Full text of G.13 Selected Interest Rates : October 5, 1993

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FEDERAL RESERVE statistici&fireiease
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These data are released the first Tuesday of each month. The availability of the release is announced on (202) 452-3206.
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6 .1 3 ( 4 1 5 )

SELECTED INTEREST RATES

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For immediate release
October 5, 1993

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Yields in percent per annum
W e e k En din g
Instrum ents

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 m arket)3 8
1-month
3-month
6-month
Eurodollar deposits (London) 39
1-month
3-month
6-month
Bank prime loan2 3 10
Discount window borrowing 211
U.S. government securities
Treasury bills
Auction average 3412
3-month
6-month
1-year
Auction average (investment)12
3-month
6-month
Secondary market3 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
O ver 10 years (long-term )14
Corporate bonds
Moody’s seasoned
Aaa
Baa
A-utility 15
State & local bonds 16
Conventional mortgages 17

See overleaf for footnotes



Sep
3

Sep
10

Sep
17

Sep
24

Oct
1

Aug

Sep

3.08

2.99

3.03

3.12

3.05

3.03

3.09

3.14
3.16
3.27

3.12
3.13
3.22

3.14
3.15
3.24

3.15
3.16
3.26

3.17
3.18
3.26

3.14
3.18
3.33

3.14
3.16
3.25

3.07
3.11
3.13

3.05
3.09
3.10

3.07
3.09
3.11

3.08
3.09
3.11

3.10
3.10
3.11

3.08
3.13
3.16

3.07
3.09
3.11

3.08
3.18

3.06
3.16

3.08
3.18

3.08
3.17

3.10
3.17

3.10
3.23

3.07
3.17

3.09
3.13
3.26

3.08
3.11
3.22

3.09
3.12
3.26

3.10
3.11
3.24

3.10
3.16
3.24

3.09
3.14
3.32

3.09
3.12
3.24

3.06
3.11
3.30
6.00
3.00

3.00
3.06
3.21
6.00
3.00

3.05
3.08
3.26
6.00
3.00

3.06
3.06
3.25
6.00
3.00

3.06
3.14
3.25
6.00
3.00

3.06
3.14
3.34
6.00
3.00

3.05
3.08
3.25
6.00
3.00

3.02
3.11

2.95
3.03

2.98
3.06

2.93
3.06
3.27

2.90
3.02

3.05
3.17
3.30

2.96
3.06
3.27

3.08
3.20

3.01
3.12

3.04
3.15

2.99
3.15

2.96
3.11

3.12
3.26

3.02
3.15

2.99
3.09
3.21

2.96
3.06
3.18

2.96
3.07
3.24

2.93
3.06
3.26

2.92
3.04
3.21

3.02
3.14
3.30

2.95
3.06
3.22

3.34
3.83
4.16
4.76
5.09
5.41
6.06

3.32
3.79
4.09
4.66
5.00
5.28
5.90

3.38
3.88
4.19
4.73
5.10
5.35
5.98

3.39
3.90
4.22
4.80
5.16
5.44
6.09

3.35
3.83
4.17
4.72
5.03
5.33
5.99

3.44
4.00
4.36
5.03
5.35
5.68
6.32

3.36
3.85
4.17
4.73
5.08
5.36
6.00

5.97

5.84

5.93

6.03

5.94

6.18

5.94

6.61
7.34
6.83
5.35
6.93

6.51
7.26
6.85
5.24
6.82

6.66
7.33
6.99
5.27
6.96

6.79
7.43
7.07
5.30
6.95

6.69
7.35
6.95
5.30
6.89

6.85
7.60
7.16
5.45
7.11

6.66
7.34
6.94
5.29
6.92

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

Fed
funds
Sep 1
Sep 2
Sep 3
Sep 6 4
Sep 7
Sep 8
Sep 9
Sep 10
Sep 13
Sep 14
Sep 15
Sep 16
Sep 17
Sep 20
Sep 21
Sep 22
Sep 23
Sep 24
Sep 27
Sep 28
Sep 29
Sep 30

3.25
3.03
2.94
2.94
3.11
3.02
2.99
2.94
3.05
3.00
3.38
3.10
2.99
3.38
3.23
3.14
3.06
2.99
3.16
3.08
3.10
3.99

Comm CDs
paper sec mkt
3-mo. 3-mo.

------Treasury bills------3-mo. 6-mo. t-yr.

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

30-yr.

...

3.17
3.17
3.14

3.13
3.13
3.10

3.01
2.99
2.94

3.10
3.09
3.03

3.23
3.21
3.12

3.36
3.34
3.25

3.88
3.83
3.71

4.21
4.16
4.04

4.81
4.76
4.65

5.12
5.09
5.01

5.46
5.41
5.31

6.09
6.04
5.95

3.13
3.13
3.14
3.13
3.14
3.16
3.16
3.15
3.14
3.14
3.16
3.17
3.17
3.16
3.17
3.18
3.19
3.19

3.10
3.09
3.12
3.11
3.10
3.13
3.14
3.12
3.12
3.12
3.12
3.12
3.10
3.10
3.10
3.09
3.09
3.25

2.93
2.96
2.98
2.96
2.97
2.99
2.96
2.95
2.95
2.95
2.92
2.92
2.93
2.93
2.91
2.90
2.93
2.92

3.03
3.06
3.09
3.06
3.06
3.09
3.07
3.07
3.08
3.07
3.05
3.06
3.06
3.06
3.03
3.03
3.06
3.04

3.13
3.18
3.23
3.18
3.19
3.26
3.24
3.25
3.27
3.28
3.25
3.26
3.26
3.26
3.19
3.19
3.23
3.25

3.26
3.32
3.37
3.32
3.33
3.41
3.39
3.39
3.39
3.41
3.38
3.39
3.39
3.39
3.32
3.32
3.36
3.39

3.70
3.78
3.88
3.80
3.82
3.91
3.89
3.88
3.89
3.92
3.90
3.90
3.87
3.90
3.81
3.79
3.84
3.89

401
4.07
4.18
4.11
4.13
4.23
4.19
4.19
4.19
4.23
4.21
4.22
4.22
4.22
4.12
4.11
4.19
4.24

4.60
4.63
4.74
4.67
4.66
4.77
4.75
4.74
4.75
4.79
4.80
4.81
4.80
4.81
4.69
4.67
4.74
4.79

4.96
4.96
5.06
5.01
4.99
5.12
5.14
5.12
5.11
5.13
5.19
5.17
5.15
5.14
5.01
4.98
5.03
5.11

5.23
5.23
5.35
5.29
5.26
5.37
5.39
5.37
5.38
5.42
5.47
5.45
5.42
5.42
5.30
5.28
5.35
5.40

5.88
5.86
5.96
5.89
5.86
5.97
6.00
6.01
6.04
6.08
6.14
6.10
6.06
6.06
5.97
5.94
6.00
6.04

*Market closed

FO O TN O TE S

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. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury.
14. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
15. 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.
16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
17. 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 O F TH E TR EA SU R Y C O N S TA N T M ATURITY 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 bv five lead­
ing U S. Government securities dealers to the Federal Reserve Bank of New York. The constant maturity yield values are read
rom the yield curve at fixed matunties, currently 1,2,3,5,7,10, and 30 years. This method provides a yield fora 10-year maturity
for example, even if no outstanding security has exactly 10 years remaining to maturity.
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