Full text of G.13 Selected Interest Rates : July 6, 1993

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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)

For immediate release
July 6, 1993

SELECTED INTEREST RATES
Yields in percent per annum
W eek Ending
Instruments

Federal funds (effective)1 23
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 market) 3 8
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 (investm ent)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




Jun
4

Jun

Jun

Jun

Jul

11

18

25

2

3.09

2.96

3.01

3.00

3.18
3.23
3.34

3.20
3.28
3.41

3.18
3.24
3.34

3.07
3.15
3.15

3.15
3.19
3.17

3.16
3.28

May

Jun

3.13

3.00

3.04

3.20
3.26
3.39

3.20
3.25
3.38

3.11
3.14
3.20

3.19
3.25
3.38

3.12
3.14
3.15

3.14
3.15
3.15

3.13
3.15
3.18

3.05
3.07
3.07

3.12
3.16
3.16

3.21
3.33

3.13
3.25

3.16
3.28

3.13
3.25

3.06
3.13

3.16
3.28

3.11
3.21
3.35

3.16
3.25
3.42

3.10
3.17
3.30

3.13
3.21
3.35

3.12
3.18
3.34

3.07
3.10
3.20

3.13
3.21
3.36

3.11
3.21
3.34
6.00
3.00

3.13
3.25
3.43
6.00
3.00

3.06
3.19
3.34
6.00
3.00

3.09
3.21
3.36
6.00
3.00

3.06
3.19
3.38
6.00
3.00

3.02
3.12
3.22
6.00
3.00

3.09
3.21
3.37
6.00
3.00

3.08
3.22
3.40

3.14
3.30

3.07
3.19

3.10
3.19

3.05
3.14
3.40

2.96
3.07
3.13

3.10
3.23
3.40

3.15
3.32

3.21
3.40

3.14
3.29

3.17
3.29

3.12
3.23

3.02
3.16

3.17
3.33

3.06
3.21
3.44

3.10
3.26
3.46

3.05
3.16
3.33

3.09
3.19
3.37

3.01
3.11
3.29

2.96
3.07
3.23

3.07
3.20
3.39

3.58
4.20
4.58
5.29
5.70
6.07
6.88

3.61
4.27
4.65
5.32
5.70
6.06
6.87

3.49
4.11
4.50
5.19
5.59
5.96
6.82

3.53
4.15
4.50
5.18
5.56
5.89
6.76

3.42
4.01
4.37
5.04
5.45
6.68

3.36
3.98
4.40
5.20
5.66
6.04
6.92

3.54
4.16
4.53
5.22
5.61
5.96
6.81

6.65

6.63

6.55

6.48

6.38

6.68

6.55

7.39
8.16
7.69
5.67
7.47

7.38
8.13
7.59
5.68
7.48

7.32
8.06
7.58
5.61
7.38

7.29
8.01
7.48
5.57
7.34

7.24
7.96
7.46
5.55
7.23

7.43

8.21
7.75
5.73
7.47

7,33
8.0 7

5.79

7.59
5.63

7.42

G.13 (415)
Selected Interest Rates
Yields in percent per annum
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
4
7
8
9
10
11
14
15
16
17
18
21
22
23
24
25
28
29
30

3.33
3.12
3.03
2.98
3.14
2.72
2.92
3.01
2.93
3.06
3.14
3.04
3.02
2.91
3.03
2.98
3.24
3.02
2.96
3.08
3.00
3.92

Comm
paper
3-mo.
3.23
3.22
3.22
3.26
3.28
3.28
3.29
3.30
3.27
3.26
3.24
3.23
3.22
3.23
3.24
3.24
3.27
3.27
3.26
3.26
3.26
3.27

CDs
sec mkt
3-mo.
3.22
3.17
3.19
3.24
3.26
3.26
3.26
3.26
3.23
3.18
3.16
3.17
3.17
3.19
3.19
3.19
3.23
3.21
3.22
3.20
3.20
3.19

------- Treasury b ills--------- '
6-mo.
3-mo.
1-yr.
3.04
3.07
3.03
3.11
3.10
3.13
3.11
3.11
3.05
3.05
3.05
3.04
3.03
3.06
3.06
3.09
3.12
3.10
3.08
3.07
3.03
3.03

3.19
3.20
3.17
3.29
3.28
3.30
3.27
3.26
3.18
3.18
3.16
3.15
3.14
3.18
3.17
3.17
3.22
3.20
3.18
3.16
3.12
3.13

3.41
3.42
3.39
3.52
3.50
3.51
3.47
3.47
3.36
3.35
3.33
3.32
3.31
3.36
3.36
3.35
3.40
3.38
3.37
3.34
3.32
3.32

-------------------------Treasury constant maturities
5-yr.
1-yr.
2-yr.
3-yr.
7-yr.
3.55
3.56
3.53
3.67
3.65
3.66
3.62
3.62
3.51
3.50
3.48
3.47
3.46
3.52
3.52
3.51
3.56
3.54
3.50
3.47
3.45
3.45

4.16
4.18
4.14
4.31
4.30
4.33
4.29
4.29
4.15
4.13
4.11
4.09
4.08
4.16
4.16
4.15
4.20
4.15
4.10
4.06
4.03
4.03

4.54
4.57
4.52
4.67
4.66
4.70
4.67
4.67
4.53
4.52
4.49
4.47
4.47
4.53
4.51
4.51
4.54
4.49
4.45
4.41
4.37
4.39

5.28
5.27
5.23
5.36
5.34
5.35
5.33
5.34
5.22
5.20
5.19
5.18
5.17
5.23
5.20
5.21
5.20
5.16
5.13
5.08
5.05
5.05

5.71
5.69
5.64
5.75
5.73
5.74
5.72
5.72
5.61
5.60
5.59
5.59
5.57
5.62
5.57
5.58
5.59
5.55
5.51
5.47
5.45
5.46

10-yr.

30-yr.

6.07
6.06
6.02
6.11
6.08
6.09
6.07
6.07
5.97
5.97
5.96
5.96
5.93
5.97
5.92
5.91
5.91
5.88
5.84
5.80
5.79
5.80

6.88
6.88
6.86
6.91
6.88
6.91
6.87
6.88
6.80
6.81
6.83
6.82
6.81
6.82
6.78
6.78
6.77
6.74
6.71
6.67
6.67
6.68

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

T he daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are averages of 7 calendar d ays ending on W ed n e sd a y of the current week; monthly figures include
each ca len d ar d ay 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 w hose bond rating is A A
or the equivalent.
An average of offering rates on paper directly placed by finance com panies.
R epresentative 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.
Bid rates for Eurodollar deposits at 1 1 a.m. London time.
O ne of se ve ral 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; w eekly and monthly av erag e s computed on an issu e -d a te 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 years and call protection of 5 years;
Friday quotations.
Bond B u yer Index, general obligation, 20 years to maturity, mixed quality; T h u rsd ay quotations.
Contract interest rates on commitments for fixed-rate first m ortgages. So urce: F H L M C .

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

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Y ield s on T re a su ry securities at ’constant maturity’ are interpolated by the U .S. T re asu ry 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 Tre asury
securities in the over-the-counter market. T h e se market yield s 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. T h e constant maturity yield va lu e s 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 -yea r maturity,
for exam ple, even if no outstanding security has exactly 10 y e a rs rem aining to maturity.