Full text of H.15 Selected Interest Rates : August 19, 1985

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FEDERAL RESERVE statistical release
H.15<91«

For immadlat* I » I U M

SELECTED
INTEREST RATES
Yields in percent per annum

AUGUST 1 9 ,

L985

Week e n d i n g

Instruments

FEDEfiAL FUNDS (EFFECTIVE) 1 /
COflHEBCIAL PAPEfi 2 / 3 /
1-HONTH
3-HONTH
6-HONTH
FINANCE PAPER PLACED DIHECTLI 2 /
1-HONTH
3-MO NTH
6-HO NTH
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-HONTH
6-HONTH
CDS (SECONDARY HARKET)
1-HONTH
3-SONTH
6 - 8 0 NTH
BANK P3INE LOAN 1 / 4 /
DISCOUNT WINDOW BORROWING 1 / 5 /
U . S . GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-HONTH
6-HONTH
1-IEAR
AUCTION AVERAGE(INVBSTHEHT) 6 /
3-HOMTH
6-HONTH
SECONDARY HAflKET 2 /
3-HONTH
6-HONTH
1-YEAR
TREASURY CONSTANT HATURITIES 7 / 8 /
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(LONG-TERH)9/
CORPORATE BONDS
HOODY«S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /

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

AUG

AUG

12

13

AUG
14

A 06
15

AU6
16

7- 85

8.02

8.75

8.53

7.65
7.66
7.71

7.70
7.70
7.72

7.79
7.74
7.73

7.56
7*51
7.46

7.57
7.56
7.56

7.63
7.60
7.72
7.75
7.89
9.50
7.50

AUG
16

AUG
9

JULY

8.22

7.88

7.92

7.88

7.78
7.72
7.70

7.80
7.76
7.76

7.74
7.72
7.72

7.75
7.76
7.82

7.58
7.56
7.57

7.80
7.57
7.57

7.75
7.56
7.56

7.60
7.49
7.49

7.66
7.54
7.53

7.76
7.67
7.65R*

7.53
7.40
7.34

7.69
7.67

7.68
7.65

7.70
7.68

7.70
7.70

7.68
7.66

7.70
7.75

7.53
7.54

7.79
7.80
7.92
9.50
7.50

7.82
7.84
8.00
9.50
7.50

7.80
7.81
7.93
9.50
7.50

7.89
7.91
8.10
9.50
7.50

7.80
7.82
7.97
9.50
7.50

7.75
7.83
8.07
9.50
7.50

7.58
7.64
7.80
9.50
7.50

7.14
7.36

7.14
7.36

7.30
7.52

7.05
7.16
7.09

7.37
7.75

7.37
7.75

7.54
7.93

7.28
7.53

7.10
7.36
7.49

7.14
7.35
7.52

7.09
7.32
7.48

7.19
7.36
7.51

7.11
7.30
7.45

7.13
7.34
7.49

7.21
7.44
7.58

7.08
7.20
7.31

8.07
8.95
9.29
9.86
10.25
10.38
10.78
10.66

8. 10
8.96
9.33
9.92
10.32
10.46
10.87
10.71

8.05
8.96
9.28
9.84
10.25
10.38
10.78
10.61

8.10
8.96
9.28
9.83
10.23
10.36
10.79
10.64

8.01
8.90
9.21
9.74
10. 13
10.26
10.71
10.54

8.07
8.95
9.28
9.84
10.24
10.37
10.79
10.63

8.15
9.06
9.46
9.98
10.38
10.53
10.36
10.69

7.86
8.77
9.18
9.70
10. 16
10.31
10.68
10.50

10.64

10.71

10.66

10.65

10,57

10.65

10.73

10.51

11.08
12.56

11.11
12.56

11.09
12.55

11.09
12.53

11.05
12.52
11.82

11.08
12.54
11.82
9.12
12.24

11.20
12.59
11.78
9.02
12.23

10.97
12.43
11.64
8.81
12.03

9.12
12.24

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING OU 1EDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAR DAY III THE MONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
BATES ON COHHEBCIAL PAPER PLACED FOR FIRHS WHOSE BOND RATING I S AA OR THE EQUIVALENT.
BATE CHARGED BY BANKS ON SHORT-TERfl BUSINESS LOANS.
RATE FOR THE FEDERAL RESERVE BANK OF NEff YORK.
AUCTION DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT HATURITIES.
SOURCE: U . S . TREASURY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT HATURITY SERIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAI 10 YEARS,
INCLUDING SEVERAL VERY LON YIELDING "FLOWER" BONDS.
ESTIHATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BOND WITH A HATURITY OF 3 0 YEARS AND CALL

PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
IK
12.

BOND BUYER INDEX, GENERAL OBLIGATION, 20 YEARS TO HATURITY, HIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COHHITHENTS FOR FIXED-RATE FIRST flOBTGAGES. SOURCE: FHLHC.

NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE & LOCAL BONDS,
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS,
BOTH OF WHICH ABE BASED ON FRIDAY FIGURES.
• • AS OF THE H . 1 5 RELEASE DATE OF JUNE 2 4 , 1 9 8 5 , TREASURY BILL AUCTION AVERAGES WILL BE REPORTED
ON THE AUCTION DATS INSTEAD OF THE ISSUE DATE.
*
THE RATE FOR AUGUST 5 WAS REVISED TO 7 . 6 6 .




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

1985 :

1985 :

AUG

AUG
7

AUG
14

14 •
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/

4 WEEKS ENDED

7.92
7.88
7.26
7.13
7.71 :
7.80
7.79 :
7.85
8.03
8.11
10.80 : 10.90

:
:
:
:
:

:

1985
JULY
24

7.83 :
7.95
7.21 :
7.01
7.73
7.50
7.79 .
7.58
8.07 .
7.82
10.86 . 10.60

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

DESCRIFTION 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, 35 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.