Full text of H.15 Selected Interest Rates : October 26, 1987

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FEDERAL "RESERVE statistical release
These dr.la 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 26, 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 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
BAA

A-UTILITY 10/
STATE 8 LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/

1.
2.
3.
4.
5.
6.
7.
8.

1987
OCT

1987
OCT

1987
OCT

1987
OCT

1987
OCT

19

20

21

22

23

This
week

Last
week

1987
SEPT

7.61

7.07

6.47

7.14

7 .00

7.37

7.59

7 .22

7.99
8.81
8.87

7.27
7.82
7.98

7.14
7.69
7.75

7.02
7.56
7.63

6.87
7.24
7.26

7.26
7.82
7.90

7.86
8.55
8.64

7.26
7.37
7 .55

7.91
8.24
7.76

7.07
7.29
7.13

6.56
6.59
7.00

6.95
7.19
7.04

6.75
6.92
6.76

7.05
7.25
7.14

7.83
8.04
7.63

7.20
7.08
6 .90

8.70
8.76

7.75
7.80

7.50
7.60

7.40
7.46

7.30
7.35

7.73
7.79

8.59
8.66

7.31
7 .48

7.97
9.02
9.27
9.25
6.00

7.51
8.02
8.12
9.25
6.00

7.18
7.65
7.83
9.25
6.00

7.04
7.55
7.69
9.00
6.00

6.91
7.27
7.36
9.00
6.00

7.32
7.90
8.05
9.25
6.00

7.81
8.73
8.95
9.25
6 .00

7.25
7.37
7 .74
8 .70
5.95

6.84
7.21

6.96
7.34

6.32
6.57
6 .74

7.0*
7.61

7.20
7.75

6.53
6.91

6.84
7.21

6.45

7.08
7.61
6.39
7.12
7.38

5.86
6.34
6.64

5.60
6.20
6.54

5.36
6.01
6.53

5.29
6.00
6.49

5.70
6.33
6.72

6.98
7.52
7.70

6.40
t .64
7.11

7.98
8.93
9.32
9.70
10.00
10.15
10.25

7.15
8.09
8.53
8.93
9.23
9.40
9.49

7.03
7.90
8.44
8.80
9.17
9.30
9.44

7.02
7.76
8.19
8.52
8.86
8.97
9.15

6.93
7.76
8.20
8.55
8.88
8.98
9.11

7.22
8.09
8.54
8.90
9.23
9.36
9.49

8.33
9.13
9.43
9.73
9.97
10.11
10.13

7.67
8.34
8.67
8.94
9.26
9.42
9.59

10.22

9.48

9.45

9.16

9.12

9.49

10.10

9.58

11.06
12.04

10.74
11.87

10.70
11.80

10.49
11.65

10.42
11.51
10.80

10.68
11.77
10.80
8.72
11.36

10.73
11.78
11.50
9.17
11.58

10.18
11 .31
10.84
8.26
10.89

8.72
11.36

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 D O^COMMERciAL°PAPER A PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT.
RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS.

9.

AND MONTH AVERAGES ON ISSUE-DATE BASIS.
CONSTANT MATURITIES. SOURCE* U.S. TREASURY.
,„ W i , „ .
_ . MATURITY SERIES. THE 20-YEAR CONSTANT MATURITY YIELD WAS
1986 BECAUSE THE TREASURY NO LONGER ISSUES A 20-YEAR BOND.
ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS,

10.

UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL
BOND BUYER INDtX, utNLKAL U D L I U A I I U H , *u*YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE: FHLMC.
• 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
ARE BASED ON FRIDAY FIGURES.




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 :
OCT :
21

1987 :
OCT .
14

1987 :
OCT
21 :

1987
SEP
23

7.37
6.37
8.34
8.49 :
8.81 -

7.59
6.84 :
8.31
8.47 :
8.69 :

7.49 :
6.60 :
8.00
8.18 :
8.32 :

7.07
6.34
7.24
7.24
7.26

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