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

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FEDERAL RESERVE statistical release
H.15 (519)

For immediate release
APBIL 15, 1985

SELECTED INTEREST RATES
Yields in percent per annum
Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COBBEBCIAL JPAPEB 2 / 3 /
1-BONTH
3-BONTH
6-BONTH
FINANCE PAPER PLACED DIRECTLY 2 /
1-BONTH
3-BONTH
6-BONTH
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-BONTH
6-BONTH
CDS (SECCNDABY HABKET)
1-BONTH
3-HONTH
6-BONTH
BANK PRIME LOAN
1/4/
DISCOUNT WINDOW BORROWING 1 / 5 /
U.S.GOVERNBENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-BONTH
6-BO NTH
1-YEAR
AOCTION AVERAGEJIKVESTBENT) 6 /
3-BONTB
6-BONTH
SECONDARY BARKET 2 /
3-BONTH
6-flONTH
1-YEAR
TREASURY CONSTANT BATORITIES 7 / 8 /
1-IEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-YEAB
COBPOSITE
OVER 10 Y E A B S ( L C N G - T E B B ) 9 /
CORPORATE BCNDS
BOODY'S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE fc LOCAL BONDS 1 1 /
CONVENTIONAL BOBTGAGES 1 2 /

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

MB
8

APR
9

APR
10

APB
11

APR
12

Week ending
APB
APB
12
5

BAB

8.58

8.68

8.94

6.81

8.49

8.45

8.68

8.58

8.58
8.64
8.74

8.57
8.64
8.77

8.55
8.59
8.70

8.52
8.56
8.65

8.43
8.45
8.50

8.53
8.58
8.67

8.64
8.69
8.82

8.74
8.90
9.23

8.57
8.55
8.60

8.58
8.57
8.60

8.54
8.54
8.59

8.49
8.46
8.52

8.40
8.41
8.43

8.52
8.51
8.55

8.54
8.52
8.61

8.70
8.67
8.65

8.60
8.70

8.60
8.70

8.50
8.62

6.45
8.45

8.45
8.45

8.52
8.58

8.66
8.76

8.88
9.20

8.62
8.79
9.16
10.50
8.00

8.61
8.75
9.12
10.50
8.00

8.54
8.68
9.00
10.50
8.00

8.54
8.65
8.92
10.50
8.00

8.48
8.59
8.78
10.50
8.00

8.56
8.69
9.00
10.50
8.00

8.65
8.80
9.15
10.50
8.00

8.73
9.02
9.60
10.50
8.00

8.14
8.56

8.14

8.56

8. 18
8.55

8.57
8.92
9.24

8.43
9.07

8.43
9.07

8.47
9.06

8.88
9.47

8.12
8.58
8.79

8.09
8.48
8.68

8.10
8.44
8.65

8.04
8.28
8.44

8.05
8.26
8.46

8.08
8.41
8.60

8.17
8.58
8.79

8.52
8.90
9.06

9.53
10.49
10.84
11.36
11.69
11.77
11.97
11.75

9.40
10.38
10.77
11.28
11.60
11.66
11.89
11.66

9.36
10.31
10.67
11.20
11.50
11.58
11.78
11.54

9.14
10.12
10.51
11.05
11.31
11.42
11.65
11.40

9.15
10.13
10.52
11.05
11.33
11.43
11.66
11.42

9,32
10.29
10.66
11. 19
11.49
11. 57
11.79
11.55

9.54
10.49
10.84
11.33
11.64
11.71
11.92
11.70

9.86
10.71
11.05
11.52
11.82
11.86
12.06
11.81

11.69

11.61

11.50

11.37

11.39

11.51

11.65

11.78

12.47
13.69

12.42
13.66

12.33
13.61

12.23
13.54

12.83
13.53
12.71

12.46
13.61
12.71
9.39
13.23

12.44
13.61
12.98
9.63
13.27

12.56
13.69
13.17
9.77
13. 17

9.39

13.23

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT SEEK;
HONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE BONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON CCHBERCIAL PAPER PLACED FOB FIRBS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TEBH BUSINESS LOANS.
RATE FOB THE FEDERAL RESERVE BANK OF NEW YORK.
ISSUE DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT BATDRITIES.
SOURCE: U . S . TREASUBY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT BATURITY S E R I E S .
UNWEIGHTED AVERAGE OF ALL I S S U E S OUTSTANDING OF BONDS NEITHEB DUE NO£ CALLABLE I N LESS THAN 10 YEABS,
INCLUDING SEVERAL VEBY LOW YIELDING "FLOWEB" BONDS.
ESTIBATE OF THE YIELD ON A BECENTLY-OFFEBED, A-RATED UTILITY BOND WITH A HATUBITY OF 3 0 YEABS AND CALL
PROTECTION OF 5 YEARS; FRIDAY QOOTATIONS.
BOKD BUYER INDEX, GENERAL OBLIGATION, 2 0 YEARS TO BATOBITY, B I 1 I D QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COBHITBEBTS TOM FIXED-RATE F I B S T BOBTGAGES.
SOOBCE: FHLflC.

NOTE: WEEKLY AND BONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOB STATE 6 LOCAL BONDS,
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL HORTGAGES AND A-CTILITY BONDS,
BOTH OF WHICH A£E BASED ON FfilDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
APR :

10
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/

8.45 .
8.11
8.63 :
8.75
8.99 :
11.90

4 WEEKS ENDED

1985 :
APR :
3 :
8.68
8.18
8.72
8.80
9.01
11.93

:
:
:
:
•

1985 :

APR
10

1985

MAR
:

8.57
8.31 :
8.77 :
8.89
9.13 .
12.00 :

20
8.58
8.55
8.89
9.04
9.37
12.07

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 TREASURYfS 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.