Full text of H.15 Selected Interest Rates : January 22, 1985

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FEDERAL RESERVE statistical release
For immediate release
JANUARY 2 2 , 1S85

H.15(519|

SELECTED INTEREST RATES
Yields in percent per annum

JAN
14

JAN
15

JAN
16

JAN
17

JA1
18

Week ending
JAN
JAN
11
18

DEC

8.15
'5DERAL FUNDS (EFPBCTIfB)
1/
:O«HERCIAL PAPBB 2 / 3 /
1-flONTH
8.02
3-flONTH
8.06
6-HONTH
8.19
'INANCE PAPER PLACED DIRECTLY 2 /
1-HO NTH
8.02
3 - BO NTH
7.90
6-BONTH
7.91
JANKERS ACCEPTANCES (TOP BATED) 2 /
8.00
3-noNTH
8.22
6-nONTH
:DS (SECONDARY BARRET)
8.06
1-8ONTH
8.19
3-nOSTH
8.52
6-ttONTH
10.75
SANK PBIHE LOAN
1/4/
)ISCOUNT WINDOW BORROWING
1/5/
8.00
J.S. GOVERNBENT
SECOBITIES
TREASUBI BILLS
AUCTION A?EBAGB 2 / 6 /
3-BO NT B
6-BONTH
1-YEAB
AOCTION AVERAGECIBVBSTHENT)
6/
3-BONTH
6-HO NTH
SECONDABI BASKET 2 /
7.70
3-HONTH
8.02
6-HONTH
8.39
1-YEAB
TREASURY CONSTANT HATORITIBS
7/8/
9.12
1-YEAB
10.07
2-YEAR
10.59
3-YEAB
11.13
5-YEAB
11.47
7-YEAB
11.60
10-YEAB
11.82
20-YBAB
11.68
30-YEAB

8.03

8.51

8.27

8.10

8.23

8.27

8.38

7.94
7.98
8.16

7.95
8.02
8.19

7.94
7.98
8.14

7.88
7.94
8.14

7.95
8.00
8.16

7.94
8.01
8.14

8.39
8.44
8.55

7.81
7.79
7.80

7.87
7.81
7.83

7.85
7.81
7.83

7.82
7.78
7.76

7.87
7.82
7.83

7.91
7.83
7.83

8.25
8.12
8*09

7.95
8*15

7.95
8.15

7.95
8.13

7.95
8.05

7.96
8.14

7.99
8.05

8.45
8.54

7.99
8.08
8.46
10.50
8.00

8.01
8.09
8.50
10.50
8.00

8.01
8.12
8.49
10.50
8.00

7.S8
8.C6
8.40
10.50
8.00

8.01
8.11
8.47
10.68
8.00

8.05
8. 13
8.43
10.75
8.00

8.47
8.60
8.85
11.06
8.37

7.74
8.05

7.74
8.05

7.78
8.02

8. 16
8.36
8.38

8.00
8.51

8.00
8.51

8.05
8.48

8.44
8.85

Instruments

7.73
7.97
8.32

7.74
7.98
8.32

7.74
7.97
8.32

7.74
7.94
8.31

7.73
7.98
8.33

7.75
7.98
8.34

8.06
8.29
8.60

9.04
10.00
10.49
11.01
11.33
11.49
11.73
11.57

9.04
9.99
10.51
11.02
11.37
11.51
11.74
11.59

9.04
9.98
10.47
10.99
11.34
11.48
11.72
11.59

8.99
9.91
10.38
10.89
11.25
11.39
11.63
11.51

9.05
9.99
10.49
11.01
11.35
11.49
11.73
11.59

9.04
10.01
10.51
11.07
11.39
11.50
11.70
11.54

9.33
10.18
10.56
11.07
11.45
11.50
11.64
11.52

11.37

11.27

11.29

11.27

11.2?

11.28

11.24

11.21

12.23
13.34

12.19
13.35

12.23
13.33

12.20
13.33

12.16
13.27
12.82

12.20
13.32
12.82
9.51
13.12

12.16
13.33
12.92
9.60
13.12

12.13
13.40
12.88
9.95
13. 18

A** /"fc M T% f\ f* T tfl "—

COBPOSITE
OYEB 10
YEABS(LONG-TBBH)9/
ZORPORATE BONDS
MOODY»S SEASONED
AAA
BAA
A-UTILITY
10/
STATE 6 LOCAL BONDS 1 1 /
ZONVENTIONAL HOBTGAGES 1 2 /

1.

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

9.51
13.12

MEEKLY FIGURES ABB ATRIAGES OP 7 CALENDAR DAIS ENDING ON MBDNE50AY OF TIB CURRENT WEEK;
BONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THB BONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
RATES ON COHHERCIAL PAPER PLACED FO1 FIRBS fBOSrf BOND RATING I S AA 0 1 TBB BQOIfALENT.
RATE CHARGED BY BANKS ON SHOBT-TERB BUSINESS LOANS*
RATE FOR THB FEDERAL RESEBVB BANK OF NEI YGBK.
ISSUE DATE.
SOURCE: U.S. TREASURY.
YIELDS ON ACTIVELY TRADBD ISSUES ADJUSTED TO CONSTANT HATUBITIBS.
SEE REVERSE FOR A DBSCRIPTON OF THB CONSTANT BATUBITT S E R I B S .
UNWEIGHTED AVEBAGE OF ALL I S S U E S OUTSTANDING OF BONDS NEITHER DUB HOB CALLABLE IN LESS THAN 10 YEARS*
INCLUDING SETEBAL ?EHY LO« YIELDING " F L O i E a " BONDS.
ESTIHATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATBD UTILITY BOND i l T H A BATORITY OF 3 0 YEARS AND CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BOIBB INDEX, GENERAL OBLIGATION, 2 0 YEA1S TO HATOBITY, HIXBD QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATBS 0 1 COHHITHBNTS FOB FIXED-RATB FIRST HOiTGAGBS.
SOUBCE2 FHLHC.

NOTE: MEEKLY AID HO1THLI FIGU1ES ABB AVERAGES OF DAILY BATES, EXCEPT FOB STATE & LOCAL BONDS,
WHICH ABB BASED ON THO1SDAY FIGURES, AND CONVENTIONAL HORTGAGBS AND A-UTILITY BONDS,
BOTH OF WBICH ABB BASED 01 FBIDAY FIGURES.




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

16
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/

8.23 :
7.73
8.00 :
8.12
8.35 :
11.75

4 WEEK£5 ENDED

1985 :
JAN :
9 ::
8.27
7.78
8.09
8.19
8.48
11.74

:
:
:
.
:
:

1985 :
JAN :
16 :

DEC

1984

8.30 ::
7.75 :
8.10 :
8.21 :
8.51 :
11.67 ;t

8.37
8.12
8.48
8.64
8.94
11.63

26

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.
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.