Full text of G.13 Selected Interest Rates : November 5, 1996

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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 . 13 (415)

SELECTED INTEREST RATES

For immediate release
November 5 ,19 9 6

Yields in percent per annum
W eek Ending
Instruments

Oct
4

Oct
11

Oct
18

Oct
25

Nov
1

Sep

Oct

Federal funds (effective)12 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) 3 8
1 -month
3-month
6 -month
Eurodollar deposits (London) 3 9
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
Secondary m arket3 4
3-month
6 -month
1-year
Treasury constant maturities 13
3-month
6 -month
1 -year
2 -year
3-year
5 -year
7-year
10 -year
2 0 -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

5.40

5.14

5.22

5.22

5.27

5.30

5.24

5.41
5.48
5.53

5.36
5.43
5.45

5.35
5.42
5.45

5.36
5.42
5.44

5.37
5.42
5.42

5.45
5.52
5.66

5.37
5.43
5.45

5.28
5.31
5.32

5.25
5.29
5.27

5.24
5.32
5.27

5.25
5.31
5.27

5.25
5.31
5.26

5.33
5.38
5.40

5.25
5.31
5.28

5.34
5.42

5.35
5.38

5.32
5.34

5.31
5.33

5.30
5.32

5.39
5.51

5.32
5.36

5.32
5.48
5.59

5.28
5.40
5.50

5.27
5.40
5.50

5.27
5.40
5.50

5.28
5.39
5.47

5.38
5.51
5.71

5.28
5.41
5.51

5.30
5.49
5.60
8.25
5.00

5.25
5.41
5.51
8.25
5.00

5.26
5.41
5.52
8.25
5.00

5.25
5.38
5.50
8.25
5.00

5.25
5.38
5.46
8.25
5.00

5.35
5.49
5.69
8.25
5.00

5.26
5.41
5.52
8.25
5.00

5.01
5.17

4.96
5.07

5.01
5.11
5.34

5.01
5.12

5.04
5.15

5.15
5.29
5.57

5.01
5.12
5.34

4.91
5.08
5.30

4.98
5.10
5.26

5.00
5.11
5.26

5.00
5.13
5.26

5.03
5.10
5.18

5.09
5.24
5.50

4.99
5.11
5.25

5.06
5.31
5.61
5.99
6.16
6.35
6.50
6.61
6.95
6.85

5.13
5.31
5.57
5.94
6.30
6.45
6.55
6.92
6.83

5.14
5.32
5.55
5.91
6.08
6.28
6.43
6.54
6.92
6.83

5.14
5.34
5.56
5.93
6.09
6.29
6.44
6.55
6.92
6.83

5.16
5.31
5.48
5.81
5.97
6.15
6.29
6.42
6.79
6.71

5.24
5.45
5.83
6.23
6.41
6.60
6.73
6.83
7.17
7.03

5.12
5.32
5.55
5.91
6.08
6.27
6.42
6.53
6.90
6.81

6.92

6.89

6.89

6.89

6.76

7.13

6.87

7.46
8.14
7.77
5.70
8.06

7.43

7.40
8.08
7.82
5.72
7.88

7.39
8.07
7.86
5.75
7.86

7.28
7.96
7.73
5.70
7.78

7.66
8.35
8.06
5.87
8.23

7.39
8.07
7.83
5.72
7.92

See overleaf for footnotes




6.10

8.10

7.87
5.73
7.86

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

Oct 1
Oct 2
Oct 3
Oct 4
Oct 7
Oct 8
Oct 9
Oct 10
Oct 11
Oct 14*
Oct 15
Oct 16
Oct 17
Oct 18
Oct 21
Oct 22
Oct 23
Oct 24
Oct 25
Oct 28
Oct 29
Oct 30
Oct 31

5.53
5.24
5.17
5.04
5.16
5.11
5.43
5.29
5.16
5.16
5.41
5.20
5.19
5.12
5.21
5.19
5.58
5.29
5.27
5.29
5.22
5.31
5.63

C om m
paper
1-mo.

Federal Reserve Board
November 5, 1996

— Tre a su ry bills —
3-m o. 6-m o. 1-yr.

5.43
5.41
5.40
5.37
5.36
5.36
5.36
5.36
5.35

4.97
4.90
4.91
4.88
4.93
4.99
4.99
5.01
5.00

5.35
5.35
5.35
5.34
5.35
5.35
5.36
5.36
5.37
5.37
5.37
5.36
5.38

5.03
5.01
4.98
4.98
4.99
5.02
5.00
5.00
5.00
5.05
5.01
5.01
5.03

5.14
5.09
5.10
5.04
5.09
5.09
5.10
5.14
5.10
5.12
5.12
5.09
5.10
5.13
5.14
5.13
5.13
5.12
5.13
5.09
5.09
5.09

3-m o. 6-mo.

1-yr.

Tre a su ry constant maturities
2 -yr. 3 -yr. 5 -yr. 7-yr.
10-yr.

20-yr.

30-yr.

5.34
5.30
5.30
5.18
5.23
5.23
5.25
5.30
5.28

5.10
5.03
5.04
5.01
5.11
5.12
5.12
5.15
5.13

5.35
5.29
5.31
5.24
5.29
5.29
5.31
5.35
5.31

5.65
5.61
5.61
5.47
5.53
5.53
5.56
5.66
5.57

6.03
5.98
6.00
5.85
5.89
5.90
5.96
6.01
5.92

6.22
6.15
6.16
6.00
6.06
6.06
6.11
6.17
6.09

6.39
6.35
6.35
6.20
6.25
6.26
6.31
6.37
6.29

6.54
6.49
6.49
6.36
6.41
6.42
6.46
6.51
6.46

6.65
6.61
6.61
6.48
6.53
6.53
6.55
6.61
6.55

6.99
6.95
6.95
6.83
6.88
6.89
6.93
6.98
6.93

6.88
6.84
6.84
6.74
6.78
6.79
6.83
6.89
6.84

5.28
5.28
5.23
5.23
5.25
5.27
5.26
5.26
5.25
5.26
5.17
5.17
5.15

5.17
5.14
5.12
5.12
5.14
5.16
5.13
5.14
5.14
5.19
5.14
5.14
5.17

5.34
5.33
5.30
5.31
5.34
5.35
5.34
5.34
5.33
5.34
5.30
5.30
5.30

5.58
5.58
5.52
5.52
5.55
5.57
5.56
5.56
5.55
5.56
5.46
5.46
5.44

5.93
5.94
5.89
5.89
5.91
5.95
5.94
5.94
5.90
5.92
5.77
5.79
5.77

6.10
6.12
6.06
6.05
6.07
6.12
6.11
6.10
6.07
6.10
5.94
5.95
5.92

6.30
6.31
6.25
6.25
6.27
6.31
6.31
6.29
6.26
6.29
6.12
6.12
6.10

6.46
6.46
6.40
6.39
6.41
6.45
6.45
6.45
6.42
6.43
6.27
6.27
6.24

6.56
6.57
6.51
6.50
6.52
6.56
6.56
6.57
6.54
6.56
6.40
6.40
6.37

6.94
6.96
6.89
6.88
6.89
6.93
6.92
6.94
6.90
6.91
6.77
6.77
6.74

6.85
6.86
6.81
6.79
6.81
6.85
6.84
6.85
6.82
6.83
6.70
6.69
6.66

* Market closed

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

T he daily effective federal funds rate is a weighted average of rates on trades through N .Y . brokers.
W eekly figures are av erag e s of 7 calendar d ay s ending on W ed ne sd ay of the current w eek; monthly figures
include each calendar d ay in the month.
A nnualized using a 36 0 -d a y year or bank interest.
Quoted on a discount b asis.
An averag e 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 yield s for acceptances of the highest rated m oney center banks.
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 ral 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.
Y ie ld s on actively traded issu e s adjusted to constant maturities. So urce: U .S . T reasury.
Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
Estim ate of the yield on a recently offered, A-rated utility bond with a maturity of 30 years and call protection of
5 years; Friday quotations.
Bond Buyer Index, general obligation, 20 y e ars to maturity, mixed quality; T hursd 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 averages of b usin ess d a y s 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. This
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 T re asu r securities in the over-the-counter market. T h e se market yields are calculated from com posites of quota­
tions obtained by the Federal R eserve Bank of New York. The constant maturity yield values are read from the yield curve
at fixed maturities, currently 3 and 6 months and 1 , 2 , 3, 5, 7 , 1 0 , 20, and 30 years. T h is method provides a yield for a 10 year maturity, for exam ple, even if no outstanding security has exactly 10 years rem aining to maturity. In estimating the
2 0 -y e a r constant maturity, the Treasury incorporates the prevailing market yield on an outstanding Tre asury bond with
approxim ately 20 ye a rs rem aining to maturity.