Full text of H.15 Selected Interest Rates : August 6, 1985

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FEDERAL RESERVE statistical release
For immediate release

H.15 (519)

AUGUST

SELECTED INTEREST RATES
Yields In percent per annum

Instruments

JULY
29

FEDERAL FUNDS (EFFECTIVE) 1 /
7.60
COMMERCIAL PAPEfi 2 / 3 /
1-MONTH
7.69
7.73
3-IIO NTH
6-HO NTH
7.82
FINANCE PAPER PLACED DIBECTLY 2 /
1-HONTH
7.63
3-HOHTH
7.54
7.55
6-HONTH
BANKERS ACCEPTANCES {TOP RATED) 2 /
3 - I1O NTH
7.70
6-MONTH
7.83
CDS (SECONDARY MARKET)
1-HO NTH
7.73
7.81
3-HONTH
8.08
6-HONTH
9.50
BANK PRIME LOA!1
1/4/
DISCOUNT HIBDOS BOBBOUING 1 / 5 /
7.50
U . S . GOVERNMENT SECUKITIES
TREASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-HONTH
7.23
6-HONTH
7.40
1-YEAR
AUCTION AVERAGE (INVESTHENT) 6>
7.47
3-HONTH
7.79
6-HONTH
SECONDARY 3ABKET 2 /
3-HONTH
7.25
7.41
i-HONTH
7.51
1-YEAB
TREASURY CONSTANT HATURITIRS 7 / 8 /
1-YBAB
8.07
9.03
2-YEAR
9.50
3-YEAR
10.02
5-YEAR
10.50
7-YEAB
10.67
10-YEAR
11.00
20-YEAR
10.79
30-YEAR
COMPOSITE
OVER 10 YEA»S(L0NG-TE5H)9/
10.83
CORPOBATE BONDS
HOODY«S SEASONED
AAA
11.20
12.59
BAA
A-UTILITY 1 0 /
STATE 5 LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /

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

6", 1985

JULY
30

JULY
31

AUG
1

AUG
2

Week ending
AUi*
JULY
26
2

JULY

7.57

8.61

8.26

7.94

7.64

7.88

7.88

7.69
7.74
7.83

7.76
7.79
7.88

7.82
7.81
7.89

7.77
7.00
7.88

7.75
7.77
7.86

7.71
7.72
7.76

7.58
7.56
7.57

7.61
7.54
7.54

7.66
7.63
7.63

7.80
7.69
7.64

7.75
7.65
7.65

7.69
7.61
7.60

7.64
7.55
7.49

7.53
7.40
7.34

7.73
7.85

7.72
7.82

7.70
7.80

7.75
7.85

7.72
7.83

7.71
7.75

7.53
7,54

7.69
7.77
8.01
9.50
7.50

7.76
7.87
8.11
9.50
7.50

7.74
7.83
8.02
9.50
7.50

7.83
7.88
8. 13
9.50
7.50

7.75
7.83
8.07
9.50
7.50

7.69
7.76
7.98
9.50
7.50

7.58
7.64
7.80
9.50
7.50

7.23
7.40

7. 23
7.35

7.05
7.16

7.47
7.79

7.47
7.74

7.28
7.53
7.08
7.20
7.31

%

7.09

7.28
7.45
7.57

7.28
7.42
7.55

8. 14
9.04
9.51
10.02
10.50
10.66
10.99
10.78

7.27
7.44
7.55

7.31
7.49
7.67

7.28
7.44
7.57

7.22
7.35
7.47

8. 12
9.01
9.47
9.98
10.41
10.57
10.89
10.70

8.12
9.04
9.47
9.95
10.36
10.51
10.81
10.62

8.23
9.15
9.60
10.09
10.49
10.66
10.95
10-77

8.14
9.05
9.51
10.01
10.45
10.61
10.93
10.73

8.03
8.97
9.41
9.91
10.36
10.51
10.87
10.64

7.86
8.77
9. 18
9.70
10. 16
10.31
10.68
10.50

10.83

10.75

10.69

10.81

10.78

10.69

10.51

11.25
12.60

11.23
12.58

11. 17
12.55

11.22
12.57
11.83

11.21
12.58
11.83
9.01
12.17

11.07
12.45
11.81
8.87
12.03

10.97
12.43
11.64
8.81
12.03

9.01
12.17

WEEKLY FIGURES ABE AVERAGES CF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEKMONTHLY FIGUBES INCLUDE EACH CALENDAR DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS WHOSE BOND RATING I S AA OB THE EQUIVALENT
BATE CUkhGKD JiY ttAUKS ON SHO*T~TEEM BUSINESS LOANS.
RATE FOR THE FEDERAL RESEBVE BANK OF NEW YORK.
AUCTION DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES.
SOURCE! U.S. TREASURY.
SEE REVERSE FOK A DESCBIPTON OF THE CONSTANT MATURITY SERIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS
INCLUDING SEVERAL VERY LOW YIELDING "FLOWER- BONDS.
I**K5,
ESTIMATE OF THE YIELD ON A RECENTLY-OFFERED. A-RATED UTILITY BOND WITH A MATUfilTY OF 30
AND
CALL
PROTECTION OF 5 YEABS; FRIDAY QUOTATIONS.
n a i u n x n ur JU
BOND BUYER INDEX. GENEfiAL OBLIGATION, 20 YEARS TO MATURITY. MIXED QUALIIY; THURSDAY QUOTATIOHS
CONTRACT INTEiiiSST BATES ON COMMITMENTS FOB FIXED-BATE FIBST HOKTGAGES.
SOURCE: FHLHC.

NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES. EXCEPT FOB STATE C LOCAL BONDS
WHICH ARE BASED ON THURSDAY FIGURES. AND CONVENTIONAL MORTGAGES AND A-UTILITX BONDS. *
BOTH OF WHICH ARE BASED ON FRIDAY FIGURES.
'
• * AS OF THE H . 1 5 fcfcLSASE DATi, OF JUNE 2 4 , 1 9 8 5 . TREASURY BILL AUCTION AVERAGES WILL BE REPORTED
ON THE AUCTION DA1E INSTEAD OF THE ISSUE DATE.




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

31
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/

7.64
7.23
7.72
7.78 :
8.13
10.95

1985 :
JULY

24

4 WEEKS ENDED
1985 :
JULY

1985
JULY

31

7.88
7.84
7.21 :
7.09
7.68
7.57 :
7.75 :
7.64 :
8.01 :
7.92
10.78
10.69 :

10
7.68
6.90
7.37
7.46
7.66
10.56

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.