Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : October 7, 1991

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

(516/517)

Selected Interest 8?
Exchange Rates
Weekly Series of Charts

October 7,1991

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. SPOT EXCHANGE RATE INDICES
2. 3-MONTH FORWARD EXCHANGE RATES
3. GOLD PRICE—LONDON
4. CALL MONEY RATES
5. 3-MONTH INTEREST RATES
6. EURO-DOLLAR DEPOSIT RATES
7. 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
ROTO SCALE

MARCH 1973=100
140
FOREIGN CURRENCY
130
PRICE OF U.S. DOLLAR
120
110
100

— , 140
130
120
110
100

BELGIAN FRANC

90

90

80

80
70
280
260 —
240
220
200

•

I

i

I

i

•

1

•

1

1

1

SWISS FRANC

1

1

1

l

1

—

A^VX

I

I

I

1

I

1

1

1

1

I

1

1

70
280
260
240
220
200

JAPANESE YEN

180

180

160

160

140

140
120
100

_L_L • I

'

•

'

I

l

I

I

I

120
100
90

CANADIAN DOLLAR

—

90

• • • I ' ' '

• ' ' I '

I

U.K. POUND

80

80

70

70

60
60

I

50

I

I

I

I

'

•

•

•

I

'

'

I

•

I

I

1

I

1

GERMAN MARK
DUTCH GUILDER

1

1

1

50
200

200

180 —
160

1

/ V X

180

_ a

160
140

140

120

120
100
120
110
100

i

i

i

i

i

i

i

i

i

i

i

I

i

i

•

i

i

i

i

i

i

I

i

*

1

1

1

•

1

55
50

ITALIAN LIRA

45

FRENCH FRANC

90

40

80

35

70

30

60

50

100
60

I

I

I




I

I

I I
1989

I

I

I

I

I

I

I I
1991

I

I

I

i

• • •
1989

i

i

i

i

I

i

' i
1991

25

CHART 2

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

PERCENT PER ANNUM

4

4
U.K. POUND

CANADIAN DOLLAR

1

I

1

I

1

I

I

I

1

I

I

I

I

I

1

i

i

I

i

1 i i i 1 1 1 1

JAPANESE YEN

GERMAN MARK

i

1 1 1 1 1 1 i

i

i

I

i

i

v

i

I

1 1 1 1 1 1 1 1 1 1 1 1 i 1 1

i T w
— —

DUTCH GUILDER

SWISS FRANC

—

V/ \

—

—

3 ^ s / v \

\
1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

I I




1

1

1

1 1
1989

"

"

V

i i 1 i i i 1 i i i 1 iTVj

ITALIAN LIRA

FRENCH FRANC

12

i

1

1

1

1

1 1

1 1
1991

1 1 1 1 I I
1989

1 1 1 1 1 1 1 1 1
1991

12

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
520

U.S. DOLLARS PER FINE OUNCE
520

500

500 —

12.5 Kg BARS
AFTERNOON FIXING PRICE

480

460

440 —

—

480

—

460

—

440

420

420 —

400

400

380

380 —

360

360

—

340 —

320

340

320
1988




1989

1990

1991

CHART 4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER AN

16

16

12

12

FRANCE

U.S. FEDERAL FUNDS

8

8
JAPAN

4

4

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

i

i

0

16

16

12

12

GERMANY

8

CANADA

8

4

4

I

0

I

I

I

I

I

I

I

I

I

I

I

•

I

'

i

I

i

•

i

I

'

'

'

I

'

i

16

'

0
16

UNITED KINGDOM

12

SWITZERLAND

12

8

8
NETHERLANDS

4

0

4

i

i




i

I

i

i
1989

i

I

i

i

i

I

i

i
1991

i

'

'

I

•

i
1989

i

I

i
1991

0

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
12
U.S. CD'S

SWISS INTERBANK RATE

WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE CO
PAPER

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

FRENCH INTERBANK RATE

—

JAPANESE CD RATE




NETHERLANDS INTERBANK RATE

1989

1991

1989

1991

CHART 6

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

CENT PER ANNUM

14

14

3-MONTH

OVERNIGHT

12

12

10

10

8

8

6

6

4
14

i

i

'

I

i

i

i

l

i

i

i

I

i

i

'

i

'

I

I

I

I

I

I

I

I

I

I

I

6-MONTH

7-DAY

12

I

4
14

12

10

10

8

8

6

6

4
14

•

i

i

l

i

i

i

I

i

i

i

I

i

i

i

i

i

i

I

i

'

l

i

'

i

I

i

i

i

1-YEAR

1-MONTH

12

i

4
14

12

10

10

8

8

6

6

4

•

'




i

i

'
1989

'

I

i

i

'

I

i

i
1991

i

•

i

i

I

i

i
1989

i

i

i

i

i

I

i

i
1991

i

4

CHART 7

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

PERCENT PER ANNU

14

12

OVERNIGHT

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

10

8

FEDERAL FUNDS

6

DASHED LINE

DASHED LINE

4

2
2

J

I

I

I

I

l__l

I

I

I

L

I

I

DIFFERENTIAL

+

r

0




i

i
1989

i

I

I

I

I

I

I

I

I

I
I
1989

I

I

I

I

J

I

L

DIFFERENTIAL

1

1

I

i

i

i

v/-

I

i

i
1991

i

J

I

I

I

I

I

I

I
I
1991

CHART 8

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

PERCENT PER ANNUM

16

16

INTERBANK STERLING
12

CANADIAN FINANCE
CO. PAPER, COVERED

—

COVERED LONDON

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

I

I

I

I

I

I

I

I

I

I

12

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

DIFFERENTIAL

DIFFERENTIAL

V-lvVVW v

2

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

'

I

2
16

16

INTERBANK DM

12 —

__

COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

I

I

I

I

I

I

I

I

I

12

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

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

i/V

I

I




I

I

I
1989

•

I

•

•

•

I

'

•
1991

'

•

i

i

l

i

i
1989

i

i

i

i

i

I

i

i
1991

i

0

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNl

PE tCENT PER ANNUM
14
UNITED STATES

CANADA

12

10

8

6
14

'

'

'

I

i

i

i

1 i

i

i

I

i

•

i

i

i

I

i

» i

l

i

» i

I

i

i

I

i

i

I

'

i

l

i

i

i

FRANCE

UNITED KINGDOM
12

10

8

6

•

« » I

i

'

1

I

1

1

1

1

l

1

1

i

'

'

i

i

10
SWITZERLAND

JAPAN

iiiIiiiIiiiIiii

i iiIiiiIiiiI

NETHERLANDS

GERMANY

8

6

4

2
10

i

i

i

i

8

6

4

2

I

I




I

I

I

I
1989

I

I

I

I

I

I

I

I
1991

I

i

I

i- i
1989

i

I

i

i

i

l

i

1991

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SC>
1986=

CALE

0

5

200
175

„

. UNITED STATES

1

NETHERLANDS

1

150
125

100
75

50
400
350

•

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

1 I

I

L _ GERMANY

- JAPAN

300
250
200
150

JL_L i

i

•

i

i

i

i

i

i

i

i

i

i

1

i

i

1 1

I

I

I

I

I

I

I

I




I

1
__ UNITED KINGDOM

.CANADA

»

•

FRANCE

„ SWITZERLAND

_L_L

'

1

I

I I
1989

1

I

I

I

I

I

I 1
1991

I

I

I
1989

I

I

I

I

I

I

I

I
1991

I

SERIES
C h a r t 1.

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,

2.7886
87.619
16.894
57.370
0.07690
0.73373
50.932
65.528
168.63

2.8382
8 7 . 750
1 7 . 195
5 8 . 432
0.07822
0.73882
5 1 . 856
6 6 . 619
171 .48

2.8894
8 7 . 991
1 7 . 486
5 9 . 544
0.07952
0.74663
5 2 . 817
6 8 . 091
173 . 5 5

2.8855
88.106
17.455
59.448
0.07943
0.74818
52.741
68.204
173.43

2.9059
88.280
17.575
59.875
0.08005
0.75098
53.115
68.682
174.42

109.89
87.33
76.13
161.39
44.14
192.12
146.22
210.81
68.20

111 . 8 4
87 .46
77 .48
164 .37
44 .90
193 . 4 5
148 .87
214 . 3 2
69 .36

113 .86
87 .70
78 . 8 0
167 .50
45 . 6 4
195 .49
151 . 6 3
219 .06
70 . 2 0

113.70
87.81
78.66
167.23
45.59
195.90
151.41
219.42
70.14

114.51
87.99
79.20
168.43
45.95
196.63
152.48
220.96
70.55

105
79
70
168
39
194
143
66
206
62
90

.70
.86
.32
.94
.11
.24
.67
.07
.90
.12
.63

105.60
80.01
70.22
168.70
39.08
194.79
143.52
65.95
207.35
62.10
90.68

105.86
79.77
70.39
169.19
39.21
194.58
143.88
66.06
207.83
62.17
90.14

-2
-3
-3
-5
-1
-3
-2
-4

.85
.62
.67
.83
.08
.76
.58
.47

-2.87
-3.91
-3.73
-5.79
-1.04
-3.79
-2.62
-4.66

-2.93
-3.96
-3.82
-5.79
-0.96
-3.79
-2.71
-4.60

M a r c h 1973 b a s e 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 g u i l d e r
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 g u i l d e r
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.

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

U.S.

Gold P r i c e i n

Call

105 . 0 1
80 . 6 4
69 . 9 2
167 .49
38 . 9 1
194 . 5 0
142 . 6 4
65 . 7 5
204 . 7 4
62 .10
91 .99

-2
-3
-3
-5
-1
-3
-2
-4

.82
.72
.57
.65
.22
.67
.45
.40

London, A f t e r n o o n F i x i n g
348.53

348 .59

346 . 0 4

350.22

353.04

5.60
5.59
8.44
9.03
8,92
7.41
9.02
7.88
10.84

5 .56
5 .48
8 .50
9 .20
9 .00
6 .98
9 .04
7 .48
10 . 4 5

5 .44
5 .41
8 .60
9 .13
8 .99
6 .88
8 .93
7 .38
10 . 5 9

5.29
5.36
8.74
9.15
8.98
6.86
8.81
7.38
10.61

5.33
5.46
8.80
9.27
9.11
6.84
9.05
7.38
10.65

Money R a t e s

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




1973=100

Premium o r D i s c o u n t
-2.80
-3.64
-3.54
-5.79
-1.46
-3.62
-2.40
-4.82

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

Chart 4.

Mar.
104.34
81.51
69.45
166.13
38.68
195.50
141.66
65.39
203.69
61.74
93.34

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
Chart 3.

1 1 - S e p - 9 1 18 - S e p - 9 1 2 5 - S e p - 9 1 2 - 0 c t - 9 1

4-Sep-91

SERIES
Chart 5.

<*-Sep-91

3-Month I n t e r e s t

Rates

U.S. 90-day CD's, s e c o n d a r y 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 r a t e
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
(G-10 C o u n t r i e s )
Chart 6.

Euro-Dollar

5.60
8.66
9.29
9.15
7.17
9.25
7.88
10.67
9.21

.59
.59
.61
.61
.74
.93

Interest

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

5.
5.
5.
5.

5.36
5.53
5.43
5.43
5.61
5.80

5.46
5.35
5.35
5.50
5.53
5.66

5.41
5.44

5.46
5.33
0.13

-0.08

-0.02

5.61
5.60
0.02

5.58
5.55
0.02

5.44
5.42
0.02

43
40
02

5.50
5.46
0.04

5.61
5.72

5.44
5.54

-0.11

5.43
5.46
-0.04

5.50
5.51

-0.11

5.58
5.61
-0.04

-0.01

5.73
5.80
-0.07

5.64
5.77
-0.13

5.51
5.68
-0.17

5.52
5.60
-0.09

5.50
5.49
0.01

5.61
5.53
0.08

58
50
07

5.44
5.41
0.03

5 43
5 .33
0..09

5.50
5.31
0.19

5.61
5.43
0.19

5.58
5.38
0.20

5.44
5.30
0.14

5..43
5. 28
0.15

50
16
34

9.64
8.94
8.42
6.33
6.18
8.73
9.86
7.80

9.61
8.92
8.41
6.26
6.20
8.77
9.72
7.76

9.47
8.85
8.39
6.15
6.14
8.77
9.57
7.64

9.37
8.88
8.43
6.10
6.13
8.79
9.54
7.57

9.13
8.85
8.37
6.01
6.22
8.77
9.57
7.49

116 .20
134 .57
102 .06
131 .55
108 . 6 5
134 . 3 1
160 . 9 2
157 .28

1 1 4 . 29
134, 12
101..12
132 .20
107 .78
133 .34
160 .45
155 .27

113. 92
136..44
101,.05
136 .12
107 .08
131 .06
155 .72
156 . 0 2

112.97
136.94
100.72
137.08
105.61
130.48
157.41
156.24

113.09
137.07
99.07
140.80
105.39
130.78
158.11
157.02

5.48
5.56

3 - M o n t h Funds
covered

covered

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

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
10-year 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.

5.41
5.41
5.43
5.44
5.60
5.80

16

-0.00

covered

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

:hart

5.46
8.47
9.38
22
39
22
93
10.23
9.02

5.36
5.29
0.07

5.59
5.60

deposits

3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day CD's, s e c o n d a r y market
Differential

C h a r t 9o

48
58
59
58
5 70
5 91

59
20
93
10.13
9.02

5.40
8.54
9.30
15
52
9.21
7.95
10.24
9.02

5.42
8.59
9.28

S e l e c t e d E u r o - d o l l a r & U . S . Money M a r k e t R a t e s

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

Chart 8.

5.55
8.66
9.29
9.16
6.85
9.22
7.88
10.13
9.08

Deposit Rates

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

l l - S e p - 9 1 18-Sep-91 25~Sep-91 2 - 0 c t ~ 9 1

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 1986=100) 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 ,
Tokyo SE ( 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



ySstiSfc.

FEDERAL RESERVE statistical release
H.10(512)

O c t o b e r 7 , 1991

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

OCTOBER 4 , 1991

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:
MONETARY
UNIT

Sep. 30

•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO 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

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

0.7995
11.696
34.250
1.1318
N. A.
6.4150
1.2313
4.0490
5.6625
1.6625
185.25
7.7430
25.770
1.6085
1243.50
132.85
2.7385
1.8736
0.5667
6.5060
143.95
1.6850
2.8040
745.90
105.18
N. A.
6.0685
1.4490
26.475
25.560
1.7520

MEMO:
HHJNITED STATES

DOLLAR

89.78

COUNTRY

(CURRENCY UNITS PER DOLLAR)
Oct. 1
Oct. 2
Oct. 3

Oct. 4

0.7971
11.727
34.310
1.1315
5.3899
6.4260
1.2287
4.0565
5.6750
1.6657
185.85
7.7405
25.770
1.6035
1246.25
133.20
2.7400
1.8777
0.5678
6.5170
143.85
1.6890
2.8050
746.00
105.33
N. A.
6.0775
1.4520
26.490
25.560
1.7485

0.8004
11.705
34.260
1.1310
5.3899
6.4170
1.2307
4.0485
5.6650
1.6630
185.35
7.7450
25.740
1.6060
1244.00
132.68
2.7375
1.8748
0.5699
6.5065
143.25
1.6868
2.8100
747.50
105.28
N. A.
6.0615
1.4538
26.481
25.560
1.7510

0.7953
11.717
34.340
1.1313
5;3899
6.4280
1.2297
4.0565
5.6785
1.6662
185.85
7.7440
25.760
1.6050
1246.25
130.77
2.7370
1.8782
0.5680
6.5155
143.55
1.6885
2.8150
N. A.
105.63
N. A.
6.0675
1.4576
26.460
25.560
1.7500

0.7940
11.795
34.570
1.1319
5.3854
6.4645
1.2218
4.0855
5.7135
1.6780
187.05
7.7420
25.720
1.5930
1252.75
130.03
2.7365
1.8913
0.5665
6.5545
144.45
1.6900
2.8250
N. A.
106.13
42.098
6.1090
1.4685
26.420
25.500
1.7390

89.95

89.79

89.74

90.13

•VALUE I S 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 I S AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL ( 2 0 2 ) 3 7 7 - 1 9 8 6 .
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING I T I N DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT ( 2 0 2 ) 4 5 2 - 3 2 4 4 .