Full text of G.13 Selected Interest Rates : October 4, 1994

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FEDERAL RESERVE statistical release
These data are released^hjs first^yesday of each month. The availability of the release i« announced on (202) 452-3206.

(ftj 3*^415)

&

^ | E C T E b INTEREST RATES

For immediate release
October 4, 1994

VJSdsjn^rcef&er annum
VaJ w .>M------ = = ------------------------------------------------------^

^
ui
u. o

^

°

OJ

^ nstr^

ents *

F e ^ a tfD n d s (effective)1< ^
Commercial papered)5
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-rionth
6-month
Eurodollar deposits (London) 39
1-month
3-month
6-month
Bank prime loan 2310
Discount window borrow;
211
U.S. government securities
Treasury bills
Auction average 34 12
3-month
6-month
1-year
Auction average (investm ent)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

See overleaf for footnotes




W eek Ending

5
S

Sep
2

Sep

Sep

Sep
30

Sep

16

Sep
23

Aug

9

4.72

4.74

4.70

4.73

4.66

4.47

4.73

4.80
4.90
5.15

4.82
4.92
5.17

4.87
4.95
5.24

4.93
5.07
5.39

5.01
5.17
5.50

4.65
4.84
5.19

4.90
5.02
5.32

4.71
4.81
4.86

4.74
4.81
4.87

4.76
4.86
4.93

4.80
4,91
5.04

4.88
5.00
5.13

4.56
4.73
4.79

4.79
4.89
4.99

4.81
5.05

4.81
5.07

4.88
5.17

5.01
5.35

5.13
5.44

4.74
5.03

4.95
5.24

4.75
4.88
5.20

4.77
4.89
5.23

4.80
4.96
5.32

4.88
5.08
5.50

4.97
5.21
5.60

4.60
4.81
5.17

4.85
5.03
5,40

4.74
4.88
5.19
7.75
4.00

4.75
4.88
5.21
7.75
4.00

4,75
4.94
5.31

4.86
5.01
5.49
7.75
4.00

4.94
5.26
5.59
7.75
4.00

4.57
4.80
5,16
7.51
3.76

4.82
5.01
5.38
7.75
4.00

4.61
4.93

4.58
4.89

4.61
4 99

4.61
5.05
5.38

4 79
5.22

4.50
4.91
5.36

4.64
5.02
5.38

4.73
5.13

4.70
5.08

4.73
5.19
5.69

4.73
5.25

4.92
5.44

4.61
5.11
5.67

4.76
5.22
5.69

4.56
4.86
5.26

4.56
4.88
5.30

4.59
4.98
5.38

4.71
5.14
5.53

4.66
5.21
5.58

4.48
4.88
5.25

4.62
5.04
5.43

5.56
6.17
6.45
6.83
7.02
7.21
7.62
7.48

5.62
6.25
6.55
6.95
7.14
7.33
7.76
7.61

5.72
6.35
6.65
7.05
7.26
7.44
7.87
7.70

5.85
6.47
6.78
7.17
7.38
7.54
7.93
7.78

5.92
6.56
6.87
7.25
7.44
7.60
7.99
7.83

5.56
6.18
6.50
6.88
7.06
7.24
7.62
7.49

5.76
6.39
6.69
7.08
7.28
7.46
7.87
7.71

7.55

7.69

7.79

7.91

7.92

7.55

7.81

8.09
8.76
8.38
6.16
8.48

8.22
8.88
8.59
6.18
8.51

8.32
8.97
8.69
6.24
8.66

8.41
9.04
8.70
6.37
8.73

8.48
9.10
8.71
6.43
8.82

8.07
8.74
8.36
6.21
8.51

8.34
8.98
8.62
6.28
8.64

7.75

4.00

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

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

4.76
4.72
4.72
4.81
4.74
4.72
4.68
4.73
4.64
4.78
4.79
4.68
4.71
4.70
4.87
4.78
4.71
4.78
4.29
4.61
4.77
5.44

Comm
paper
3-mo.

Federal Reserve Board
October 4, 1994
CDs
sec mkt
3-mo.

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

'

2-yr.

1 -yr.

4.90
4.89

4.89
4.86

4.55
4.55

4.81
4.85

5.25
5.24

5.56
5.55

4.90
4.91
4.92
4.95
4.96
4.95
4.95
4.94
4.97
4.99
5.01
5.04
5.15
5.15
5.17
5.18
5.15
5.14
5.20

4.87
4.87
4.88
4.95
4.94
4.96
4.95
4.96
4.98
4.98
5.04
5.04
5.18
5.15
5.16
5.18
5.16
5.15
5.41

4.55
4.54
4.55
4.58
4.59
4.60
4.58
4.58
4.61
4.58
4.62
4.79
4.79
4.78
4.78
4.71
4.54
4.58
4.67

4.84
4.87
4.87
4.95
4.98
4.98
4.96
4.95
5.03
5.03
5.09
5.19
5.19
5.21
5.23
5.20
5.17
5.23
5.22

5.26
5.28
5.27
5.37
5.38
5.36
5.34
5.32
5.48
5.47
5.50
5.57
5.55
5.56
5.58
5.56
5.55
5.61
5.62

5.58
5.60
5.59
5.70
5.72
5.70
5.68
5.69
5.79
5.78
5.82
5.90
5.88
5.89
5.91
5.89
5.88
5.95
5.96

*

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

20-yr.

30-yr.

6.15
6.17

6.44
6.45

6.81
6.82

7.01
7.01

7.19
7.21

7.60
7.64

7.46
7.50

6.22
6.22
6.22

6.50
6.51
6.51

6.88

6.35
6.37
6.35
6.33
6.28
6.42
6.39
6.44
6.52
6.50
6.52
6.54
6.52
6.51
6.60
6.62

6.67
6.65
6.63
6.58
6.72
6.71
6.75
6.81
6.80
6.83
6.83
6.83
6.83
6.92
6.92

7.08
7.11
7.10
7.26
7.27
7.26
7.23
7.19
7.34
7.32
7.37
7.40
7.39
7.40
7.41
7.44
7.42
7.48
7.46

7.27
7.29
7.30
7.44
7.46
7.44
7.41
7.35
7.52
7.49
7.53
7.56
7.56
7.57
7.57
7.61
7.57
7.64
7.62

7.71
7.73
7.73
7.88
7.89
7.87
7.83
7.80
7.95
7.90
7.93
7.95
7.94
7.95
7.95

7.55
7.58
7.58
7.71
7.72
7.70
7.68
7.64
7.78
7.75
7.78
7.80
7.79
7.80
7.80
7.85
7.81
7.86
7.82

6.66

6.92
6.92
7.06
7.08
7.05
7.02
6.97
7.13
7.11
7.15
7.20
7.20
7.20
7.21
7.24
7.21
7.29
7.28

8.01

7.97

8.02
7.98

* Market closed

FO O TN O TES

1. The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers.
2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include
each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. Quoted on a discount basis.
5. An average of offering rates on commercial paper placed by several leading dealers for firms whose bond rating is AA
or the equivalent.
6. An average of offering rates on paper directly placed by finance companies.
7. Representative closing yields for acceptances of the highest rated money center banks.
8. An average of dealer offering rates on nationally traded certificates of deposit.
9. Bid rates for Eurodollar deposits at 11 a.m. London time.
10. One of several base rates used by banks to price short-term business loans.
11. Rate for the Federal Reserve Bank of New York.
12. Auction date for daily data; weekly and monthly averages computed on an issue-date basis.
13. Auction dates for daily, weekly and monthly averages.
14. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury.
15. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
16. Estimate 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.
17. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
18. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC.
Note: Weekly and monthly figures are averages of business days unless otherwise noted.
DESCRIPTION OF TH E TR EASU R Y C O N STA N T MATURITY SERIES

Yields on Treasury securities at ’constant maturity’ are interpolated by the U.S. Treasury 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 yields on actively traded Treasury
securities in the over-the-counter market. These market yields are calculated from composites of quotations reported by five lead­
ing U.S. Government securities dealers to the Federal Reserve 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. This method provides a yield for a 10-year
maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. In estimating the 20-year con­
stant maturity, the Treasury incorporates the prevailing market yield on an outstanding Treasury bond with approximately 20 years
remaining to maturity.