Full text of H.15 Selected Interest Rates : March 18, 1985

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FEDERAL RESERVE statistical release
H.1S

(519)

For immediate release
BABCH 1 8 , 1 9 8 5

SELECTED INTEREST RATES
Yields in percent per annum

Instruments

30-YEAR
COHPOSITE
OVER 10 YEARS (LONG-TERM) 9 /
CORPORATE BONDS
BOODY'S SEASONED
AAA
BAA
A-OTILITI 1 0 /
STATE S LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

BAR
14

BAR
15

Week ending
BA£
BAR
15
8

FEfi

8.53

9.12

9.12

6.61

8.52

8.63

8.50

8.64
8.77
9.09

8.74
8.92
9.23

8.69

8.S4

9.05

9. 12

9.38

9.44

8.77
8.93
9.26

6.80
9.06
9.42

8.46
6.54
8.69

8.64
8.65
8.60

8,72
8.66
8.60

8.62
8.72
8.68

8.95
8.66
8.70

8.75

8.67
8.t>4

8.78
8.73
8.62

8.42
8.25
8.20

8.80
9.15

9.00
9.35

9.00
9.42

9.00
9.32

6.90
9.27

9.10
9.41

8.55
8.69

8.74
8.98
9.58
10.50
8.00

6.83
9. 14
9.74
10.50
8.00

6.89
9.24

8.74
9.04
9.62
10.50
8.00

8.60
9.22
9.86
10.50
8.00

8.50
6.69
9.04
10.50
8.00

BAR

11

12

FHDERAL FUNDS (EFFECTIVE) 1 /
8.26
C0B8EBCIAL PAPEH 2 / 3 /
1-BONTH
8.63
3-BONTH
8.79
6-HONTH
9.16
FINANCE PAPER PLACED DIHECTLY 2 /
1-I1ONTH
8.61
3-BONTB
8.66
6-BONTH
8.60
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-BONTH
8.70
6-HONTH
9.10
CDS (SBCOUDABY MARKET)
1-BONTH
8.61
3-BOUTH
8.90
6-SOUTH
9.51
BASK PBIBE LOAM
1/4/
10.50
DISCOOMT WINDOW BOBROWING 1 / 5 /
8.00
U. S. GOVEBNBENT SECURITIES
TEEASUfiY BILLS
AUCTION AVERAGE 2 / 6 /
3-BONTH
6-BONTH
1-YEAB
AUCTION AVERAGE IIKVESTHE1T) 6 /
3-BO NTH
6-BONTH
SECONDARY BARKET 2 /
3-BOHTH
8.47
6-3OBTH
8.79
1-YEAB
8.92
XBEASURI CONSTANT HATUBITIES 7 / 8 /
1-IEAR
9.71
2-YEAR
10.56
3-YEAR
10.92
5-YEAR
11.38
7-YEAR
11.71
10-IEAR
11.72

20-YEAR

BAR
13

BAR

8.63
8.94
9.49
10.50
8.00

8.54
8.85
9.00
9.80
10.62
10.99
11.45
11.76
11.78
12.00

8.60
9.01
9.13

9.77
10.50
6.00

8.48
8.79

8.48
8.79

8.73
8.96

8.22
8.34
8.46

8.79
9.33

8.79
9.33

9.05
9.54

6*51
8.83

8.72
9.13
9.23

8.41
8.98
9. 18

8.55
8.95
9.09

6.6S
8.97
9.OS

8.27
8.39
8.56

10.07
10.86

9.91
10.73
11.08
11.54

9.29
10.17

11.84
11.85
12.06
11.80

9.8S
10.73
11.07
11*51
11.83
11.87

11.74

9.95
10.79
11.13
11.59
11.86 -»
11.90
12.09
11.83

11.19
11.63
11.91
11.92
12.11
11.84

10.00
10.82
11.17
11.63
11.92
1U93
12.13
11.86

11.68

11.71

11.80

11.62

11.83

12.52
13.69

12.53
13.69

12.60

13.71

12.60
13.70

12.67
13.70
13.23

11.98
11.71

9.76
13.20

10.55
11.13
11.44

11.85

11.51
11.70
11.47

11.77

11.81

11.35

12.58
13.70
13.23
9.76
13.20

12.55
13.63
13.14
9.75
13.10

12.13
13.23
12.76
9.65
12.92

12.09

MEEKLY FIGURES ARE AVE1AGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK;
BONTHLI FIGURES INCLUDE EACH CALENDAR DAY IN THE BONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
RATES ON COBBERCIAL PAPBB PLACED FOR FIRBS WHOSE BOND RATING I S AA Ofi THE EQOIVALENT.
BATE CHARGED BY BANKS ON SHOBT-TERB BUSINESS LOANS.
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
ISSUE DATE.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT BATURITIES.
SOUfiCE; O . S . TREASURY.
SEE REVERSE FOR A DESCBIPTON OF THE CONSTANT BATORITY S E t l E S .
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DOE NOfi CALLABLE IN LESS THA» 10 YEARS.
INCLUDING SEVERAL VERY LOW YIELDING "FLOWER" BONDS.
ESTIBATE OF THE YIELD ON A RECEITLY-OFfEBED, A-BATED UTILITY BOND WITH A BATOfillY OF 3 0 YEASS AMD CALL
PBOTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BUYER IMD2X, GENERAL OBLIGATION, 20 YEA&S TO AATOitlTY, flIIED QUALI1Y; TflOESDAI QUOTATIONS.
CONTRACT INTEREST BATES Ol COHfilTHBNTS FOB FIIED-BATE FIRST BOBTGAGES.
SCONCE: FHUIC.

NOTE: WEEKLY AND BONTfiLY FIGUBBS ABB AVERAGES OF DAILY BATES, EICEPT FOB STATE 6 LOCAL BONDS,
IHICH ABE BASED ON THURSDAY FIGURES, AND COMTENTIOMAi flORTGAGES AND A-GTULLTY BOUDS,
BOTH OF WHICH ABE BASED ON FBIDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
MAR :

13
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/

8.52 :
8.60
8.93 :
9.06
9.34 :
2.04

4 WEEKS ENDED

1985 :

MAR
6

:

8.63
8.65
8.99
9.12
9.58
12.11

:
:
:
:
:
:

1985 :

MAR
13

1985

FEB
:

20

8.53 :
8.51
8.07
8.46 :
8.77 :
8.33
8.92 :
8.46
8.77
9.28 :
1 1 . 9 4 •• 11.47

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.