Full text of H.15 Selected Interest Rates : October 20, 1986

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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.
H.15 (519)

For immediate release

SELECTED INTEREST RATES

OCTOBER 20, 1986

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 WINDON BORROHING 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
20-YEAR
30-YEAR

1986

1986

1986

1986

"fUU

OCT

OCT

OCT

OCT

TnlS

13

14

15

16

17

week

M

5.95

5.93

5.89

5.84

5.83

5.75

5.89

A

5.70
5.64
5.57

5.73
5.65
5.57

5.74
5.66
5.58

5.74
5.68
5.62

5.73
5.66
5.59

5.67
5.61
5.53

5.74
5.68
5.61

K

5.76
5.50
5.44

5.76
5.51
5.44

5.76
5.50
5.44

5.78
5.59
5.51

5.77
5.53
5.46

5.67
5.53
5.50

5.76
5.61
5.54

E

5.50
5.46

5.57
5.50

5.63
5.60

5.70
5.65

5.60
5.55

5.43
5.36

5.60
5.56

Ti

5.66
5.64
5.64
7.50
5.50

5.65
5.67
5.67
7.50
5.50

5.72
5.69
5.68
7.50
5.50

5.78
5.76
5.76
7.50
5.50

5.70
5.69
5.69
7.50
5.50

5.62
5.59
5.59
7.50
5.50

5.73
5.71
5.71
7.50
5.50

f

5.13
5.22

5.13
5.22

5.08
5.13

5.19
5.31
5.33

5.27
5.44

5.27
5.44

5.22
5.34

5.34
5.54

1

sal

Last

R

\j

L
0
c
o

E
D

rnMPncTTP
uuFirU«>i i c

OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDS
MOODY'S SEASONED

AAA
BAA

1986
SEPT

1986

OCT

8.88
10.21

5.14
5.17
5.37

5.18
5.28
5.38

5.20
5.29
5.40

5.27
5.37
5.48

5.20
5.28
5.41

5.05
5.10
5.27

5.21
5.35
5.45

5.69
6.26
6.54
6.82
7.29
7.49
7.68
7.79

5.70
6.27
6.58
6.87
7.32
7.51
7.69
7.78

5.72
6.29
6.58
6.87
7.34
7.53
7.71
7.81

5.81
6.38
6.67
6.94
7.38
7.57
7.75
7.84

5.73
6.30
6.59
6.88
7.33
7.53
7.71
7.81

5.57
6.14
6.43
6.72
7.13
7.31
7.50
7.59

5.77
6.35
6.62
6.92
7.28
7.45
7.56
7.62

8.14

8.15

8.15

8.20

8.16

7.97

8.08

8.88
10.20

8.88
10.20

8.89
10.23

8.89
10.25
9.52

8.88
10.22
9.52
7.08
9.96

8.86*
10.20*
9.55
7.06
9.99

8.89
10.20
9.56
7.11
10.01

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

7.08
9.96

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE MONTH.
RATES%rCOMMERCIAL°PAPER A PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT7TERMBUSINESS LOANS.
AND MONTH AVERAGES ON ISSUE-DATE BASIS.

^Ei^SEJoRADEI^

E S ^ S ^ H E ^

1986 THAT IT NO LONGER WILL ISSUE 20-YEAR BONDS.
9.

K

I

APRIL 30,

CONSEQUENTLY,THE 20-YEAR CONSTANT MATURITY RATE IS
CALLABLE IN LESS THAN 10 YEARS,

UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL
PROTECTION
BOND BUYER
111.
1.
BUND
B U Y t K J L N U t A , UCNCKAL U D L 1 U A I 1 U N , CU l t H I \ J i u H H I U I M I i > I I X / N I - * / ^ v / r ^ . * . . ,
' "Z.
"••• ^'^
12. 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 & t9 C 2L£!? N D S '
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BONDS,
BOTH OF WHICH ARE BASED ON FRIDAY FIGURES.
0.

*AAA DAILY FOR OCTOBER 10TH WAS 8.88.

BAA WAS 10.20.


AVERAGE FOR WEEK ENDING OCTOBER 10TH FOR AAA WAS 8.86 AND FOR

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

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 WEEKS ENDED

1986 :
OCT
15

1986
OCT •
8

5.83
5.11
5.63
5.63
5.79
7.61

5.75
5.09
5.66
5.64
5.84
7.49

:
:
:
:

1986 :
OCT :
15 :

1986
SEPT
17

5.87
5.17
5.70
5.71
5.90
7.59

5.83
5.21
5.64
5.66
5.84
7.50

:
:
:
:
:

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.