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

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FEDERAL RESERVE statistical release
FOR IMMEDIATE RELEASE
JULY 2 2 , 1 9 8 5

H.15 (510)

SELECTED INTEREST RATES
Yields In percent per annum

Instruments

FEDERAL PUNCS (EFFECTIVE) 1/
COMMERCIAL PAPER 2/3/
1-MONTH
3-MONTH
6-MONTH
FINANCE PAPER PLACED DIRECTLY 2/
l-MONTH
3-MONTH
6-MONTH
BANKERS ACCEPTANCES (THP RATEO) 2/
3-MONTH
6-MONTH
CCS (SECONDARY MARKET)
1-MQNTH
3-MONTH
6-MONTH
BANK PRIME LOAN 1/4/
DISCOUNT WINDOW BORROWING 1/5/
U.S.GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2/ 6/
3-MCNTH
6-MONTH
1-YEAR
AUCTION AVERAGE!INVESTMENT) 6/
3-MONTH
6-MONTH
SECONDARY *»ARKET 2/
3-MONTH
6-MONTH
1-YEAR
TREASURY CONSTANT MATURITIES 7/8/
1-YEAR
2-YEAR
3-Y5AR
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS1L0NG-TERMJ9/
CORPORATE 30NDS
MOODY*S SEASONED
AAA
BAA
A-UTILITY 10/
STATE I LOCAL BONOS 11/
CONVENTIONAL MORTGAGES 12/

JULY

JULY

JULY
17

Week ending
JULY
JULY
19
12

JUNE

18

JULY
19

7.71

7.59

8.26

8.G1

7.<U

7.77

e.07

7.53

7.5*
7.5*
7.5*

7.5*
7.53
7.53

7.**
7.*0
7.39

7.53
7.53
7.55

7.65
7.63
7.65

7.5*
7.53
7.53

7.*8
7.*2
7.*0

7.3*
7.35
7.38

7.53
7.3*
7.29

7.50
7.3*
7.29

7.*1
7.30
7.19

7.*7
7.30
7.21

7.65
7.33
7.26

7.32
7.25

7.*2
7.32
7.27

7.31
7.19
7.16

7.50
7.50

7.*5
7.*5

7.*5
7.*5

7.60
7.60

7.62
7.67

7.52
7.53

*0
37

7.32
7.3*

7*56
7.63

7.57
7.6*
7.80
9.50
7.50

7.*2
7.*7
7.52
9.50
7.50

7.5*
7.63
7.76
9.50
7.50

7.6*
7.75
7.92
Q.50
7.50

7.55
7.62
7.77
9.50
7.50

7.*9
7.51
7.6*
9.50
7.50

7.39
7.**
7.59
9.73
7.50

7.06

7.06
7.20

6.92
7.00
7.09

7.01
7.16
7.18

7.29
7.58

29
58

7.1*
7.36

7.23
7.53

9.50
7.53

7.0*
7.15
7.30

7.00
7.12
7.23

6.99
7.09
7.19

7.15
7.25
7.3*

7.16
7.27
7.37

7.07
7.18
7.29

6.99
7.09
7.19

6.95
7.09
7.27

7.8*
8.76
9.10
9.63
10.10
10.22
10.60
10.42

7.76
8.67
9.07
9.5<*
10.01
10.15
10.55
10.37

7.71
8.63
9.03
9.5*
9.97
10.12
10.53
10.32

7.83
8.76
9.21
9.71
10.15
10.30
10.70
10.*8

7.92
8.32
9.25
9.72
10.18
10.3*
10.73
10.52

7.82
8.73
9.13
9.6*
1C.08
10.23
1C.62
10.*2

7.73
8.62
8.96
9.50
9.97
10.12
10.52
10.36

7.80
8.69
9.05
9.60
10.08
10.16
10.57
10.*5

1O.*2

10.38

10.35

10.51

10.55

10.**

10.35

10.36

10.86
12.37

10.85
12.32

10.83
12.3*

10.92
12.3*

10.91
12.39

10.87
12.35
11.62
8.73
11.9*

10.85
12.39
11.53
8.81
12.03

10.9*
12.*0
11.62
8.69
12.22

3.73
11.9*

WEEKLY FIGURES ARE AVERAGES OF 7 CALENOAR DAYS ENDING ON WEONESDAY OF THt CURRENT
MONTHLY FIGURES INCLUDE EACH CALENDAR OAY IN THE MONTH.

2.
FOR FIRMS WHOSE BOND
3.
4* RATi CHARGED BY"BANKS ON-SHORT-TERM 3USINESS LOANS.
5. RATg FOR THE FEDERAL RESERVE BANK OF NEW YORK.
6.
N
A
7. YIELOS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT
8. SFP REVERSE FOR A OESCRIPTON OF THE CONSTANT MATURITY
9. UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONOS
10.
11.
12.

WEEK;

RATING IS AA OR THE EQUIVALENT.

MATURITIES. SOURCE: U.S. TREASURY.
SERIES.
NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS,

INCLUDING SEVERAL VERY LOW YIELDING "FLOWER" BONOS.
ESTIMATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BONO WITH A MATURITY CF 30 YEARS AND CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BdND BUYER INDEX, GENERAL OBLIGATION, 20 YEARS TO MATURITY, MtXED QUALITY; THURSDAY QUOTATIONS.

?SN?RACTINTEREST RATES ON COMMITMENTS FOR FIXEO-PATE FIRST MORTGAGES, SOURCE: FHLMC.
NOTE: WE C KLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE e LOCAL BONDS,
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL

-

MORTGAGES ANO A-UTILITY BONDS,

AS S ^ H ^ E S ^
TREASURY BILL AUCTION AVERAGES WILL BE REPORTED
OH THE AUCTION DATS INSTEAD OF THE ISSUE DATE.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
JULY :
17 :
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/

7.77
7.03
7.48
7.59
7.81
10.58

1985 :
JULY :
10 :

4 WEEKS ENDED
1985 :
JULY :
17 :

: 8.07 ;• 7.84
: 6.90 •: 6.96
•
7.39 : 7.43
: 7.44 : 7.53
: 7.74 .. 7.74
: 10.44 : 10.60

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:
:
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:
:

1985
JUNE
26
49
98
35
44
60
10.57

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.