Full text of H.15 Selected Interest Rates : August 24, 1987

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fc—

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.

For Immediate release

H.15 (519)

SELECTED INTEREST RATES

AUGUST 24, 1987

Yields In percent per annum

1987
JULY

1987
AUG
17

1987
AUG
18

1987
AUG
19

1987
AUG
20

1987
AUG
21

6.91
FEDERAL FUNDS (EFFECTIVE) 1/
COMMERCIAL PAPER 2/3/
6.64
1-MONTH
6.68
3-MONTH
6.75
6-MONTH
FINANCE PAPER PLACED DIRECTLY 2/
6.51
1-MONTH
6.30
3-MONTH
6.29
6-MONTH
BANKERS ACCEPTANCES (TOP RATED) 2/
6.60
3-MONTH
6.63
6-MONTH
CDS (SECONDARY MARKET)
6.59
1-MONTH
6.69
3-MONTH
6.93
6-MONTH
8.25
BANK PRIME LOAN 1/4/
5.50
DISCOUNT WINDOW BORROWING 1/5/
U.S.GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2/ 6/
5.97
3-MONTH
6.12
6-MONTH
1-YEAR
AUCTION AVERAGE(INVESTMENT) 6/
6.16
3-MONTH
6.42
6-MONTH
SECONDARY MARKET 2/
5.98
3-MONTH
6.03
6-MONTH
6.46
1-YEAR
TREASURY CONSTANT MATURITIES 7/8/
6.93
1-YEAR
7.62
2-YEAR
7.86
3-YEAR
8.17
5-YEAR
8.41
7-YEAR
8.56
10-YEAR
8.77
30-YEAR
COMPOSITE
8.76
OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDS
MOODY*S SEASONED
9.64
AAA
10.71
BAA
A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

6.70

6.66

6.63

6.62

6.74

6.58

6.58

6.62
6.69
6.77

6.60
6.68
6.77

6.58
6.67
6.78

6.56
6.65
6.78

6.60
6.67
6.77

6.59
6.68
6.76

6.57
6.65
6.72

6.59
6.52
6.35

6.53
6.44
6.35

6.55
6.44
6.35

6.39
6.28
6.29

6.51
6.40
6.33

6.53
6.46
6.32

6.53
6.48
6.35

6.62
6.73

6.62
6.72

6.62
6.75

6.60
6.76

6.61
6.72

6.58
6.67

6.59
6.65

6.62
6.72
6.96
8.25
5.50

6.63
6.74
6.98
8.25
5.50

6.60
6.75
7.02
8.25
5.50

6.60
6.72
7.02
8.25
5.50

6.61
6.72
6.98
8.25
5! 50

6.58
6.70
6.96
8.25
5.50

6.60
6.70
6.87
8.25
5.50

5.97
6.12

5.93
6.14

5.78
5.86
6.22

6.16
6.42

6.12
6.44

5.9 J
6.13

Instruments

2.
3.
4.
5.
6.
7.
8.

10.

This
week

Last
week

6.02
6.18
6.50

6.04
6.20
6.55

6.11
6.24
6.58

6.10
6.24
6.55

6.05
6.18
6.53

5.94
6.05
6.47

5.69
5.76
6.24

6.98
7.71
7.97
8.31
8.57
8.73
8.95

7.04
7.76
8.02
8.34
8.60
8.77
8.98

7.07
7.77
8.02
8.35
8.58
8.74
8.94

7.04
7.79
8.05
8.35
8.60
8.77
8.97

7.01
7.73
7.98
8.30
8.55
8.71
8.92

6.93
7.67
7.93
8.24
8.51
8.68
8.90

6.68
7.44
7.74
8.01
8.27
8.45
8.64

8.94

8.99

8.95

8.96

8.92

8.88

8.70

9.70
10.77

9.72
10.79

9.68
10.77

9.66
10.79
10.34

9.68

9.63
10.76
10.24
7.79
10.34*

9.42
10.61
10.17
7.72
10.28

7.81
10.30

10 34
7^1
10.30

ENDING
INCLUDE F EACH E CALENDAR E DAY E IN°THE MONTH™* ^
° N W E D N E S D A Y 0 F T H E CURRENT NEEK; MONTHLY FIGURES
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
tnuiVALLN!.
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
AUCTION DATE. AUCTION DATE FOR DAILY DATA; WEEK AND MONTH AVERAGES ON ISSUE-DATE BASIS
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES. SOURCE? U.S TREASURY
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATURITY SERIES. THE 20-YEAR CONSTANT MATURITY YIELD MAS
DISCONTINUED AT THE END OF 1986 BECAUSE THE TREASURY NO LONGER ISSUES A 20-YEAR BOND

^EKDAVERA£E J V ^ I S ? ^ !

8

^

B0NDS NEITHER DUE N0R CALLABLE l S T

THAN

UTIL Y B ND N I AMATURITY ™F 50 YEARS»

" °

™

°

11. BOND BUYER INDEX, GEN:RAL"6*BLIGAT IONl~20 YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS
12. CONTRACT INTEREST RA.ES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE: FHLMC
NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE & LOCAL BONDS WHICH
« A C P H nu Tu,,ocn.v «„.,»« >m CONVENTIONAL MORTGAGES AND A-UTILITY BONDS? BOTH OF WHICH
 Conventional mortgage rate tor week


endiag

st ?A was rp*'

SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1987 :

AUG
19
FEDERAL
3-MONTH
3-MONTH
3-MONTH
3-MONTH

FUNDS (EFFECTIVE) 1/
TREASURY BILL 2/
COMMERCIAL PAPER 2/
CD (SECONDARY MARKET)
EURODOLLAR 3/

6.74
5.99
6.68
6.71
6.86

4 WEEKS ENDED

1987 :
AUG .

12
6.58
5.88
6.69
6.72
6.83

:
:
:
:

1987 :

1987

AUG
19

JUL

6.68
5.91
6.68
6.72
6.88

:

22

:
:
:

6.59
5.64
6.71
6.75
6.92

:

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.

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.