Full text of H.15 Selected Interest Rates : January 5, 1987

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FEDERAL RESERVE statistical release
hese data are released each Monday. The availability of the release will be announced when the information
<s available, on (202) 452-3206.

These data are released each Monday, The availability of the release will
be announced, when the information is available, on (202) 452-3206.
For immediate release

H.15 (519)

SELECTED INTEREST RATES

JANUARY

5, 1987

This
weeK

Last
week

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 I/A/
DISCOUNT WINDOW BORROWING 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
*20-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDS
MOODY'S SEASONED

AAA
BAA

1986
DEC
29

1986
DEC
30

1986
DEC
31

8.38

16.17

7.46
6.38
5.98

1986
DEC

1

1987
JAN
2

14.35

M

6 .46

9.20

6.31

6.91

7.73
6.41
6.07

7.85
6.44
6.01

A

6.19
6.04
5.92

7.31
6.32
6 .00

7.39
6.35
6 .05

6.63
6.10
5.88

6.95
5.92
5.92

7.01
6.01
6.00

6.92
6.03
6.00

V

6.67
6.22
6 .18

6.89
6.05
6.03

6.79
5.83
5.82

6.32
5.81
5.74

6.20
5.90

6.25
5.95

6.00
5.85

E

5.88
5.75

6.08
5.86

6.21
5.94

5.96
5.78

7.37
6.27
6.08
7.50
5.50

7.96
6.34
6.13
7.50
5.50

7.80
6.26
6.08
7.50
5.50

6.15
6.00
5.96
7 .50
5.50

7.32
6.22
6.06
7.50
5.50

7.58
6.27
6.10
7 .50
5.50

6.66
6.04
5.95
7.50
5.50

5.68
5.68

5.49
5.56
5.60

5.49
5.53
5.60

5.84
5.93

5.64
5.80

5.63
5.76

5.55
5.56
5.54

5.65
5.64
5.64

5.56
5.60
5.59

5.53
5.55
5.55

5.86
6.30
6.48'
6.75
7.03
7.18
n.a.
7.4'4

5.97
6.36
6.54
6.79
7.07
7.20
n. a.
7 .45

5.92
6.30
6.46
6.69
6.96
7.08
7.25
7.35

5.87
6.27
6.43
6.67
6.97
7.1L
a.a.
7.37

1987
JAN

R

T

c
5.68
5.68

L
0

5.84
5.93

s

5.67
5.70
5.68

5.69
5.68
5.72

5.67
5.63
5.62

6.02
6.37
6.53
6.78
7.06
7.17
7.32
7.41

6.06
6.42
6.59
6.82
7.09
7.23
7.38
7.46

5.95
6.35
6.56
6.81
7.09
7.23
7.39
7.<9

7.69

7.75

7.78

7 .73

7.74

7.61

7.67

8.45
9.92

8.50
9.98

8.53
9.99

8.49
9.97
9.14

8.49
9.97
9.14
6 .85
9.37

8.47
9.98
9.07
6 .83
9.30

8.49
9.98
9.08
6.86
9.31

A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

E
TV

D

6.85

9.37

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS JENDING ON WEDNESDAY OF THE CURRENT MEEK; MONTHLY FIGURES
INCLUDE EACH CALENDAR DAY IN THE MONTH.
2.
3.
4.
5.
6.
7.
8.

RATES%8\oK
FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.

KK58%WI F ^ D ^n2 E lT% B r?% N ^r

K K l 5 8 % W I ^ ^ n o 2 l A T E % o r D A ? L % ^ r W E E K AND MONTH AVERAGES ON ISSUE-DATE BASIS
Y I R D S ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES. SOURCE. U.S. TREASURY.
SFF RFVFRSF
FOR A DESCRIPTON OF THE CONSTANT MATURITY SERIES. THE TREASURY ANNOUNCED ON APRIL 30.
1986 R fSAT l / S S foSGER i u L M I S S U E 2 0 - ? E A R BONDS. CONSEQUENTLY,THE 20-YEAR CONSTANT MATURITY RATE IS

^^?g^ T ^ 0 ^P2F B A E ir E ^S T U^ ^ I ^ D l J r O ^ ^ i ^ T ^ g ^ 1 ^

CALLABLE IN LESS THAN 10 YEARS,

HITH

*MATURITY 0F 30 YEARS AND CALL

KSiSEFo?^^
11
12

« " » ™ ™»

K S F S K S I ^ D i x y T E ^ R S r O ^ I ^ I S I I ^ Y E A R S TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES.

SOURCE. FHLMC.

Awn MnwTHtY FIGURES ARE AVERAGES OF DAILY RATESt EXCEPT FOR STATE ft LOCAL BONDS, WHICH ARE
BASED OM THURSDAY F I O U R S ; AND S O N V E S T I O N A I HORTGAGES AND A - U T I U T Y BONDS. BOTH OF HHICH
ARE BASED ON FRIDAY FIGURES.
*The 20-year constant maturity yield will be discontinued at th. *<* of 1 9 W because the Treasury no longer
issues a 20-year bond.



SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1986 :
:
31 :

1986 :
DEC :
24 :

1986 :
DEC :
31 :

9.20
5.65
6.38
6.27
6.36
7.33

6.31 :
5.55 .
6.31
6.24 :
6.50 :
7.26 •

6.95
5.55
6.15
6.08
6.27
7.28

DEC
FEDERAL FUNDS (EFFECTIVE) 1/
3-MONTH TREASURY BILL 2/
3-MONTH COMMERCIAL PAPER 2/
3-MONTH CO (SECONDARY MARKET)
3-MONTH EURODOLLAR 3/
U. S. GOVERNMENT BOND 4/

4 WEEKS ENDED

:
:
:
:
:
:

:
:
:
:
:
:

1986
DEC
3
09
41
83
81
01
7.32

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, 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.