Full text of G.13 Selected Interest Rates : December 8, 1992

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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.

For immediate release
December 8, 1992

G .1 3 (415)

SELECTED INTEREST RATES
Yields in percent per annum
W eek Ending
Instruments
Federal funds (effective)1 2 3
Commercial paper345
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 m arket)3 8
1-month
3-month
6-month
Eurodollar deposits (London) 3 9
1-month
3-month
6-month
Bank prime loan 2310
Discount window borrowing 211
U.S. government securities
Treasury bills
Auction average 3412
3-month
6-month
1-year
Auction average (investment)12
3-month
6-month
Secondary m arket3 4
3-month
6-month
1-year
Treasury constant maturities 13
1-year
2-year
3-year
5-year
7-year
10-year
30-year
Composite
Over 10 years (long-term )14
Corporate bonds
Moody’s seasoned
AAA
BAA
A-utility 15
State & local bonds 16
Conventional mortgages 17

See overleaf for footnotes



Nov

Nov

Nov

Nov

Dec

6

13

20

27

4

Oct

Nov

3.07

2.91

2.97

3.10

3.37

3.10

3.09

3.25
3.48
3.49

3.28
3.59
3.60

3.25
3.76
3.76

3.22
3.79
3.79

3.70
3.86
3.86

3.22
3.33
3.33

3.25
3.66
3.67

3.20
3.44
3.43

3.21
3.54
3.53

3.20
3.67
3.63

3.19
3.70
3.64

3.66
3.74
3.68

3.14
3.24
3.23

3.20
3.59
3.56

3.35
3.35

3.47
3.47

3.60
3.60

3.60
3.60

3.65
3.65

3.19
3.19

3.51
3.51

3.15
3.42
3.44

3.15
3.52
3.53

3.15
3.68
3.69

3.33
3.67
3.69

3.97
3.73
3.75

3.11
3.26
3.27

3.23
3.58
3.60

3.09
3.46
3.51
6.00
3.00

3.13
3.61
3.64
6.00
3.00

3.11
3.79
3.80
6.00
3.00

3.30
3.78
3.80
6.00
3.00

4.05
3.80
3.81
6.00
3.00

3.10
3.30
3.32
6.00
3.00

3.20
3.67
3.70
6.00
3.00

3.05
3.27

3.10
3.31

3.13
3.37
3.61

3.27
3.45

3.31
3.46

2.84
2.98
3.12

3.14
3.35
3.61

3.12
3.37

3.17
3.41

3.20
3.48

3.34
3.56

3.39
3.57

2.90
3.07

3.21
3.46

3.03
3.23
3.42

3.08
3.30
3.47

3.16
3.37
3.56

3.24
3.43
3.60

3.30
3.45
3.64

2.86
3.04
3.17

3.13
3.34
3.52

3.58
4.44
5.03
5.96
6.47
6.90
7.69

3.64
4.51
5.09
6.00
6.48
6.88
7.64

3.73
4.64
5.17
6.05
6.48
6.84
7.54

3.76
4.69
5.24
6.12
6.52
6.86
7.56

3.82
4.78
5.35
6.20
6.59
6.91
7.56

3.30
4.08
4.64
5.60
6.15
6.59
7.53

3.68
4.58
5.14
6.04
6.49
6.87
7.61

7.47

7.44

7.39

7.41

7.44

7.26

7.43

8.11
9.02
8.65
6.51
8.29

8.14
9.00
8.49
6.38
8.32

8.07
8.91
8.40
6.28
8.32

8.06
8.91
8.48
6.26
8.29

8.06
8.92
8.35
6.28
8.34

7.99
8.84
8.40
6.41
8.09

8.10
8.96
8.51
6.36
8.31

*

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

Nov 2
Nov 3
Nov 4
Nov 5
Nov 6
Nov 9
Nov 10
Nov 11 *
Nov 12
Nov 13
Nov 16
Nov 17
Nov 18
Nov 19
Nov 20
Nov 23
Nov 24
Nov 25
Nov 26 *
Nov 27
Nov 30

3.21
3.09
2.98
2.92
2.86
2.98
2.93
2.93
3.04
2.85
3.28
3.06
2.89
2.94
2.90
2.89
2.58
4.60
4.60
3.13
3.45

Comm
CDs
paper sec mkt

----- Treasury bills------

----------------- Treasury constant maturities

3-mo.

3-m o.

3-mo.

6-mo.

1-yr.

3.47
3.49
3.47
3.47
3.49
3.56
3.60

3.41
3.45
3.41
3.42
3.41
3.50
3.53

3.01
3.03
3.02
3.01
3.06
3.08
3.08

3.25
3.23
3.22
3.20
3.27
3.30
3.28

3.46
3.41
3.40
3.38
3.44
3.49
3.45

3.62
3.57
3.56
3.54
3.60
3.66
3.62

4.47
4.44
4.44
4.39
4.48
4.57
4.50

3.60
3.59
3.72
3.83
3.79
3.73
3.74
3.77
3.78
3.79

3.52
3.51
3.65
3.77
3.71
3.62
3.66
3.66
3.68
3.66

3.06
3.08
3.12
3.17
3.15
3.15
3.20
3.24
3.22
3.24

3.28
3.32
3.36
3.38
3.35
3.36
3.40
3.43
3.41
3.43

3.42
3.50
3.57
3.54
3.53
3.57
3.61
3.61
3.54
3.59

3.59
3.68
3.77
3.73
3.68
3.72
3.77
3.77
3.69
3.75

3.81
3.88

3.69
3.80

3.25
3.27

3.45
3.48

3.64
3.66

3.81
3.83

1-yr.

2-yr.

3-yr.

5-yr.

7-yr.

10-yr.

30-yr.

5.07
5.03
5.01
4.96
5.07
5.16
5.10

5.96
5.94
5.94
5.93
6.02
6.09
6.01

6.46
6.45
6.46
6.44
6.54
6.59
6.50

6.88
6.87
6.89
6.87
6.97
7.00
6.91

7.66
7.65
7.69
7.69
7.76
7.75
7.68

4.44
4.54
4.68
4.67
4.58
4.59
4.66
4.69
4.61
4.70

5.00
5.09
5.21
5.21
5.11
5.12
5.20
5.22
5.16
5.23

5.89
5.99
6.11
6.08
5.97
6.00
6.08
6.10
6.04
6.12

6.38
6.44
6.54
6.51
6.41
6.44
6.48
6.51
6.45
6.50

6.79
6.82
6.90
6.86
6.78
6.81
6.84
6.86
6.82
6.84

7.57
7.57
7.56
7.55
7.51
7.54
7.54
7.56
7.53
7.54

4.77
4.79

5.36
5.36

6.22
6.23

6.60
6.61

6.93
6.95

7.59
7.59

* Market closed

FOOTNOTES
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12 .
13 .
14.
15 .
16.
17 .

T h e daily effective federal funds rate is a weighted averag e of rates on trades through N .Y . brokers.
W eekly figures are averag es of 7 calen d ar d a y s ending on W ed n e sd a y of the current w eek; monthly figures include
each ca len d ar day in the month.
A nnualized using a 36 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 d ealers for firms whose bond rating is A A
or the equivalent.
An average of offering rates on paper directly placed by finance co m panies.
R epresentative closing yield s 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.
Bid rates for Eurodollar deposits at 1 1 a.m . London time.
O ne of se ve ral b a se rates used by b anks to price short-term b u sin e ss lo ans.
Rate for the Fed eral R eserve Bank of New York.
Auction date for daily data; w eekly and monthly av erag e s computed on an issue -d ate b asis.
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 ye ars and call protection of 5 years;
Frid ay quotations.
Bond Buyer Index, general obligation, 20 ye ars to maturity, mixed quality; T hu rsd ay quotations.
Contract interest rates on comm itm ents for fixed-rate first m ortgages. S o u rce: F H L M C .

Note: W eekly and monthly figures are av erag e s of b u sin e ss d a y s unless otherwise noted.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Y ie ld s on T re asu ry securities at ’constant maturity’ are interpolated by the U .S . T re asu ry from the daily yield curve. T his curve,
which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded T reasury
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 . Governm ent securities d ealers to the Federal R eserve B ank of New York. The constant maturity yield values are read
from the yield curve at fixed maturities, currently 1 , 2 , 3 , 5 , 7 , 1 0 , and 30 years. T h is method provides a yield for a 1 0 -year maturity,
for exam ple, even if no outstanding security has exactly 10 years rem aining to maturity.