Full text of H.15 Selected Interest Rates : January 16, 1978

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F E D E R A L

R E SE R VE

statistical

SELECTED INTEREST RATES AND BOND PRICES
(Yields in per cent per annum)
Calendar *leek ending January 14, 1978
Instruments
Federal funds (effective rate).................
Commercial paper (prime, 90 to 119 davs)........
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 (Tssue date):
3-month bill ...........................
6-month bill ...........................
1 -year bill
...........................
Market Yields:
3-month bill ...........................
6-raonth bill ...........................
1 -year bill
...........................
Treasury constant maturities: 4/
1 -year .........................
2 -year ...............................
3-year ...............................
5-year .............................
7-vear*...............................
10 -year ..................... ........
20-year ...............................
30-year ...............................
Coupon issues due In: 5/
9 to 12 months** .....................
3 to 5 years*** .....................
10 -years or more (long-term) 6 /**** . . .
Price of long-term Treasury bonds 6/7/*****. . .
Average yields on corpora to bonds (Moody's) . . .
A a a .......................................
B a a .......................................
State and local government Aaa (Moody's)........

Jan.
9
6.67
6.70
6.75
6.58
7.00
7.75
6.50

For Immediate Release
January 16, 1978

Jan.

Jan.

Jan.

10

11

12

6.65
6.72
6.75
6.58
6.95

6.69
6.74
6.80
6.65
7.03

6.76
6.74
6.77
7.00

Jan.
13
6.78
6.76
6.79
6.76
6.93

8.00

8.00

8.00

8.00

6.50

6.50

6.50

6.50

6.68

lease

6.682
6.848

This
Week
6.58 2/
6.73 ~
6.77
6.65
6.98
8.00 8 /
6.50 9/

Last
Week
6.69 2/

6.00

Year
Ago
4.55
4.73
4.75
4.60
4.80
6.25
5.25

6.682
6.848

6.144
6.423

4.613
4.803

6.60
6.84
6.94

6.20
6.45
6.57

4.58
4.79
4.93

6.66
6.69
6.58
6.71
7.75

6.552
6.64
6.83
6.93
7.42
7.58

6.65

6.68

6.86

6.90
7.00

6.93
7.42
7.58
7.72
7.85
7.94

8.01

8.02

8.17

8.18

7.50
7.60
7.72
7.87
7.95
8.03
8.18

8.21

8.20

8.22

7.37
7.72
7.53
53.56
8.69

7.38
7.80
7.53
53.56
8.70
8.38
9.15

7.40
7.81
7.54
53.49
8.72
8.40
9.16

7.86
7.93

6.56
6.85
6.94

6.48
6.78

7.43
7.60
7.72
7.87
7.94

7.38
7.57
7.68
7.82
7.89
7.98
8.16

8.18

8.01

8.20

8.21

8.08

8.02
8.20
8.22

6.88

7.43
7.59
7.71
7.85
7.93

8.01

7.03
7.26
7.40
7.59
7.72
7.83

5.22
5.85

6.20
6.59
6.97
7.24
7.50
n .a .

7.42
7.41
7.40
7,02 r
5.33
7.79
7.78
7.78
7.52r
6.48
7.55
7.53
7.54
7.36r
6.62
53.43
53.56
53.52
54.76r
60.17
8,74
8.74
8.72
8.64
8.39
8.42
8.44
8.40
8.30
7.94
9.13
9.19
9.18
9.16
9.07
9.10
5.25
5.25
5.15
5.10
—
y As of weck end Lng lanunrv IS. 1^ 7 /. 2/ 7-day average for statement week ended on preceding Wednesday, 3/ Bills
quoted on bank discount basis. 4/ 'fields on actively traded issues adjusted to constant maturities. Source: U.S.
Treasury Department.
>/ Unweighted average nf all issues outstanding. 6 / Bonds neither due nor callable in less
than 10 years. 7/ Derived Irom "long-term" vtelds above on the basis of an assumed 20-year bond with a 3 per cent
coupon. 8 / As of Jan. 10. 9/ As of Ian. 9. * Jan. 5 revised to 7.71. ** Jan. 4 revised to 7.02; Jan. 5 to 7.01;
wk. avg. to 7.02. *** -inn. 3 revised to 7.50; Jan. 4 to 7.52; wk. avg. to 7.52. **** Jan. 5 revised to 7.37; wk.
avg. to 7.36. ***** Jan. 5 revised to 54.65; wk. avg. to 54.76.