Full text of G.13 Selected Interest Rates : December 7, 1993

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T f f *

FEDERAL RESERVE statistical release
These data are released the first Tuesday of each month. The availability of the release is announced ori (202) 452-320)6''

G .1 3 (415)

>

r -

SELECTED INTEREST RATES

1u

L

Yields in percent per annum

r -

,

Cl

Week Ending
Instrum ents

Federal funds (effective) 1 23
Commercial pa pe r345
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) 30
1-month
3-month
6-month
Eurodollar deposits (London) 39
1-month
3-month
6-month
Bank prime loan 2310
Discount window borrowing 211
U.S. government securities
Treasury bills
Auction average 34 12
3-month
6-month
1-year
Auction average (investment) 13
3-month
6-month
1-year
Secondary m arket3 4
3-month
6-month
1-year
Treasury constant maturities 14
1-year
2-year
3-year
5-year
7-year
10-year
20-year
30-year
Composite
Over 10 years (long-term )15
Corporate bonds
Moody’s seasoned
Aaa
Baa
A-utility 16
State & local bonds 17
Conventional mortgages 10

See overleaf for footnotes



For immediate release
December 7, 1993

...
11

Nov

Nov

Nov

Nov

Nov

12

19

26

Dec
3

O ct

5
3.04

2.96

3.03

2.98

3.09

2.99

3.02

3.15
3.38
3.40

3.15
3.40
3.42

3.14
3.40
3.43

3.15
3.42
3.45

3.27
3.44
3.46

3.14
3.26
3.27

3.15
3.40
3.43

3.09
3.23
3.19

3.09
3.26
3.19

3.08
3.26
3.19

3.06
3.27
3.20

3.14
3.26
3.21

3.08
3.16
3.13

3.08
3.25
3.19

3.31
3.32

3.30
3.33

3.28
3.31

3.29
3.31

3.30
3.34

3.19
3.19

3.29
3.32

3.11
3.36
3.39

3.10
3.36
3.39

3.09
3.33
3.36

3.09
3.36
3.40

3.34
3.35
3.40

3.09
3.24
3.25

3.11
3.35
3.39

3.06
3.35
3.41
6.00
3.00

3.06
3.38
3.39
6.00
3.00

3.01
3.34
3.39
6.00
3.00

3.05
3.38
3.40
6.00
3.00

3.35
3.38
3.41
6.00
3.00

3.06
3.26
3.26
6.00
3.00

3.06
3.36
3.40
6.00
3.00

3.11
3.25

3.11
3.28

3.11
3.26
3.43

3.14
3.30

3.12
3.26

3.04
3.13
3.25

3.12
3.27
3.43

3.18
3.35

3.18
3.38

3.18
3.36
3.57

3.21
3.40

3.19
3.36

3.10
3.23
3.38

3.19
3.37
3.57

3.08
3.25
3.40

3.10
3.25
3.39

3.11
3.25
3.42

3.12
3.27
3.46

3.12
3.27
3.46

3.02
3.12
3.25

3.10
3.26
3.42

3.56
4.15
4.47
5.03
5.41
5.66
6.31
6.12

3.55
4.13
4.48
5.04
5.42
5.68
6.35
6.19

3.58
4.13
4.49
5.04
5.41
5.71
6.39
6.22

3.61
4.20
4.56
5.13
5.54
5.83
6.47
6.31

3.62
4.21
4.54
5.14
5.51
5.80
6.42
6.26

3.39
3.87
4.18
4.71
5.05
5.33
6.07
5.94

3.58
4.16
4.50
5.06
5.45
5.72
6.38
6.21

6.17

6.21

6.25

6.34

6.29

5.90

6.25

6.87
7.57
7.25
5.45
7.11

6.92
7.65
7.23
5.46
7.12

6.94
7.69
7.37
5.46
7.08

6.99
7.74

6.95

6.93

7.27

7.24

5.49
7.31

5.46
7.25

6.67
7.31
6.91
5.25
6.83

7.70

7 7S

7.25
5.47
7.16

Federal Reserve Board
December 7, 1993

G.13 (415)
Selected Interest Rates
Yields in percent per annum

Nov 1
Nov 2
Nov 3
Nov 4
Nov 5
Nov 8
Nov 9
Nov 10
Nov 11 *
Nov 12
Nov 15
Nov 16
Nov 17
Nov 18
Nov 19
Nov 22
Nov 23
Nov 24
Nov 25 *
Nov 26
Nov 29
Nov 30

Fed
funds

Com m
paper
3-mo.

CDs
sec mkt
3-mo.

3.15
3.02
2.98
2.99
2.95
3.04
2.95
2.91
2.91
3.03
3.23
3.02
2.99
2.99
2.94
3.05
2.94
3.03
3.03
3.09
3.12
3.16

3.32
3.37
3.39
3.40
3.40
3.41
3.39
3.40

3.33
3.37
3.37
3.37
3.36
3.39
3.33
3.35

3.06
3.12
3.09
3.08
3.06
3.06
3.11
3.12

3.23
3.28
3.25
3.24
3.26
3.24
3.26
3.26

3.38
3.43
3.40
3.39
3.42
3.39
3.38
3.40

3.53
3.59
3.56
3.55
3.58
3.55
3.54
3.56

4.11
4.16
4.13
4.13
4.20
4.13
4.12
4.17

4.42
4.49
4.46
4.47
4.53
4.47
4.47
4.51

4.96
5.02
5.01
5.03
5.11
5.04
5.02
5.08

5.32
5.41
5.39
5.42
5.50
5.44
5.41
5.45

5.56
5.63
5.67
5.67
5.75
5.70
5.64
5.72

6.19
6.28
6.32
6.34
6.40
6.38
6.31
6.38

6.02
6.07
6.11
6.19
6.22
6.22
6.16
6.21

3.40
3.41
3.40
3.40
3.40
3.41
3.42
3.42
3.42

3.36
3.35
3.32
3.32
3.31
3.35
3.37
3.36
3.35

3.11
3.11
3.09
3.09
3.11
3.13
3.13
3.12
3.12

3.25
3.25
3.24
3.23
3.25
3.28
3.29
3.27
3.26

3.38
3.39
3.37
3.41
3.45
3.49
3.50
3.45
3.45

3.54
3.56
3.56
3.55
3.59
3.64
3.65
3.60
3.60

4.11
4.11
4.10
4.09
4.15
4.22
4.26
4.19
4.18

4.45
4.49
4.45
4.42
4.49
4.58
4.61
4.55
4.54

5.02
5.02
4.98
4.99
5.06
5.16
5.20
5.14
5.11

5.39
5.40
5.35
5.35
5.43
5.54
5.60
5.52
5.54

5.66
5.69
5.66
5.65
5.72
5.84
5.89
5.82
5.84

6.33
6.36
6.35
6.35
6.40
6.50
6.53
6.46
6.47

6.15
6.17
6.17
6.19
6.23
6.34
6.36
6.30
6.31

3.42
3.43
3.44

3.35
3.34
3.35

3.11
3.12
3.14

3.26
3.26
3.30

3.43
3.44
3.49

3.58
3.60
3.65

4.16
4.17
4.22

4.52
4.49
4.55

5.08
5.08
5.15

5.49
5.46
5.53

5.78
5.76
5.83

6.43
6.40
6.46

6.26
6.23
6.29

— Treasury bills—
3-mo. 6-mo. 1-yr.

-------------------------1-yr.
2-yr.

Treasury constant maturities -------------------------------3-yr.
5-yr.
7-yr.
10-yr.
20-yr.
30-yr.

* Market closed

FOOTNOTES
1.
2.
3.
4.
5.
6.
7.
8.
9.

10.
11.
12.
13 .
14 .
15 .
16.
17 .
18.

T he daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are averag e s of 7 calen d ar d a y s ending on W ed n e sd a y of the current week; monthly figures include
each calendar day in the month.
Annualized using a 3 6 0 -d ay year or bank interest.
Quoted on a discount b asis.
An average of offering rates on com m ercial paper placed by several leading dealers for firms whose bond rating is A A
or the equivalent.
An average of offering rates on paper directly placed by finance com panies.
Representative closing yields for accep tan ces of the highest rated m oney center banks.
An average of d ealer offering rates on nationally traded certificates of deposit.
B id ra te s fo r E u ro d o lla r d e p o s its at 11 a .m . L o n d o n tim e .

O ne of several b ase rates used by banks to price short-term b u sin e ss loans.
Rate for the Federal R eserve Bank of New York.
Auction date for daily data; weekly and monthly averag es computed on an issue -d ate b asis.
Auction dates for daily, w eekly and monthly averages.
Y ie ld s on actively traded issu e s adjusted to constant maturities. So urce: U .S. Tre asury.
Unweighted average of rates on all outstanding bonds neither due nor callable in le ss than 10 years.
Estim ate 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.
Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thu rsd ay quotations.
Contract interest rates on commitments for fixed-rate first m ortgages. S o urce: F H L M C .

Note: W eekly and monthly figures are averag e s of b u sin ess d ays unless otherwise noted.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Y ie ld s on Tre asury securities at ’constant maturity’ are interpolated by the U .S. Tre asury from the daily yield curve. T h is curve,
which relates the yield on a security to its time to maturity, is based on the closing market bid yield s on actively traded Treasury
securities in the over-the-counter market. T h e se market yields are calculated from com posites of quotations reported by five lead­
ing U .S . G overnm ent securities dealers to the Federal R eserve B ank of New York. The constant maturity yield va lu e s are read
from the yield curve at fixed maturities, currently 1 , 2 , 3, 5, 7, 10 , 20, and 30 years. T h is method provides a yield for a 10 -y e a r
maturity, for exam ple, even if no outstanding security has exactly 10 years rem aining to maturity. In estimating the 2 0 -y e a r con­
stant maturity, the T re asury incorporates the prevailing market yield on an outstanding Tre asury bond with approxim ately 20 years
rem aining to maturity.
J