Full text of G.13 Selected Interest Rates : February 4, 1992

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FEDERAL RESERVE statistical release
These data are scheduled for release on the first Tuesday of each month. The availability of the release will be announced
when the information is available, on (202) 452-3206.
G. 1 3

For

(415)

SELECTED INTEREST RATES
Yields

in p e r c e n t

per

annum
Heek

Instruments
FEDERAL FUNDS (EFFECTIVE)
COMMERCIAL PAPER 3 4 5

* 2 3

1-MONTH
3-MONTH
6-MONTH
FINANCE PAPER PLACED DIRECTLY 3 4 6
1-MONTH
3 -MONTH
6-MONTH
B A N K E R S ACCE P T A N C E S (TOP RATED) 3 4 7
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
B A N K P R I M E L O A N 2 3 10
D I S C O U N T H I N D O H B O R R O W I N G 2 11
U.S. G O V E R N M E N T SECURITIES
TREASURY BILLS
A U C T I O N A V E R A G E 3 4 12
3-MONTH
6-MONTH
1-YEAR
AUCTION AVERAGE(INVESTMENT)
3-MONTH
6-MONTH
SECONDARY MARKET 3 4
3-MONTH
6-MONTH
1-YEAR
T R E A S U R Y C O N S T A N T M A T U R I T I E S 13
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
O V E R 1 0 Y E A R S ( L O N G - T E R M ) 14
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A - U T I L I T Y 15
S T A T E & L O C A L B O N D S 16
C O N V E N T I O N A L M O R T G A G E S 17




immediate release
F e b r u a r y 4> 1992

Ending

JAN
3

JAN
10

JAN
17

JAN
24

JAN
31

DEC

JAN

4.19

4.19

4.01

3.87

4.01

4.43

4.03

4.57
4.27
4.17

4.09
4.02
3.99

4.10
4.08
4.08

4.08
4.07
4.08

4.08
4.09
4.09

4.98
4.61
4.49

4.11
4.07
4.06

4.16
4.07
4.00

3.95
3.94
3.92

3.99
4.00
3.95

3.97
3.99
3.97

4.00
4.01
3.98

4.69
4.39
4.31

3.99
3.99
3.95

4.05
3.97

3.92
3.87

3.99
3.99

3.96
3.95

4.00
4.02

4.42
4.28

3.97
3.96

4.35
4.15
4.11

4.04
3.98
3.97

4.08
4.09
4.12

4.06
4.06
4.08

4.06
4.08
4.H

4.84
4.47
4.41

4.07
4.05
4.07

4.33
4.16
4.16
6.50
3.50

4.03
3.96
3.96
6.50
3.50

4.09
4.10
4.13
6.50
3.50

4.06
4.08
4.10
6.50
3.50

4.04
4.08
4.13
6.50
3.50

4.83
4.48
4.42
7.21
4.11

4.07
4.06
4.08
6.50
3.50

3.91
3.91

3.85
3.86

3.83
3.87
3.84

3.78
3.84

3.84
3.93

4.12
4.16
4.20

3.84
3.88
3.84

.
-

12
4.01
4.06

3.95
4.00

3.93
4.01

3.88
3.98

3.94
4.08

4.24
4.32

3.94
4.03

3.87
3.87
3.93

3.77
3.81
3.87

3.81
3.88
3.98

3.77
3.86
3.95

3.84
3.92
4.02

4.07
4.10
4.17

3.80
3.87
3.95

4.14
4.79
5.14
5.98
6.46
6.78
7.45

4.06
4.74
5.12
6.01
6.48
6.80
7.43

4.17
5.02
5.45
6.34
6.76
7.04
7.£>

4.14
5.02
5.47
6.32
6.80
7.14
7.65

4.23
5.14
5.65
6.41
6.88
7.25
7.74

4.38
5.03
5.39
6.19
6.69
7.09
7.70

4.15
4.96
5.40
6.24
6.70
7.03
7.58

7.32

7.29

7.49

7.57

7.66

7.58

7.48

8.17
9.11
8.46
6.52
8.24

8.14
9.05
8.49
6.40
8.23

8.20
9.11
8.58
6.56
8.45

8.22
9.16
8.67
6.59
8.56

8.25
9.20

8.31
9.26
8.68
6.69
8.50

8.20
9.13
8.57
6.54
8.43

SEE OVERLEAF FOR FOOTNOTES

8.72
6.65
8.68

FEDERAL RESERVE BOARD

February 4> 1992
For immediate release
G.13 (continued)
Daily interest rates
(Yields in p e r c e n t p e r an n u m ) *
0
9
8
7
6
5
4
3
2
1

U.S.
Fed
Funds

JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN
JAN

1
2
3
6
7
8
9
10
13
14
15
16
17
20
21
22
23
24
27
28
29
30
31

M
4.61
4.06
4.04
3.67
4.83
4.22
3.96
3.98
3.95
4.04
3.94
3.56
M
4.11
4.82
4.15
3.96
4.08
4.00
3.93
4.02
4.40

Government

Securities

CDs

Comm
Paper
3-mo.

Sec Mkt
3 -m o .

A
4.16
4.13
4.12
4.06
3.99
3.94
3.99
4.02
4.07
4.12
4.13
4.07
A
4.06
4.07
4.06
4.10
4.10
4.10
4.05
4.08
4.11

R
4.04
4.06
4.06
4.00
3.94
3.89
4.00
4.04
4.07
4.13
4.14
4.07
R
4.05
4.03
4.05
4.09
4.10
4.10
4.03
4.08
4.07

----T r e a s u r y B i l l s ----3-mo.
6-mo.
1-yr.

E
3.87
3.88
3.84
3.79
3.76
3.82
3.86
3.86
3.87
3.91
3.88
3.88
E
3.83
3.83
3.84
3.92
3.93
3.91
3.92
3.92
3.92

K
3.86
3.85
3.81
3.75
3.72
3.77
3.82
3.81
3.82
3.84
3.79
3.79
f K
3.73
3.75
3.77
3.81
3.85
3.83
3.86
3.83
3.84

T
3.93
3.95
3.91
3.83
3.81
3.86
3.92
3.98
3.97
4.02
3.98
3.95
T
3.91
3.91
3.95
4.02
4.03
3.99
4.01
4.03
4.02

1-yr.

4.13
4.16
4.12
4.03
4.00
4.05
4.11
4.17
4.16
4.22
4.18
4.14
4.10
4.10
4.15
4.22
4.24
4.20
4.22
4.24
4.23

--------T r e a s u r y C o n s t a n t
2-yr.
3-yr.
5-yr.

C
4.77
4.80
4.76
4.67
4.66
4.77
4.85
4.93
5.00
5.07
5.07
5.02
C
4.97
4.95
5.02
5.13
5.15
5.10
5.15
5.17
5.11

L
5.13
5.19
5.14
5.06
5.05
5.13
5.22
5.34
5.44
5.48
5.51
5.46
L
5.36
5.40
5.51
5.62
5.66
5.58
5.67
5.71
5.65

0
5.98
6.05
6.02
5.94
5.96
6.02
6.10
6.21
6.34
6.37
6.41
6.36
0
6.27
6.28
6.32
6.40
6.41
6.32
6.42
6.48
6.44

M a t u r i t i e s ---------7-yr.
10-yr.
30-yr.

S
6.46
6.54
6.51
6.44
6.42
6.47
6.54
6.62
6.77
6.78
6.84
6.81
S
6.71
6.74
6.84
6.89
6.88
6.80
6.89
6.93
6.92

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

Note:

T h e d a i l y e f f e c t i v e f e d e r a l f u n d s r a t e is a w e i g h t e d a v e r a g e o f r a t e s o n t r a d e s t h r o u g h N . Y . b r o k e r s .
Weekly figures are averages of 7 calendar days e n ding on W e d n e s d a y of the current week;
m o n t h l y f i g u r e s i n c l u d e e a c h c a l e n d a r d a y in t he month.
A n n u a l i z e d u s i n g a 3 6 0 - d a y y e a r o r b a n k interest.
Q uoted o n a d iscount basis.
An average of offering rates on commercial paper placed by several leading dealers
f o r f i r m s w h o s e b o n d r a t i n g is A A o r t h e e q u i v a l e n t .
An average of offering rates on paper directly placed by finance companies.
R e presentative c l osing y ields for acceptances of the highest rated m o n e y center banks.
An ave r a g e of d ealer o f f ering rates o n nationally traded c e r t i ficates of deposit.
B i d r a t e s f o r E u r o d o l l a r d e p o s i t s a t 11 a.m. L o n d o n time.
O n e o f s e v e r a l b a s e r a t e s u s e d b y b a n k s to p r i c e s h o r t - t e r m b u s i n e s s loans.
R a t e f o r t h e F e d e r a l R e s e r v e B a n k o f N e w York.
Auction d a t e for dai l y data; w e e k l y a nd monthly averages c o m p u t e d o n a n issue-date basis.
Y i e l d s o n a c t i v e l y t r a d e d issues a d j u s t e d to c o n s t a n t m a t u r ities.
Source:
U.S. Trea s u r y .
U n w e i g h t e d a v e r a g e o f r a t e s o n a l l o u t s t a n d i n g b o n d s n e i t h e r d u e n o r c a l l a b l e in les s t h a n 10 y e a r s *
i n c l u d i n g o n e v e r y l ow y i e l d i n g "f l o w e r " bond.
E s t i m a t e o f t h e y i e l d o n a r e c e n t l y of f e r e d * A - r a t e d u t i l i t y b o n d w i t h a m a t u r i t y of 30 y e a r s
and call protection of 5 years; Friday quotations.
B o n d B u y e r I n d e x * g e n e r a l o b l i g a t i o n * 20 y e a r s t o m a t u r i t y * m i x e d q u a l i t y ; T h u r s d a y q u o t a t i o n s .
Contr a c t interest rates o n commitments for fixed-rate first mortgages.
Source:
FHLMC.

Weekly and

monthly

figures

are averages

DESCRIPTION OF THE

of business

TREASURY

days

unless

CONSTANT MATURITY

otherwise

noted.

SERIES

Y i e l d s o n T r e a s u r y s e c u r i t i e s a t 'constant maturity' a r e i n t e r p o l a t e d b y the U.S. T r e a s u r y f r o m the d a i l y
y i e l d c u r v e . T h i s curye, w h i c h r e l a t e s t h e y i e l d o n a s e c u r i t y t o i t s t i m e t o m a t u r i t y * i s b a s e d o n t h e
c l o s i n g m a r k e t b i d y i e l d s o n a c t i v e l y t r a d e d T r e a s u r y s e c u r i t i e s in t h e o v e r - t h e - c o x n t e r ma r k e t .
These market yields are calculated from composites of quotations reported b y five leading U S
Government

securities

dealers

to

the

Federal

Reserve Ban k of New York.

The

constant

maturity yield values

a r ! u T d f n ? !U t h S y -e J j ? Jrve
f l X e d m a t u r i t i e s » c u r r e n t l y 1, 2, 3 , 5 , 7, 1 0 , a n d 3 0 y e a r s .
This
m e t h o d p r o v i d e s a y i e l d f o r a 1 0 - y e a r m a t u r i t y , f o r e x a m p l e , e v e n if n o o u t s t a n d i n g s e c u r i t y h a s e x a c t l y
10 y e a r s r e m a i n i n g to m a t u r i t y .
^
y n a s exacxj.y




E
6.78
6.85
6.82
6.76
6.77
6.79
6.85
6.92
7.03
7.05
7.13
7.09
E
7.03
7.09
7.20
7.25
7.24
7.16
7.25
7.31
7.31

D
7.46
7.48
7.44
7.39
7.41
7.42
7.47
7.49
7.54
7.57
7.65
7.61
D
7.57
7.62
7.71
7.71
7.71
7.66
7.75
7.79
7.77