Full text of H.15 Selected Interest Rates : February 25, 1985

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FEDERAL RESERVE statistical release
H.15 (519)

For Immediate release
FEBBOABY 2 5 , 1985

SELECTED
INTEREST RATES
Yields In percent per annum
Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COMMERCIAL PAPER 2 / 3 /
1-BONTH
3-HONTH
6-HONTH
FINANCE PAPER PLACED DIBECTLY 2 /
1-HONTH
3-BONTH
6-HO NTH
BANKERS ACCEPTANCES (TOP RATED) 2 /
3-BO NTH
6-BONTH
CDS (SECONDARY BABKET)
1-BONTH
3-BONTH
6-HONTH
BANK PRIHE LOAN
1/4/
DISCOUNT WINDOW BORROWING 1 / 5 /
U.S.GOVEBNMBNT SECURITIES
TREASURY B I L L S
AUCTION AVERAGE 2 / 6 /
3-HONTH
6-HO NTH
1-tfBAH
AUCTION AVERAGE (IHVESTHENT) 6 /
3-BONTH
6-BONTB
SECONDARY MARKET 2 /
3-SO NTH
6 - HO NTH
1-YEAB
TREASURY CONSTANT BA1URITIES 7 / 8 /
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-IEAB
COMPOSITE
OVER 10 Y£ABS(LCUG-I£BM)9/
CORPORATE BONDS
MOODYfS SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /
1.
2.
3.
4.
5.
6.
7.
3.
9.
10.
11.
12.
NOTE-

FEB
18

FEB
19

FEB
20

FEB
21

FEB
22

Week ending
FEB
FEB
15
22

M

8.63

8.67

8.67

8.50

8.57

8.44

8.35

A

8.48
8.51
8.62

8.49
8.55
8.65

8.52
8.64
8.82

8.50
8.67
8.86

8.50
8.59
8.74

8.46
8.51
6.63

7.99
8.03
8.15

R

8.48
8.28
8.23

8.41
8.22
8.23

8.38
8.29
8.30

8.39
8.34
8.36

8.42
8.28
8.28

8.43
8.28
8. 18

7.95
7.81
7.82

8.50
8.60

8.60
8.65

8.80
8.90

8.75
9.00

8.66
8.79

8.48
8.60

8.00
8.11

8.47
8.66
8.98
10.50
8.00

8.49
8.70
9.03
10.50
8.00

8.6?
8.91
9.35
10.50
8.00

8.58
8.82
9.27
10.50

8.54
8.77
9.16
10.50
8.00

8.47
8.64
8.95

8.05
8.14
8.45
10.61
8.00

JAN

K

E

T

L

n
\j

e

8.CO

10.50
8.00

8.15
8.25
8.46

8.15
8.25
8.46

8.20
8.28

7.76
8.03
8.39

8.44
8.73

8.44
8.73

8.49
8.76

8.03
6.49

8.17
8.26
8.43

8.24
8.35
8.52

8.43
8.53
8.66

8.39
8.54
8.69

8.31
8.42
8.58

8.21
8.29
8.47

7.76
8.00
8,33

9.13
10.01
10.37
10.95
11.27
11.37
11.61
11.35

9.24
10.13
10.47
11.09
11.43
11.52
11.76
11.50

9.40
10.29
10.64
11.29
11,58
11.64
11.86
11.58

9.44
10.34
10.74
11.35
11.71
11.76
11.99
11.71

9.30
10.19
10.56
11.17
11.50
11.57
11.81
11.54

9.19
10.02
10.40
11.00
11.30
11.37
11.58
11.32

9.02
9.93
10.43
10.93
11.27
11.38
11.58
11.45

11. 35

1L47

1K58

11.65

11.51

11. 19

11. 15

12.02
13. 14

12.16
13,18

12.29
13.25

12.38
13.26
12.95

12«21
13.21
12.95
9.71
12*94

12.01
13.13
12.60
9.64
12.90

12.08
13.26
12.78
9,51
13«08

E

D

9.71

12.94

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CUBBE8T WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
RATES ON COMMEBCIAL PAPER PLACED FOR FIBMS WHOSE' BOND RATING I S AA OE THE EQUIVALENT.
RATE CHARGED BY BASKS OH SHORT-TERM BUSINESS LOANS.
RATE FOR THE FEDEBAL BESERVE BANK OF NEW YORK.
I S S U E DATE,
YIELDS ON ACTIVELY TRADED I S S U E S ADJUSTED TO CONSTANT M A T U R I T I E S .
SOURCE: U . S . TBSASUBY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATUBITY S E B I E S .
UNWEIGHTED AVERAGE OF ALL I S S U E S OUTSTANDING OF BONDS NEITHER DUE NOB CALLABLE I N LESS THAN 10 YEARS,
INCLUDING SEVERkL
VERY LOW YIELDING "FLOWER" BOMDS.
ESTIMATE OF THE YIELD ON A RECENTLY-OFfEBED # A-RATED U T I L I T Y BOND WITH A HAIUBITY OF 3 0 YEABS AND CALL
PROTECTION OF 5 YEARS; FRIDAY yUOTATIONS.
BOKD BUYER INDEX, GENERAL OBLIGATION, 2 0 YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST BATES ON COMMITMENTS FOH FIXED-BATE F I R S T MORTGAGES.
SOURCE: FHLHC.
WEEKLY AND MONTHLY FIGURES ABE AVERAGES OF DAILY RATES, EXCEPT FOB STATE 6 LOCAL BONDS,
WHICH kRE BASED ON THURSDAY F I G U R E S , AND CONVENTIONAL MORTGAGES AND A - U 1 I L I T Y BONDS,
BOTH OF WHICH ARE BASED ON FRIDAY F I G U R E S .




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

20
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/

8.57 :
8.20
8.52 :
8.65
8.95 :
11.62

4 WEEKS> ENDED

1985
FEB :

JAN
30

20

13
8.44
8.21
8.47
8.64
9.04
11.57

1985

1985
FEB :

:

8.51
8.07
:
8.33
8.46
:
8.77
• 1 1.47

:
:
:
:

8.29
7.74
8.01
8.13
8.35
11.58

1. FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR
SEVEN CALENDAR DAYS ENDING ON WEDNESDAY.
2. QUOTED ON BANK DISCOUNT BASIS. if
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.