Full text of H.15 Selected Interest Rates : October 27, 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.
For immediate release

H.15 (519)

SELECTED INTEREST RATES

OCTOBER 27, 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 \/<\/
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
20-YEAR
30-YEAR
COMPOSITE
OVER 10 YEARS(L0NG-TERM)9/
CORPORATE BONDS
MOODY'S SEASONED
AAA

BAA
A-UTILITY 10/
STATE & LOCAL BONDS 11/
CONVENTIONAL MORTGAGES 12/
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

1986
SEPT

1986

1986

1986

1986

1986

OCT
20

OCT
21

OCT
22

OCT
23

OCT
24

5.91

5.86

6.17

5.94

5.83

5.91

5.83

5.89

5.79
5.74
5.69

5.78
5.74
5.69

5.79
5.75
5.69

5.76
5.73
5.68

5.77
5.73
5.66

5.78
5.74
5.68

5 . 73
5.66
5.59

5.74
5.68
5.61

5.81
5.58
5.49

5.80
5.58
5.49

5.81
5.53
5.49

5.7 5
5.58
5.49

5.77
5.59
5.49

5.79
5.57
5.49

5 .77
5.53
5.46

5 .76
5.61
5.54

5.72
5.70

5.70
5.69

5.68
5.61

5.63
5.58

5.64
5.60

5.67
5.64

5 .60
5.55

5.60
5.56

5.83
5.81
5.82
7.50
5.50

5.82
5.80
5.81
7.50
5.50

5.82
5.81
5.83
7 .50
5.50

5.75
5.75
5.75
7 .50
5.50

5.75
5.75
5.76
7.50
5.50

5.79
5.78
5.79
7 .50
5.50

5 .70
5.69
5.69

5.73
5.71
5.71

7 . 50
5. 50

7 . 50
5 . 50

5.30
5.39

5.13
5.22

5.19
5.31

5.45
5.62

5.27
5.44

5.34
5.54

5.20
5.28
5.41

5.21
5.35
5.45

5.73

5.77
6 .35
6 .62
6 .92
7 .28
7 .45

5.30
5.39

This
week

Last
week

5.44

5.33

5.45
5.62
5.31
5.42
5.54

5.31
5.40
5.50

5.30
5.37
5.49

5.26
5.33
5.46

5.27
5.34
5.48

5.29
5.37
5.49

5.88
6.47
6.78
7.05
7.50
7.66
7.83
7.92

5.83
6.40
6.67
6.96
7.39
7.57
7.75
7.84

5.82
6.34
6.64
6.91
7.33
7.49
7.67
7.78

5.79
6.31
6.56
6.82
7.25
7.43
7.62
7.72

5.79
6.35
6.64
6.86
7.28
7.47
7.66
7.76

5.82
6.37
6.66
6.92
7.35
7.52
7.71
7 .80

8.27

8.19

8.12

8.04

8.07

8 .94
10.27

8.90
10.25

8.90
10.21

8.86
10.20

8.84
10.21
9.49

7.11
9.95

6 .30
6.59
6 .88

7 . 33
7 .53
7.71

7 . 56

7 .81

7 .62

8.14

8.16

8.08

8.89
10.23
9.49
7.11
9.95

8.88
10.22
9.52
7.08
9.96

8.89
10.20
9.56
7.11
10.01

WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS 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.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATURITY SERIES. THE TREASURY ANNOUNCED ON APRIL 30,
1986 THAT IT NO LONGER WILL ISSUE 20-YEAR BONDS. CONSEQUENTLY,THE 20-YEAR CONSTANT MATURITY RATE IS
NON AN INTERPOLATION BETWEEN THE RATES ON 10- AND 30-YEAR SECURITIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLABLE IN LESS THAN 10 YEARS,
INCLUDING ONE VERY Lt'J Y I E L D I N G "FLOWER" BOND.
ESTIMATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
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 - U T U I T Y BONDS,
BOTH OF WHICH ARE BASED ON FRIDAY FIGURES.




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
22

1986 :
OCT :
15 :

1986 :
OCT
22 :

1986
SEPT
24

5.91
5.28 :
5.71
5.77 :
5.95 7.74

5.83
5.11
5.63
5.63
5.79
7.61

5.89
5.17
5.69 •
5.71 :
5.89 :
7.60

5.90
5.21
5.70
5.74
5.94
7.59

:
:
:
:
•

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, 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.