Full text of H.15 Selected Interest Rates : March 25, 1985 : Corrected copy

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FEDERAL RESERVE statistical release
H.15 (519)

For immediate release
MARCH 2 5 ,

SELECTED INTEREST RATES
Yields In percent per annum

Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COHHERCIAL PAPEfi 2 / 3 /
1-HOMTH
3-BONTH
6-BO NTH
FINANCE PAPEfi PLACID DIRECTLY 2 /
1-HONTH
3-MONTH
6-HONTH
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-HO NT B
6-HONTH
CDS (SECONDABt MARKET)
1-HONTH
3-HONTH
6-HONTH
BANK PRIME LOAN
1/4/
DISCOUNT U N D O ! BORROWING 1 / 5 /
U . S . GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVEBAGB 2 / 6 /
3-MONTB
6-MOHTH
1-XEAR
AUCTION AVERAGE (UlfESTMENT) 6 /
3-HONTB
6-HONTH
SECONDARY MARKET 2 /
3-MONTB
6-HONTH
1-TEAR
TREASURY CONSTANT MATURITIES 7 / 8 /
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
20-YEAfi
30-YEAR
COMPOSITE
OVER 10 YEARS (LONG-TERM) 9 /
CORPORATE BONDS
HOODY*S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /
1.
2.
3.
4.
5.
6.

7.
8.
9.
10.
11.
12.

1985

CORRECTED COPY

MAR

I

Week ending
HAR
HAR
15
22

FEB

8.61

8.75

8.52

8.50

8.64
8.78
9.13

8.65
8.77
9.C9

8.72
8.86
9.21

8.77
8.93
9.26

8.46
8.54
8.69

8.63
8.68
8,75

8.55
8.59
8.67

8.53
8.61
8.67

8.65
8.68
8.73

8.75
8.67
8.64

8.42
8.25
8.20

8.90
9.30

8.80
9.15

8.75
9.05

8.75
9. 10

8.83
9.19

8.90
9.27

8.55
8.69

8.84
9.13

8.74
9.00
9.61
10.50
8.00

8.64
8.88
9.41
10.50
8.00

8.68
8. SO
9.39
10.50
8.00

8.74
9.01
9.58
10.50
8.00

8.74
9.04
9.62
10.50

8.50
8.69
9.04
10.50
8.00

8.64
9.04
9.24

8.64
9.04
9.24

8.48
8.79

8.22
8.34
8.46

8.96

8.96
9.60

8.79
9.33

8.51
8.83

8.51
8.96
9.15

8.55
8.95
9.09

8.27
8.39
8.56

MAR

MAR

HAS

18

HAR
19

20

21

22

8.62

8.62

8.49

8.60

8.81
8.95
9.28

8.80
8.95
9.34

8.71
8.85
9.23

8.80
8.74
8.74

8.75
8.78
8.80

8.95
9.33
8.80
9.12
9.74
10.50
8.00

9.75
10.50
8.00

9.60

8.00

9.02
9.21

8.53
8.96
9.17

8.44
8.84
9.03

8.51
8.90
9.08

12.02
12.21
11.97

10.04
10.85
11.19
11.67
11.97
11.99
12.19
11.93

10.00
10,85
11.17
11.62
11.90
11.91
12.08
11.84

9.84
10.69
11.02
11.48
11.78
11.82
12.02
11.77

9.89r
10.75
11.05
11.55
11.83
11.P8
12.07
11.83

9.97r
10.81
11.13
11.60
11.90
11.92
12.11
11.87

9.91
10.73
11.08
11.54
11.84
11.85
12.06
11.80

9.29
10.17
10.55
11. 13
11.44
11.51
11.70
11.47

11.91

11.88

11.80

11.75

11.79

11.83

11.77

11.35

12.69
13.78

12.66
13.79

12.61
13.74

12.66
13.73

12.59
13.73
13,21

12.64
13.75
13.21
9.82
13.34

12.58
13.70
13.23
9.76
13.20

12.13
13.23
12.76
9.65
12.92

8.51
9.06
9.25
10.09
10.89
11.22
11.70
12.00

8.55

9.82
13.34

WEEKLY FIGURES ARE AVERAGES OF 7 CALEIDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE HONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
RATES ON COMMERCIAL PAPEH PLACED FOR FIRMS WHOSE BOND RATING I S AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
RATE FOR TBE FEDERAL RESERVE BANK OF NEW YORK.
ISSUE DATE.

YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES. SOURCE: U.S. TREASURY.
SEE REVERSE FOR A DBSCRIPTON OF THE CONSTANT MATURITY SERIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE HOR CALLABLE IN LESS THAN 10 YEARS,
INCLUDING SEVERAL VERY LOW YIELDING "FLOWER" BONDS.
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 QUOTAT1OHS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE: FHLHC.

NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE & LOCAL BONDS,
aHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS,
BCTH OF IHICH ARE BASED ON FRIDAY FIGURES.




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

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/

4 WEEKS ENDED

1985 :
MAR :
20 :

1985 :
MAR :
13 :

MAR

1985 :

8.75 8.54 :
8.98 :
9.13 :
9.33
12.14 :

8.52 :
8.60
8.93 :
9.06
9.34 :
12.04 •

8.58
8.55 :
8.89
9.04 :
9.37
12.07 :

20

1985

FEB
:

27
8.50
8.24
8.50
8.65
9.00
11.65

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.
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 M E 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.