Full text of H.15 Selected Interest Rates : April 10, 1989

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FEDERAL RESERVE statistical release
These data are released each Monday. The availability of the release will be announced when the information
is available, on (202) 452-3206.

H.15 (519)

For iaMediate release
April 10,

SELECTED INTEREST RATES
Yields in percent per tnnui

Instruments
1

FEDERAL FUNDS (EFFECTIVE)
COMCRCIAL PAPER2 3
1-MONTH
3 -MONTH
6-MONTH
FINANCE PAPER PLACED DIRECTLY2
1-MONTH
3-MONTH
6-MONTH
BANKERS ACCEPTANCES (TOP RATED) 2
3-MONTH
6-MONTH
CDS (SECONDARY MARKET)
1-MONTH
3-MONTH
6-MONTH
BANK PRIME LOAN1 *
DISCOUNT MINDOH BORROKENG1 5
U.S. GOVERftiENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE2 *
3-MONTH
6-MONTH
1-YEAR
"
AUCTION AVERAGE (INVESTMENT) 4
3-MONTH
6-MONTH
SECONDARY MARKET2
3-MONTH
6-MONTH
1-YEAR
TREASURY CONSTANT MATURITIES 7 *
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS!LONG-TERM)*
CORPORATE BONDS
MOOOY'S SEASONED
AAA
BAA
A-UTILITY10
STATE ft LOCAL BONDS11
CONVENTIONAL MORTGAGES12

1989
APR
3

1989

1969

1969

1989

APR
4

APR
5

APR
6

APR
7

This

Last

NMk

We4M\

9.92

9.52

9.28

9.85

9.83

9.71

9.88

9.85

4

9.87
9.94
4
».95

9.84
9.91
9.92

9.80
4
9.87
i
1.67

9.61
9.88
9.86

9.81
9.88
9.66

9.83
9.90
9.90

9.95«
10.04
10.07

9.88
9.95
9.97

*.79
9.80
4
9.30

9.76
9.77
9.30

4

9.75
9.75
9.30

9.75
9.79
9.28

9.72
9.75
9.30

9.75
9.77
9.30

>.64«
>.88
>.4O

9.77
9.70
9.17

9.75
>.75

9.75
9.74

9.73
>.72

9.78
9.75

9.75
9.74

9.75
9.74

>.9O
>.97

9.63
9.87

9.88
10.06
10.34'
11.50
7.00

9.86
10.05
10.30
11.50
7.00

9.85
10.01
10.23
11.50
7.00

9.87
10.04
10.26
11.50
7.00

9.65
10.01
10.25
11.50
7.00

9.86
10.03
10.28
11.50
7.00

9.98
10.16
10.53
11.50
7.00

9.91
10.09
10.40
11.50
7.00

1.67
1.64

9.10
9.12

1.63
1.87
>.68

9.20
9.36

K44
>.69

1.82

>.00
<>.O6
1.94

4

«
1

4
4

4
4

<
4

8.87
8.84
6.75
9.20
9.38

4

4

1.81
1.74
1.70

1.82
1.87
1.77

1.82
1.72
1.71

1.64
1.76
1.76

4

4

4

<

(

4

4

9.47
9.35
49.30
9.20
9.04
9.20

9.27

9.21

9.32

9.33

9.49

<

<9.54

9.22

9.18

i

9.17

4

9.47
9.52
4
9.47
4
9.36
4
9.29
4
9.20
4
9.05

11.82
11.85
1.62

9.52
9.57
4
9.54
4
9.42
4
9.38
4
9.27
i
9.11

4

I

i

11.77
11.74

4

4

1.50
9.56
4
9.50
4
9.39
4
9.29
4
9.21
l
9.07

4

4

9.42
9.45
4
9.40
4
9.31
49.24
49.17
4
9.02

!

9.16
9.42

4

4

4

9.42
).47
(
1.44
9.31
4
9.24
49.17
9.03

41.80
11.78
I 1.76

1989
MAR

9.71
9.61
49.74
49.61
4
9.47
49.37
49.17

9.57
9.66
49.61
4
9.51
49.43
49.36
9.17

9.80
9.88
9.61
10.67
10.69
10.60
10.37
10.32
10.40
7.59
7.64
7.56
7.56
11.03
11.19
11.07
11.07
Meekly figures ere averages of 7 calendar days ending an Hadnaiday of the current week*
Monthly figures include each calendar day in the Month.
2. Quoted on bank -discount basis.
3. Rates on ooMaercial paper placed for firm* Mhose bond rating is AA or the equivalent.
4. Rate charged by benfcs on short-tent business loans.
5. Rate for the Federal Reserve Bank of Mew York.
6. Auction date for daily data} Meekly end Monthly averagat on issue-date besis.
7. Yields on actively traded issues adjusted to oonstant Maturities. Source: U.S. Treasury.
8. See reverse for a description of the constant Maturity series. The 20-year oonstant Maturity yield
was discontinued at the end of 1986 because the Treasury no longer issues e 20-year bond.
Unweighted average of all issues outstanding of bonds neither dua nor callable in less then
10 years, including one very low yielding "flower" bond.
10. Estimate of the yield on a recently offered, A-rated utility bond with a Maturity of 30 years
and call protection of 5 yearsj Friday quotations.
11. Bond Buyer Index* general obligation* 20 years to Maturity* Mixed quality* Thursday quotations.
12. Contract interest rates on ooaanteents for fixed-rate first Mortgages. Source: FHLMC.
Not* : Meekly and Monthly figures are averages of daily rates, except for stateftlocal bonds (Thursday
data) end conventional Mortgages and A-utility bonds (Friday data).
« The 1-«onth ooHMercial paper rate on March 31 was revised to 9.91 percent* the 1-Month fi
paper rate oh March 30 was revised to 9.79 percent.




9.85
10.57

9.82
10.57

9.82
10.56

9.78
10.63

9.80
10.66
10.40

SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM

WEEK ENDING WEDNESDAY
WEEK ENDED
1989:
APR.

FEDERAL
3-MONTH
3-MONTH
3 MONTH
3-MONTH

1.
2.
3.

FUNDS (EFFECTIVE)1
TREASURY BILL2
COMMERCIAL PAPER2
CD(SECONDARY MARKET)
EURODOLLAR3

4 WEEKS ENDED

1989:
MAR.

1989:

5

29

APR
5

9.71
8.86
9.94
10.07
10.14

9.88
9.04
10.07
10.19
10.31

9.82
8.89
9.99
10.13
10.21

1989

MAR
8
9.57
8.58
9.58
9,72
9.83

FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR SEVEN CALENDAR DAYS
ENDING ON WEDNESDAY.
QUOTED ON BANK DISCOUNT BASIS.
FOR INDICATION PURPOSES ONLY.

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, 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.