Full text of G.13 Selected Interest Rates : July 6, 1988

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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. 13 ( 4 1 5 )

For immediate r e l e a s e
J u l y 6 , 1988

SELECTED INTEREST RATES
Yields

i n p e r c e n t p e r annum

Instruments
FEDERAL FUNDS (EFFECTIVE) 1
COMMERCIAL PAPER 2 3
1-MONTH
3-MONTH
6-MONTH
FINANCE PAPER PLACED DIRECTLY 2
1-MONTH
3-MONTH
6-MONTH
BANKERS ACCEPTANCES (TOP RATED) 2
3-MONTH
6-MONTH
CDS (SECONDARY MARKET )
1-MONTH
3-MONTH
6-MONTH
BANK PRIME LOAN 1 4
DISCOUNT WINDOW BORROWING 1 5
U . S . GOVERNMENT SECURITIES
TREASURY B I L L S
AUCTION AVERAGE2 6
3-MONTH
6-MONTH
I-YEAR
AUCTION AVERAGE(INVESTMENT)
3-MONTH
6-MONTH
SECONDARY MARKET 2
3-MONTH
6-MONTH
1-YEAR
TREASURY CONSTANT MATURITIES 7
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(LONG-TERM) 8
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITY 9
STATE & LOCAL BONDS 1 0
CONVENTIONAL MORTGAGES 1 1
1.

JUN
3

JUN
10

7.41

7.37

7.38
7.47
7.55

Week Endinc J
JUN
17

JUN
24

JUL
1

MAY

JUN

7.43

7.54

7.63

7.09

7.51

7.36
7.45
7.50

7.35
7.43
7.46

7.43
7.52
7.55

7.56
7.59
7.60

7.07
7.19
7.31

7.41
7.49
7.53

6.98
7.30
6.96

7.21
7.26
6.95

7.17
7.15
6.97

7.33
7.24
7.05

7.43
7.32
7.08

6.96
7.00
6.75

7.23
7.25
7.01

7.34
7.42

7.33
7.35

7.33
7.34

7.43
7.46

7.48
7.48

7.12
7.25

7.38
7.41

7.38
7.50
7.73
9.00
6.00

7.35
7.45
7.64
9.00
6.00

7.35
7.44
7.61
9.00
6.00

7.44
7.55
7.74
9.00
6.00

7.54
7.62
7.76
9.00
6.00

7.04
7.24
7.52
8.84
6.00

7.41
7.51
7.69
9.00
6.00

6.53
6.83

6.44
6.72
7.08

6.44
6.67

6.51
6.83

6.59
6.75

6.27
6.53
6.74

6.50
6.76
7.08

6.73
7.17

6.64
7.05

6.64
7.00

6.71
7.17

6.80
7.09

6.45
6.85

6.70
7.10

6.45
6.79
7.08

6.43
6.67
6.97

6.36
6.61
6.91

6.50
6.78
7.02

6.57
6.75
7.01

6.26
6.56
6.90

6.46
6.71
6.99

7.59
8.12
8.34
8.61
8.91
9.07
9.16

7.46
8.00
8.20
8.50
8.80
8.96
9.06

7.40
7.94
8.13
8.41
8.70
8.84
8.95

7.53
8.08
8.26
8.52
8.80
8.94
8.98

7.52
8.04
8.21
8.46
8.73
8.86
8.90

7.40
8.00
8.24
8.58
8.89
9.09
9.23

7.49
8.03
8.22
8.49
8.78
8.92
9.00

9.17

9.07

8.99

9.05

8.99

9.24

9.04

10.00
11.09
10.43
7.87
10.58

9.93
11.08
10.46
7.78
10.51

9.80
10.97
10.47
7.73
10.35

9.79
10.94
10.36
7.77
10.40

9.82
10.97
10.25
7.74
10.39

9.90
11.04
10.61
7.?1

9.86
11.00
10.41
7.78
10.46

6

10.46

W e e k l y f i g u r e s a r e a v e r a g e s o f 7 c a l e n d a r d a y s e n d i n g o n Wednesday o f t h e c u r r e n t w e e k ;
m o n t h l y f i g u r e s i n c l u d e each c a l e n d a r day i n t h e month.
2.
Quoted on b a n k - d i s c o u n t b a s i s .
3.
R a t e s o n c o m m e r c i a l p a p e r p l a c e d f o r f i r m s whose b o n d r a t i n g i s AA o r t h e e q u i v a l e n t .
4.
Rate c h a r g e d by banks on s h o r t - t e r m b u s i n e s s l o a n s .
5.
R a t e f o r t h e F e d e r a l R e s e r v e Bank o f New Y o r k .
6.
Rates on i s s u e - d a t e b a s i s .
7.
Y i e l d s on a c t i v e l y t r a d e d issues a d j u s t e d t o constant m a t u r i t i e s .
Source:
U.S. Treasury.
8.
U n w e i g h t e d a v e r a g e o f a l l i s s u e s o u t s t a n d i n g o f bonds n e i t h e r due n o r c a l l a b l e i n l e s 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 o w y i e l d i n g " f l o w e r " b o n d .
9.
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 o f 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 o f 30 y e a r s
and c a l l p r o t e c t i o n o f 5 years> F r i d a y q u o t a t i o n s .
10.
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 .
11.
C o n t r a c t i n t e r e s t r a t e s on commitments f o r f i x e d - r a t e f i r s t mortgages.
Source:
FHLMC.
Note:
Weekly and m o n t h l y f i g u r e s a r e averages o f d a i l y r a t e s , except f o r s t a t e & l o c a l b o n d s ,
w h i c h a r e based on Thursday f i g u r e s , and c o n v e n t i o n a l mortgages and A - u t i l i t y b o n d s , b o t h
o f w h i c h a r e based on F r i d a y f i g u r e s .




FEDERAL RESERVE BOARD

J u l y 6> 1988
For i m m e d i a t e r e l e a s e
G. 13 ( c o n t i n u e d )
Daily interest rates
( Y i e l d s i n p e r c e n t p e r annum)

U . S . Government S e c u r i t i e s
Fed
Funds

JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN
JUN

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

7 .24
7 .37
7 .34
7 .45
7 .38
7..37
7 32
7. 34
7. 52
7. 39
7. 75
7. 5 1
7. 54
7 .62
7. 5 7
7. 46
7. 55
7. 56
7. 6 1
7. 68
7. 87
8 . 27




Comm
Paper
3-mo.

7.47
7.45
7.46
7.45
7.45
7.46
7.44
7.43
7.46
7.41
7.40
7.43
7.47
7.52
7.54
7.52
7.50
7.51
7.55
7 60
7.61
7.61

CDs
Sec Mkt
3-mo.

Treasury B i l l s
3-mo.
6-mo.
1-yr.

6.47
7.51
7.47
6.44
6.46
7.48
6.46
7.44
6.43
7.44
6.39
7.47
6.44
7.44
6.45
7.47
7.45
6.44
6.35
7.41
6.34
7.40
7.43
6.29
6.37
7.50
6.37
7.57
7.60
6.56
6.52
7.54
7.53
6.52
753
* 6.51
7.57 ' 4 6.56
6.60
7.63
7.62
6.58
6.56
7.65

6.78
6.80
6.72
6.71
6.70
6.63
6.65
6.65
6.65
6.55
6.53
6.60
6.70
6.76
6.86
6.79
6.76
6.75
6.81
6.73
6.72
6.71

7.06
7.10
7.02
7.01
7.02
6.92
6.94
6.94
6.94
6.81
6.84
6.93
7.03
7.06
7.08
7.00
6.99
6.98
7.04
7.01
7.01
6.98

1-yr.

2-yr.

7.58
7.62
7.51
7.51
7.52
7.41
7.43
7.43
7.43
7.29
7.32
7.42
7.54
7.57
7.60
7.50
7.50
7.48
7.55
7.53
7.53
7.50

8.09
8.13
8.06
8.04
8.04
7.96
7.97
7.99
7.98
7.80
7.84
7.96
8.10
8.14
8.15
8.04
8.05
8.03
8.10
8.05
8.03
8.02

Treasury Constant M a t u r i t i e s 3-yr.
5-yr.
7-yr.
10-yr.

8.32
8.34
8.24
8.23
8.25
8.17
8.19
8.18
8.17
7.98
8.02
8.17
8.30
8.32
8.34
8.22
8.22
8.21
8.27
8.24
8.21
8.18

8.88
8.57
8.60
8.91
8.52
8.81
8.81
8.51
8.54
8.85
8.46
8.77
8.50
8.80
8.47
8.77
8.45
8.75
8.25
8.55
8.29
8.58
8.46
8.76
8.58
8.88
8.59
8.88
8.61
8.90
8.49
8.77
8.47
8.74
8 . 4 5 r £ 8.72
8 . 5 4 ^ * 8.81
8.48
8.75
8.47
8.75
8.41
8.70

9.03
9.07
8.97
8.97
9.02
8.92
8.96
8.92
8.91
8.69
8.71
8.89
9.02
9.02
9.03
8.90
8.88
8.85
8.94
8.87
8.88
8.82

30-yr.

9,.12
9 .16
9..07
9..06
9..12
9,.02
9..06
9,.04
9,.02
8. 8 1
8. 83
8. 98
9. 12
9..09
9,,10
8 . 94
8 . 90
8 . 87
8 . 96
8 . 89
8 . 92
8 . 87