Full text of H.15 Selected Interest Rates : May 13, 1985

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FEDERAL RESERVE statistical release
For immediate release
BAT 13 # 1985

H.15 (519)

SELECTED INTEREST RATES
Yields in percent per annum
Instruments

FEDERAL PONDS (EFFECTIVE) 1 /
COMMERCIAL PAPEB 2 / 3 /
1-MONTH
3-MONTH
6-MONTH
FINANCE PAPER PLACEO DIBECTLI 2 /
1-MONTH
3-HONTH
6-MONTB
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-NONTH
6-BONTH
COS (SECONDARY BASKET)
1-SO NTH
3-MONTH
6-HONTH
BANK p a i B E LOAM
1/4/
DISCOUNT IINDOtf BORROWING 1 / 5 /
U.S.GOVERNMENT S E C O B I I I f S
TREASURY BILLS
AUCTION AVEBAGB 2 / 6 /
3-BONTH
6-HO NT B
1-YEAB
AOCTION AVEBAGB (IBVBSIBEBT) 6 /
3-HOHTH
6-HONTH
SECONDARY flAfiKET 2 /
3 - BONTB
6-HONTfl
1-YEAB
TR2ASDBY CONSTAIT HATDEITIES 7 / 8 /
1-IEAB
2-YEAR
3-YEAB
5-YBAB
7-YEAB
10-YEAR

20-YEAB
30-TEAB
COHPOSITE
OVER 10 YEABS(L01G-TEBB)9/
COBPOBATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITI 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL MOBTGAGES 1 2 /

Week ending

HAT
6

HAT
7

BAY
8

BAT
9

BAY
10

BAY
10

BAY
3

h£R

7.97

7.98

7.71

8.08

8.18

8.19

8.35

8.27

8.00
8.05
8.15

8.00
8.03
8.11

7.97
8.03
8.10

8.00
8.05
8.10

8.01
8.04
8.09

8.00
8.04
8.11

8. 15
8.19
8.31

8.31
8.37
8.47

7.96
7.98
7.96

8.00
7.98
7.95

7.86
7.84
7.91

8.00
7.94
7.91

8.04
7.95
7.91

7.97
7.94
7.93

8.16
8.02
7.96

8.29
8.26
8.27

8.05
8.05

8.02
8.03

8.05
8.07

8.02
8.05

7.98
7*98

8.02
8.04

8. 14
8.26

8.33
8.42

8.01
8.15
8.32
10.50
8.00

8.00
8.12
8.32
10.50
8.00

8.04
8.14
8.30
10.50
8.00

8.02
8.16
8.30
10.50
8.00

8.01
8. 14
8.29
10.50
8.00

8. 17
8.29
8.57
10.50
8.00

8.35
6.49
8.75
10.50
8.00

7.76
7.93

7.76
7.93

7.87
8.11

8.00
8.31
8.44

8.03
8.38

8.03
8.38

8.14
8.57

8.27
8.80

8.00
8.12
8.23
10.50
8.00

i

7.73
7.93
8.11

7.76
7.90
8.08

7.82
7.96
8.12

7.74
7.91
8.09

7.73
7.88
8.05

7.76
7.92
8.09

7.78
8.03
8.25

7.95
8.23
8.44

8.76
9.70
10. 15
10.71
11.07
11.19
11.49
11.30

8.72
9.66
10.04
10.68
11.06
11.17
11.49
11.29

8.76
9.73
10.11
10.74
11.17
11.26
11.59
11.39

8.73
9.67
10.04
10.68
11.08
11.20
11.52
11.34

8.68
9.62
9.95
10.57
10.93
11.04
11.37
11.20

8.73
9.68
10.06
10.68
11.06
11.17
11.49
11.30

8.92
9.85
10.32
10.85
11.21
11.33
11.62
11.41

9. 14
10.09
10.49
11.01
11.34
11.43
11.69
11.47

11.23

11.22

11.31

11.25

11.12

11.23

11.35

11.42

12.06
13.40

12.05
13.39

12.09
13.41

12.03
13.39

11.91
13.34
12.49

12.03
13.39
12.49
9.11
13.02

12.15
13.44
12.56
9.37
13.07

12.23
13.51
12.75
9.42
13.20

9.11
13.02

1.

WEEKLY FIGURES ABE AVBBAGBS OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF TIE COBBENT BEEI;
!!OSTSLT FIGQESS ISCIQQI EACH CUSMQAB D»I I I T3S SGlTB,

2.
3.
4.
5.
6.

QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COBHBBCIAL PAPEB PLACED FOB FIRHS WHOSE BOND BATING I S AA OB TBE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TEfifl BUSINESS LOANS.
RATE FOB TBS FEDEBAL BESEBVE BANI OF NES YORK.
ISSUE DATE.

7.
8.
9.

YIELDS O§ ACTIVELY TBADSD ISSUES ADJUSTED TO CONSTANT MATURITIES. SOOBCB: U.S. TREASURY.
SEE REVERSE FOB A DESCBIPTON OF THE CONSTANT BATUBITY SERIES.
UNWEIGHTED AfEBAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHEB DUB NQB CALLABLE IB LESS THAN 10 YEARS,
INCLUDING SEVEBAL VEBY LOI YIELDING "FLOWEB" BONDS.
ESTIMATE OF TBS YIELD ON A BECENTLY-OFfEBBD, A-RATED UTILITY BOND fITH A MATURITY OF 30 YBABS AND CALL
PROTECTION OF 5 YEABS; FRIDAY QUOTATIONS.
BOND BUYEB INDBX, GENEBAL OBLIGATION, 20 YSABS TO MATUBITY. BIXED QUALITY; TBUBSDAI QUOTATIONS.
CONTBACT INTEREST BATES 01 COMMITMENTS FOB FUED-RATE FIBST MORTGAGES. SOURCE: FHLBC.

10.
11.
12.

NOTE: WEEKLY AND BCNTHLY FI6UBES ABE AVEBAGBS OF DAILY BATES, EXCEPT FOB STA1E S LOCAL BONDS,
WHICH ABB BASBD ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS,
BOTH OF WH2CB ABE BASED 01 FBIDAY FIGURES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
MAY :
8 :
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/

8.19
7.76
8.09
8.19
8.44
11.52

•
•
:

4 WEEKS ENDED

1985 :
MAY :
1 •:
8.35
7.82
8.16
8.27
8.58
11.67

•
:
:
:
:
:

1985 :
MAY :
8 :

APR

1985

8.18 •
7.82 :
8.19 :
8.30 :
8.55 :
11.57 :

8.49
8.17
8.63
8.74
8.98
11.86

17

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.
A. 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 M S EXACTLY 10 YEARS
REMAINING TO MATURITY.