Full text of H.15 Selected Interest Rates : October 19, 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 availaDle, on (202) 452-3206.
For immediate release

H.15 (519)

SELECTED INTEREST RATES

OCTOBER 19, 1987

Yields in percent per annum
1987
OCT
12

1987
OCT
13

1987
OCT
14

1987
OCT
15

1987
OCT
16

FEDERAL FUNDS (EFFECTIVE) 1/
M
COMMERCIAL PAPER 2/3/
1-MONTH
A
3-MONTH
R
6-MONTH
K
FINANCE PAPER PLACED DIRECTLY 2/
1-MONTH
E
3-MONTH
T
6-MONTH
BANKERS ACCEPTANCES (TOP RATED) 2/
3-MONTH
C
6-MONTH
L
r\
CDS (SECONDARY MARKET)
\j
1-MONTH
3-MONTH
S
6-MONTH
E
j)
BANK PRIME LOAN \/<\/
DISCOUNT WINDOW BORRONING 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 BONDS"
MOODY'S SEASONED
AAA
10.66
BAA
11.76
A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

7.65

7.59

7.76

7.75
8.41
8.49

7.80
8.43
8.56

7.94
8.72
8.80

7.69
7.80
7.46

7.75
7.88
7.53

8.35
8.46
7.69
8.54
8.75
9.25
6.00

Instruments

This
week

Last
week

1987
SEPT

7.55

7.59

7 .43

7 .22

7.94
8.65
8.72

7.86
8.55
8.64

7.52
8.02
8 .13

7.26
7 .37
7 .55

7.92
8.25
7.53

7.94
8.22
7 .99

7.83
8.04
7.63

7.48
7.45
7 .25

7 .20
7 .08
6 .90

8.55
8.60

8.75
8.83

8.70
8.75

8.59
8.66

8.04
8.17

7.31
7 .48

7.75
8.62
8.83
9.25
6.00

7.89
8.85
9.11
9.25
6.00

7.92
8.90
9.12
9.25
6 .00

7.81
8.73
8.95
9.25
6.00

7.53
8.19*
8 .41
8.82*
6 .00

7.25
7 .37
7 .74
8 .70
5.95

6.96
7.34

6.96
7.34

6.49
6. 96

6.32
6.57
6 .74

7. 20
7.75

7.20
7.75

6.71
7.33

6.53
6 . 91

6.74
7.29
7.56

7.19
7.55
7.72

7.07
7.66
7.78

6.93
7.58
7.74

6.98
7.52
7.70

6.65
7.08
7.50

6.40
6.64
7.11

8.17
8.94
9.22
9.51
9.76
9.90
9.92

8.35
9.14
9.44
9.75
9.99
10.13
10.12

8.42
9.23
9.52
9.82
10.05
10.18
10.24

8.38
9.22
9.52
9.84
10.08
10.23
10.24

8.33
9.13
9.43
9.73
9.97
10.11
10.13

8.10
8.83
9.10
9.39
9.65
9.78
9.84

7 .67
8.34
8.67
8.94
9.26
9.42
9.59

9.92

10.11

10.17

10.20

10.10

9.82

9.58

10.60
11.72

10.70
11.78

10.85
11.82

10.85
11.82
11.50

10.73
11.78
11.50
9.17
11.58

10.48
11.61
11.24
8.66
11.21

10.18
11.31
10.84
8 .26
10.89

9.17
11.58

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK; MONTHLY FIGURES
INCLUDE EACH CALENDAR DAY IN THE MONTH.
RA?ESDONNC§MMER?i!L°PAPERAPLA6ED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.
AUCTIONYATE

'

FE

F £

AUCTioNEDATEEFORNDAS[YNDATl°RWEEK AND MONTH AVERAGES ON ISSUE-DATE BASIS
E

^

^

\^R 1 IP I TON 5 O 1 F S T$ F J C 1 6-NS : ?AN? K T Y ^ E S T I E ? H E I S T E I R C ' O N S T I N T ' K R I T Y YIELD WAS

CAL^LTxS-Hfes THAN >0 YEARS,

OF t \ E HE E Yl E ^ W oJl I rRE^NT[Y O -S E FER| O D" D A-RATED UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL

B ^ T u ^ INDEXyTENER^r^I^IoNlzlYEARS TO MATURITY MIXED QUALITY, THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE: FHLMC.

urPiriY Awn MnNTHlY FTGURES ARE AVERAGES OF DAILY RATES, EXCEPT FCR STATE & LOCAL BONDS, WHICH ARE
B A I E D ON THURSDAY FIGURES? AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS, BOTH OF WHICH
ARE BASED ON TRIDAY FIGURES.
- ,-Piontnly CD rate tor week-ending October 2 was revised to 7.80 percent.
.
* The prime rate increased to 9.25 percent on October 7, not October 6; the average for the week-ending Oct. 9 was 8.82 pe,
:




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY

WEEK ENDED

FEDERAL
3-MONTH
3-MONTH
3-MONTH
3-MONTH

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

4 WEEKS ENDED

1987

1987

1987

OCT
]14

OCT
7

OCT
14

7
6
8
8
8

7
6
7
8

7 46
6 62
7 78
7 88
7.98

59
84
31
47
69

43
62
84
03

*

• 8 24

1987

SEP
16

6
6
7
7
7

94
27
05
13
22

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 , 1 0 . AND 30 YEARS.
THIS METHOD PERMITS ESTIMATION OF THE YIELD FOR A 10-YEAR MATURITY,
FOR EXAMPLE. EVEN I F NO OUTSTANDING SECURITY HAS EXACTLY 10 YEARS
REMAINING TO MATURITY.
* 3-month CD f o r




t h e w e e k e n d i n g Oct 7 was r e v i s e d t o

8.03.