Full text of G.13 Selected Interest Rates : March 2, 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.

For immediate release
March 2, 1993

G .1 3 (415)

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

Federal funds (effective)1 2 3
Commercial pa pe r345
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 m arket)38
1-month
3-month
6-month
Eurodollar deposits (London) 39
1-month
3-month
6-month
Bank prime lo a n 2310
Discount window borrowing 211
U.S. government securities
Treasury bills
Auction average 3412
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



Jan

Feb

Feb

Feb

Feb

29

5

12

19

26

Jan

Feb

2.94

3.15

2.92

3.06

2.91

3.02

3.03

3.14
3.18
3.29

3.16
3.21
3.31

3.14
3.18
3.27

3.16
3.18
3.26

3.11
3.15
3.23

3.21
3.25
3.35

3.14
3.18
3.27

3.18
3.27
3.23

3.20
3.29
3.22

3.18
3.28
3.22

3.20
3.27
3.22

3.17
3.26
3.20

3.25
3.32
3.29

3.18
3.27
3.21

3.08
3.15

3.09
3.18

3.06
3.17

3.05
3.14

3.05
3.10

3.14
3.23

3.06
3.15

3.08
3.13
3.26

3.08
3.14
3.26

3.08
3.12
3.24

3.08
3.11
3.21

3.06
3.10
3.18

3.14
3.19
3.33

3.08
3.12
3.22

3.05
3.18
3.29
6.00
3.00

3.05
3.18
3.29
6.00
3.00

3.03
3.13
3.26
6.00
3.00

3.00
3.10
3.23
6.00
3.00

3.03
3.08
3.19
6.00
3.00

3.09
3.22
3.37
6.00
3.00

3.03
3.12
3.24
6.00
3.00

2.98
3.09

2.97
3.10

2.94
3.09
3.32

2.93
3.08

2.96
3.06

3.06
3.17
3.52

2.95
3.08
3.32

3.04
3.18

3.04
3.19

3.00
3.18

2.99
3.17

3.02
3.15

3.13
3.27

3.01
3.17

2.92
3.07
3.26

2.92
3.10
3.26

2.93
3.10
3.32

2.92
3.04
3.22

2.95
3.04
3.17

3.00
3.14
3.35

2.93
3.07
3.25

3.41
4.24
4.78
5.66
6.08
6.46
7.23

3.41
4.19
4.70
5.55
5.98
6.40
7.21

3.45
4.21
4.71
5.56
6.00
6.38
7.18

3.36
4.04
4.51
5.39
5.85
6.24
7.07

3.31
3.95
4.38
5.21
5.64
6.02
6.89

3.50
4.39
4.93
5.83
6.26
6.60
7.34

3.39
4.10
4.58
5.43
5.87
6.26
7.09

7.03

6.98

6.97

6.90

6.70

7.17

6.89

7.84
8.55
7.95
6.10
7.86

7.78
8.50
7.88
6.04
7.80

7.75
8.49
7.85
5.97
7.75

7.69
8.37
7.73
5.85
7.65

7.61
8.22
7.63
5.60
7.53

7.91
8.67
8.13
6.16
8.02

7.71
8.39
7.80
5.86
7.68

G.13 (415)
Selected Interest Rates
Yields in percent per annum
Fed
funds

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

3.25
3.18
3.56
3.08
2.87
2.94
2.90
2.88
2.97
2.95
2.95
3.59
3.09
2.98
2.86
2.96
2.91
2.91
3.03
3.18

Comm
CDs
paper secmkt

----- Treasury bills------

----------------- Treasury constant maturities

3-m o .

3-m o.

3-m o.

6-m o.

1-yr.

3.19
3.21
3.23
3.21
3.19
3.18
3.18
3.18
3.19
3.19

3.14
3.15
3.16
3.14
3.13
3.10
3.13
3.13
3.13
3.11

2.90
2.96
2.93
2.90
2.90
2.92
2.93
2.94
2.92
2.93

3.09
3.12
3.12
3.09
3.06
3.09
3.10
3.13
3.09
3.09

3.24
3.28
3.28
3.27
3.24
3.30
3.34
3.36
3.31
3.30

3.40
3.43
3.44
3.44
3.36
3.43
3.47
3.50
3.44
3.43

4.19
4.25
4.27
4.19
4.07
4.16
4.20
4.27
4.20
4.20

4.69
4.76
4.77
4.68
4.58
4.64
4.72
4.79
4.72
4.70

5.55
'5.63
5.62
5.53
5.42
5.49
5.55
5.63
5.58
5.57

3.20
3.20
3.16
3.15
3.16
3.15
3.14
3.14
3.16

3.12
3.12
3.10
3.10
3.10
3.08
3.08
3.10
3.12

2.93
2.91
2.89
2.93
2.95
2.94
2.96
2.95
2.95

3.09
3.05
3.00
3.02
3.04
3.02
3.05
3.04
3.05

3.30
3.25
3.17
3.17
3.18
3.14
3.18
3.19
3.18

3.44
3.39
3.30
3.30
3.32
3.27
3.32
3.33
3.32

4.14
4.06
3.95
3.99
3.99
3.90
3.97
3.95
3.92

4.64
4.54
4.43
4.44
4.44
4.33
4.40
4.36
4.37

5.52
5.43
5.29
5.30
5.28
5.12
5.20
5.23
5.21

1-yr.

2-yr.

3-yr.

5-yr.

7-yr.

10-yr.

30-yr.

5.97
6.04
6.04
5.98
5.88
5.93
5.98
6.06
6.02
6.00

6.38
6.46
6.45
6.39
6.32
6.37
6.41
6.40
6.37
6.35

7.21
7.25
7.23
7.19
7.17
7.18
7.20
7.26
7.15
7.13

5.98
5.90
5.75
5.76
5.70
5.53
5.64
5.68
5.67

6.34
6.28
6.17
6.15
6.09
5.92
6.01
6.03
6.03

7.14
7.11
7.02
7.01
6.95
6.83
6.88
6.89
6.90

* Market closed

FO O TN O TES
1.
2.
3.
4.
5.
6.
7.
8.
9.
10 .
11.
12 .
13 .
14 .
15 .
16 .
17 .

T h e daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are av e rag e s of 7 ca le n d ar d a y s ending on W ed n e sd a y of the current w eek; monthly figures include
each calen d ar d ay in the month.
A nnualized using a 3 6 0 -d a y ye a r 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 yield s for accep tan ces of the highest rated m oney center banks.
An average of d ea ler 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 b an ks to price short-term b u sin e ss loans.
Rate for the Fed e ral R eserve Bank of New York.
Auction date for daily data; w eekly and monthly averag 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 . T re asu ry.
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 y e a rs and call protection of 5 years;
Frid ay quotations.
Bond B u yer Index, general obligation, 20 ye ars to maturity, mixed quality; Thu rsd ay quotations.
Contract interest rates on com m itm ents for fixed-rate first m ortgages. So urce: F H L M C .

Note; W eekly and monthly figures are av erag e s of b u sin e ss d ays un less otherwise noted.

DESCRIPTION OF TH E TREASU RY CO N STA N T M ATURITY SERIES
Y ield s on T re asu 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 Treasury
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 Bank 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 -y e a r maturity,
for exam ple, even if no outstanding security has exactly 10 years rem aining to maturity.