Full text of G.13 Selected Interest Rates : August 6, 1996
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FEDERAL RESERVE statistical release These data are released the first Tuesday of each month. The availability of the release is announced on (202) 452-3206. G .1 3 (415) SELECTED INTEREST RATES For immediate release August 6, 1996 Yields in percent per annum W e e k Ending Instrum e nts Federal funds (effective ) 1 2 3 Commercial p a p e r 345 1-month 3-month 6-month Finance paper placed directly 346 1-month 3-month 6-month Bankers acceptances (top rated )347 3-month 6-month CDs (secondary market) 3 8 1-month 3-month 6-month Eurodollar deposits (London) 3 9 1-month 3-month 6-month Bank prime lo a n 2310 Discount window borrowing 2 11 U.S. government securities Treasury bills Auction average 3412 3-month 6-month 1-year Secondary m a rke t 3 4 3-month 6-month 1-year Treasury constant maturities 13 3-month 6-month 1-year 2-year 3-year 5-year 7-year 10-year 20-year 30-year Composite* Over 10 years (long-term ) 14 Corporate bonds Moody’s seasoned Aaa Baa A-utility 16 State & local bonds 16 Conventional m ortga ge s 17 Jul 5 Jul 12 Jul 19 Jul 26 A ug Jun Ju l 5.53 5.26 5.23 5.25 5.53 5.27 5.40 5.49 5.52 5.63 5.45 5.56 5.70 5.44 5.54 5.69 5.40 5.51 5.65 5.43 5.52 5.65 5.45 5.49 5.57 5.44 5.53 5.67 5.35 5.39 5.36 5.36 5.45 5.48 5.31 5.44 5.45 5.29 5.42 5.43 5.32 5.43 5.44 5.35 5.37 5.35 5.33 5.43 5.44 5.43 5.52 5.47 5.59 5.45 5.58 5.44 5.55 5.44 5.56 5.38 5.47 5.45 5.57 5.39 5.49 5.69 5.40 5.57 5.80 5.36 5.54 5.75 5.33 5.51 5.73 5.35 5.52 5.72 5.37 5.46 5.64 5.37 5.53 5.75 5.35 5.45 5.64 8.25 5.00 5.36 5.54 5.77 8.25 5.00 5.27 5.48 5.73 8.25 5.00 5.26 5.47 5.71 8.25 5.00 5.33 5.51 5.72 8.25 5.00 5.33 5.46 5.64 8.25 5.00 5.31 5.49 5.72 8.25 5.00 5.12 5.22 5.21 5.41 5.19 5.36 5.14 5.30 5.49 5.20 5.34 5.11 5.26 5.56 5.17 5.32 5.49 5.13 5.26 5.49 5.15 5.34 5.57 5.13 5.28 5.47 5.16 5.30 5.53 5.15 5.24 5.48 5.09 5.25 5.48 5.15 5.30 5.52 5.29 5.49 5.82 6.25 6.43 6.60 6.73 6.85 7.12 7.00 5.30 5.58 5.90 6.34 6.53 6.72 5.28 5.50 5.80 6.95 7.23 7.11 6.40 6.59 6.71 6.81 7.11 7.00 5.30 5.53 5.85 6.25 6.44 6.62 6.73 6.85 7.12 7.02 5.30 5.45 5.80 6.17 6.34 6.52 6.63 6.76 7.03 6.94 5.23 5.46 5.81 6.30 6.49 6.69 6.83 6.91 7.22 7.06 5.30 5.52 5.85 6.27 6.45 6.64 6.76 6.87 7.14 7.03 7.10 7.21 7.09 7.10 7.02 7.20 7.13 7.62 8.32 8.23 5.94 8.14 7.73 8.42 8.09 7.61 8.32 5.88 8.23 7.55 8.27 7.76 5.79 8.23 7.71 8.40 8.13 6.00 7.62 8.34 8.06 5.86 8.19 7.65 8.35 8.07 5.92 8.25 6.86 8.42 6.22 8.01 2 6.02 8.32 See overleaf for footnotes , . , A1, ^ .-7 on ‘ Weekly rate for June 28 and monthly rate for June were unavailable in time for last month s G.13. The rates were 7.14 and 7.20, respectively. Federal Reserve Board August 6,1996 G.13 (415) Selected Interest Rates Yields in percent per annum Fed funds Jul1 Jul 2 Jul 3 Jul 4 * Jul 5 Jul 8 Jul 9 Jul 10 Jul 11 Jul 12 Jul 15 Jul 16 Jul 17 Jul 18 Jul 19 Jul 22 Jul 23 Jul 24 Jul 25 Jul 26 Jul 29 Jul 30 Jul 31 7.80 5.29 5.38 5.38 5.28 5.27 5.14 5.16 5.21 5.18 5.42 5.20 5.25 5.28 5.22 5.25 5.25 5.29 5.45 5.26 5.37 5.33 6.75 Comm paper 1-mo. — Treasury bills — 3-mo. 6-mo. 1-yr. 3-mo. 6-mo. 1-yr. Treasury constant maturities 2-yr. 3-yr. 5-yr. 7-yr. 10-yr. 20-yr. 30-yr. 5.48 5.48 5.49 5.08 5.18 5.10 5.20 5.27 5.21 5.42 5.48 5.43 5.27 5.32 5.24 5.43 5.49 5.43 5.74 5.80 5.75 6.15 6.22 6.20 6.33 6.40 6.36 6.49 6.56 6.53 6.61 6.67 6.67 6.74 6.80 6.78 7.03 7.06 7.06 6.91 6.94 6.94 5.50 5.49 5.46 5.44 5.43 5.43 5.46 5.46 5.45 5.44 5.41 5.40 5.40 5.40 5.40 5.41 5.42 5.43 5.45 5.16 5.16 5.20 5.15 5.12 5.14 5.15 5.13 5.12 5.11 5.14 5.15 5.16 5.17 5.15 5.15 5.21 5.20 5.18 5.37 5.37 5.40 5.34 5.30 5.30 5.33 5.27 5.27 5.24 5.28 5.30 5.30 5.31 5.30 5.30 5.34 5.29 5.25 5.63 5.64 5.61 5.55 5.52 5.51 5.52 5.44 5.46 5.43 5.50 5.54 5.53 5.54 5.53 5.53 5.59 5.55 5.52 5.31 5.35 5.34 5.29 5.26 5.28 5.32 5.27 5.26 5.25 5.28 5.30 5.30 5.31 5.29 5.29 5.37 5.34 5.32 5.60 5.65 5.63 5.57 5.53 5.52 5.57 5.49 5.49 5.46 5.50 5.53 5.52 5.53 5.53 5.52 5.56 5.51 5.47 5.97 5.98 5.95 5.89 5.85 5.84 5.86 5.77 5.79 5.79 5.81 5.86 5.85 5.86 5.85 5.85 5.93 5.88 5.85 6.44 6.43 6.41 6.34 6.28 6.26 6.32 6.23 6.23 6.16 6.18 6.23 6.23 6.26 6.28 6.25 6.32 6.30 6.22 6.62 6.62 6.61 6.52 6.47 6.45 6.50 6.42 6.43 6.32 6.35 6.43 6.42 6.46 6.46 6.45 6.50 6.47 6.39 6.82 6.81 6.78 6.71 6.67 6.65 6.67 6.61 6.61 6.50 6.55 6.62 6.60 6.63 6.65 6.62 6.69 6.65 6.57 6.95 6.95 6.92 6.85 6.81 6.76 6.79 6.74 6.75 6.61 6.67 6.73 6.70 6.76 6.74 6.74 6.81 6.77 6.68 7.06 7.05 7.00 6.95 6.90 6.85 6.89 6.84 6.83 6.72 6.78 6.84 6.80 6.87 6.87 6.85 6.93 6.89 6.80 7.31 7.32 7.27 7.22 7.19 7.15 7.18 7.14 7.14 7.02 7.08 7.12 7.08 7.15 7.14 7.12 7.19 7.14 7.07 7.19 7.19 7.15 7.10 7.07 7.03 7.07 7.03 7.02 6.92 6.97 7.01 6.97 7.04 7.04 7.02 7.09 7.05 6.98 * Market closed F O O TN O TES 1. The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers. 2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. Quoted on a discount basis. 5. An average of offering rates on commercial paper placed by several leading dealers for firms whose bond rating is AA or the equivalent. 6. An average of offering rates on paper directly placed by finance companies. 7. Representative closing yields for acceptances of the highest rated money center banks. 8. An average of dealer offering rates on nationally traded certificates of deposit. 9. Bid rates for Eurodollar deposits at approximately 11 a.m. London time. 10. One of several base rates used by banks to price short-term business loans. 11. Rate for the Federal Reserve Bank of New York. 12. Auction date for daily data; weekly and monthly averages computed on an issue-date basis. 13. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Department of the Treasury. 14. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years. 15. Estimate of the yield on a recently offered, A-rated utility bond with a maturity of 30 years and call protection of 5 years; Friday quotations. 16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations. 17. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC. Note: Weekly and monthly figures are averages of business days unless otherwise noted. DESCRIPTION O F TH E TR EASU R Y CO N STAN T M ATURITY SERIES Yields on Treasury securities at ’constant maturity’ are interpolated by the U.S. Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations reported by five lead ing U.S. Government securities dealers to the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 3 and 6 months and 1,2, 3, 5, 7,10, 20, and 30 years. This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. In estimating the 20-year constant maturity, the Treasury incorporates the prevailing market yield on an outstanding Treasury bond with approx imately 20 years remaining to maturity.