Full text of H.15 Selected Interest Rates : November 23, 1987

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FEDERAL RESERVE statistical release
These data are released each Monday. The availability of the release will
be announced, when the information is available, on (202) 452-3206.
For immediate release

H.15 (519)

SELECTED INTEREST RATES

NOVEMBER 23, 1987

Yields in percent per annum

Instruments
FEDERAL FUNDS (EFFECTIVE) 1/
COMMERCIAL PAPER 2/3/
1-MONTH
3-MONTH
6-MONTH
FINANCE PAPER PLACED DIRECTLY 2/
1-MONTH
3-MONTH
6-MONTH
BANKERS ACCEPTANCES (TOP RATED) 2/
3-MONTH
6-MONTH
CDS (SECONDARY MARKET)
1-MONTH
3-MONTH
6-MONTH
BANK PRIME LOAN 1/4/
DISCOUNT WINDOW BORROWING 1/5/
U.S.GOVERNMENT SECURITIES
TREASURY BILLS
AUCTION AVERAGE 2/ 6/
3-MONTH
6-MONTH
1-YEAR
AUCTION AVERAGE(INVESTMENT) 6/
3-MONTH
6-MONTH
SECONDARY MARKET 2/
3-MONTH
6-MONTH
1-YEAR
TREASURY CONSTANT MATURITIES 7/8/
1-YEAR
2-YEAR
3-YEAR
5-YEAR
7-YEAR
10-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDSMOODY'S SEASONED

AAA
BAA

1987

1987

1987

1987

1987

NOV
16

NOV
17

NOV
18

NOV
19

NOV
20

7.11

6.72

6.46

6.82

6.74

6.84
7.13
7.13

6.87
7.16
7.16

6.74
7.12
7.13

6.76
7.15
7.17

6.81
6.93
6.77

6.77
6.92
6.82

6.69
6.96
6.75

7.05
7.05

7.11
7.11

6.74
7.16
7.27
8.75
6.00

6.83
7.25
7.36
8.75
6.00

Last
week

OCT

6.77

6.68

7.29

6.73
7.12
7.13

6.79
7.14
7.14

6.72
7.04
7 .05

7.38
7.89
7 .96

6.67
6.91
6.72

6.65
6.83
6.65

6.72
6.91
6.74

6.65
6.81
6.74

7.28
7 .40
7 .17

7.10
7.10

7.02
7.00

7.03
7.02

7.06
7 .06

6.94
6 .95

7.85
7 .92

6.76
7.17
7.27
8.75
6.00

6.76
7.18
7.31
8.75
6.00

6.72
7.15
7.25
8.75
6.00

6.76
7.18
7.29
8. 75
6.00

6.70
7.13
7 .21
8.75
6 .00

7.39
8.02
8 .19
9 . 07
6 . 00

6.01
6.33

5.74
6.24

6 .40
6.86
6 .89

6.20
6.63

s.y2
6 .55

6 .61
7 .23

5.78
6.27
6.54

5.78
6.26
6.49

6.13
6.69
7 .05

7.01
7.72

6.96
7.67
7.96
8.30
8.64

6.01
6.33
6.48
6.20
6.65
5.87
6.40
6.64

5.88
6.27
6.57

5.77
6.25
6.54

5.66
6.17
6.50

6.24
6 .44

7.13
7.78
8.02
8.34
8.66
8.82
8.90

7.06
7.73
7.99
8.38
8.70
8.86
8.94

7.02
7.74
7.99
8.38
8.68
8.85
8.94

6.98
7.69
7.95
8.34
8.65
8.83
8.92

6.88
7.66
7.93
8.32
8.61
8.79
8.88

7.98
8.35
8.66
8.83
8.92

8.89

7.59
8.40
8.75
9.08
9.37
9.52
9.61

8.97

9.00

9.00

8.99

8.93

8.98

8.94

9.61

9.95
11.21

9.97
11.22

9.97
11.22

9.99
11.23

9.96

9.97
11.22
10.31
7.91
10.60

9.97
11.18
10.38
8.03
10.66

10.52
11.62
11. 07
8 .70
11.26

A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

5.72

11.22
10.31

7.91
10.60

^rf,,Ll?H5LfcL^ES^SE?.0F

1987

This

IUAAL

7 CALENDAR DAYS

8.80

ENDING ON WEDNESDAY OF THE CURRENT WEEK; MONTHLY FIGURES

INCLUDE EACH CALENDAR DAY IN THE MONTH.
QUOTED ON BANK-DISCOUNT BASIS.
RATES ON COMMERCIAL PAPER PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK.
AUCTION DATE. AUCTION DATE FOR DAILY DATA; WEEK AND MONTH AVERAGES ON ISSUE-DATE BASIS.
YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES.
SOURCE: U.S. TREASURY.

E&ssi/s? ^E^T°?°

F

K

^

^

R

^s E uin E ^-? o EA N i T gss D M A T U R l T Y YIELD WAS

BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10YEARS
11.
12.

'

BOND BUYER INDEX, GENERAL OBLIGATION, 20 YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES.
SOURCE: FHLMC.

NOTE: WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOR STATE & LOCAL BONDS, WHICH ARE
BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS, BOTH OF WHICH
APF RA«lFn nN FRTHAY FTfJMPF*;




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUh
WEEK ENDING WEDNESDAY
WEEK ENDED
1987
NOV
18
FEDERAL
3-MONTH
3-MONTH
3-MONTH
3-MONTH

FUNDS (EFFECTIVE) 1/
TREASURY BILL 2/
COMMERCIAL PAPER 2/
CD (SECONDARY MARKET)
EURODOLLAR 3/

6.77
5.85
7.10
7.17
7.38

.
:
:
:

4 WEEKS ENDED

1987 :
NOV :
11 :

1987 :
NOV :
18 :

1987
OCT
21

6.68
5.67
7.01
7.08
7.23

6.73 :
5.55 :
7.20 :
7.29 :
7.48 :

7.49
6.60
8.00
8.15
8.35

:
.
.:
:
:

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.

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, 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.