Full text of H.15 Selected Interest Rates : May 20, 1985

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FEDERAL RESERVE statistical release
H.15(519)

For immediate release
HAY 20,
1985

SELECTED INTEREST RATES
Yields in percent per annum

Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COaflERCIAL PAPEB 2 / 3 /
1-SONTH
3-80NTH
6-HONTH
FINANCE PAPEB PLACED OIBECTLT 2 /
1-HONTH
3t-H0NTH
6-HONTH
3ANKERS ACCEPTANCES (TOP BATED) 2 /
3-flONTH
6-SOKTH
COS (SECONDABI BABKBT)
1-HONTH
3-flONTH
b-HONTH
BANK PRIflB LOAM
1/4/
DISCOUNT WINDOH BOHBOilBG 1 / 5 /
0 . S. GOVERNMENT SECUBITIES
TBEASURI BILLS
AOCTIOtf AVEHAGE 2 / 6 /
3-BO IT B
6-80HTB
1-YBAH
AUCTION AVEBAGE(IBVESTBENT) 6 /
3-HO NT B
6-BONTH
SECONDABI HABIET 2 /
3-HO NTH
6-HONTB
1-YEAB
TBEASOBI CONSTANT BAIOBITIES 7 / 8 /
1-YEIB
2-IEAB
3-YEAB
5-YEAB
7-YEAB
10-YEAB
20-IEAB
30-YEAB
COflPCSIIE
OVEB 10 YEABS(LOSG-TEBH) 9 /
COBPOBATE BONDS
flGODY'S SEASONED
AAA
BAA
A-UTILITI 1 0 /
SIATE & LOCAL BONDS 1 1 /
CONVENTIONAL BOBTGAGES 1 2 /

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

Week ending

APB

HAT
13

HAI
14

HAT

HAT
16

HAT
17

OAI

RAX

15

17

10

8.16

8.02

8.17

8.24

8.00

8.14

8.19

8.27

8.00
8.01
8.04

7.98
8.00
8.03

7.90
7.93
7.94

7.90
7.93
7.91

7.87
7.87
7.88

7.93
7.95
7.96

8.00
8.04
8.11

8.31
8.37
8.47

7.80
7.80
7.76

7.60
7.60
7.75

7.72
7.72
7.68

7.82
7.83
7.77

7.77
7.80
7.74

7.74
7.75
7.74

7.97
7.94
7.93

8.29
8.26
8.27

7.97
8,01

7.88
7.85

7.80
7.80

7.76
7.78

7.80
7.82

7.84
7.85

8.02
8.04

8.33
8.42

8.01
8.12
8.28
10.50
8.00

8.00
8.12
8.25
10.50
8.00

7.96
8.01
8.10
10.50
8.00

7.95
8.00
8.08
10.50
8.00

7.93
7.95
8.06
10.50
8.00

7.97
8.04
8.15
10.50
8.00

8.01
8. 14
8.29
10.50
8.00

7.69
7.90
7.94

7.69
7.90
7.94

7.76
7.93

8.00
8.31
8.44

7.95
8.34

7.95
8.34

8.03
8.38

8. 27
8.80
7.95
8.23
8.44

8.35
8.49
8.75
10.50
8.00

7.71
7.89
8.06

7.60
7.76
7.95

7.43
7.62
7.87

7.37
7.56
7.78

7.40
7.59
7.84

7.50
7.68
7.90

7.76
7.92
8.09

8.69
9.64
9.95
10.56
10.93
11.04
11.36
11.20

8.58
9.47
9.79
10.39
10.78
10.87
11.23
11.07

8.49
9.40
9.74
10.39
10.78
10.89
11.24
11.08

8.38
9.31
9.62
10.28
10.69
10.81
11.17
11.02

8.45
9.37
9.65
10.32
10.72
10.84
11. 18
11.05

8.52
9.44
9.75
10.39
10.78
10.89
11.24
11.08

8.73
9.68
10.06
10.68
11.06
11. 17
11.49
11.30

9.14
10.09
10.49
11.01
11.34
11.43
11.69
11.47

11.11

10.98

11.00

10.94

10.96

11.00

11.23

1 1.42

11.89
13.33

11.80
13.27

11.79
13.25

11.71
13.19

11.65
13.18
12.24

11.77
13.24
12.24
8.86
12.94

12.03
13.39
12.49
9.11
13.02

12-23
13.51
12.75
9. 42
1 3.20

8.86
12.94

WEEKLY FIGOBES ABE AVERAGES OF 7 C1LBIDAB DATS ENDIIG ON WEDNESDAY OF TBE COBBENT MEEK;
MONTHLY FIGOBES INCLUDE EACH CALENDAB DAT IN THE HONTH.
JOCTED ON BANK-DISCOUNT B A S I S .
BATES ON COHHEBCIAL PAPEB PLACED FOB FIHHS HHOSB BOND BITING I S AA OB TBE EQUIVALENT.
BATE CHABGED BY BANKS ON SHOBT-TEBH BUSINESS LOANS.
BATE FOB THE FEDEBAL BESEfifE BANK OF NEB YOBK.
ISSUE DATE.
YIELDS ON ACTITELY TBADED ISSUES ADJUSTED TO CONSTANT HATUBITIES.
SOUBCE: U . S . TREASURY.
SE2 REVBBSE FOB A DESCBIPTON OF THE CONSTANT BATDBITY SEBIES.
UNWEIGHTED ATEBAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHEB DUE NOB CALLABLE IN LESS THAI 10 YEABS,
INCLUDING SETEBAL VEST LOi YIELDING "FLOMEB" BONDS.
ESTIMATE OF THE YIELD ON A BECENTLI-OFfEBED # A-BATED UTILITT BOND WITH A HAIDBITY OF 30 YEABS AND CALL
PBOTECTION OF 5 YEABS; FBIDAI QUOTATIONS.
BOND BUYEB INDEX, GENEBAL OBLIGATION, 20 YEABS TO HATOBITT, HIXE9 QUALITY; THUBSDAY QUOTATIONS.
CONTBACT INTEBEST RATES ON COHHITHENTS FOB FIXED-RATE FIBST HORTGAGES.
SOUBCE: FHLHC.

NOTE: WEEKLI AND HONTHLT FIGOBES ABE A7EBAGES OF DAILY RATES, EXCEPT FOR STATE & LOCAL BONDS,
WHICH ABE BASED ON THOBSDIY FIGUBES, AND CONVENTIONAL flORTGAGES AND A-OTILITY BONDS,
BOTH OF WHICH ABE BASED ON FBIDAY FIGUBES.




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1985 :
MAY :
15 :
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/

1985 :
MAY :
8 :

4 WEEKS ENDED
1985 :
MAY :
15 :

8.14 ;
8.19 : 8,.09
7.64 • 7.76 . 7.74
8.01 : 8.09 : 8.08
8.11 : 8.19 • 8.19
8.20 : 8.44 : 8.43
11.34 •. 11.52 • 11.51

1985
APR
24

: 8.32
: 8.00
: 8.46
: 8.58
: 8.80
: 11.73

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.