Full text of G.13 Selected Interest Rates : March 1, 1988

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FEDERAL RESERVE statistfclfefete]
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 1988

MAR

G.13 (415)

SELECTED INTEREST RATES

Yields in percent per

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 BILLS
AUCTION AVERAGE2 6
3-MONTH
6-MONTH
1-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-TtH*; 8
CORPORATE BONDS
MOODY'S SEASONED
AAA*
BAA
A-UTILITY 9
STATE & LOCAL BONDS 10
CONVENTIONAL MORTGAGES 1 1

For immediate release

F E D E R A L RESERVE B A N K
O F PHILADELPHIA

March 1, 1988

JAN
29

FEB
5

Week Ending1
FEB
12

FEB
19

FEB
26

JAN

FEB

6.66

6.77

6.38

6.65

6.64

6.83

6.58

6.66
6.75
6.78

6.59
6.62
6.61

6.47
6.49
6.49

6.61
6.63
6.64

6.53
6.58
6.60

6.76
6.87
6.92

6.55
6.58
6.58

6.54
6.51
6.41

6.51
6.45
6.33

6.36
6.31
6.22

6.50
6.43
6.29

6.43
6.38
6.24

6.65
6.62
6.53

6.45
6.39
6.27

6.61
6.63

6.50
6.50

6.43
6.42

6.55
6.56

6.50
6.50

6.77
6.83

6.49
6.49

6.66
6.77
6.90
8.75
6.00

6.59
6.63
6.70
8.68
6.00

6.49
6.54
6.59
8.50
6.00

6.57
6.64
6.77
8.50
6.00

6.55
6.61
6.73
8.50
6.00

6.78
6.92
7.10
8.75
6.00

6.55
6.60
6.69
8.51
6.00

5.85
6.19

5.74
6.11

5.63
5.85

5.73
6.03
6.18

5.64
5.83

5.90
6.31
6.67

5.69
5.96
6.18

6.04
6*50

5.92
6.41

5.81
6.13

5.91
6.32

5.82
6.11

6.08
6.63

5.86
6.24

5.74
6.11
6.33

5.67
6.05
6.22

5.65
5.91
6.16

5.72
5.99
6.27

5.63
5.81
6 20

5.81
6.25
6.52

5.66
5.93
6.21

6.77
7.39
7.63
7.91
8.19
8.39
8.56

6.65
7.20
7.42
7.73
8.02
8.20
8.39

6.59
7.14
7.34
7.67
7.99
8.18
8.41

6.70
7.24
7.42
7.79
8.10
8.29
8.52

6 63
7.17
7.35
7.70
8.00
8.20
8.43

6.99
7.63
7.87
8.18
8.48
8.67
8.83

6.64
7.18
7.38
7.71
8.02
8.21
8.43

8 55

e.ss

8.38

6.50

8.41

8.82

S.41

9.64
10.85
9.76
7.51
10.16

9.46
10.71
9 63
7.49
9.94

9.42
10.62
9.81
7.40
9.84

9.41
10.60
9.82
7.55
9.92

9.33
10.56
9.75
7.52
9.87

9.88
11.07
10.05
7.69
10.43

9.40
10.62
9.75
7.49
9.89

1. Weekly figures are averages of 7 calendar days ending on Wednesday of the current weeks
monthly figures include each calendar day in the month.
2. Quoted on bank-discount basis.
3. Rates on commercial paper placed for firms whose bond rating is AA or the equivalent.
4. Rate charged by banks on short-term business loans.
5. Rate for the Federal Reserve Bank of New York.
6. Rates on issue-date basis.
7. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury.
8. Unweighted average of all issues outstanding of bonds neither due nor callable in less than
10 years, including one very low yielding "flower" bond.
9. Estimate of the yield on a recently offered, A - r a t e d utility bond with a maturity of 30 years
and call protection of 5 years; Friday quotations.
10. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality* Thursday quotations.
11. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC.
Note: Weekly a.id monthly figures are averages of daily rates, except for state & local bonds,
which are based on Thursday figures, and conventional mortgages and A-utility bonds, both

of which are based on Friday

was revised to 9.38.


figures. *1987 annual average for corporate bonds AAA

FEDERAL RESERVE BOARD

March 1, 1988
For immediate release
6.13 (continued)
Daily interest rates
(Yields in percent per annum)

FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB
FEB

1
2
3
4
5
8
9
10
11
12
15
16
17
18
19
22
23
24
25
26
29

rtrw

U.S. Government Securiti

Fed
Funds

Comm
Paper
3-mo.

CDs
Sec Mkt
3-mo.

6.96
6.78
6.55
6.57
6.58
6.58
6.04
5.72
6.50
6.59

6.68
6.69
6.60
6.59
6.53
6.54
6.50
6.45
6.47
6.50

6.63
6.70
6.62
6.63
6.57
6.60
6.58
6.51
6.49
6.51

5.66
5.71
5.71
5.65
5.64
5.64
5.60
5.61
5.63
5.75

6.90
6.79
6.65
6.66
6.77
6.63
6.43
6.60
6.56
6.67

6.64
6.65
6.61
6.60
6.60
6.59
6.56
6.57
6.58
6.57

6.64
6.66
6.65
6.62
6.63
6.64
6.58
6.61
6.60
6.57

5.75
5.74
5.69
5.68
5.66
5.63
5.62
5.63
5.59
5.62




Treasury Bills
3-mo. 6-mo. 1-yr.

1-yr.

Treasury Constant Maturities2-yr. 3-yr. 5-yr. 7-yr. 10-yr.

6.07
6.09
6.10
6.05
5.96
5.94
5.85
5.83
5.89
6.02

6.25
6.24
6.26
6.23
6.13
6.16
6.12
6.10
6.17
6.26

6.68
6.67
6.69
6.67
6.55
6.59
6.55
6.53
6.61
6.68

7.50
7.22
7.38
7.21
7.24 : 7.44
7.44
7.24
7.32
7.10
7.37
7.16
7.34
7.12
7.28
7.07
7.31
7.12
7.42
7 22

7.78
7.70
7.76
7.76
7.64
7.70
7.65
7.59
7.64
7.77

8.07
7.98
8.05
8.07
7.95
8.01
7.98
7.92
7.97
8.09

8.26
8.18
8.21
8.24
8.12
8.19
8.16
8 11
8 .16
8 .28

8.42
8.32
8.39
8.46
8.36
8.41
8.40
8.35
8.40
8.50

6.04
5.99
5.98
5.95
5.92
5.79
5.77
5.79
5.77
5.78

6.30
6.29
6.25
6.25
6.22
6.17
6.18
6.22
6.20
6.19

6.73
6.72
6.67
6.67
6.65
6.60
6.61
6.66
6.64
6.63

7.45
7.26
7.42
7.24
7.41
7.23
7.39
7.21
7.38
7.20
7.33
7.16
7.15 ; 7.34
7.37
7.17
7.35
7.16
7.33
7.13

7.79
7.80
7.78
7.77
7.75
7.69
7,69
7.68
7.67
7.64

8.12
8.12
8.09
8.08
8.05
7.97
7.98
8.01
7.97
7.95

8 .31
8 .32
8 .28
8 .26
8 .24
8 ,17
8 .18
8 .23
8 .18
8 .16

8.53
8.54
8.51
8.50
8.48
8.40
8.41
8.45
8.42
8.39

30-yr.