Full text of H.15 Selected Interest Rates : July 5, 1994
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FEDERAL RESERVE statistical release T hese data are released each Monday. The availability of the release is announced on (202) 452-3206. H.15 (519) SELECTED INTEREST RATES For immediate release July 5, 1994 Yields in percent per annum Week Ending Instruments Federal funds (effective) 1 2 3 Commercial paper 3 4 5 1-month 3-month 6-month Finance paper placed directly 3 4 6 1-month 3-month 6-month Bankers acceptances (top rated) 3 4 7 3-month 6-month CDs (secondary market) 3 8 1-month 3-month 6-month Eurodollar deposits (London) 3 9 1-month 3-month 6-month Bank prime loan 2 3 10 Discount window borrowing 2 11 U.S. government securities Treasury bills Auction average 3 4 12 3-month 6-month 1 -year Auction average (investment) 3-month 6-month 1 -year Secondary market 3 4 3-month 6-month 1-year Treasury constant maturities 14 1-year 2-year 3-year 5-year 7-year 10-year 20-year 30-year Composite Over 10 years (long-term) 15 Corporate bonds Moody's seasoned Aaa Baa A-utility 16 State & local bonds 17 Conventional mortgages 18 See overleaf for footnotes http://fraser.stlouisfed.org/ n.a. Not available Federal Reserve Bank of St. Louis 1994 Jun 27 1994 Jun 28 1994 Jun 29 1994 Jun 30 1994 Jul 1 4.29 4.21 4.15 5.96 4.42 4.63 4.92 4.44 4.66 4.94 4.47 4.72 5.00 4.33 4.51 4.58 4.34 4.49 4.54 4.55 4.80 1994 Jun Jul 1 Jun 24 3.82 4.19 4.19 4.25 4.50 4.74 5.02 4.52 4.76 5.06 4.47 4.70 4.99 4.36 4.56 4.82 4.36 4.57 4.86 4.38 4.53 4.55 4.39 4.54 4.50 4.43 4.63 4.58 4.37 4.54 4.55 4.27 4.43 4.51 4.27 4.44 4.50 4.60 4.86 4.62 4.90 4.69 5.00 4.73 5.03 4.64 4.92 4.46 4.74 4.45 4.73 4.38 4.62 4.96 4.40 4.65 5.00 4.44 4.75 5.13 4.44 4.73 5.11 4.50 4.80 5.19 4.43 4.71 5.08 4.29 4.52 4.85 4.30 4.52 4.85 4.38 4.63 4.94 7.25 3.50 4.38 4.63 5.00 7.25 3.50 4.44 4.75 5.13 7.25 3.50 4.44 4.75 5.13 7.25 ,3.50 4.50 4.81 5.19 7.25 3.50 4.43 4.71 5.08 7.25 3.50 4.28 4.51 4.85 7.25 3.50 4.27 4.51 4.85 7.25 3.50 4.20 4.60 4.20 4.60 5.04 4.18 4.55 4.18 4.58 5.03 4.31 4.78 4.31 4.78 4.28 4.72 5.31 4.29 4.75 5.31 13 4.14 4.61 5.10 4.18 4.58 5.19 4.15 4.57 5.18 4.15 4.65 5.22 4.20 4.65 5.21 4.16 4.61 5.18 4.16 4.57 5.00 4.14 4.55 4.98 5.37 6.05 6.36 6.79 7.00 7,18 7.57 7.46 5.48 6.13 6.46 6.88 7.09 7.26 7.65 7.53 5.47 6.12 6.45 6.87 7.08 7.24 7.63 7.51 5.51 6.19 6.52 6.97 7.18 7.34 7.75 7.63 5.50 6.19 6.53 6.95 7.19 7.34 7.74 7.62 5.47 6.14 6.46 6.89 7.11 7.27 7.67 7.55 5.30 5.99 6.32 6.76 6.97 7.17 7.57 7.46 5.27 5.93 6.27 6.70 6.91 7.10 7.51 7.40 7.50 7.57 7.56 7.68 7.66 7.59 7.50 7.43 8.03 8.73 8.09 8.79 8.08 8.78 8.18 8.86 n.a. n.a. 8.49 n.a. n.a. 8.49 6.28 8.57 8.02 8.73 8.41 6.16 8.46 7.97 8.65 8.30 6.11 8.40 6.28 8.57 FOOTNOTES 1. 2. 3. 4. 5. 6. 7. 8. 9. 19. 11. 12. 13. 14. 15. 16. 17. 18. The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. Annualized using a 360-day year or bank interest. Quoted on a discount basis. An average of offering rates on commercial paper placed by several leading dealers f c firms whose bond rat'ng is AA or the equivalent. An average of offering rates on paper directly placed by finance companies. Representative closing yields for acceptances of the highest rated money center banks. An average of dealer offering rates on nationally traded certificates of deposit. Bid rates for Eurodollar deposits at 11 a.m. Londor time. One of several base rates used by banks to price short-term business loans. Rate for the Federal Reserve Bank of New York. Auction date for :Jai!y data: weekly and monthly averages computed on an issue-date basis. Auction dates for daily, weekly and monthly averages. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years. Estimate of the? y:eld on a recently offered. A-rated utility bond with a maturity of 30 years and call protection of 5 years; Friday qjotations. 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: Weekly and monthly figures are averages of business days unless otherwise noted. DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES Yields on Treasury securities at "constant maturity" are interpolated by the U.S. Treasury from the 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 activ9ly traded Treasury securities in the over-the-counter market. These market yields are calculatec from composites of cuotaticns reported by five leading U.S. Government securities dealers to the Federal Reserve Bank of New York. T i e constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 2. 3, 5, 7, 10. 20, and 30 years. Tiis method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. In estimating the 20-yoar constant maturity, the Treasury incorporates the prevailing market yield o.i an outstanding Treasury bond with approximately 20 years remaining to maturity.