Full text of G.13 Selected Interest Rates : May 3, 1994

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FEDERAL RESERVE statistical release
T h e se d a ta are re le a s e d th e firs t T u e s d a y o f e a c h m o n th . T h e a v a ila b ility of th e re le a s e is a n n o u n c e d on (2 0 2 ) ^ 5 2 - 3 2 0 6 .

fin?

G .13 (415)

SELECTED INTEREST RATES

--------------------------------------------- 7 * /

See overleaf for footnotes




'

J For immediate release
^
May 3, 1994

l.

.........

W eek Ending

Federal funds (effective)1 2 3
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) 38
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 3412
3-month
6-month
1-year
Auction average (investment)13
3-month
6-month
1-year
Secondary m arket3 4
3-month
6-month
1-year
Treasury constant maturities 14
1-year
2-year
3-year
5-year
7-year
10-year
20-year
30-year
Composite
Over 10 years (long-term)15
Corporate bonds
Moody’s seasoned
Aaa
Baa
A-utility 16
State & local bonds 17
Conventional mortgages 18

ll I jQ

hi­

Yields in percent per annum

Instruments

**f^AL RE

c

*J

M ar

Apr

3.59

3.34

3.56

3.88
4.11
4.49

3.89
4.15
4.56

3.63
3.85
4.08

3.81
4.05
4.40

3.60
3.84
3.96

3.78
4.01
4.09

3.81
4.07
4.15

3.53
3.71
3.70

3.71
3.94
4.03

3.88
4.18

3.84
4.17

4.04
4.37

4.06
4.39

3.73
3.96

3.96
4.27

3.64
3.84
4.15

3.71
3.93
4.29

3.66
3.90
4.29

3.79
4.08
4.46

3.84
4.12
4.50

3.56
3.77
4.03

3.75
4.01
4.38

3.58
3.80
4.11
6.25
3.00

3.66
3.90
4.28
6.25
3.00

3.63
3.89
4.28
6.25
3.00

3.78
4.09
4.46
6.39
3.00

3.81
4.14
4.51
6.75
3.00

3.50
3.75
4.02
6.06
3.00

3.71
4.00
4.37
6.45
3.00

3.50
3.85

3.71
4.02
4.30

3.63
4.03

3.76
4.21

3.85
4.25

3.52
3.79
4.03

3.74
4.13
4.30

3.58
3.98
4.51

3.80
4.16

3.72
4.17

3.85
4.36

3.94
4.40
5.02

3.60
3.92
4.37

3.83
4.27
5.02

3.50
3.81
4.21

3.60
3.97
4.49

3.57
3.98
4.46

3.73
4.18
4.64

3.85
4.26
4.72

3.50
3.78
4.11

3.68
4.09
4.57

4.46
5.18
5.62
6.19
6.53
6.72
7.18
7.06

4.71
5.44
5.92
6.47
6.81
6.97
7.41
7.29

4.70
5.45
5.91
6.47
6.78
6.93
7.39
7.26

4.90
5.66
6.09
6.60
6.85
7.03
7.44
7.31

4.99
5.67
6.08
6.56
6.77
6.95
7.34
7.22

4.32
5.00
5.40
5.94
6.28
6.48
7.00
6.91

4.82
5.55
5.99
6.52
6.80
6.97
7.40
7.27

7.10

7.34

7.31

7.36

7.27

6.90

7.32

7.65
8.30
8.04
6.07
8.04

7.90
8.56
8.22
6.34
8.47

7.87
8.51
8.25
6.22
8.26

7.93
8.55
8.18
6.19
8.49

7.81
8.46
8.27
6.16
8.32

7.48
8.13
7.82
5.91
7.68

7.88
8.52
8.20
6.23
8.32

Apr

Apr

Apr

Apr

Apr

1

8

15

22

29

3.49

3.69

3.37

3.59

3.68
3.88
4.13

3.77
3.99
4.28

3.71
3.96
4.27

3.60
3.75
3.77

3.67
3.87
3.94

3.75
4.02

Federal Reserve Board
May 3, 1994

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

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

3.64
3.62
3.60
3.48
3.46
3.36
3.41
3.24
3.43
3.49
3.51
3.70
3.71
3.71
3.70
3.70
3.78
3.42
3.15
3.66
3.73

Comm
paper
3 -mo.

4.02
4.02
3.99
3.97
3.95
3.95
3.95
3.95
3.96
3.99
4.07
4.12
4.12
4.13
4.13
4.14
4.14
4.14
4.14
4.19

CDs
sec mkt
3 -mo.
4.00
4.04
3.98
3.90
3.87
3.87
3.89
3.89
3.89
3.89
3.93
3.93
4.15
4.12
4.11
4.10
4.10
4.10
4.09
4.12
4.20

— Treasury b ills —
3-mo. 6-mo. 1 -yr.

1-yr.

2-yr.

Treasury constant maturities
3-yr.
5-yr.
7-yr.
10-yr.

20-yr.

30-yr.

3.65
3.66
3.59
3.53
3.56
3.54
3.56
3.56
3.58
3.59
3.70
3.74
3.74
3.74
3.75
3.76
3.88

4.00
4.00
3.95
3.93
3.96
3.95
3.98
3.99
4.00
4.00
4.14
4.21
4.19
4.18
4.20
4.21
4.26

4.60
4.50
4.45
4.42
4.46
4.46
4.43
4.46
4.48
4.49
4.65
4.66
4.65
4.61
4.64
4.64
4.66

4.83
4.72
4.67
4.64
4.68
4.69
4.66
4.69
4.72
4.73
4.91
4.92
4.91
4.87
4.90
4.91
4.93

5.57
5.45
5.40
5.37
5.43
5.43
5.40
5.43
5.49
5.51
5.70
5.70
5.67
5.59
5.62
5.61
5.59

6.06
5.93
5.88
5.84
5.91
5.90
5.84
5.91
5.94
5.95
6.15
6.14
6.10
6.00
6.04
6.01
5.99

6.64
6.47
6.42
6.38
6.46
6.46
6.40
6.47
6.51
6.50
6.70
6.68
6.62
6.49
6.53
6.48
6.46

7.01
6.79
6.76
6.72
6.79
6.78
6.72
6.79
6.82
6.79
6.99
6.92
6.88
6.71
6.73
6.68
6.66

7.16
6.97
6.93
6.86
6.94
6.92
6.87
6.93
6.97
6.97
7.14
7.10
7.05
6.91
6.93
6.86
6.86

7.55
7.41
7.38
7.33
7.40
7.37
7.32
7.39
7.43
7.42
7.55
7.50
7.46
7.33
7.34
7.26
7.24

7.43
7.28
7.25
7.21
7.26
7.24
7.20
7.26
7.29
7.29
7.41
7.37
7.33
7.22
7.21
7.14
7.12

3.89
3.87

4.29
4.29

4.74
4.83

5.05
5.07

5.75
5.73

6.14
6.16

6.65
6.64

6.86
6.88

7.04
7.05

7.41
7.44

7.29
7.31

* Market closed

FOOTNOTES
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12 .
13.
14.
15 .
16.
17 .
18.

The daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are averag e s of 7 calendar d ay s ending on W ed n e sd a y of the current week; monthly figures include
each calendar day in the month.
Annualized using a 3 6 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 dealers 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.
Representative closing yields for accep tan ces of the highest rated money center banks.
An average of dealer offering rates on nationally traded certificates of deposit.
Bid rates for Eurodollar deposits at 1 1 a.m . London time.
O ne of several 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; weekly and monthly averages computed on an issue -d ate b asis.
Auction dates for daily, weekly and monthly averages.
Y ield 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 y e a rs and call protection of 5 years;
Friday quotations.
Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thu 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 es of b u sin ess d ays unless otherwise noted.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Y ie ld s on T reasury securities at ’constant maturity’ are interpolated by the U .S . T reasury 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 yields are calculated from com posites of quotations reported by five lead­
ing U .S. Governm ent securities dealers to the Federal R eserve Bank of New York. The constant maturity yield values are read
from the yield curve at fixed maturities, currently 1 , 2 , 3, 5, 7, 10, 20, and 30 years. T h is method provides a yield for a 10 -y e a r
maturity, for exam ple, even if no outstanding security has exactly 10 years rem aining to maturity. In estimating the 20 -y e a r con­
stant maturity, the Tre asury incorporates the prevailing market yield on an outstanding T reasury bond with approxim ately 20 years
rem aining to maturity.