Full text of G.13 Selected Interest Rates : May 3, 1988

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. *. ^ q t c o v

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.

6.13 (4151

For immediate r e l e a s e
May 3 , 1988

SELECTED INTEREST RATES
Y i e l d s 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 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-TERM) 8
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITY 9
STATE * LOCAL BONDS 1 0
CONVENTIONAL MORTGAGES 1 1

APR
1

APR
8

6.62

6.82

6.63
6.68
6.70

Week E n d i n 9
APR
15

APR
22

APR
29

MAR

APR

6.81

6.93

6.85

6.58

6.87

6.73
6.78
6.83

6.76
6.81
6.86

6.85
6.92
6.99

6.85
6.93
7.01

6.57
6.62
6.64

6.80
6.86
6.92

6.52
6.45
6.29

6.64
6.58
6.47

6.68
6.63
6.48

6.78
6.73
6.54

6.76
6.75
6.57

6.44
6.38
6.23

6.71
6.67
6.51

6.55
6.63

6.70
6.78

6.74
6.78

6.85
6.93

6.85
6.95

6.51
6.55

6.79
6.86

6.60
6.67
6.86
8.50
6.00

6.72
6.82
7.04
8.50
6.00

6.77
6.87
7.06
8.50
6.00

6.87
7.01
7.24
8.50
6.00

6.84
6.99
7.23
8.50
6.00

6.56
6.63
6.78
8.50
6.00

6.80
6.92
7.14
8.50
6.00

5.69
6.00

5.98
6.21

5.98
6.19
6.57

5.78
6.14

5.92
6.28

5.69
5.91
6.30

5.92
6.21
6.57

5.85
6.27

6*16
6.50

6.16
6.48

5.95
6.42

6.09
6.58

5.86
6.17

6.09
6.49

5.74
6.04
6.36

5.99
6.20
6.55

5.89
6.14
6.49

5.83
6.22
6.58

5.91
6.28
6.60

5.70
5.91
6.28

5.91
6.21
6.56

6.78
7.42
7.66
8.03
8.40
8.57
8.82

7.01
7.55
7.78
8.13
8.47
8.62
8.84

6.92
7.52
7.75
8.12
8.44
8.63
8.85

7.03
7.62
7.88
8.25
8.59
8.81
9.05

7.07
7.67
7.92
8.27
8.60
8.82
9.07

6.71
7.27
7.50
7.83
8.19
8.37
8.63

7.01
7.59
7.83
8.19
8.52
8.72
8.95

8.80

8.80

8.82

9.01

9.02

8.61

8.91

9.53
10.73
10.09
7.90
10.05

9.61
10.83
10.02
7.80
10.19

9.61
10.86
10.26
7.81
10.19

9.73
10.98
10.37
7.87
10.30

9.73
10.92
10.46
7.77
10.28

9.39
10.57
9.91
7.74
9.93

9.67
10.90
10.23
7.81
10.20

6

1.

Meekly 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 days e n d i n g on 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.
Rates on 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 bond 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 o n s h o r t - t e r m b u s i n e s s l o a n s .
5.
Rate f o r t h e F e d e r a l Reserve 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 i s s u e s a d j u s t e d t o c o n s t a n t m a t u r i t i e s .
Source:
U.S. Treasurv.
8.
Unweighted 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 one v e r y low y i e l d i n g " f l o w e r " bond.
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 bond 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 y e a r s \ F r i d a y p o t a t i o n s .
10.
Bond Buyer 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 c p j 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 o n commitments f o r f i x e d - r a t e f i r s t m o r t g a g e s .
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 , e x c e p t 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 T h u r s d a y 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 o n F r i d a y f i g u r e s .

* The 1987 a u c t i o n a v e r a g e investment y i e l d s f o r 3 - a%id 6-month Treasury b i l l s
r e v i s e d to 6 . 0 0 and 6 . 3 5 p e r c e n t , r e s p e c t i v e l y .

have been


May 3 , 1988

FEDERAL RESERVE BOARD

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

APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR
APR

1
4
5
6
7
8
11
12
13
14
15
18
19
20
21
22
25
26
27
28
29

6.70
6.71
6.83
7.30
6.93
6.84
6.83
6.75
6.67
6.74
6.87
6.84
6.85
7.49
6.95
6.81
6.90
6.81
6.83
7.10
6.98

Comm
Paper
3-mo.

CDs
Sec Mkt
3-mo.
M

6.72
6.74
6.80
6.81
6.81
6.81
6.81
6.80
6.81
6.84
6.91
6.91
6.93
6.93
6.93
6.93
6.91
6.91
6.94
6.98




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

R
A
K
6 .78
5.85
6 .80
6.00
- 6 .84
6.05
6 .84
6.05
6 .86
6.02
6 .83
6.04
6 .85
5.93
6,.85
5.86
6..90
5.74
6..93
5.88
6,,99
5.85
7. 01
5.81
5.84
7. 04
7. 0 1
5.83
7. 00
5.83
6 . 97
5.85
6 . 99
5.90
6 . 97
5.87
6 . 97
5.96
7. 05
5.98

E
6 .22
6 .21
6 .18
6 .19
6 .18
6 .22
. 6 .13
6 .06
6,.06
6..22
6..19
6..20
6. 25
6. 23
6 . 23
6 . 24
6 . 26
6 . 23
6 . 32
6 . 36

T
6.54
6.57
6.57
6.57
6.52
6.53
6.46
6.41
6.46
6.59
6.60
6.58
6.59
6.57
6.57
6.58
6.56
6.57
6.64
6.67

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

1-yr.

2-yr.

C
7.00
7.04
7.04
7.04
6.95
6.96
6.89
6.83
6.89
7.03
7.05
7.03
7.04
7.02
7.02
7.04
7.02
7.03
7.10
7.14

0
S
L
7.58
7.81
7.60
7.84
7.57
7.79
7.54
7.77
7.47
7.69
7.50
7.73
7.49
7.71
7.45
7.67
7.56
7.79
7.60
7.85
7.60
7.88
7.57
7.87
7.65
7.90
7.64
7.90
7.64
7.87
7.64
7.87
7.64
7.87
7.63
7.89
7.69
7.97
7.73
7.98

E
D
8.19
8.18
8.13
8.12
8.05
8.10
8.09
8.05
8.15
8.20
8.25
8.24
8.27
8.26
8.23
8.23
8.24
8.25
8.32
8.33

8.53
8.52
8.47
8.46
8.37
8.44
8.40
8.36
8.48
8.53
8.60
8.59
8.61
8.58
8.56
8.55
8.57
8.57
8.64
8.65

8.68
8.67
8.61
8.60
8.52
8.59
8.57
8.56
8.67
8.74
8.81
8.81
8.83
8.82
8.78
8.78
8,80
8.80
8.86
8.87

30-yr.

8 .92
8 .90
8 .83
8 .82
8 .74
8 .82
8 .79
8 .77
8.,91
8.,97
9. 03
9. 06
9. 06
9. 06
9 . 03
9. 03
9. 04
9. 05
9. 11
9. 11