Full text of G.13 Selected Interest Rates : May 4, 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.

G .1 3 (415)

For immediate release

SELECTED INTEREST RATES

May4’1993

Yields in percent per annum
W e e k Ending
Instrum ents

Federal funds (effective)123
Commercial paper 345
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) 3 8
1-month
3-month
6-month
Eurodollar deposits (London)39
1-month
3-month
6-month
Bank prime loan 2 310
Discount window borrowing 211
U.S. government securities
Treasury bills
Auction average 34 12
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-utiiity 15
State & local bonds 16
Conventional mortgages 17

See overleaf for footnotes
r - revised




Apr
g

Apr

Apr

Apr

2

16

23

30

3.18

3.11

2.93

2.91

3.19
3.19
3.24

3.16
3.17
3.23

3.14
3.16
3.20

3.10
3.10
3.09

3.08
3.08
3.09

3.09
3.15

Apr

Mar

Apr

2.87

3.07

2.96

3.10
3.12
3.16

3.10
3.11
3.16

3.15
3.17
3.24

3.13
3.14
3.19

3.07
3.06
3.07

3.05
3.06
3.07

3.03
3.04
3.05

3.15
3.17
3.14

3.06
3.06
3.07

3.07
3.13

3.04
3.09

3.04
3.08

3.04
3.09

3.07
3.14

3.05
3.10

3.11
3.12
3.22

3.10
3.11
3.20

3.07
3.09
3.16

3.06
3.08
3.14

3.06
3.08
3.14

3.10
3.11
3.20

3.08
3.09
3.16

3.06
3.11
3.25
6.00
3.00

3.06
3.11
3.25
6.00
3.00

3.06
3.13
3.20
6.00
3.00

3.03
3.09
3.19
6.00
3.00

3.00
3.06
3.18
6.00
3.00

3.06
3.11
3.21
6.00
3.00

3.04
3.10
3.21
6.00
3.00

2.96
3.04

2.92
3.04
3.24

2.89
3.00

2.82
2.96

2.88
2.95

2.97
3.08
3.09

2.89
3.00
3.24

3.02
3.13

2.98
3.13

2.95
3.09

2.88
3.05

2.94
3.04

3.04
3.17

2.94
3.08

2.91
3.01
3.17

2.91
3.00
3.16

2.85
2.97
3.09

2.81
2.93
3.05

2.91
2.98
3.12

2.95
3.05
3.20

2:87
2.97
3.11

3.32
3.95
4.43
5.25
5.75
6.07
6.95

3.31
3.92
4.38
5.21
5.72
6.06
6.96

3.21
3.80
4.26
5.08
5.53
5.90
6.77

3.18
3.77
4.23
5.06
5.48
5.87
6.76

3.25
3.83
4.30
5.14
5.60
6.01
6.89

3.33
3.95
4.40
5.19
5.66
5.98
6.82

3.24
3.84
4.30
5.13
5.59
5.97
6.85

6.77

6.76

6.56

6.53

6.66

6.65

6.64

7.64
8.23
7.86
5.86
7.53

7.61
8.25
7.64
5.84
7.57

7.45
8.07
7.55
5.70
7.45

7.34
8.05
7.59
5.67
7.38

7.40
8.15
7.76
5.75
7.43

7.58
8.15
7.61
5.64 r
7.50

7.46
8.14
7.66
5.76
7.47

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

Fed
funds

Apr 1
Apr 2
Apr 5
Apr 6
Apr 7
Apr 8
Apr 9 *
Apr 12
Apr 13
Apr 14
Apr 15
Apr 16
Apr 19
Apr 20
Apr 21
Apr 22
Apr 23
Apr 26
Apr 27
Apr 28
Apr 29
Apr 30

3.31
3.13
3.15
2.97
2.93
2.94
2.82
3.11
2.98
3.03
3.15
2.84
2.94
2.84
2.95
2.97
2.85
2.99
2.72
2.88
2.94
3.01

paper

CDs
secm kt

3-m o.

3 -m o .

3-m o.

6-m o.

3.18
3.18
3.18
3.18
3.17
3.16

3.13
3.11
3.11
3.12
3.11
3.10

2.90
2.91
2.90
2.91
2.92
2.90

3.00
3.00
3.00
3.00
3.00
3.01

3.16
3.16
3.16
3.15
3.15
3.14
3.13
3.11
3.11
3.10
3.11
3.12
3.12
3.11
3.11

3.09
3.08
3.09
3.10
3.09
3.09
3.08
3.08
3.07
3.06
3.07
3.08
3.08
3.08
3.08

2.89
2.85
2.82
2.84
2.84
2.81
2.79
2.80
2.82
2.84
2.89
2.91
2.92
2.90
2.91

3.00
2.98
2.95
2.96
2.96
2.95
2.92
2.92
2.92
2.94
2.97
3.00
2.99
2.98
2.98

C om m

•

------- Treasury bills

1-yr.

2-yr.

3-yr.

5-yr.

7-yr.

10-yr.

30-yr.

3.17
3.17
3.15
3.17
3.20
3.13

3.32
3.32
3.30
3.35
3.33
3.25

3.94
3.99
3.96
3.93
3.93
3.85

4.41
4.48
4.45
4.39
4.39
4.30

5.24
5.31
5.27
5.22
5.23
5.13

5.74
5.83
5.79
5.73
5.72
5.62

6.06
6.16
6.13
6.08
6.07
5.97

6.97
7.06
7.04
6.97
6.96
6.85

3.11
3.10
3.07
3.09
3.08
3.08
3.06
3.04
3.04
3.05
3.09
3.13
3.13
3.10
3.14

3.23
3.22
3.19
3.22
3.21
3.21
3.19
3.17
3.17
3.18
3.23
3.27
3.27
3.24
3.26

3.82
3.82
3.78
3.79
3.80
3.78
3.78
3.77
3.75
3.75
3.79
3.88
3.86
3.79
3.83

4.27
4.27
4.24
4.24
4.26
4.25
4.24
4.23
4.21
4.21
4.25
4.33
4.35
4.28
4.30

5.09
5.10
5.07
5.06
5.08
5:07
5.07
5.05
5.04
5.06
5.09
5.19
5.18
5.10
5.14

5.57
5.55
5.51
5.49
5.51
5.49
5.49
5.48
5.46
5.49
5.53
5.62
5.64
5.58
5.63

5.92
5.93
5.90
5.88
5.89
5.87
5.87
5.86
5.85
5.89
5.94
6.02
6.03
5.99
6.05

6.79
6.80
6.76
6.73
6.76
6.73
6.76
6.75
6.75
6.79
6.83
6.90
6.91
6.88
6.95

1-yr. '

* Market closed

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

J h e daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are a v e ra g e s of 7 calen d ar d a y s ending on W e d n e sd a y of the current w eek; monthly figures include
each ca len d ar d ay in the month.
A nnualized using a 3 6 0 -d a y year or bank interest.
Quoted on a discount b a s is.
An average of offering rates on com m ercial p ap er placed by several leading d e a le rs for firms w hose bond rating is A A
or the equivalent.
An average of offering rates on paper directly placed by finance co m panies.
R epresentative closing yield s for accep tan ces of the highest rated m oney center b an k s.
An average of d ealer 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 ra l b ase rates used by b an ks to price short-term b u sin e ss lo ans.
Rate for the Fed e ral R e se rve Bank of New Y o rk.
Auction date for daily data; w eekly and monthly averages computed on an issu e -d a te b a sis.
Y ie ld s on actively traded is su e s adjusted to constant maturities. S o urce: U .S . T re a su ry .
Unweighted averag e 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 y e a rs;
Frid ay quotations.
Bond Buyer Index, general obligation, 20 ye a rs to maturity, mixed quality; T h u rsd a y quotations.
Contract interest rates on comm itm ents for fixed-rate first m ortgages. S o u rce : F H L M C .

Note: W eekly and monthly figures are averag e s of b u sin e ss d ays unless otherwise noted.

DESCRIPTION OF TH E TREASU RY C O N STA N T M ATURITY SERIES
*

Y ie ld s on T reasury securities at 'constant maturity' are interpolated by the U .S . T re a su ry from the d aily yield curve. T h is curve,
which relates the yield on a security to its time to maturity, is based on the closing m arket bid yield s on actively traded T re asu ry
securities in the over-the-counter market. T h e se m arket yields are calculated from co m po sites of quotations reported by five lead
ing U .S . Governm ent securities d ealers to the Fed eral Reserve Bank of New York. T h e co nstant maturity yield va lu e s a re read
from the yield curve at fixed m aturities, currently 1 , 2 , 3 , 5 , 7 , 1 0 , and 30 y e ars. T h is method pro vides a yield for a 1 0 -y e a r maturity,
for exam ple, even if no outstanding security h a s exactly 10 years rem aining to maturity.