Full text of H.15 Selected Interest Rates : March 18, 1991

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*d|pBi

FEDERAL RESERVE statistical release

iif

•e data are released each Monday. The availability of the release will he jnoounced
when the information
t
-va^ah'e, on %2Qn 452-3236.
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!Sl 1

ate

^

FOP immediate release
March 18, 1991

SELECTED INTEREST RATES
!

1

I n s t ruments
FE'JbRA- HJHOS t E F F E U i > £ r *
COMMERCIAL PAPEf,r 4 5
A-MONTJ,

2 1

!

»*-MONTH
^ »*> !*H
•,-MOsn^
BOXERS ACCEPTANCES *TOP aAicro*
2-MOMlh
S-MGMTf!
•VJS tSECONDARY MARKET) 3 8

4

1991
MAR
12

6*10

6,03

5*98

& >^B
<^«*1
635

*.43

6.42

fe.52

ft, 25
8*26
6.15

a 22
6.11

S.tO
6,17

6.20
a* IS

£,16

6..47

fe 41

».43
& 4?

j
|

1991
MAR

!

^

1991
MAR

1991
MAR
15

This

5-93

5.96

632

6.28
6.22

6.27
6.24
6.20

4,19
**.I7
6. IS

6.IS
c4JQ
6,10

6,. 08
6. OS
6.07

6.18
6.16

6.07
6,06

«,14
6.11

6.42
6 36

636
6*22

•5 . 2 2

6,21
6.23
6,29

635
635
6 38

6.76
6.70
6.69

6.45
6,52
6,51

6.25
6,25
6 38
9.00
6.00

6,19
6.19
6 31
9.00
6.OC5

633
6.33
6.43
9.00
6.00

6.76
6.71
6.71
9.00
6,00

5. 91

5,85
5.91
6,06

6.09
6.06

5.95
5.93
5.85

6.04
6.19

6.04
6,19

6.29
636

6.12
6.20

Last

1991
FEE

6.17

6,47

&92S

63S
6.28

6.75
6.63
6.54

6.53
6.49
6,41

|

1

)

6,61
6,52
6 36

|

6.31
638
6.14

7:

3-MONTH
6-MONTH
EURODOLLAR DEPOSITS UQND0N3 J 9
1-MONTH
3-MONTH
b-MONTH
BANK PRIME LOAN2 3 1 0
.DISCOUNT HINDOH BQRRQNXNG2 l l
U . S . GOVERNMENT SECURITIES
TREASURY B I L L S
AUCTION AVERAGE3 4 1 2
3-MONTH
6-MONTH
1-YEAR
AUCTION AVERAGE1 INVESTMENT ) 1 2
3-MONTH
6-MONTH
SECONDARY MARKET3 4
3-MONTH
6-MONTH
I-YEAR
TREASURY CONSTANT MATURITIES 1 3
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(LONG-TERM) 14
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITY15
STATE & LOCAL BONDS 16
CONVENTIONAL MORTGAGES17




1991
MAR
11

:

6.44
6.44
6,50
9.00
6.00

6.33
fe.58
Is * ^ 4
9,00
6.00

•£«,!•<;

6.38
6.38
6,50
9.00
6,00

.*• = 2 5
6.25

5. as

I

6.50
6.60
6,58
9.05
6*00

5.89
5,92
5.98

5.86
5.91
5.99

5.83
5.84
5.92

5.76
5.77
S.8B

5.80
5.82
5.92

5.83
5.85
5.94

6.05
6.04
6.09

5.94
5.93
5.91

6.37
7.05
7.30
7.71
7.94
8.06
8.23

6.38
7,07
7.33
7.74
7.98
8.09
8.26

6.30
7.00
7,23
7.67
7.91
8.02
8.20

6.26
6.95
7.19
7.64
7.90
8.02
8.20

6 30
7.01
7.26
7.73
7.98
8.10
8.30

6 32.
7.02
7.26
7.70
7.94
8.06
8.24

6.48
7.13
736
7.75
8.00
8.10
8.27

6.27
6.87
7.08
7.47
7.73
7.85
8.03

8,33

8.36

8.30

8.30

839

834

838

8.12

8,90
10.04

8.91
10.06

8.90
10.03

8.89
10.02

8.94
10.08
9.54

8.91
10.05
9.54
7.06
9.50

8.92
10.11
9.62
7.06
9.49

8.83
10.07
9.54
6.91
937

SEE OVERLEAF FOR FOOTNOTES

7.06
9.50

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.
Meekly figures are averages of 7 calendar days ending on Hednesday of the current week?
monthly figures include each calendar day in the month.
Annual!zed 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-date 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: FHLNC.

Note:

Meekly 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 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.