Full text of H.15 Selected Interest Rates : February 24, 1987
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£jg^&. 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. H.15 (519) For Immediate release SELECTED INTEREST RATES FEBRUARY 24, 1987 Yields In percent per annum Instruments FEDERAL FUNDS (EFFECTIVE) 1/ COMMERCIAL PAPER 2/3/ 1-MONTH 3-MONTH 6-MONTH FINANCE PAPER PLACED DIRECTLY 2/ 1-MONTH 3-MONTH 6-MONTH BANKERS ACCEPTANCES (TOP RATED) 2/ 3-MONTH 6-MONTH CDS (SECONDARY MARKET) 1-MONTH 3-MONTH 6-MONTH BANK PRIME LOAN \/<\/ DISCOUNT WINDOW BORROWING 1/5/ U.S.GOVERNMENT SECURITIES TREASURY BILLS AUCTION AVERAGE 1/ 6/ 3-MONTH 6-MONTH 1-YEAR AUCTION AVERAGE(INVESTMENT) 6/ 3-MONTH 6-MONTH SECONDARY MARKET 2/ 3-MONTH 6-MONTH 1-YEAR TREASURY CONSTANT MATURITIES 7/8/ 1-YEAR 2-YEAR 3-YEAR 5-YEAR 7-YEAR 10-YEAR 30-YEAR COMPOSITE OVER 10 YEARS(L0NG-TERM)9/ CORPORATE BONDS MOODY«S SEASONED AAA BAA A-UTILITY 10/ STATE & LOCAL BONDS 11/ CONVENTIONAL MORTGAGES 12/ 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 1987 JAN 16 1987 FEB 17 1987 FEB 18 1987 FEB 19 1987 FEB 20 M 6.59 6.25 6.00 6.00 6.21 6.14 6.43 6.31 6.22 6.17 6.27 6.20 6.14 6.16 6.12 6,04 6.07 6.03 5.98 6.20 6.14 6.08 6.20 6.11 6.04 5.95 5.84 5.76 K 6.21 5.98 5.89 6.11 5.93 5.90 6.08 5.94 5.91 5.84 5.83 5.79 6.06 5.92 5.87 6.14 5.94 5.84 5.86 5.59 5.60 E 6.18 6.10 6.11 6.06 5.95 5.89 5.97 5.88 6.05 5.98 6 .06 6.00 5.74 5.65 6.29 6.30 6.30 7.50 5.50 6.28 6.26 6.26 7.50 5.50 6.15 6.16 6.15 7.50 5.50 . 6.10 6.10 6.10 7.50 5.50 6.21 6.21 6.20 7.50 5.50 6.14 6.13 6.14 7 .50 5.50 5.94 5.87 5.85 7 .50 5.50 5.66 5.70 5.66 5.70 5.74 5.72 5.69 5.45 5.47 5.44 r\ U 5.82 5.95 5.82 5.95 5.88 5.94 5.60 5.71 s 5.72 5.73 5.74 5.60 5.63 5.68 5.45 5.39 5.57 5.43 5.44 5.56 5.55 5.55 5.64 5.75 5.75 5.71 5.43 5.44 5.46 6.09 6.48 6.64 6.87 7.14 7.33 7.63 6.02 6.43 6.59 6.84 7.11 7.30 7.60 5.90 6.33 6.53 6.76 7.04 7.23 7.55 5.89 6.33 6.51 6.78 7.05 7.24 7.55 5.98 6.39 6.57 6.81 7.09 7.28 7.58 6.05 6.48 6.65 6.88 7.13 7.31 7.59 7.76 7.73 7.66 7.67 7.71 7.76 5.78 6.23 6 .41 6.64 6.92 7 .08 7 .39 7.60 8.42 9.68 8.42 9.68 8.40 9.66 8.39 9.67 8.78 8.41 9.67 8.78 6.62 9.14 8.39r 9.66r 8.88r 6 .67 9.12 8.36 9.72 8.92 6.61 9.23 1987 FEB A R Tj. c L E TV U 6.62 9.14 This wseK Last week WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK; MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE MONTH. 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. 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 WAS DISCONTINUED AT THE END OF 1986 BECAUSE THE TREASURY NO LONGER ISSUES A 20-YEAR BOND. UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS, INCLUDING ONE VERY LOW YIELDING "FLOWER11 BOND. 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, MIXED 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 & LOCAL BONDS, WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS, BOTH OF WHICH ARE BASED ON FRIDAY FIGURES. r=revised *AAA daily rate for February 13 was revised to 8.39 and the BAA daily rate for February 13 was revised to 9.67. SELECTED INTEREST RATES YIELDS IN PERCENT PER ANNUM WEEK ENDING WEDNESDAY WEEK ENDED FEDERAL 3-MONTH 3-MONTH 3-MONTH 3-MONTH FUNDS (EFFECTIVE) 1/ TREASURY BILL 2/ COMMERCIAL PAPER 2/ CD (SECONDARY MARKET) EURODOLLAR 3/ 4 WEEKS ENDED 1987 . FEB . 18 • 1987 : FEB : 11 1987 : FEB : 18 : 1987 JAN 21 : : . : • 6.14 • 5.73 6.03 • 6.05 : 6.24 : 6.17 5.61 5.98 6.02 6.23 6.44 .42 .85 .87 6.10 6.21 5.67 6.18 6.23 6.44 : : : : : 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.