Full text of H.15 Selected Interest Rates : December 7, 1992

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FEDERAL RESERVE statistical release
se data are released each Monday. The availability of the release is announced on (202) 452-3206.

For immediate release
December 7, 1992

H.15(519)

SELECTED INTEREST RATES
Yields In percent per annum
Instruments
Federal funds (effective) 1 2 3
Commercial paper 3 4 5
1-month
3-month
6-month
Finance paper placed directly 3 4 6
1-month
3-month
6-month
Bankers acceptances (top rated) 3 4 7
3-month
6-month
CDs (secondary market) •'3
1-month
3-month
6-month
Eurodollar deposits (London) 3 9
1-month
3-month
6-month
Bank prime l o a n 2 3 1 0
Discount window borrowing 2 11
U.S. government securities
Treasury bills
Auction average 3 4 1 2
3-month
6-month
1-year
Auction average (investment) 12
3-month
6-month
Secondary market 3 4
3-month
6 month
1-year
Treasury constant maturities 13
1-year
2-year
3-year
5-year
7-year
10-year
30-year
Composite
Over 10 years (long-term) 14
Corporate bonds
Moody's seasoned

AAA
BAA
A-utility 15
State & local bonds 16
Conventional mortgages

1992
Dec
1

1992
Dec
2

1992
Dec
3

1992
Dec
4

Dec
4

Nov
27

3.45

3.17

2.99

3.00

2.86

3.37

3.10

3.09

3.28
3.88
3.87

3.30
3.89
3.88

4.03
3.87
3.86

3.97
3.85
3.84

3.94
3.83
3.83

3.70
3.86
3.86

3.22
3.79
3.79

3.25
3.66
3.67

3.22
3.76
3.66

3.23
3.79
3.67

3.96
3.75
3.73

3.95
3.71
3.68

3.93
3.70
3.66

3.66
3.74
3.68

3.19
3.70
3.64

3.20
3.59
3.56

3.70
3.70

3.69
3.69

3.65
3.65

3.64
3.64

3.57
3 57

3.65
3.65

3.60
3.60

3.51
3.51

4.04
3.80
3.81

4.00
3.79
3.80

3.97
3.70
3.72

3.96
3.69
3.71

3.90
3.66
3.69

3.97
3.73
3.75

3.33
3.67
3.69

3.23
3.58
3.60

4.13
3.88
3.88
6.00
3.00

4.13
3.88
3.88
6.00
3.00

4.06
3.81
3.81
6.00
3.00

4.00
3.75
3.75
6.00
3.00

3.94
3.69
3.75
6.00
3.00

4.05
3.80
3.81
6.00
3.00

3.30
3.78
3.80
6.00
3.00

3.20
3.67
3.70
6.00
3.00

3.31
3.46

3.31
3.46

3.27
3.45

3.14
3.35
3.61

3.39
3.57

3.39
3.57

3.34
3.56

3.21
3.46

1992
Nov

3.27
3.48
3.66

3.33
3.48
3.68

3.34
3.47
3.66

3.30
3.45
3.65

3.25
3.37
3.56

3.30
3.45
3.64

3.24
3.43
3.60

3.13
3.34
3.52

3.83
4.79
5.36
6.23
6.61
6.95
7.59

3.86
4.81
5.39
6.24
6.61
6.94
7.57

3.84
4.81
5.39
6.23
6.61
6.93
7.57

3.83
4.78
5.36
6.20
6.59
6.91
7.57

3.73
4.70
5.27
6.11
6.51
6.84
7.50

3.82
4.78
5.35
6.20
6.59
6.91
7.56

3.76
4.69
5.24
6.12
6.52
6.86
7.56

3.68
4.58
5.14
6.04
6.49
6.87
7.61

7.46

7.46

7.45

7.45

7.38

7.44

7.41

7.43

8.08
8.95

8.06
8.93

8.07
8.93

8.07
8.92

8.04
8.87
8.35

8.06
8.92
8.35
6.28
8.34

8.06
8.91
8.48
6.26
8.29

8.10
8.96
8.51

6.28
17

See overleaf for footnotes




Week Ending
1992
Nov
30

8.34

6.36
8.31

FOOTNOTES
1.
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4.
5.
6.
7.
3.
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10.
11.
12.
13.
14.
15.
16.
17.

The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers.
Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures
include each calendar day in the month.
Annualized using a 360-day year or bank interest.
Quoted on a discount basis.
An average of offering rates on commercial paper placed by several leading dealers for firms whose bond rating
is AA or the equivalent.
An average of offering rates on paper directly placed by finance companies.
Representative closing yields for acceptances of the highest rated money center banks.
An average of dealer offering rates on nationally tradec certificates of deposit.
Bid rates for Eurodollar deposits at 11 a.m. London tima.
One of several base rates used by banks to price short-term business loans.
Rate for the Federal Reserve Bank of New York.
Auction date for daily data; weekly and monthly averages computed on an issue-date basis.
Yields on actively traded issues adjusted to constant maturities. Source: L.S. Treasury
Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
Estimate of the yield on a recently offered, A-rated utility bond with a maturity oi 30 years and call protection of
5 years: Friday quotations.
Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC.

Note: Weekly and T r : - v 'igures are averages of business cays unless otherwise noted.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Yields on Trsssury securities at constant maturity1 are interpolated by the U.S. Treasury from the daily yield curve. This
curve, which reiates 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 calculatea from composites of quotations reported by five leading U.S. Government securities dealers to the Federal Reserve Bank ot New YorK. The constant
maturity yield values are read from the yield curve at fixed maturities, currently 1,2.3,5,7, 10, and 30 years. This method
provides a yield for a 10-year maturity, for example, even if nc outstanding security has exactly 10 years remaining to
maturity.