Full text of H.15 Selected Interest Rates : October 15, 1984

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FEDERAL RESERVE statistical release
For immediate release
OCTCB£B 1 5 , 1984

H.15 (519)

SELECTED INTEREST RATES
Yields in percent per annum
Instruments

FEDERAL FUNDS (EFFECTIVE) 1 /
COMMERCIAL PAPEB 2/3/
1-flONTH
3-HONTH
6-MONTH
FINANCE PAPEB PLACED DIBBCTLI 2 /
1-BOUTH
3-MO NTH
6-MONTH
BANKEBS ACCEPTANCES (TCP BATED) 2 /
3-BONTH
6-MONTH
CDS (SECONDABI BABKET)
1-BONTH
3-30NTH
6-HO NTH
BANK PHIHE LOAN 1 / 4 /
DISCOUNT MIKDOi 80BB0HING 1 / 5 /
O . S . GOVERNMENT SECUBUIES
TREASURY BILLS
AUCTION AVEBAGE 2 / 6 /
J-BONTH
6-HONTH
1-YEAB
AUCTION AVEBAGE{INVESTMENT) 6 /
3-HONTH
6-BONTfl
SECONDABf BABKET 2 /

OCT
8

12.75
9.00

2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
>TE.

OCT
10

9*91

Week ending
OCT
OCT
12
5

OCT
11

OCT
12

8.72

10.25

10.02

10.01

11.20

11.30

10.49
10-56
10.57

10.36
10*46
10.50

10.36
10*45
10.48

10.24
10.33
10.41

10.36
10.45
10.49

10.75
10*72
10.71

11.10
11*04
10.94

10.46
10*36
10*32

9.86
10*21
10.19

10.27
10*18
10*17

10.28
10*06
10*05

10.22
10.20
10*18

10.54
10.43
10*40

10.98
10.62
10*56

10.60
10.55

10*50
10.50

10.40
10.45

10*30
10.35

10.45
10.46

10.77
10.69

11.03
10.91

10.68
10*87
11.13
12.75
9*00

10.41
10*73
10.99
12.75
9.00

10.46
10.75
11.00
12.75
9*00

10.37
10.67
10*85
12.75
9.00

10.48
10-76
10*99
12.75
9.00

10.85
11.02
11*24
12.75
9*00

11.20
11.29
11.46
12.97
9.00

10.11
10.21

10*11
10.21

10.23
10*35
10.32

10.41
10.51
10.84

10.52
10*92

10.52
10*92

10.65
11.07

10.83
11. :5

StPT

C
L
0
S

6-iSONTH
1-YEAB
TBEASUBT CONSTANT BATOBITIES 7 / 8 /
1-YEAB
2-YEAB
3-YEAfi
5-YEAB
7-YEAB
10-YEAB
20-IEA*
30-YEAB
C0HP0SI1E
OVEB 10 YEABS{L01G-TEBB) 9 /
COBPOBATE BONDS
flOQDY'S SEASONED
AAA
12.55
BAA
14*15
A-UTILITI 1 0 /
STATE & LOCAL BONDS 1 1 /
CONVENTIONAL UOBTGAGES 1 2 /
1.

OCT
9

10.09
10.20
10*22

10*07
10.17
10.21

9*96
10.09
10*12

9*90
10.01
10*05

10*01
10.12
10*15

10.19
10.30
10*35

10.37
10.47
10.51

11*25
11.87
12*12
12*32
12.43
12*36
12.25
12*18

11.23
11.89
12.13
12*32
12.44
12*36
12.21
12.19

11*12
11.78
12.02
12.23
12.37
12*31
12.18
12*15

11*03
1U72
11.98
12*17
12.32
12*38
12. 12
12.12

11* 16
11.82
12.06
12*26
12.39
12*33
12.19
12*16

11.39
12.03
12.26
12*46
12.56
12.51
12.40
12.31

',1.58
12.20
12.34
12*53
12.60
12*52
12.42
12.29

11.79

11.83

11*80

11.77

11*80

11*98

11.97

12.53
14*13

12,51
14*11

12.52
14.06

12.47
14*02
13.70

12.52
14*09
13.70
10.36
14* 19

12.62
14.21
13.81
10.34
14*18

12.66
14.35
13*36
10.10
14.35

10.36
14. 19

IEEKLI FIGUBBS ABE AVEBAGBS OF 7 CALENDAB DAIS ENDING ON HEDNESDAI OF THE CUfifiENT IEEK*
MONTHLY FIGUBES INCLUDE EACH CAXENDAB DAI IJ THE BONTH.
QUOTED ON EAIK-DISCOBMT BASISBATES ON COHflEBCIAL PAPEB PLACED FOB FIBflS 8H0SB' BOND BATING IS AA OB THE EQUIVALENT.
RATE OJABGED BI BANKS ON SHOBT-TEBB BUSINESS LOANSRATE FOB THE FEDBBAL BESEBVB BANK OF NEI I0BK.
ISSUE DATEYIELDS ON ACTIfELI TBADED ISSUES ADJUSTED TO CONSTANT BATUBITIES. SOUBCE: U.S. TBEASUBI.
SEE BEVEBSE FOB A DESCBIPTON OF THE CONSTANT BATUHITY SEBIES.
UNWEIGHTED AVEBAGE OF ALL ISSUES OUTSTANDING OF B O W S NEITHEH DUE IOB CALLABLE IN LESS THA* 10 YEABS,
INCLUDING SEVEBAL VEBI LOW YIELDING "FLOBEB" BONDS*
ESTIMATE OF THE YIELD ON A BECENTLI-OFFEBED, A-BATED UTILITY BOND IIIH A MA3UBITI OF 30 lEkRS AND CALL
PROTECTION OF 5 IEABS; FBIDAI QUOTATIONS*
BOND BUYEB INDEX, GENEBAL OBLIGATION, 20 YEABS TO BAXUBITI, BIXED QUALITY; THUBSDAY QUOTATIONS*
CONTBACT INTEBEST BATES 01 CCBBITflENTS FOB FIXED-BAIB FIBST BOBTGAGES. SCUBCE: FHXJIC.
WEEKLY AID HONTHLY FIGUBES ABE AVEHAGES OF DAILY BATES, EXCEPT FOB STATE 6 LOCAL BONDS,
HHICH ABE BASED ON THUBSDAI FIGUBES, AND CONVENTIONAL HO1TGAGES AND A-UIILITY BONDS,
BOTH OF iHICH ABE BASED OH FBIDAY FIGUBBS*




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1984 :
OCT :
10
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/

10.01
10.11
10.59
10.89
11.28
12.29

4 WEEKJ5 ENDED

1984
OCT :
3 :
11.20
10.21
10.73
10.99
11.41
12.38

:
:
:
:
:
:

1984 ::
OCT :
10 :

1984
SEPT
19

.:
:
::
•:
::
:

11.54
10.51
11.21
11.47
11.83
12.57

10.85
10.23
10.81
11.07
11.45
12.32

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 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, 4, 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.