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

(415)

For

SELECTED INTEREST RATES
Yields

in p e r c e n t

per

release
7, 1 9 9 2

annum
Meek

Instruments
FEDERAL FUNDS (EFFECTIVE) 1 2 3
COMMERCIAL PAPER 3 4 5
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 A C C E 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 1°
D I S C O U N T W I N D O W B O R R O W I N G 2 11
U.S. GOVERN 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
A U C T I O N A V E R A G E (I N V E S T M E N T ) 12
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 10 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
CONVENTIONAL MORTGAGES




immediate
July

17

Ending
JUN
19

JUN
26

JUL
3

MAY

JUN

3.73

3.72

3.87

3.82

3.76

3.91
3.93
4.01

3.89
3.91
3.97

3.89
3.89
3.95

3.80
3.80
3.87

3.87
3.88
3.97

3.91
3.92
3.99

3.84
3.86
3.85

3.82
3.83
3.81

3.80
3.80
3.80

3.79
3.79
3.76

3.68
3.67
3.64

3.76
3.77
3.77

3.81
3.82
3.80

3.84
3.93

3.81
3.89

3.79
3.87

3.79
3.85

3.66
3.72

3.76
3.85

3.80
3.88

3.88
3.91
4.04

3.83
3.86
3.97

3.81
3.83
3.94

3.81
3.84
3.92

3.74
3.75
3.90

3.79
3.82
3.96

3.83
3.86
3.97

3.88
3.94
4.08
6.50
3.50

3.81
3.86
4.01
6.50
3.50

3.78
3.84
3.96
6.50
3.50

3.79
3.85
3.98
6.50
3.50

3.73
3.74
3.86
6.50
3.50

3.77
3.84
3.99
6.50
3.50

3.81
3.87
4.00
6.50
3.50

3.75
3.90
4.07

3.71
3.83

3.66
3.75

3.67
3.77

3.59
3.66
3.93

3.66
3.78
4.20

3.70
3.81
4.07

3.84
4.03

3.80
3.96

3.74
3.88

3.76
3.90

3.67
3.78

3.75
3.91

3.79
3.94

3.71
3.86
4.08

3.67
3.80
3.99

3.63
3.73
3.93

3.64
3.74
3.94

3.48
3.57
3.79

3.63
3.75
3.99

3.66
3.77
3.98

4.27
5.21
5.77
6.61
7.01
7.35
7.87

4.18
5.10
5.67
6.56
6.98
7.32
7.87

4.12
5.00
5.55
6.44
6.87
7.24
7.83

4.14
4.96
5.49
6.40
6.82
7.20
7.82

3.96
4.76
5.33
6.22
6.69
7.07
7.74

4.19
5.23
5.81
6.69
7.06
7.39
7.89

4.17
5.05
5.60
6.48
6.90
7.26
7.84

7.78

7.77

7.70

7.68

7.58

7.80

7.72

8.24
9.09
8.65
6.57
8.59

8.24
9.08
8.65
6.52
8.54

8.22
9.02
8.61
6.46
8.48

8.20
9.02
8.56
6.42
8.43

8.16
8.98
8.44
6.38

8.28
9.13
8.70
6.57
8.67

8.22
9.05
8.62
6.49
8.51

JUN
5

JUN
12

3.85

3.69

3.94
3.97
4.05

SEE OVERLEAF FOR FOOTNOTES

8.29

July 7, 1992

FEDERAL RESERVE BOARD

For immediate release
G.13 (continued)
Daily interest rates
(Yie l d s in p e r c e n t p e r

annum)*
0
9
8
7
6
5
4
3
2
1

U.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
4
5
8
9
10
11
12
15
16
17
18
19
22
23
24
25
26
29
30

3.96
3.89
3.82
3.78
3.61
3.72
3.57
3.96
3.80
3.65
3.88
3.74
3.72
3.71
3.66
3.85
3.70
3.81
3.87
3.67
3.80
4.53

Comm
Paper
3-mo.

CDs
Sec Mkt
3-mo.

3.97
3.98
3.98
3.97
3.93
3.93
3.93
3.94
3.94
3.91
3.92
3.93
3.91
3.89
3.88
3.90
3.91
3.90
3.88
3.88
3.88
3.89

3.89
3.94
3.93
3.93
3.88
3.88
3.87
3.86
3.86
3.84
3.84
3.86
3.82
3.81
3.83
3.85
3.86
3.83
3.83
3.81
3.82
3.81

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

•

3.75
3.74
3.71
3.69
3.68
3.68
3.68
3.68
3.66
3.66
3.65
3.64
3.62
3.61
3.65
3.64
3.68
3.64
3.62
3.62
3.57
3.57

3.89
3.87
3.86
3.85
3.81
3.81
3.81
3.82
3.79
3.75
3.75
3.74
3.71
3.70
3.76
3.75
3.80
3.73
3.70
3.71
3.66
3.65

4.13
4.11
4.08
4.07
4.02
4.01
4.01
4.01
3.99
3.95
3.94
3.93
3.91
3.89
3.97
3.95
4.01
3.91
3.88
3.94
3.87
3.88

1-yr.

4.32
4.30
4.27
4.26
4.21
4.20
4.20
4.20
4.18
4.14
4.13
4.12
4.10
4.08
4.17
4.15
4.22
4.11
4.09
4.11
4.04
4.05

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

5.29
5.23
5.20
5.22
5.13
5.11
5.11
5.13
5.09
5.06
5.05
5.02
5.00
4.94
5.00
4.99
5.10
4.96
4.89
4.88
4.83
4.83

5.84
5.78
5.76
5.76
5.70
5.69
5.69
5.69
5.67
5.61
5.60
5.56
5.55
5.50
5.54
5.55
5.58
5.47
5.41
5.42
5.38
5.39

6.69
6.61
6.60
6.60
6.55
6.56
6.59
6.59
6.56
6.49
6.49
6.44
6.44
6.39
6.45
6.45
6.50
6.39
6.32
6.33
6.29
6.29

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

7.06
7.02
7.01
7.01
6.96
6.97
6.99
7.01
6.98
6.94
6.93
6.88
6.86
6.81
6.87
6.86
6.88
6.83
6.75
6.78
6.74
6.76

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 .
W e e k l y f i g u r e s a r e ave r a g e s of 7 c a l e n d a r days e n d i n g o n W e d n e s d a y o f the c urrent w eek}
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 360- d a y y e a r o r b a n k interest.
Q u o t e d on a dis c o u n t 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 a v e r a g e o f o ffering rates on paper directly placed by finance companies.
R e p r e s e n t a t i v e c l o s i n g y i e l d s for acce p t a n c e s of the h i ghest rated m o n e y ce n t e r banks.
A n a v e r a g e of dealer o f fering rates on nationally traded certificates 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 1 1 a.m. L o n d o n t i m e .
O n e o f s e v e r a l b a s e ra 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 for 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.
A u c t i o n d a t e for daily data} we e k l y and monthly averages computed o n an 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 is s u e s a d j u s t e d to c o n s t a n t matu r i t i e s .
Source:
U.S. T r e a 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 l e s s t h a n 1 0 y e a r s .
Estimate of the yield on a recently offered* A-rated utility bond w i t h a maturity of 30 years
and call pro t e c t i o n 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 to 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 .
C o n t r a c t i n t e r e s t rates o n c o m m i t m e n t s for f i x e d - r a t e first mortgages.
Source:
FHLMC.

Weekly

and

monthly

figures

are averages

DESCRIPTION OF THE

of business

TREASURY

days

unless

CONSTANT MATURITY

o t h e r w i s e 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 t h e d a i l y
y i e l d c u r v e . T h i s c u r v e , 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 to its t i m e to m a t u r i t y * is 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 u n t e r m a r k e t .
T h e s e m a r k e t y i e l d s a r e c a l c u l a t e d from c o m p o s i t e s of q u o t a t i o n s r e p o r t e d b y five l e a d i n g U.S,
G o v e r n m e n t s e c u r i t i e s deal e r s to the Federal R e serve B a n k of New York. T h e con s t a n t m a t u r i t y y i e l d va l u e s
a r e r e a d f r o m t h e y i e l d c u r v e a t f i 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 t o m a t u r i t y .




7.39
7.35
7.34
7.34
7.31
7.31
7.33
7.35
7.33
7.29
7.28
7.24
7.23
7.19
7.24
7.24
7.25
7.20
7.14
7.15
7.12
7.14

7.90
7.87
7.88
7.88
7.84
7.84
7.88
7.90
7.88
7.85
7.85
7.84
7.82
7.80
7.83
7.84
7.85
7.83
7.78
7.79
7.78
7.79