Reserve Bank of Australia Annual Report – 1968 Australian Interest Rates and Security Yields
| At end of | Deposit Rates(a) | Bank Overdraft Rates(b) | Government Security Yields(e) | Rates on First Ranking Debentures issued by Finance companies associated with Major Trading Banks. | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trading Banks(b) | Savings Banks(d) |
Treasury Notes(f) | Shorts(g) | Longs(h) | |||||||||
| 3 months | 6 months | 12 months | 24 months (c) | 13 week | 26 week | 1 year | 2 years | 5 years | |||||
| 1949/50 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.08 | 3.18 | |||||
| 1950/51 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.18 | 3.54 | |||||
| 1951/52 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.34 | 4.65 | |||||
| 1952/53 | 1.00 | 1.25 | 1.50 | 1.75 | 2.25 | 5.00 | 3.29 | 4.51 | |||||
| 1953/54 | 1.00 | 1.25 | 1.50 | 1.75 | 2.25 | 5.00 | 3.55 | 4.47 | |||||
| 1954/55 | 1.25 | 1.50 | 1.75 | 2.00 | 2.50 | 5.00 | 3.87 | 4.56 | 4.00 | 5.00 | 6.00 | ||
| 1955/56 | 2.25 | 2.50 | 2.75 | 3.00 | 2.75 | 6.00 | 5.26 | 5.37 | 5.00 | 5.50 | 7.00 | ||
| 1956/57 | 2.25 | 2.50 | 2.75 | 3.50 | 2.75 | 6.00 | 4.75 | 5.07 | 5.00 | 5.50 | 6.00/7.00 | ||
| 1957/58 | 2.25 | 2.50 | 2.75 | 3.50 | 2.75 | 6.00 | 4.38 | 4.98 | 5.00 | 5.50 | 6.00/7.00 | ||
| 1958/59 | 2.25 | 2.50 | 2.75 | 3.50 | 3.00 | 6.00 | 4.13 | 4.92 | 5.00 | 5.50 | 6.50/7.00 | ||
| 1959/60 | 2.25 | 2.50 | 2.75 | 3.50 | 3.00 | 6.00 | 3.13 | 4.32 | 5.01 | 5.00 | 5.50 | 6.50/7.00 | |
| 3 months but less than 12 months |
12 months | ||||||||||||
| 1960/61 | 4.00 | 4.50 | 3.25 | 7.00 | 4.25 | 5.36 | 5.38 | 5.75/6.25 | 6.00/7.00 | 6.75/7.50 | |||
| 1961/62 | 3.75 | 4.00 | 3.50 | 7.00 | 3.75 | 4.43 | 4.95 | 4.75/6.00 | 5.25/5.75 | 6.25/7.00 | |||
| 12 months to 15 months |
|||||||||||||
| 1962/63 | 3.25 | 3.50 | 3.00 | 6.50 | 3.23 | 3.88 | 4.57 | 4.75 | 6.50 | ||||
| 1963/64 | 3.75(i) | 4.00 | 3.25 | 7.00 | 3.75 | 4.36 | 4.75 | 4.25/4.50 | 4.75/5.25 | 5.50/6.50 | |||
| 12 months to 18 months |
Over 18 months to 24 months |
||||||||||||
| (j) | |||||||||||||
| 1964/65 | 4.25(i) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.95 | 5.25 | 5.25/5.50 | 6.00 | 6.75/7.00 | ||
| 1965/66 | |||||||||||||
| Sept. | 4.25(i) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.98 | 5.26 | 5.25/5.50 | 6.00/6.50 | 6.75/7.25 | ||
| Dec. | 4.25(i) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.96 | 5.25 | 5.50/6.00 | 6.00/6.50 | 7.00/7.25 | ||
| Mar. | 4.25(i) | 4.50 | 4.50 | 3.50 | 7.25 | 4.58(e) | 4.98 | 5.25 | 5.50/6.00 | 6.00/6.50 | 7.00 | ||
| June | 4.25(i) | 4.50 | 4.50 | 3.50 | 7.25 | 4.58 | 4.94 | 5.25 | 5.25/6.00 | 5.75/6.50 | 6.75/7.50 | ||
| 1966/67 | |||||||||||||
| Sept. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.58 | 4.96 | 5.25 | 5.25/6.00 | 5.75/6.50 | 6.75/7.50 | ||
| Dec. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.26 | 4.53 | 5.25 | 5.25/6.00 | 6.00/6.50 | 6.75/7.25 | ||
| Mar. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.26 | 4.51 | 5.25 | 5.25/6.00 | 6.00/6.50 | 6.75/7.50 | ||
| June | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.26 | 4.52 | 5.25 | 5.25/6.00 | 5.75/6.50 | 6.50/7.50 | ||
| 1967/68 | |||||||||||||
| Sept. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.26 | 4.39 | 4.51 | 5.25 | 5.25/6.00 | 5.75/6.25 | 6.50/7.00 | |
| Dec. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.50 | 4.60 | 4.71 | 5.25 | 5.50/5.75 | 5.75/6.25 | 6.25/7.00 | |
| Mar. | 4.00(i) | 4.25 | 4.50 | 3.50 | 7.25 | 4.42 | 4.51 | 4.86 | 5.25 | 5.50/6.00 | 5.75/6.25 | 6.75/7.00 | |
| June | 4.25(i) | 4.50(j) | 4.75(j) | 3.50 | 7.25 | 4.42 | 4.51 | 4.84 | 5.25 | 5.50/6.00 | 6.00/6.25 | 6.75/7.00 | |
|
(a) Australian Resources Development Bank Limited (commenced business 29 March 1968)—term
deposits: 4 years 5.25%, 5 years 5.5%; Transferable Certificates of Deposit
(issue opened and closed 22 April 1968): 6 years 6%, 8 years 6.25%, 10
years 6.5%. (b) Prescribed maximum rates; certain categories of lending have been exempted from maximum overdraft interest rate arrangements. From April 1956 to April 1962, each bank also required to observe a maximum average rate over all advances (5.5% from April 1956, and 6% from November 1960). (c) Until July 1952, the rate on amounts in excess of $20,000 was 1% and from July 1952 to January 1955, 1.5%. (d) Rates paid by majority of savings banks. The remaining savings banks, whose deposits comprise about 10% of total, pay rates generally 0.25% higher than rates shown. (e) A rebate of Commonwealth taxation of 10 cents is allowable on each dollar of interest included in taxable income, except on interest on which withholding tax is payable and, from February 1966, on income from Treasury notes. (f) Issue yield. Before 1962/63 yields are for issue closest to end of year for Seasonal Securities issued during certain months of 1959/62. Treasury bills (maximum term 3 months) are also issued, at a discount rate of 1% p.a. (unchanged since August 1952); these are not held by the public. (g) Theoretical yield on 2-year maturity (excluding effect of brokerage). (h) Before 1959/60, weighted average of yields on maturities 10 years or more; since then, theoretical yield on 20-year maturity. All figures exclude effect of brokerage. (i) Maximum rate also for periods of from 30 days to three months on amounts of $100,000 and over. (j) From 27 June 1968 periods are for “12 months but less than 18 months” and “18 months to 24 months”. |
|||||||||||||