Reserve Bank of Australia Annual Report – 1963 Australian Interest Rates and Security Yields

Australian Interest Rates and Security Yields
(Per cent—per annum)
At end of Deposit Rates Bank Overdraft Rates(c)
 		 Government Security Yields(d) Company Debenture Issue Rates
Trading Banks Savings Banks(b) Treasury Notes(e) Shorts(f) Longs(g) Hire Purchase Affiliated with Banks Selected Other
(mainly finance)
5 years
3 months 6 months 12 months 24 months(a) 3 months 12 months
1949/50 ½ ¾ 1 1½ 2 4½   1.95 3.15      
1950/51 ½ ¾ 1 1½ 2 4½   2.05 3.51      
1951/52 ½ ¾ 1 1½ 2 4½   2.21 4.62      
1952/53 1 1¼ 1½ 1¾ 2¼ 5   3.16 4.48 3¼ 4 5
1953/54 1 1¼ 1½ 1¾ 2¼ 5   3.42 4.44 3¼ 4 5
1954/55 1¼ 1½ 1¾ 2 2½ 5   3.74 4.53 3¼ 4¼ 6/7
1955/56 2¼ 2½ 2¾ 3 2¾ 6   5.13 5.34 3½ 5 6/7
1956/57 2¼ 2½ 2¾ 3½ 2¾ 6   4.62 5.04 3½ 5 7/8
1957/58 2¼ 2½ 2¾ 3½ 2¾ 6   4.25 4.95 3½ 5 7/8
1958/59 2¼ 2½ 2¾ 3½ 3 6   4.00 4.89 3½ 5 7/8
1959/60 2¼ 2½ 2¾ 3½ 3 6 3.13(h) 4.20 4.95 3½ 5 7/8
  3 months but less than
12 months		  
1960/61 4 4½ — 3¼ 7 4.25(h) 5.23 5.36 3¾/5½ 5¾/6¼ 8/8½
1961/62    
Sept. 4 4¼ — 3½ 7 3.95 4.59 5.33      
Dec. 4 4¼ — 3½ 7 3.95 4.36 4.98      
Mar. 4 4¼ — 3½ 7 3.75 4.39 4.95      
June 3¾ 4 — 3½ 7 — 4.30 4.93 4 4¾/6 7/8½
    12 months to 15 months  
1962/63
Sept. 3¾ 4 3½ 7 3.64 4.25 4.94      
Dec. 3¾ 4 3½ 7 3.64 4.13 4.88      
Mar. 3¾ 4 3½ 7 3.64 4.04 4.84      
June 3¾ 3½ 3 6½ 3.23 3.75 4.50 4 4¾/5 6¾/8¼
(a) Until July, 1952, the rate on amounts in excess of £10,000 was 1% and from July, 1952 to January, 1955, 1½%. From November, 1960, banks no longer accepted deposits of 24 months' term.
(b) Rate paid by majority of savings banks. The remaining savings banks, whose deposits comprise about 10% of the total, have paid at times up to ½% higher than rate shown.
(c) Prescribed maximum rates. From April, 1956 to April, 1962, each bank was also required to observe a maximum average rate over all advances (5½% from April, 1956, and 6% from November, 1960).
(d) A three months' Treasury bill is also issued, at a discount rate of 1% (unchanged since August, 1952); these are not held by the public.
(e) Three months' securities, issued at a discount equivalent approximately to the yield shown. Prior to 1962/63, yields shown are for similar issues during certain months of 1959/62 which were known as seasonal securities.
(f) Theoretical yield on 2-year maturity.
(g) Prior to 1959/60, weighted average of yields on maturities 10 years or more. Since then, theoretical yield on 15-year maturity.
(h) Yield for last issue in year of seasonal securities.