Full text of G.13 Selected Interest Rates : September 3, 1991

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FEDERAL RESERVE statistical release
These data are scheduled for release on the first Tuesday of each month. The availability of the release will be announced
when the information is available, on (202) 452-3206.
G . 13

(415)

For

SELECTED INTEREST RATES
Yields

in p e r c e n t

per annum
Neek

AUG
30

JUL

AUG

5.62

5.68

5.58

5.82

5.66

5.73
5.74
5.81

5.69
5.68
5.71

5.64
5.64
5.66

5.72
5.72
5.76

5.98
6.05
6.14

5.72
5.72
5.76

5.80
5.83
5.73

5.62
5.59
5.56

5.58
5.53
5.50

5.48
5.45
5.41

5.56
5.54
5.44

5.86
5.89
5.81

5.58
5.56
5.50

5.80
5.88

5.56
5.58

5.50
5.51

5.49
5.47

5.54
5.54

5.89
5.97

5.54
5.55

5.84
5.90
6.14

5.66
5.69
5.87

5.62
5.62
5.78

5.57
5.58
5.68

5.63
5.63
5.72

5.92
5.98
6.25

5.64
5.65
5.79

5.83
5.91
6.16
8.50
5.50

5.64
5.66
5.91
8.50
5.50

5.61
5.61
5.79
8.50
5.50

5.58
5.58
5.69
8.50
5.50

5.61
5.64
5.76
8.50
5.50

5.90
6.01
6.30
8.50
5.50

5.63
5.65
5.82
8.50
5.50

5.58
5.69
5.88

5.51
5.59

5.30
5.39

5.17
5.23

5.40
5.47
5.36

5.58
5.71
6.00

5.39
5.47
5.62

5.75
5.96

5.68
5.85

5.46
5.63

5.33
5.46

5.57
5.72

5.76
5.98

5.56
5.72

5.53
5.65
5.81

5.40
5.46
5.54

5.29
5.36
5.40

5.24
5.28
5.30

5.34
5.37
5.41

5.58
5.70
5.91

5.33
5.39
5.45

6.18
6.80
7.21
7.76
8.02
8.17
8.35

5.88
6.56
6.92
7.54
7.83
7.98
8.21

5.72
6.40
6.77
7.40
7.71
7.87
8.13

5.62
6.28
6.66
7.29
7.64
7.82
8.09

5.74
6.36
6.70
7.35
7.68
7.84
8.08

6.31
6.92
7.38
7.91
8.15
8.27
8.45

5.78
6.43
6.80
7.43
7.74
7.90
8.14

8.39

8.24

8.16

8.12

8.11

8.50

8.17

8.93
9.80
9.35
6.99
9.44

8.82
9.69
9.30
6.94
9.27

8.73
9.62
9.18
6.88
9.19

8.69
9.62
9.24
6.86
9.17

8.70
9.60
9.17
6.85
9.15

9.00
9.89
9.55
7.05
9.58

8.75
9.65
9.25
6.90
9.24

2

AUG
9

5.79

5.83

5.92
5.95
6.04

Instruments
FEDERAL FUNDS 1EFFECTIVEl 1 2 3
COMMERCIAL PAPER 3 « s
1-MONTH
3-MONTH
6 -MONTH
FINANCE PAPER PLACED DIRECTLY 3 « 6
1-MONTH
3 -MONTH
6 -MONTH
B A N K E R S A C C E P T A N C E S (TOP R A T E D ) 3 * 7
3 -MONTH
6-MONTH
CDS (SECONDARY MARKET)3 *
1 -MONTH
3 -MONTH
6 -MONTH
EURODOLLAR DEPOSITS (LONDON)3 9
1-MONTH
3-MONTH
6 -MONTH
B A N K P R I M E L O A N 2 3 10
D I S C O U N T W I N D O W B O R R O W I N G 2 11
U.S. G O V E R N M E N T S E C U R I T I E S
TREASURY BILLS
A U C T I O N A V E R A G E 3 4 12
3 -MONTH
6 -MONTH
1-YEAR
A U C T I O N A V E R A G E ( I N V E S T M E N T ) 12
3-MONTH
6 -MONTH
SECONDARY MARKET 3 4
3 -MONTH
6 -MONTH
1-YEAR
T R E A S U R Y C O N S T A N T M A T U R I T I E S 13
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
O V E R 1 0 Y E A R S C L O N G - T E R M ) 14
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A - U T I L I T Y 15
S T A T E & L O C A L B O N D S 16
C O N V E N T I O N A L M O R T G A G E S 17

Ending
AUG
16

AUG
23

AUG




immediate release
S e p t e m b e r 3> 1 9 9 1

SEE OVERLEAF FOR FOOTNOTES

FEDERAL RESERVE BOARD

September 3, 1991
For immediate release
G.13 (continued)
Daily interest rates
(Yields in p e r c e n t p e r an n u m ) *
0
9
8
7
6
5
4
3
2
1

U.S.
Fed
Funds

AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG
AUG

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

5.86
5.72
5.79
5.70
6.29
5.71
5.59
5.66
5.64
5.58
5.77
5.55
5.54
5.57
6.24
5.69
5.55
5.63
5.59
5.52
5.49
5.50

Comm
Paper
3-mo.

CDs
S e c Mkt
3-mo.

5.97
5.90
5.86
5.84
5.68
5.65
5.67
5.68
5.70
5.69
5.67
5.67
5.62
5.62
5.63
5.64
5.71
5.72
5.74
5.74
5.71
5.71

5.93
5.83
5.80
5.80
5.64
5.59
5.62
5.63
5.67
5.63
5.61
5.58
5.54
5.55
5.56
5.56
5.68
5.66
5.66
5.64
5.59
5.59

--- T r e a s u r y B i l l s ----3-mo.
6-mo.
1-yr.

5.55
5.46
5.50
5.41
5.38
5.37
5.32
5.31
5.29
5.29
5.30
5.26
5.11
5.11
5.28
5.31
5.39
5.41
5.38
5.30
5.27
5.33

5.67
5.56
5.58
5.47
5.44
5.41
5.38
5.38
5.40
5.36
5.35
5.30
5.20
5.13
5.28
5.32
5.46
5.47
5.43
5.32
5.29
5.36

5.85
5.68
5.68
5.56
5.51
5.48
5.46
5.46
5.46
5.38
5.35
5.33
5.21
5.17
5.31
5.34
5.49
5.51
5.47
5.36
5.33
5.40

l-yp.

6.23
6.04
6.04
5.91
5.85
5.82
5.80
5.80
5.80
5.70
5.67
5.65
5.52
5.48
5.63
5.66
5.82
5.85
5.80
5.68
5.65
5.72

Government Securities
r. * e a s u r y C o n s t a n t
3-yr.
5-yr.
2-yr.

6.84
6.69
6.69
6.57
6.54
6.52
6.49
6.49
6.48
6.37
6.33
6.31
6.24
6.17
6.27
6.27
6.46
6.48
6.41
6.30
6.25
6.36

7.22
7.06
7.05
6.91
6.90
6.90
6.86
6.85
6.84
6.75
6.73
6.69
6.63
6.58
6.65
6.65
6.78
6.81
6.76
6.65
6.59
6.68

7.78
7.62
7.62
7.54
7.51
7.53
7.51
7.49
7.46
7.37
7.37
7.33
7.31
7.24
7.27
7.25
7.39
7.44
7.42
7.32
7.24
7.34

.
Maturit
7-yr.

10-yr.

30-yr.

8.20
8.06
8.04
7.97
7.93
7.98
7.98
7.95
7.91
7.82
7.84
7.84
7.83
7.81
7.80
7.78
7.88
7.91
7.89
7.82
7.74
7.82

8.38
8.25
8.24
8.18
8.17
8.22
8.23
8.21
8.17
8.08
8.09
8.09
8.11
8.09
8.07
8.05
8.13
8.15
8.14
8.06
7.99
8.06

8.05
7.90
7.89
7.82
7.80
7.84
7.82
7.80
7.76
7.66
7.68
7.66
7.65
7.61
7.63
7.61
7.71
7.75
7.74
7.65
7.58
7.67

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

Note:

T h e d a i l y e f f e c t i v e f e d e r a l f u n d s r a l e is a w e i g h t e d a v e r a g e o f r a t e s o n t r a d e s t h r o u g h N . Y . b r o k e r s .
W e e k l y f i g u r e s a r e a v e r a g e s o f 7 c a l e n d a r d a y s e n d i n g o n Wec f o e s d a y o f t h e c u r r e n t w e e k *
m o n t h l y f i g u r e s i n c l u d e e a c h c a l e n d a r d a y in the month.
A n n u a l i z e d u s i n g a 3 6 0 - d a y year o r ba n k interest.
Q u o t e d on a disc o u n t basis.
An a v e r a g e of offering rates on commercial paper placed by several leading dealers
f o r f i r m s w h o s e b o n d r a t i n g is A A o r t h e e q u i v a l e n t .
A n a v e r a g e of o f f e r i n g rates o n p aper directly pl a c e d by finance companies.
R e p r e s e n t a t i v e c l o s i n g y i e l d s for a c c e p t a n c e s o f t h e h i g h e s t r a t e d m o n e y c e n t e r ban k s .
A n a v e r a g e o f d e a l e r o f f e r i n g rates o n n a t i o n a l l y trad e d c e r t i f i c a t e s of deposit.
B i d r a t e s f o r E u r o d o l l a r d e p o s i t s a t 11 a . m . L o n d o n tim e .
O n e of s e v e r a l b a s e r a t e s u s e d b y b a n k s to p r i c e s h o r t - t e r m b u s i n e s s loans.
R a t e f o r t h e F e d e r a l R e s e r v e B a n k o f N e w York.
A u c t i o n d a t e for d a i l y data* w e e k l y and monthly averages c o m p u t e d on a n issue-date basis.
Y i e l d s o n a c t i v e l y t r a d e d issues a d j u s t e d to c o n s t a n t matu r i t i e s .
Source:
U.S. Treasury.
U n w e i g h t e d a v e r a g e o f r a t e s o n a l l o u t s t a n d i n g b o n d s n e i t h e r d u e n o r c a l l a b l e in l ess t h a n 10 y e a r s ,
i n c l u d i n g o n e v e r y l o w y i e l d i n g " f l o w e r " bond.
E s t i m a t e of the y i e l d o n a recently offered, A- r a t e d u t i l i t y b o n d wit h a m a t u r i t y of 30 yea r s
and call protection of 5 years* Friday quotations.
B o n d B u y e r I n d e x , g e n e r a l o b l i g a t i o n , 20 y e a r s t o m a t u r i t y , m i x e d q u a l i t y * T h u r s d a y q u o t a t i o n s .
C o n t r a c t inte r e s t r a t e s o n c o m m i t m e n t s for f i x e d - r a t e f irst mortgages.
Source:
FHLMC.

Weekly and monthly

figures are averages of business days unless otherwise noted.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Y i e l d s o n T r e a s u r y s e c u r i t i e s a t 'constant m a t u r i t y ' a r e i n t e r p o l a t e d b y t h e U.S. T r e a s u r y f r o m t h e d a i l y
y i e l d c u r v e . T h i s c u r v e , w h i c h r e l a t e s t h e y i e l d o n a s e c u r i t y t o i t s t i m e t o m a t u r i t y , is b a s e d o n t h e
c l o s i n g m a r k e t b i d y i e l d s o n a c t i v e l y t r a d e d T r e a s u r y s e c u r t i e s in t h e o v e r - t h e - c o u n t e r m a r k e t .
T h e s e m a r k e t y i e l d s a r e c a l c u l a t e d from composites o f q u o t a t i o n s reported b y five le a d i n g U.S.
G o v e r n m e n t s e c u r i t i e s d e a l e r s to the Federal Re s e r v e B a n k of N e w York. The constant m a t u r i t y y i e l d v a l u e s
a r e r e a d f r o m t h e y i e l d c u r v e a t f i x e d m a t u r i t i e s , c u r r e n t l y 1, 2, 3, 5 , 7, 1 0, a n d 3 0 y e a r s .
This
m e t h o d p r o v i d e s a y i e l d f o r a 1 0 - y e a r m a t u r i t y , f o r e x a m p l e , e v e n if n o o u t s t a n d i n g s e c u r i t y h a s e x a c t l y
10 yea r s r e m a i n i n g to maturity.