Full text of H.15 Selected Interest Rates : June 18, 1990

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

H.15 (519)

For immediate release
June 18, 1990

SELECTED INTEREST RATES
Yields in percent per annum
1990

1990

1990

1990

1990

JUN

JUN

JUN

JUN

JUN

11

12

13

14

FEDERAL FUNDS (EFFECTIVE) 1 2 3
8.26
COMMERCIAL PAPER 3 4 5
1-MONTH
8.20
3-MONTH
8.14
6-MONTH
8.06
FINANCE PAPER PLACED DIRECTLY 3 4 6
1-MONTH
8.10
3-MONTH
8.03
6-MONTH
7.83
BANKERS ACCEPTANCES (TOP RATED) 3 4 7
3-MONTH
7.99
6-MONTH
7.88
CDS (SECONDARY MARKET) 3 8
1-MONTH
8.20
3-MONTH
8.23
6-MONTH
8.26
EURODOLLAR DEPOSITS (LONDON) 3 9
1-MONTH
8.19
3-MONTH
8. 25
6-MONTH
8.25
BANK PRIME LOAN 2 3 1 0
10.00
DISCOUNT NINDOH BORROWING2 2 1
7.00
U.S. GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 3 4 1 2
3-MONTH
7.73
6-MONTH
7.64
1-YEAR
AUCTION AVERAGE (INVESTMENT) 12
3-MONTH
7.99
6-MONTH
8.06
SECONDARY MARKET 3 4
3-MONTH
7.73
6-MONTH
7.66
1-YEAR
7.53
TREASURY CONSTANT MATURITIES 13
1-YEAR
8.09
2-YEAR
8.36
3-YEAR
8.41
5-YEAR
8.43
7-YEAR
8.52
10-YEAR
8.48
30-YEAR
8.45
COMPOSITE
8.61
OVER 10 YEARS(LONG-TERM) 14
CORPORATE BONDS
MOODY'S SEASONED
AAA
9.25
BAA
10.22
A-UTILITY 15
STATE & LOCAL BONOS 1 6
CONVENTIONAL MORTGAGES 17

8.23

8.61

8.20
8.14
8,06

Instruments




SEE OVERLEAF FOR FOOTNOTES

1990
Last
week

MAY

15

This
week

8.29

8,29

8.30

8.26

8,18

8.17
8.11
8.02

8.17
8.09
8.01

8.18
8.02

8.18
8.12
8.03

8.17
8.12
8.06

8.24
8.25
8.23

8.12
8.04
7.83

8.08
7.98
7.80

8.10
7.96
7.78

8.12
7.95
7.73

8.10
7.99
7.79

8.09
8.01
7.76

8.14
8.12
8.04

8.00
7.91

7.99
7.88

7.95
7.85

8.00
7.89

7.99
7.88

7.96
7.87

8.12
8.08

8.19
8.22
8.27

8.20
8.22
8.28

8.18
8.19
8.25

8.18
8.20
8.25

8.19
8.21
8.26

8.17
8.22
8.28

8.25
8.35
8.48

8.19
8.19
8.31
10.00
7.00

8.19
8.25
8.31
10.00
7.00

8.19
8.19
8.25
10.00
7.00

8.19
8.19
8.19
10.00
7.00

8.19
8.21
8.26
10.00
7.00

8.16
8,23
8.28
10.00
7.00

8.22
8.35
8.51
10.00
7.00

8.11

7.73
7.64

7.69
7.62
7.65,

7.78
7.82
8.05

7.99
8.06

7.95
8.03

8.05
8.25

7.73
7.63
7.53

7.67
7.58
7.47

7.66
7.57
7.45

7.69
7.63
7.50

7.70
7.61
7.50

7.70
7.61
7.51

7.74
7.76
7.73

8.09
8.36
8.42
8.44
8.52
8.48
8.45

8.02
8.27
8.32
8.35
8.44
8.40
8.39

8.00
8.24
8.29
8.32
8.41
8.38
8.36

8.05
8.33
8.37
8.41
8.49
8.46
8.43

8.05
8.31
8.36
8.39
8.48
8.44
8.42

8.08
8.33
8.38
8.41
8.50
8.46
8.44

8.32
8.64
8.69
8.74
8.78
8.76
8.73

8.61

8.54

8.52

8.59

8.57

8.60

8.90

9.24
10.19

9.23
10.16

9.16
10.17

9.19
10.19
9.83

9.21
10.19
9.83
7.20
10.12

9.27
10.21
9.78
7.21
10.10

9.47
10.41
10.04
7.35
10.48

7.20
10.12

FOOTNOTES
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.

The daily effective federal funds rate is a weighted average of rates on trades through N.Y.
brokers.
Heekly 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
for firms whose bond rating 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. London 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 daily data* weekly and monthly averages computed on an issue-dato basis.
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> including one very low yielding "flower" bond.
Estimate of the yield on a recently offered> A-rated utility bond with a maturity of 30 years
and call protection of 5 years> Friday quotations.
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 maturity1 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 actively traded Treasury securties in the ovei—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 maturity yield
values are read from the yield curve at fixed maturities, currently 1, 2, 3, 5, 7, 10> and 30 years.
This method provides a yield for a 10-year maturity, for example, even if no outstanding security
has exactly 10 years remaining to maturity.