Full text of H.15 Selected Interest Rates : April 8, 1985

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FEDERAL RESERVE statistical release
H.15

For immediate release

(519)

APRIL

SELECTED INTEREST RATES
Yields in percent per annum

8 # 1985

APB
1

APR
2

APB
3

APB
4

APS
5

Week ending
BAB
APB
5
29

MAB

8.83
FEDERAL FUNDS (EFFECTIVE) 1 /
COMMERCIAL PAPEB 2 / 3 /
8.69
1-MONTH
8.71
3-HONTH
8.87
6-HONTH
FINANCE PAPEB PLACED DIBBCTLT 2 /
8.5*
1-BONTH
8.47
3-BONTH
8.61
6-MO NTH
BANKERS ACCEPTANCES (TOP BATED) 2 /
8.65
3-BO NTH
8.75
6-MONTH
CDS (SECONDARY HARKET)
1-HONTH
8.66
8.78
3-MONTH
9.11
6-HONTH
BANK PRIME LOAN
1/4/
10.50
DISCOONT WINDOW BORROWING 1 / 5 /
8.00
U. S. GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-BONTH
6-8ONTH
1-YEAR
AUCTION AVEBAGE(INVBSTflENT) 6 /
3-BONTB
6-HONTH
SECONDARY MARKET 2 /
3-BONTH
8.15
8,55
6-flONTH
8.76
1-YEAB
TREASURY CONSTANT BATURITIES 7 / 8 /
9.51
1-YEAR
2-YEAB
10.45
3-YEAB
10.81

8.79

8.49

8.56

8. 14

8.68

8.38

8.58

8.69
8.72
8.84

8.61
8.67
8.80

8.58
8.65
8.78

M

8.64
8.69
8.82

8.67
8.75
9.02

8.74
8.90
9.23

8.54
8.47
8.61

8.52
8.53
8.61

8.55
8.56
8.61

8.53
8.55
8.60

8.54
8.52
8.61

8.61
8.60
8.67

8.70
8.67
8.65

8.70
8.80

8.65
8.75

8.65
8.75

K

8.66
8.76

8.68
8.91

8.88
9.20

8.69
8.85
9.19
10.50
8.00

8.62
8.78
9.14
10.50
8.00

8.63
8.79
9.16
10.50
8.00

8.65
8.80
9.15
10.50
8.00

8.64
8.82
9.31
10.50
8.00

8.73
9.02
9.60
10.50
8.00

8. 18
8.55

8.41
8.86

8.57
8.92
9.24

8.47
9.06

8.71
9.40

8.88
9.47

8.17
8.58
8.79

8.29
8.71
8.90

8.52
8.' 0
9.06

9.54
10.49
10.84
11.33
11.64
11.71
11.92
11.70

9.68
10.59
10.93
11.43
11.73
11.77
11.97
11.73

9.86
10.71
11.05
11.52
11.82
11.86
12.06
11.81

Instruments

5-YEAB
7-YEAB
10-YEAH
20-YEAR
30-YEAB
COMPOSITE
OVEB 10 YEABS(LONG~TERB)9/
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE S LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /

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

A

A

R

8*18
8.55

E
T

10.50
8.00

C

L

8.47
9.06
0

8.22
8.58
8.79

8.16
8.59
8.80

8.13
8.61
8.81

11.28
11.57
11.66
11.89
11.65

9.54
10.48
10.83
11.33
11.64
11.70
11.92
11.68

9.55
10.49
10.83
11.34
11.65
11.73
11.93
11.71

9.54
10.53
10.87
11.35
11.70
11.75
11.95
11.74

11.61

11.64

11.66

11.69

11.65

11.70

11.78

12.40
13.65

12.45
13.61

12.45
13.60

12.47
13.59

12.44
13.61
12.98
9.63
13.27

12.50
13.68
13.06
9.75
13.29

12.56
13.69
13. 17
9.77
13.17

S

E

D

12.98
9.63
13.27

WEEKLY FIG0BES ABE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAB DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPBB PLACED FOB FIRMS WHOSE BOND BATING IS AA OB THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHOBT-TERB BUSINESS LOANS.
HATE FOR THE FEDERAL RESERVE BANK OF NEW YOBK.
ISSUE DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES. SOUBCE: U.S. TBEASUBY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATURITY SERIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DOE NOR CALLABLE IN LESS THAN 10 YEARS,
INCLUDING SEVERAL VERY LOW YIELDING "FLOWER" BONDS.
ESTIMATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BUYER INDEX, GENERAL OBLIGATION, 20 YEARS TO MATURITY, MIIED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE: FHLMC.

NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE 5 LOCAL BONDS,
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-0TILITY BONDS,
BOTH OF WHICH ARE BASED ON FRIDAY FIGURES.



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

3
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/

8.68
8.18
8.72 :
8.80
9.01 :
11.93

4 WEEKS> ENDED

1985 :
MAR :
27 :
8.38
8.41
8.76
8.86
9.19
12.01

1985 :

APR
3

1985

MAR
:

8.58
•
:
8.43 :
:
8.85 :
:
8.96 :
:
9.22 :
•• 12.03 :

13
8.53
8.46
8.77
8.92
9.28
11.94

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.