Full text of H.15 Selected Interest Rates : April 22, 1985

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FEDERAL RESERVE statistical release
For Immediate
APHIL 22,

H.18<S1«

1985

SELECTED INTEREST RATES
Yields In percent per annum
Inetruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COMBEBCIAL PAPER 2 / 3 /
1-BONTH
3-BONTH
6-BONTH
FINANCE PAPER PLACED DIBECTLY 2 /
1-BOMTH
3-HONTH
6-flONTH
BAIKEBS ACCEPTANCES (TOP BATED) 2 /
3-BONTH
6-BOMTH
CDS (SECONDABY BARKE1)
1-BONTH
3-HONTH
6-BO NTH
BANK PHIBE LOAN
1/4/
DISCOONT WINDOW BOBBOWING 1 / 5 /
O.S. GOVERBBENI SEC0BI1IES
TREASUBI BILLS
AUCTION AVEBAGE 2 / 6 /
3-BO NT B
6-BONTH
1-YEAB
AUCTION AVERAGE (IUVBSTBEB?)
6/
3-BONTH
6-BONTH
SECONDABT BARRET 2 /
3 - BONTB
6-BOBTfi
1-YEAR
TBEASUBY CONSTANT flATOBITIES 7 / 8 /
1-YEAfi
2-TEAB
3-YEAB
5-YBAB
7-IEAB
10-YEAR
20-YEAB
30-TEAR
COBPOS1TE
OVEB 10 YEABS(LOBG-TEBfl)9/
COBPOBATE BONDS
BOODY'S SEASONED
AAA
BAA
A-0T1LITT 1 0 /
STATE 6 LOCAL BONDS 1 1 /
CONVENTIONAL BOETGAGES 1 2 /
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

Week ending
APB
12

APB
15

APB
16

APR
17

APR
18

APR
19

19

8.57

8.30

6.09

7.84

7.60

8.46

8.45

8.58

8.45
8.45
8.51

8.37
8.40
8.44

8.25
8.27
8.32

8.07
8.11
8.14

7.99
8.07
8. M

8.23
8.26
8.31

8.53
8.58
8.67

8.74
8.90
9.23

8.44
8.36
8.34

8.36
6.32
8.33

8.27
8.21
8.20

7.92
7.89
8.00

7.69
7.90
7.92

8. 18
8.14
8. 16

8.52
8.51
8.55

8.70
8.67
8.65

8.42
8.43

8.25
8.25

8.25
8.30

8.08
8.10

8.10
8.15

8.22
8.25

8.52
8.58

8.88
9.20

8.49
8.57
8.79
10.50
8.00

8.45
8.49
8.61
10.50
8.00

8.37
8.44
8.53
10.50
8.00

8.21
8.27
8.38
10.50
8.00

8.05
8.19
8.37
10.50
8.00

8.31
8.39
8.54
10.50
8.00

8.56
8.69
9.00
10.50
8.00

8.73
9.02
9.60
10.50
8.00

BAI

8.0«
8.27
8.44

8.04
8.27
8.44

8. 14
8.56

8.57
8.92
9.24

8.32
8.75

8.32
8.75

8.43
9.07

8.88
9.47

7.86
8.06
8.27

8.08
8.41
8.60

8.52
8.90
9.06

8.07
8.27
8.45

7.93
8.06
6.28

7.79
8.11
8.32

7.71
7.89
8.11

9.15
10.09
10.49
11.02
11.29
11.37
11.61
11,37

8.95
9.86
10.25
19.80
11.14
11.25
11.52
11.30

9.01
9.93
10.33
10.86
11.19
11.29
11.56
11.33

8.77
9.73
10.17
10.69
11.05
11.13
11.41
11.21

8.86
9.81
10.17
10.69
11.06
11.16
11.46
11.26

8.95
9.88
10.28
10.81
11.15
11.24
11.51
11.29

9.32
10.29
10.66
11.19
11.49
11.57
11.79
11.55

9.86
10.71
11.05
11.52
11.82
11.86
12.06
11.81

11,35

11.25

11.29

11.17

11.20

11.25

11.51

11.78

12. 19
13.53

12.06
13.47

12.12
13.46

12.03
13.36

12.02
13.35
12.53

12.09
13.44
12.53
9.25
13. 16

12.34R*
13.61
12.71
9.39
13.23

12.56
13.69
13.17
9.7"
13.11

7.79
7.98
8. 19

9.25
13.16

WEEKLY FIGURES ABE AVEBAGES OF 7 CALENDAR DAIS ENDING ON IEDNESDAY OF TBE COBBENT IEEK;
HONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE HONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
RATES OK CCHBERCIAL PAPER PLACED FOB FIRBS WHOSE BOND FATING I S AA OB THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHOBT-TEBB BUSINESS LOANS.
BATE FOR TBE FEDERAL RESERVE BANK OP NEM YORK.
ISSUE DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT BATUBITIES.
SOUBCE: U . S . TBEASOBY.
5 £ £ BEVEBSE FOR A DESCRIPTON OF THE CO1STANT BAT0BITY S E B I E S .
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOB CALLABLE IN LESS THAN 10 YEAR:
INCLUDING SEVERAL VEBY LOW YIELDING "FLGHEfl" BONDS.
ESTIBATE OF THE YIELD ON A RECENTLY-OFFERED, A-fiATED UTILITY BOND WITH A BATUEITY OF 3 0 IBARS AID C
PROTECTION OF 5 YEABS; FBIDAY QUOTATIONS.
BOND BUYER INDEX, GENEBAL OBLIGATION, 2 0 YEABS TO BATOBITT, HUED QUALITY; THURSDAY QUOTATIONS.
CONTBACT INTEREST RATES ON COBBITBENtS FOB FIXED-RATE FIRST HOBTGAGES.
SOUBCE: FHLBC.

NOTE: kEEKLY AND BONTHLY FIGUBES ABE AVEBAGES OF DAILY BATES, EXCEPT FOB STATE & LOCAL BONDS,
•UICH ABE BASED ON THUBSDAY FIGUBES, AND CONVENTIONAL HOBTGAGES AND A-OTILITI BONDS,
BOTH OF 8HICH ABE BASEC ON FBIDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
APR :
17 :
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/

8.46
7.98
8.43
8.55
8.71
11.60

,
:
:
;

4 WEEKS ENDED

1985 :
APR .
10 :

1985 :
APR :
17 :

MAR

:
:
:
:
:
:

8.4? :
8.17 :
8.63 :
8.74 :
8.98 :
11.86 :

8.57
8.55
8.92
9.04
9.36
12.08

8.45
8.11
8.63
8.75
8.99
11.90

1985
27

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.