
1
PREMIUM
BILL RATE DIFFERENTIA± AND FORWARD CANADAiN DOLLAR
FORWARD RATE
k r v V\
\J\A yA/VyV
-
A
w\j^:
GROSS SPREAD IN FAVOR OF C/ INADA
DISCOUNT
1
toy
I
COVERED RATE DIFFERIiNTIALS
FAVOR CANADA
» PRIME FINANCE PAPEF
\
V xy /
v
A .
; Vvy_
TREASURY 1BILLS
\
FAVOR U.S.
i
i
1 i
i
1 i i
1 i
i
1 1 1 1 1 1 1 1 1 1 !
1 1 1 1 1 1 1 1 1 I I
1971
1972
1970
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 1011.
1 1 1 1 1 1 I I
1973
1 1 1
Chart 12A
SELECTED SHORT-TERM INTEREST RATES*
Per cent per a n n u m
y\
Wj
GERMANY
V
U.S.
12
U.K.
U.S.
JAPAN
MONTHLY
II
i I I
! ! 1 1 1 1
II
1 1 1 I II
1970
1971
1 1 1
M
1 II
i I I
1972
1 I I
i i
1 i i ! i i 1 i i
1973
3-month treasury bill rates for all countries except Japan(Average rate on bank loans and discounts)
and Germany (interbank loan rate)
See U t S L K l K i i u n a n u ;>UUKit;> u r u a i a , January i , 1573, pp. 11-12.
i
i 1 i i 1 i i 1 i i
1974
<p\
Chart 128
SELECTED SHORT-TERM INTEREST RATES
Per cent per annum
12
M\
1 H
f{
h/f1
V\„,
i'H
A. V
, f'J \T
V V vi K ;
,n
0 DOLLAR - LONDOI
li i
1
-
L / V u . s .
I I 1 1 I 1 i i 1I 1 1 1 1 1 1 1i i 1 1 1i i 1 i i 1 i i i i 1 i i - l
1
\V—>
v \ y ri
V' i W
I Ii i
1 II 1 II 1 i i
i \J
i
Ml
/u
I
\_
I
Ml
U.&y
Lzv
L'V
-
.'SWITZERLAND
1 1 1 1 1 1 1 1 11 11 I1 1 1 1 ! 1 1 M~i
1 1 1 1 1 1 1 1 i1i 11 1I I 1
i III 1 ! 1 1 1 1 1 I I
V
~
"
'
U.S.
A
V\
v \
J
f
W
A
wV
•Y
r-J
W
CANADA
I I 1 1 l 1 I I 1 l il i 1 ; i I ! i 1 I I 1 1 1 1 1 1 1 1 11 1 1 1 1 1 1 1 11 1I I 1 1 1 1 1 1 1 1 1
1970
1971
1972
See DESCRIPTION-ANO SOURCES OF DATA, January 1, 1973, pp. 11 1 2
1973
1974
/ "
'
Chart 13
LONG-TERM BOND YIELDS
Weekly figures
Per cent per annum
NETHERLANDS
KZ^
u
-
U.S.
SWITZERLAND
I I 1 1 1 1 I I I 1 I I1 1 I I 1 1 1 1 11 11 1 1 1 1 1 1 1 11 11 1 1 1 I I 1 11 1 11 I I 1 1 1 1 1 1
U.K.
V / V A A
\r
GERMANY/^
y
CANADA
f
-
I I 1 1! 1 1 1 1 11 11 1 I I I 1 1 1 11 11 1 1 1 1 1 1 1
I I 11 1I I 1 1 1 1 1 11
1 1 1 111 1 I I
Monthly figures
U.S. CORPORATE:
-
DOLLAR EURO-BON DS
-
-
z
\
,
AaaBONDS
DV. EURO-BONDS
I I 1 I 1 1 1 1 1 1! 11 11 1 1 1 1 1 I 1I 1 I I 1 1 1 1 I1I 1 1 I I 1 1 1 1 111 11 1 1 1 I I 1 1 1
1970
1971
1972
1973
1974
See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. pp. 12-15.
Chart 14
INDUSTRIAL STOCK INDEXES
Ratio scale, 1958=100
Ratio scale, 1958=100
^ ~ 1 320
UNITED STATES
240
160
1200
JAPAN
480
960
SWITZERLAND
SWITZERLAND
640
320
240
480
UNITED KINGDOM
JAPAN
GERMANY
160
CANADA
CANADA
320
GERMANY
240
160
1970
1971
1972
1973
November 14, 1973
g^LECTED CENTRAL BANK DISCOUNT RATES
Release No. 636
Country
. Current Rate
In Effect Since
Previous Rate
In Effect Since
E.E.C.:
Belgium
France
7.0
11.0
Oct. 4, 1973
6.5
August 2, 1973
Sept. 20, 1973
9.5
August 2, 1973
Germany
7.0
June 1, 1973
6.0
May 3, 1973
Italy
6.5
Sept. 15, 1973
4.0
April 10, 1973
Netherlands
7.0
Oct. 16, 1973
**United
Kingdom
6.5
August 7, 1973
11.50
Switzerland
Canada
Japan
United States
4.5
July 27, 1973
9.00
July 20, 1973
Jan. 1, 1973
3.75
Sept. 15, 1973
7.25
Sept. 13, 1973
6.75
August 7, 1973
7.0
Aug. 29, 1973
6.0
July 2, 1973
7.5
Aug. 14, 1973 1
7.0
July 1, 1973
-^Effective October 13, 1972, the Bank of England replaced its traditional
Bank Rate with a fluctuating "minimum lending rate" based on average
Treasury bill tender rate.
H. 13
November 14, 1973
Release No. 636
LATEST FIGURES PLOTTED ON THE CHARTS
Chart
Panel
Series
1A
IB
IB
1A
Swiss franc
U.K. pound
French franc
Japanese yen
1A
IB
1A
1A
IB
Belgian franc
Italian lire
Canadian dollar
German mark
Dutch guilder
2A
2B
Upper
3A
3B
4
5A
Upper
Middle
Lower
58
Upper
Lower
Date
Rate
Nov. 9
"
"
18.79
0.02
0.80
26.93
23.75
"
"
"
H
German mark
Swiss franc
U.K. pound
Dutch guilder
Canadian dollar
French franc
23.23
-7.20
18.36
11.90
11
"
"
0.59
2.69
-3.73
-0.10
-0.15
-1.74
German mark
U.S. dollar
Swiss franc
French franc
Nov. 9
Gold price, U.S. dollar per ounce
Nov. 9 f
97.98
Overnight Euro-S deposits
Federal Funds
Differential
Euro-currencies:
Euro DM
Euro Swiss Fr.
Japan, Unconditional Money
U.K., 2-day Local Author. Deps.
Canada, Day-to-day Loans
France, Day-to-Day Money
Germany, Call Money
Netherlands, Call Money
Nov. 7
9.23
9.70
-0.47
"
"
ii
"
.!
Nov. 9
"
Nov.
Oct.
Oct.
Nov.
"
"
2
26
31
2
4.69
3.14
4.01
1.46
12.06
3.63
8.75
13.63
6.75
11.25
14.38
7.70
H. 13
November 14, 1973
Release No. 636
Chart
Panel
6A
Series
Euro-$ Overnight Rate
6B
Rate
Date
Nov. 9
Euro-S 1-month Rate
..
Euro-$ 3-month Rate
"
Euro-S 6-month Rate
7A
Upper
Euro-$ 3-month Deposits
Lower
Differential
ii
Nov. 7
U.S. Certificate of Deposits
78
Upper
Euro-$ 3-month Deposits
Upper
Euro-$ 3-month Deposits
10.12
H
+1.17
8.95
„
on Unadj. Euro-$ Deposits
Oct. 26
S t e r l i n g CD's (covered)
8B
Lower
Differential
Upper
Euro-$ 3-month Deposits
9A
9B
Upper
Spread (+= favor London)
3-month Forward Pound
Lower
Net Incentive (+= favor London)
9.25
8.86
•I
Nov. 9
U.K. Treasury Bill rate
Local Authority Deposit (uncovered)
9.25
-0.32
"
Differential
U.S. Treasury Bill rate
+0.36
8.93
Local Authority Deposits (covered)
Lower
+0.18
M
U.S. Certificate of Deposits (Adj.)
8A
9.19
9.31
9.31
Euro-$ 3-month Deposits (Adj.)
Differential: on Adj. Euro-$ Deposits
9.44
9.19
9.13
•i
Lower
9.44
-0.39
8.01
10.57
Oct. 26
13.00
Nov. 9
+2.56
ii
"
-3.54
-0.98
H. 13
November 14, 1973
Release No. 636
IV - 4
Chart
Panel
Series
10A
Upper
Euro-* Deposits (covered)
Rate
Date
Nov. 7
Germ an Interbank Loan rate
10B
11
14.00
+5.16
Lower
Differential
"
Upper
Euro-$ Deposits (covered)
"
Swiss Deposit rate
„
Lower
Differential
"
Upper
Canadian Finance Paper
Nov. 9
U.S. Treasury Bill rate
•i
Canadian Treasury Bill rate
"
U.S. Prime Finance paper
(not plotted)
Second
6.39
4.50
-1.89
9.00
8.01
6.33
7.75
Bill rate differential
-1.68
Forward Canadian dollar
12A
8.84
..
-0.06
Third '
Net incentive on bills
Bottom
Net incentive on Finance Paper
Upper
U.K. Treasury Bill rate
»
10.57
U.S. Treasury Bill rate
it
8.01
German Interbank Loan rate
if
14.00
Lower
Japanese Average rate
Canadian Treasury Bill rate
12B
»
-1.74
+1.19
September
7.498
Nov. 9
6.33
U.S. Treasury Bill rate
"
8.01
Euro-$ Deposits
ii
9.19
Swiss 3-month Deposit rate
it
4.50
U.S. Treasury Bill rate
"
8.01
3
^
H.13
November 14, 1973
Release No. 636
IV . 5
Chart
Panel
Series
13
Upper
Netherlands
Date
Nov. 2
Canada
* United States
Switzerland
Middle
Lower
5.77
9.57
United Kingdom
Nov. 2
U.S. Corp. Dollar
Euro
"bor$fr£es
G
Switzerland
8.39
Sept.
7.94
Sept.
7.63
Nov. 9
Nov. 2
** Japan
United States
366.2
267.6
248.31
United Kingdom
Canada
11.29
Sept.
United States
Lower
6.72
Oct. 19
Germany
Middle
7.60
M
Oct. 26
U.S. Corp. Aaa bonds
Upper
7.49
M
Germany
U.S. Corp. DM E u r o " b o n d s S e r l e s q
14
Rate
185.92
ii
319.35
847.20
248.31
* New -- Average yield on selected 10 year constant maturity bonds due or callable
in 10 years.
** Beginning week ended September 5, 1970, the Japanese index plotted is that of all industrial and other stocks
on the First Section of the Tokyo Stock Exchange.
@FedFRASER