Full text of H.15 Selected Interest Rates : March 16, 1987

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FEDERAL RESERVE statistical release
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

MARCH 16, 1987

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 1/4/
DISCOUNT WINDOW BORRONING 1/5/
U.S.GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2/ 6/
3-MONTH
6-MONTH
1-YEAR
AUCTION AVERAGE(INVESTMENT) 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
30-YEAR
COMPOSITE
OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

1987
MAR
9

1987

10

1987
MAR
11

1987

MAR

MAR

MAR

6.21

6.29

6.32

6.14

6.05

6.12

6 .06

6 .10

6.15
6.11
6.06

6.20
6.14
6.07

6.26
6.18
6.12

6.20
6.15
6 .08

6.21
6.15
6 .07

6.20
6.15
6 . 08

6.12*
6 .07
6 . 01

6 .12
6 . 05
5.99

6.10
6.00
5.84

6.16
5.92
5.80

6.09
5.92
5.84

6.08
5.96
5.87

6.03
5.92
5.84

6.09
5.94
5.84

6.02
5.89
5.82

6.02
5.88
5.79

6.03
5.98

6.07
5.99

6.08
6.03

6.07
6.01

6.07
6.01

6.06
6 .00

5.96
5.91

5.99
5 .93

6.13
6.13
6.14
7.50
5.50

6.14
6.14
6.16
7.50
5.50

6.21
6.19
6.20
7.50
5.50

6.16
6.15
6.16
7.50
5.50

6.15
6.14
6.15
7.50
5.50

6.16
6.15
6.16
5'. 50

6 .10
6 .10
6.11
7.50
5.50

6.10
6 . 10
6 .10
7 .50
5.50

5.63
5.59

5.47
5.51

5.59
5.60
5.74

5.81
5.85

5.64
5.76

5.75
5.84

1987

12

13

5.63
5.59
5.68
5.81
5.85

1987

This
week

FEB

Last
week

5.64
5.68
5.70

5.68
5.65
5.74

5.69
5.64
5.74

5.67
5.63
5.74

5.62
5.62
5.66

5.66
5.64
5.72

5.54
5.55
5.61

5.59
5.59
5.63

6.04
6.43
6.56
6.78
7.04
7.23
7.53

6.09
6.44
6.57
6.78
7.05
7.23
7.53

6.09
6.44
6.57
6.78
7.05
7.23
7.53

6.09
6.43
6.56
6.78
7.05
7.22
7.52

6.01
6.39
6.52
6.75
7.01
7.19
7.49

6.06
6.43
6.56
6.77
7.04
7.22
7.52

5.94
6.36
6.52
6.71
6.99
7.18
7.47

5.96
6.40
6.56
6.79
7.06
7.25
7.54

7.61

7.61

7.62

7.60

7.58

7.60

7 .56

7 .69

8.36
9.61

8.36
9.62

8.37
9.62

8.37
9.62

8.36
9.59
8.83

8.36
9.61
8.83
6.61
9.09

8.34
9.60
8.80
6.67**
9.08

8.38
9.65
8.82
6 .61
9.12

6.61

9.09

i

INCLUDE F EACH E CALENDAR E DAY E IN°THE MONTH D A R

DAYS ENDING 0N W E D N E S D A Y O F T H E

NEEK; MONTHLY FIGURES

QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
CWUIVALHIMI .
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
AUCTION DATE. AUCTION DATE FOR DAILY DATA; WEEK AND MONTH AVERAGES ON ISSUE-DATE BASIS
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES
U.S TREASURY
S E
F R
T
S NT
E SOURCE:
^^AR

^ ^ ^ I ° ^ I S S ^ E ^S^ }S S

^ ir

B0NDS NEITHER DUE N0R

11.
12.

^S^FR?DAYQ[)^T?O^S

CALLABLE

Y I E L D

THAN10

U

"LXTY
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 DAILY RATES, EXCEPT FOR STATE & LOCAL B&NDS, WHICH ARE
BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS? BOTH OF WHICH
ARE BASED ON FRIDAY FIGURES.
*Daily rate for 1-month commercial paper for March 3 was revised to 6.13.
**Daily and weekly rate for state and local bonds for March 5 was revised to 6.54.




WAS

YEARS

'

SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1987 :
MAR :

4

11
FEDERAL
3-MONTH
3-MONTH
3-MONTH
3-MONTH

FUNDS (EFFECTIVE) 1/
TREASURY BILL 2/
COMMERCIAL PAPER 2/
CD (SECONDARY MARKET)
EURODOLLAR 3/

6.12
5.63
6.10
6.13
6.34

1987
MAR :

6.06
:
:
:
:

5.49 •

6.07 :
6.10 :
6.33

4 WEEKS ENDED
1987

MAR
11
6.09
5.56
6.10
6.15
6.37

1987

FEB
:

:
:
:
:

11
6.17
5.61
5.98
6.02
6.23

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.

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.