Background to the League > Monthly bulletin of statistics > 1932

— 319 —
Tableau XIV (suite). — Taux de I’escompte. Table XIV (continued). — Rates of discount,
(b) Taux de 1’escompte hors banque. * (b) Market rates of discount. *
Pdriode
Period
1926 .
1927 .
1928 .
1929 .
1930 .
1931 .
(a)
Trim. — Quart.
1929 I . .
II .
III .
IV .
1930
I .
II.
III
IV
Mois — Months
1931 VII .
VIII
IX .
X. .
XI .
XII .
1932
I .
II.
III
IV
V.
VI
VII
Allemagne — Germany
Berlin
Escompte priv6 ; effete de
56 & 90 jours
Private discount;
56-90 days’ bills
Max.
6.75
7
6.875
7.50
6.875
8.25
6.50
7.50
7.50
7.375
6.875
4.75
3.875
5
7 (c)
8.25
8
8
8
6.938
6.81
6.56
5.63
4.88
4.75
4.75
Min.
4.375
4
5.875
5.50
3.125
4.625
5.50
6.375
7.125
6.875
4.875
3.50
3.125
3.875
7 (c)
7.88
8
8
7
6.938
6.56
5.75
4.88
4.75
4.75
4.50
Moy.
Aver.
4.88
5.47
6.54
6.87
4.43
6.14
5.97
7.21
7.25
7.05
5.66
3.98
3.31
4.77
7 (c)
7.94
8
8
7.32
6.94
6.67
6.09
5.13
4.87
4.75
4.58
Autriche — Austria
Vienne — Vienna
Escompte priv6; effete de
60 & 92 jours
Private discount ;
60-92 days* bills
Max.
8.75
6.75
6.375
8.25
7.3125
6.50
6.375
7.3125
7.4375
8.25
7.3125
5.5625
4.6875
4.625
(t)
Mir
5.75
4.75
5.375
6.1875
3.75
3.625
6.1875
6.3125
7.25
7.25
5.5625
4.50
3.75
4
(!)
Moy.
Aver.
6.58
5.79
5.92
7.14
4.91
4.24
6.24
7.12
7.34
7.84
6.29
4.87
4.18
4.30
(t)
Belgique — Belgium
Bruxelles — Brussels
Taux hors banque ; papier
commercial 1-3 mois
Market rates; commercial
paper, 1-3 months
Max.
7.75
4.50
4.4375
5
3.4375
2.4375
3.9688
4
5
4.9375
3.4375
3.375
2.8125
2.4375
2.375
2.4375
4375
2.4375
2.4375
2.4375
3.25
3.375
3.375
3.325
3.25
3.1875
3.2188
Min.
4
3.625
3.75
3.9375
2
2.125
3.9688
3.9375
4
4.375
3.125
2.625
2.375
2
2.125
2.375
2.4375
2.4375
2.4375
2.4375
2.4375
3.25
3.325
3.25
3.1563
3.1563
Moy.
Aver.
6.32
4.05
4.06
4.30
2.78
2.32
3.97
3.97
4.64
4.63
3.38
2.99
2.54
2.22
2.15
2.41
2.44
2.44
2.44
2.44
2.91
3.31
3.36
3.26
3.21
3.16
3.0938 3.17
Danemark
Denmark
Copenhague
Tanx d’escompte des
banques
Bankers’ discount
rate
Max. Min.
5.50
5
5
5.50
5
6
5
5
5.50
5.50
4.50
4
4
3.50
3.50
6
50
3.50
4.50
4
4
3.50
3.50
3.50
3.50
6
Moy.
Aver.
5.24
5
5
5.13
4.19
4.22
5
5
5.02
5.48
4.87
4.18
4
3.73
3.50
3.50
4.62
6
6
6
6
6
5.33
5
4.97
4
4
Etats-Unis — United States
New-York
Papier commercial,
4-6 mois
Commercial paper,
4-6 months
Max.
(b)
4.75
4.50
5.75
6.25
5
4.25
6
6
6.25
6.25
5
4
3.50
3
2
2
2
4.25
4.25
4
4
4
3.75
3.75
3.50
3
2.75
Min.
(b)
3.75
4
4
5
2.75
2
5.25
6
6
5
3.75
3.25
3
2.75
2
2
2
2
3.75
3.75
3.75
3.75
3.50
3.25
2.75
2.50
2.25
Moy.
Aver.
New-York
Acceptations bancaires,
90 Jours
Bankers’ acceptance*,
90 days
Max.
4.32
4.10
4.84
5.84
3.58
2.67
5.60
5.99
6.11
5.64
4.61
3.74
3.06
2.92
2
2
2.02
3.50
4.03
3.88
3.88
3.84
3.83
3.73
3.27
2.94
2.54
(b)
3.875
3.75
4.625
5.125
4
3.75
5.50
5.50
5.125
5.125
4
3
1.875
1.875
0.875
0.875
1.25
3.75
3.25
3
3
2.875
2.625
2.125
1.125
0.875
0.75
Min.
(b)
3.125
3.125
3.375
3.75
1.875
0.875
4.75
5.50
5.125
3.75
2.50
1.875
1.875
1.875
0.875
0.875
0.875
1.25
2.875
3
2.75
2.75
2.375
0.875
0.875
0.875
0.75
Moy.
Aver
3.59
3.45
4.10
5.03
2.46
1.58
5.11
5.48
5.14
4.38
3.60
2.49
1.88
1.88
0.88
0.88
0.98
2.43
2.99
3
2.86
2.75
2.50
1.45
0.93
0.88
0.75
France
Japon — Japan
Periods
Period
Paris
Escompte hors banque; papier
commercial 45-90 jours
Market discount; commercial
paper 45-90 days
Tokio
Papier commercial
60 jours
Commercial Paper
60 days
Max.
Min.
1926
1927
1928
1929
1930
1931
7.375
4.75
3.375
3.625
3.4375
2.0625
Trim. — Quart.
1929 I . .
II. .
III .
IV .
3.375
3.50
3.50
3.625
1930 I .
II.
III
IV
3.4375
2.625
2.50
2
Mois - Months
1931 VII .
VIII
IX .
X. .
XI .
XII .
fd)
1.625
1.625
1.50
2
1.875
1.875
1932 I .
II.
III
IV
V.
VI
VII
1.875
1.875
1.875
1.875
1.375
1.125
1
4
1.875
2.50
3.375
1.875
1.0625
3.375
3.375
3.50
3.4375
2.50
1.875
1.9375
1.9375
fdj
1.0625
1.25
1.375
1.50
1.875
1.875
1.75
1.8125
1.875
1.3333
1.125
1.0625
0.875
Moy.
Aver.
Max.
Min.
2.98
3.46
2.32
1.57
7.8465
7.1175
5.8035
5.475
5.11
6.205
3.38
3.45
3.50
3.50
5.475
5.11
5.11
4.9275
5.11
5.11
5.11
5.11
4.745
4.745
4.745
4.9275
5.84
6.205
1.87
1.81
1.73
1.37
1.12
re;
fej
6.205
5.84
5.84
5.84
5.84
5.84
6.789
6.2415
5.2925
4.745
4.745
4.015
4.745
4.745
4.745
4.745
4.745
4.745
4.745
4.745
4.015
4.015
4.015
4.745
4.745
5.11
5.11
5.11
5.11
5.11
5.11
5.11
Pays-Bas — Netherlands
Escompte priv6
Private discount
3.5625
4.625
4.50
5.50
3.75
3.0625
5.50
5.4375
5.4375
5.375
3.75
2.9375
2.25
2
2.0625
2
3
3.0625
2.8125
2.875
2.6875
2.25
1.3125
1.875
0.8125
0.5625
2.75
3.75
3.1875
1.1875
0.50
4
5.25
4.875
3.1875
2.125
1.8125
1.6875
1.1875
0.8125
0.6875
0.50
2.50
0.9375
1
1.875
1.3125
1.125
0.8125
0.5625
0.4375
Moy.
Aver.
2.88
3.76
4.18
4.82
2.06
1.42
4.38
5.35
5.19
4.30
2.75
2.17
1.90
1.43
1.41
1.28
1.01
2.74
1.67
1.47
2.09
1.89
1.21
1
0.7-1
0.52
Boy. Uni — U. K.
Londres — London
Traites bancaires,
90 jours
Bankers’ drafts,
90 days
Min.
4.9375
4.375
4.625
6.25
4.4375
5.9063
5.375
5.4375
6.25
6.25
4.4375
2.5625
2.50
2.50
4.3438
4.3438
5.8125
5.75
5.875
5.9063
5.8125
5.1875
3.50
2.4375
2.0313
1.0938
1.0938
4.0625
3.625
3.625
4.25
2
1.3125
4.25
5.0313
5.3125
4.50
2.125
2.0625
2.0625
1.3125
4.0625
4.1563
5.4375
5.625
5.625
4.75
3.50
2.125
1.9063
1.0625
1
0.7188
Moy.
Aver,
Su£de — Sweden
Suisse — Switzerland
Stockholm
Papier commercial,
3 mois
Commercial paper,
3 months
Zurich
Escompte hors banque
effets & 3 mois
Market discount;
3 months’ bills
Max.
4.46
4.23
4.16
5.26
2.57
3.61
4.90
5.25
5.48
5.41
3.55
2.32
2.22
2.20
2.59
4.28
4.75
5.69
5.75
5.88
5.56
4.66
2.59
2.19
1.44
1.06
0.93
4.50
4.50
4.50
5.50
4.50
8
4.50
4.50
5.50
5.50
4.50
4
3.50
3.50
6
6
5.50
5
5
4.50
4
Min.
Moy.
Aver.
Max.
Min.
4.50
4
3.50
4.50
3.50
3
4.50
4.50
4.50
5
4
3.50
3.50
3.50
6
5.50
5
5
4.50
4
4
4.50
4.15
4.01
4.74
3.72
4.09
3.4375
3.50
3.4375
3.50
3.25
2
4.50
4.50
4.54
5.40
3.4375
3.50
3.4375
3.4375
4.37
3.51
3.50
3.50
3.25
2.625
2
1.50
3.03
4
4.73
6.70
6
6
1.875
1.9375
1.9375
1.75
6
5.80
5.03
5
4.80
4
4
75
1.5625
1.50
1.50
1.50
1.50
1.50
2.125
2.75
3.25
3.125
1.0625
0.9375
3.25
3.25
3.125
3.125
2.5625
2
1.375
1.0625
1.125
1.875
1.75
1.875
1.75
1.75
1.5625
1.50
1.50
1.50
1.50
1 .50
1.50
Moy.
Aver.
2.52
3.27
3.33
3.31
2.01
1.44
3.33
3.35
3.30
3.28
2.76
2.37
1.72
1.21
1.55
1.98
1.80
1.90
1.77
1.75
1.68
1.52
1.50
1.50
1.50
1.50
1.50
La tenninologie employee est celie en usage dans chaque pays ; des denominations difterentes ne correspondent pas nfeessairement k des effets de nature difKrente.
Q entend par moyenne, la moyenne des taux joumaliers. Voir introduction au Bulletin N° 10 de 1930.
et '.a*. A,lemaSiie : Les chiffres se rapportent k la p4riode du 1 /I au 11 /VII et du 3 /IX au 31 /XII. Autriche : Les chiffres se rapportent k la pfriode janvier-juin. — (i) Maximum
™n’mum : de variation des taux prfcponderants. — (c) Du ler au 11 juillet ; 4u 12 juillet au 3 septembre, Bourses fermces. — <d) taux en fin de semaine.
^epuis juillet 1931, pas de transactions. — (e) Moyenne des taux en fin de semaine: VI, 1.11% ; VII, 0.98%.
, , ,1116 terminology employed is that in use in each country ; different terms do not necessarily correspond to different bills. — Averages are those of daily rates. See
introduction to Bulletin No. 10, 1930.
mi Geimany : Figures refer to the period from 1 /I to 11 /XII and from 3 /IX to 31 /XII. Austria: Figures refer to the period January-June. — (J) Not actual maximum and
range of prevailing rates. — (c) From 1st to 11th July. Stock exchanges closed from July 12th to September 3rd. — (d) End of week rates. — (/) Since
no transactions. — (e) Average of end of week rates: VI, 1.11%; VII, 0.98%.