Full text of H.15 Selected Interest Rates : February 9, 1987

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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

9, 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 1/4/
DISCOUNT NINDOH BORROWNG 1/5/
U.S.GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2/ 6/
3-MONTH
6-MONTH
1-YEAR
AUCTION AVERAGECINVESTMENT) 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(LONG-TERM)9/
"CORPORATEV BONDS
MOODY S SEASONED

AAA
BAA
A-UTILITY 10/
STATE 8 LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
1.
.2.

1987
FEB
2

1987
FEB
3

1987
FEB
4

1987
FEB
5

1987
FEB
6

6.30

6.20

5.97

5.95

6.07

6.22

6.13

6.43

6.03
5.93
5.86

6.05
5.95
5.88

5.99
5.90
5.85

5.97
5.90
5.85

6.01
5.95
5.89

6.01
5.93
5.87

5.94
5.87
5.78

5.95
5.84
5.76

5.98
5.79
5.55

6.01
5.77
5.56

5.95
5.78
5.58

5.90
5.73
5.55

5.97
5.80
5.77

5.96
5.77
5.60

5.86
5.61
5.55

5.86
5.59
5.60

5.87
5.80

5.85
5.80

5.86
5.80

5.84
5.78

5.90
5.85

5.86
5.81

5.81
5.71

5.74
5.65

5.99
5.98
5.98
7.50
5.50

6.00
5.98
5.98
7.50
5.50

5.97
5.96
5.96
7.50
5.50

5.99
5.97
5.97
7.50
5.50

5.99
5.98
5.98
7.50
5.50

5.99
5.97
5.97
7.50
5.50

5.92
5.88
5.87
7.50
5.50

5.94
5.87
5.85
7.50
5.50

5.58
5.59

5.58
5.59

5.44
5.43

5.45
5.47
5.44

5.74
5.83

5.74
5.83

5.59
5.66

5.60
5.71

1987

This

Last
ween

JAN

5.61
5.60
5.60

5.59
5.59
5.59

5.63
5.62
5.60

5.59
5.59
5.55

5.66
5.67
5.61

5.62
5.61
5.59

5.51
5.47
5.50

5.43
5.44
5.46

5.93
6.36
6.55
6.75
7.04
7.23
7.52

5.92
6.38
6.53
6.77
7.06
7.25
7.53

5.93
6.38
6.53
6.76
7.05
7.23
7.51

5.87
6.33
6.50
6.70
7.01
7.20
7.47

5.93
6.38
6.53
6.73
7.01
7.19
7.47

5.92
6.37
6.53
6.74
7.03
7.22
7.50

5.82
6.26
6.46
6.66
6.96
7.15
7.47*

5.78
6.23
6.41
6.64
6.92
7.08
7.39

7.72

7.73

7.71

7.63

7.63

7.68

7.67

7.60

8.38
9.68

8.39
9.65

8.39
9.67

8.39
9.63

8.36
9.61
8.80

8.38
9.65
8.80
6.57
9.11

8.37
9.68
8.81
6.56
9.12

8.36
9.72
8.92
6.61
9.23

6.57
9.11

MEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT NEEK; MONTHLY FIGURES
INCLUDE EACH CALENDAR DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS HHOSE 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; NEEK 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.
UNHEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS,
INCLUDING ONE VERY LON YIELDING -FLOWER- 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: HEEKLY 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.
*The 30-year Treasury constant maturity weekly average for January 23 was revised to 7.36.




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 :
4 :

1987 :

1987 :

1986

JAN

FEB

JAN

6.22
5.58
5.91
5.94
6.14

6.13 :
5.45 :
5.82 :
5.85 :
6.10 :

:
:
:
:

28

:

:

7

6.09 :
5.44 :
5.83 :
5.87 :
6.10

7.29
5.52
6.11
6.08
6.27

4

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.