Full text of H.15 Selected Interest Rates : May 6, 1985

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FEDERAL RESERVE statistical release
For immediate release
HAY
6 # 1985

H.15(519)

SELECTED INTEREST RATES
Yields in percent per annum

Instruments

FEDEBAL FUNDS (EFFECTIVE) 1 /
COBBEBCIAL PAPEB 2 / 3 /
1-BONTB
3-flOSTH
6-BONTH
FINANCE PAPER PLACED DIBECTLI 2 /
1-BONTH
3-HONTH
6-IIO NTH
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-BO NTH
6-BO NTH
CDS (SECONDARY BARKET)
1-BONTH
3-MONTH
6 - B 0 8TH
BANK PBIBE LOAN
1/4/
DISCOUNT SINDOW BORROWING 1 / 5 /
U . S . GOVERNBENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2 / 6 /
3-BONTH
6-BONTH
1-YEAB
AUCTION AVERAGE (INVESTMENT) 6 /
3-BONTH
6-BONTH
SECONDARY HARKET 2 /
3-BONTH
6-MONTB
1-YEAR
TREASURY CONSTANT MATURITIES 7 / 8 /
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(LONG-TERH)9/
CORPORATE BONDS
MOODY«S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL MORTGAGES 1 2 /

Week ending
BAY

BAY

BAY

29

APfi
30

1

2

3

6.41

8.58

8.83

6.83

8.11
8.17
8.34

8.15
8.20
8.38

8.19
8.22
8.35

8.15
8.06
7.93

8.18
8.05
7.98

8.15
8.35

8. 15
8.35

APR

8.14
8,30
8.66
10.50
8.00

8.23
8.33
8.64
10.50
8.00

7.84
8. 12
8.37

7.85
8. 11
8.31

9.07
9.97
10.47
10.96
11.35
11.47
11.77
11.54

BAY
3

APR
26

APR

8.26

8.35

7.69

8.27

8.18
8.20
8.27

8.13
8. 15
8.22

8. 15
8. 19
8.31

7.99
8.08
8.20

8.31
8.37
8.47

8.19
8.00
7.93

8.20
8.02
7.98

8.10
7.97
7.96

8.16
8.02
7.96

8.00
7.95
7.90

8.29
8.26
8.27

8.15
8.25

8.15
8.25

8.08
8. 10

8. 14
8.26

8.07
8.18

8.33
8.42

8.17
8.29
8.58
10.50
8.00

8.19
8.31
8.58
10.50
8.00

8. 14
8.21
8.40
10.50
8.00

8. 17
8.29
8.57
10.50
8.00

8.02R*
8.20
8.46
10.50
8.00

8.35
8.49
8.75
10.50
8.00

7.87
8.11

7.87
8.11

7.62
7,87

8.00
8.31
8.44

6.14
8.57

8.14
8.57

7.88
8.31

8.27
8.80

7.75
8.01
8.22

7.76
8.03
8.24

7.72
7.90
8.09

7.78
8.03
8.25

7.77
8.00
8.22

7.95
8.23
8.44

8.99
9.91
10.39
10.91
11.31
11.41
11.70
11.48

8.89
9.82
10.28
10.81
11. 15
11.27
11.56
11.37

8.91
9.86
10.31
10.83
11.17
11.29
11.55
11.36

8.73
9.71
10.17
10.74
11.09
11.21
11.50
11.31

8.92
9.85
10.32
10.85
11.21
11.33
11.62
11.41

8.89
9.84
10.29
10.79
11. 16
11.27
11.58
11.36

9.14
10.09
10.49
11.01
11.34
11.43
11.69
11.47

11.47

11.43

11.32

11.31

11.24

11.35

11.31

11.42

12.22
13.45

12.18
13.46

12.16
13.43

12.11
13.45

12.08
13.42
12.56

12, 15
13.44
12.56
9.37
13.07

12.09
13.41
12.65
9. 39
13. 12

12.23
13.51
12.75
9.42
13.20

9.37

13.07

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT B A S I S .
2.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS WHOSE BOND RATING I S AA OR THE EQUIVALENT.
3.
EATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
4.
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
5.
I S S U E DATE.
6.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES.
SOURCE: U . S . TREASURY.
7.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATURITY S E R I E S .
8.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NQR CALLABLE IN LESS THAN 10 YEARS,
9.
INCLUDING SEVEKAL VERY LOW YIELDING "FLOWER" BONDS.
ESTIMATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BOND WITH A MATURITY OF 3 0 YEARS AND CALL
10.
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BUYER INDEX, GENERAL OBLIGATION, 2 0 YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
11,
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES.
SOURCE: FHLHC.
12.
*
T h e daily rate for April 25 was r e v i s e d to 8 . 0 4 .
NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATFS, EXCEPT FOR STATE £ LOCAL BONDS,
MHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES ASD A-DTILITY BONDS,
BOTH OF WHICH ARE BASED ON FRIDAY FIGURES.
1.




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

8.35
7.82
8.16
8.27
8.58
11.67

1985
APR :

24

1
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 WEEKJ5 ENDED

:
:
:
:

7.69
7.74
8.07
8.20
8.49
11.49

:
:
:
-

1985 :
MAY :
1 :
8.24
7.91
8.32
8.45
8.69
I1.67

:
:
:
:
:
:

1985

APR
10
8.57
8.31
8.77
8.89
9.13
12.00

1. FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR
SEVEN CALENDAR DAYS ENDING ON WEDNESDAY.
2. QUOTED ON BANK DISCOUNT BASIS, tf
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.