Full text of H.15 Selected Interest Rates : June 10, 1985

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FEDERAL RESERVE statistical release
H.15(518)

For Immediate release
JDSE 1 0 , 1965

SELECTED INTEREST RATES
Yields in percent per annum

Instruments

FEDERAL FUNDS (EFFECTIVE). 1 /
COMMERCIAL PAPEfi 2 / 3 /
1-BONTB
3-flONTH
6-BONTH
FINANCE PIPES PLACED DIBECTLI 2 /
1-UOITH
3-BONTH
6-SO NTH
BANKERS ACCEPTAiCES (TOP BATED) 2 /
3-BONTH
6-BONTH
CDS (SECCNDABT HARKET)
1-BONTH
3-BONTH
6-BONTH
BANK PfclBE LOAN
1/4/
DISCOUNT WINDOW BOBBOWING 1 / 5 /
U.S.GOVERNBENT SECUBITIES
TREASURY BILLS
ADCTIOR AVEBAGE 2 / 6 /
3-aOBTB
6-flONTH
1-YEAB
AUCTION A¥EBAGF|INVESlfl£NT) 6 /
3-BONTH
6-JIONTH
SECONDABY BABKET 2 /
3-flONTH
6-BONTB
1-IEAB
TREASURY CONSTANT BATOBITIES 7 / 8 /
1-IEAB
2-YEAB
3-TEAB
5-YEAB
7-YEAB
10-YEAB
20-YEAB
30-YEAB
COBPOSITE
OVEP 10 YEABS (LONG-TEBB)9/
CORPORATE BONDS
BOODY'S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAX B0BTGA6ES 1 2 /
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

JUNE
3

JU1E
4

JUNE
5

JUNE
6

JUNE
7

Week ending
BAY
JUNE
31
7

7.84

7.91

7.87

7.77

7.6 0

7.75

7.60

7.97

7.38
7.37
7.38

7.40
7.38
7.37

7.32
1.21
7.20

7.34
7.29
7.25

7.39
7.34
7.33

7.37
7.33
7.31

7.46
7.48
7.54

7.80
7.83
7.88

7.34
7.28
7.25

7.38
7.24
7.24

7.26
7.18
7.12

7.33
7.12
7.10

7.37
7.14
7.13

7.34
7.19
7.17

7.45
7.42
7.39

7.74
7.71
7.69

7.28
7.25

7.30
7.28

7.20
7.10

7.25
7.20

7.45
7.40

7.30
7.25

7.43
7.47

7.77
7.81

7.39
7.40
7.48
10.00
7.50

7.42
7.43
7.55
10.00
7.50

7.32
7.32
7.32
10.00
7.50

7.36
7.38
7.46
10.00
7.50

7.40
7.42
7.51
10.00
7.50

7.38
7.39
7.46
10.00
7.50

7.49
7.56
7.74
10.00
7.50

7.83
7.92
8.08
10.31
7.81

7.03
7.16

7.03
7.16

7.22
7.39

7.56
7.75
7.94

7.26
7.53

7.26
7.53

7.46
7.78

7.82
8.18

7.01

7.48
7.65
7.85

BAY

7.02
7.13
7.29

6.96
7.13
7.26

6.92
6.95
7.10

6.98
7.01
7.18

7.15
7.27
7.44

7.25

7.19
7.32
7.53

7.83
8.72
9.07
9.50
9.93
10.05
10.49
10.40

7.81
8.68
9.01
9.47
9.93
10.05
10.49
10.39

7.63
8.42
8.77
9.26
9.75
9.83
10.35
10.25

7.72
8.51
8.83
9.33
9.84
9.89
10.37
10.29

7.99
8.82
9.15
9.67
10.18
10.19
10.62
10.52

7.80
8.63
8.97
9.45
9.93
10.00
10.46
10.37

8.09
9.01
9.36
9.84
10.25
10.39
10.79
10.68

8.46
9.39
9.75
10.34
10.72
10.85
1 1. 19
11.05

10.30

10.29

10.15

10.18

10.42

10.27

10.58

10.96

11.04
12.50

10.99
12.41

10.88
12.29

10.82
12.27

10.92
12.34
11.57

10.93
12.36
11.57
8.60
12.39

11.27
12.69
11.78
8.81
12.71

11.72
13.15
12.25
9.01
12.91

8.60

12.39

7.10

WEEKLY FIGUfiES ABE ATEBAGES OF 7 CALENDAB DAYS ENDING ON iEDNESDAY OF TfiE CUBBENT 1EEK;
MONTHLY FIGURES INCLUDE EACH CALENDAB DAY IN THE BONTH.
QUOTED ON BANK-DISCOUNT BASIS.
BATES ON COBBEBCIAL PAPEB PLACED FOB FIBBS SHOSE BOKD BATING IS AA OB TIE EQUIVALENT.
BATE CBABGED BY BANKS ON SBORT-TEBB BUSINESS LOANS.
BATE FOE THE FEDERAL RESERVE BANK 01 NEH YOBK.
ISSUE DATE.
YIELDS ON ACTIVELY TBADED ISSUES ADJUSTED TO CONSTANT BATUBITIES.
SOUBCE: U . S . TBEASUBY.
SEE SEVERSE FOB A DESCBIPTON OF THE CONSTANT BATUBITY S E B I E S .
UNWEIGHTED AVEBAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHEB DOE WQB CALLABLE IN LESS THAN 10 YEARS,
INCLUDING SEVERAL VEBY LOW 11ELDIUG "FLOIEB" BONDS.
ESTIBATE OF THE YIELD ON A BECENTLY-OFFEBED, A-BATED UTILITY BOND WITH A BATUBIIY OF 3 0 YEABS AND CALL
PBOTECT1ON OF 5 YEAfiS; FBIDAY QUOTATIONS.
BOND BDYEE INDEX, GENERAL OBLIGATION, 2 0 YEABS TO HATUBITY, BIXED QUALITY; THUBSDAY QUOTATIONS.
CONTBACT INTEBEST BATES ON COBBITHENTS FOB FIXED-BATE FIBST BOBTGAGES.
SCUBCE: FHLBC.

NOTE: WEEKLY AND BONTHLY FIGURES ABE AVERAGES OF DAILY BATES, EXCEPT FOB STATE £ LOCAL K)NDS #
WHICH AfiE BASED ON THUBSDAY FIGUfiES, AND CONVENTIONAL BOBTGAGES AND A-OTILITI BONDS,
BOTH OF WHICH ABE BASED ON FBIDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 ::
JUNE •:
5 ::
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/

7.75
7.04
7.40
7.45
7.63
10.56

:
::
•:
::
•:
!:

4 WEEKS ENDED

1985 :i
M A Y •:
29 ::
7.60
7.22
7.51
7.60
7.86
10.91

:
!:
i
!:
.i
!!

1985 :!
JUNE !:
5 !:

1985
MAY
15

7.85 ::
8.09
7.74
7.31 :!
7.65 :i 8.08
7.73 !
8.19
7.93 !:
8.43
10.96 :: 11.51

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.