Full text of H.15 Selected Interest Rates : April 1, 1985

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FEDERAL RESERVE statistical release
H.15 (519)

For Immediate release
*

SELECTED
INTEREST RATES
Yields in percent per annum
Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COHHEBCIAL PAPEB 2 / 3 /
1-HOHTH
3-HOSTB
6-HONTH
FINANCE PAPEE PLACED DIBECTLY 2 /
1-HOHTH
3-HONTH
6-HO NTH
BANKEBS ACCEPTANCES (TOP BATED) 2 /
3-HONTH
6-BONTH
CDS (SECONDARY BABKET)
1-HOMTH
3-HONTH
6-HO NTH
BANK PRIME LOAN
1/4/
DISCOUNT WINDOW BOBBOWING 1 / 5 /
U . S . GOVERNMENT SECUBITIES
TBEASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-HONTH
6-HONTH
1-YEAR
AUCTION AVEBAGE (INVESTHEHT) 6 /
3-HONTH
6-HONTH
SECONDARY HABKET 2 /
3-HONTH
6-HONTH
1-YEAR
TBEASURY CONSTANT HATUBITIES 7 / 8 /
1-YEAR
2-YEAB
3-YEAR
5-YEAB
7-YEAR
10-YEAR
20-YEAB
30-YEAB
COHPOSITE
OVER 10 YEARS(LOMG-TEBH)9/
COBPOBATE BONDS
HOODY'S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL B08DS 1 1 /
CONVENTIONAL HORTGAGES 1 2 /

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
NOTE:

Week ending

HAB
25

HAS
26

HAR
27

HAB
28

BAB
29

HAR
29

HAB
22

FEB

8.45

7.99

7.79

8.89

8.58

8.38

8.75

8.50

8.68
8.80
9.13

8.63
8.75
9.08

8.62
8.71
9.03

8.72
8.78
9.00

8.69
8.70
8.86

8.67
8.75
9.02

8.72
8.86
9.21

8.46
8.54
8.69

8.70
8.66
8.72

8.61
8.64
8.67

8.61
8.64
8.67

8.55
8.52
8.68

8.59
8.52
8.61

8.61
8.60
8.67

8.65
6.68
8.73

8.42
8.25
8.20

8.75
9. 10

8.70
8.95

8.65
8.95

8.65
8.80

8.65
8.75

8.68
8.91

8.83
9. 19

8.55
8.69

8.60
8.79
9.35
10.50
8.00

8.62
8.80
9.34
10.50
8.00

8,. 66
8.83
9.26
10.50
8.00

8.63
8.78
9. 16
10.50
8.00

8.64
8.82
9.31
10.50
8.00

8.74
9.01
9.58
10.50
8.00

8.50
8.69
9.04
10.50
8.00

8.41
8.86

8.41
8.86

8.64
9.04
9.24

8.22
8.34
8.46

8.71
9.40

8.71
9.40

8.96
9.60

8.51
8.83

8.29
8.71
8.90

8.51
8.96
9.15

8.27
8.39

8.70
8.91
9.46
10.50
8.00

8.42
8.87
9.03

8.34
8.80
8.98

8.33
8.73
8.93

8.19
8.60
8.84

9.83
10.71
11.05
11.53
11.80
11.86
12.03
11.79

9.77
10.63
10.97
11.45
11.73
11.77
11.95
11.72

9.71
10.63
10.99
11.49
11.82
11.84
11.98
11.78

9.61
10.53
10.86
11.38
11.69
11.75
12.01
11.73

9.49
10.43
10.79
11.29
11.59
11.65
11.89
11.64

9.68
10.59
10.93
11.43
11.73
11.77
11.97
11.73

9.97
10.81
11.13
11.60
11.90
11.92
12. 11
11.87

9.29
10.17
10.55
11. 13
11.44
11.51
11.70
11.47

11.77

11.68

11.73

11.69

11.61

11.70

11.83

11.35

12,55
13.71

12.49
13.67

12.54
13.68

12.50
13.69

12.42
13.67
13.06

12.50
13.68
13.06
9.75
13.29

12.64r
13.75
13.22
9.82
13.24r

12. 13
13.23
12.76
9.65
12.92

8. 18
8.55
8.74

9.75
13.29

8.56

WEEKLY FIGUBES ABE AVEBAGES OF 7 CALENDAR DAYS ENDING OS WEDNESDAY OF THE CURRENT iEEK;
HOKTHLY FIGUBES INCLUDE EACH CALENDAR DAY IN THE BONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COHHEBCIAL PAPEB PLACED FOR FIRHS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
ISSUE DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT HATURITIES.
SOURCE: U . S . TREASURY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT HATUBITY S E R I E S .
UNWEIGHTED AVERAGE OF ALL I S S U E S OUTSTANDING OF BONDS NEITHER DUE NO* CALLABLE IN LFSS THAN 10 YEARS,
INCLUDING SEVERAL VERY LOW YIELDING "FLOWER" BONDS.
ESTIMATE OF THE YIELD ON A BECEHTLY-OFFERED, A-BATED UTILITY BOND WITH A HATUBITY OF 3 0 YEABS AWD CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BUYER INDEX, GENERAL OBLIGATION, 2 0 YEARS TO HATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTBACT INTEREST RATES ON COHKITHENTS FOB FIXED-BATE F I B S T HORTGAGES.
SOUBCE: FHLBC.
WEEKLY AND MONTHLY FIGUBES ABE AVEBAGES OF DAILY BATES, EXCEPT FOR STATE & LOCAL BONDS,
WHICH ARE BASED 0 * THUBSDAY FIGURES, AND COHVEVTIONAL flOBTGAGES AND A-OTILITY BO9DS,
BOTH OF WHICH ABE BASED ON FBIDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
MAR
27
FEDERAL FUNDS (EFFECTIVE) 1/
3-MONTH TREASURY BILL 2/
3-MONTH COMMERCIAL PAPER 2/
3-MONTH CD (SECONDARY MARKET)
3-MONTH EURODOLLAR 3/
U. S. GOVERNMENT BOND 4/

8.38
8.41
8.76 :
8.86
9.19 :
12.01

4 WEEKS ENDED

1985 :
MAR
20 :
8..75
8.54
8.98
9.13
9.33
12.14

:
:
:
:
:

1985 :
MAR :
27

1985
MAR
6

8.57
8 .51
:
8.36
8.55
8.92 :
8 .66
9.04 :
8.82
9..20
9.36 :
12.08 :. 11..82

1. FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR
SEVEN CALENDAR DAYS ENDING ON WEDNESDAY.
2. QUOTED ON BANK DISCOUNT BASIS. "
3. FOR INDICATION PURPOSES ONLY.
4. YIELD AT 20-YEAR CONSTANT MATURITY. SOURCE: U.S. TREASURY

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
YIELDS ON TREASURY SECURITIES AT "CONSTANT MATURITY" ARE
ESTIMATED FROM THE TREASURY'S 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 LEADING U.S.GOVERNMENT
SECURITIES DEALERS TO THE FEDERAL RESERVE BANK OF NEW YORK.
THE CONSTANT YIELD VALUES ARE READ FROM THE YIELD CURVE AT
FIXED MATURITIES, CURRENTLY 1, 2, 3, 5, 7, 10, 20, AND 30 YEARS.
THIS METHOD PERMITS ESTIMATION OF THE YIELD FOR A 10-YEAR MATURITY,
FOR EXAMPLE, EVEN IF NO OUTSTANDING SECURITY HAS EXACTLY 10 YEARS
REMAINING TO MATURITY.