Full text of H.15 Selected Interest Rates : September 10, 1984

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FEDERAL RESERVE statistical release
H.15 (519)

For immediate release
SEPTEBBEB 1 0 , 1984

SELECTED INTEREST RATES
Yields in percent per annum
Instruments

FEDERAL FONDS (EFFECTIVE)
COttHEBCIAL PAPEB 2/3/

1/

1.
2.
3.
4.
5.
6.
7.
3.
9.
10.
11.
12.

s

Week ending
AOG
SEPT
7
31

SEPT
4

M

11.81

11.72

11.71

11.56

11.68

11.50

11.64

A

11.38
11.29
11.22

11.41
11.34
11.28

11.42
11.35
11.23

11*36
11.31
11.23

11.39
11.32
11.24

11.28
11.23
11.17

11. 19
11.18
11. 16

11.38
10.69
10.59

11.41
10.74
10.64

11.43
10.71
10.64

11.35
10.75
10.69

11.39
10.72
10.64

11.26
10.63
10.57

11. 16
10.60
10.52

11.30
11.20

11.33
11.25

11.30
11.23

11.28
11. 18

11.30
11.22

11.29
11.17

11.23
11.13

11.38
1U54
11.79
13.00
9.00

11.52
11.67
11.88
13.00
9.00

11.50
11.63
11.88
13.00
9.00

11.43
11.54
11.73
13.CO
9 . CO

11.46
11.60
1K82
13.00
9.00

11.37
11.52
11.75
13.00
9.00

11.32
11.47
11.71
13.00
9.00

1-aoma

3-IJONTH
6-HONTH
FINANCE PAPEB PLACED DIBECTLI 2 /
1-HONTH
3-SONTH
6-BO NT H
BANKERS ACCEPTAICES (TOP BATED) 2 /
3-HONTH
6-MONTH
CDS (SECCNDABI HABKET)
1-flONTH
3-HONTH
6-HONTH
BANK PfilflE LOAM
1/4/
DISCOUNT WINDOW BOBBOII1G 1 / 5 /
U.S.GOVEBNSENT SECOBIIIES
TBEASUBT BILLS
AUCTION AVEBAGE 2 / 6 /
3-HONTH
6-HONTH
1-YEAB
AUCTION AVEBAGE (INVESTBENT) 6 /
J-flONTfl
6-HONTH
SECONDABT BASKET 2 /
3-HONTH
6-HONTH
1-TEAB
TBEASUBY CONSTANT HATUBITIBS 7 / 8 /
1-TBAB
2-YEAB
3-TEAB
5-YEAB
7-TEAB
10-YEAB
20-IEAB
30-YEAB
COSPCSITE
O7EB 10 TEABS(L0N6-TEBH)9/
COBPOBATE BONDS
flOODT'S SEASONED
AAA
BAA
A-UTILITY 1 0 /
STATE 5 LOCAL BONDS 1 1 /
CONVENTIONAL HOBTGAGSS 1 2 /

- SEPT
6

SEFT
3

R

K

SBPT
5

SECT
7

AOG

E

T

C

10.63
10.75
10.84

10.63
10.75
10.84

10.60
10.70

10.49
10.65
10.79

L

11.08
11.53

11.08
11.53

11.04
11.47

10.92
n.'ii

o
s
E
D

10.67
10.77
10.86

10.63
10.77
10.87

10.60
10.71
10.81

10.55
10.67
10.72

10.61
10.73
10.82

10.65
10.75
10.84

10.47
10.61
10.71

12.01
12.59
12-65
12*85
12.94
12.88
12.74
12.57

12.02
12.63
12.71
12.92
13.01
12.92
12.77
12.61

11.95
12.54
12.63
12.82
12.88
12.81
12.66
12.48

11.83
12.45
12.52
12.75
12.80
12.70
12.62
12.44

11.95
12.55
12.63
12.84
12.91
12.83
12.70
12.53

11.97
12.55
12.60
12.79
12.86
12.82
12.75
12.56

11.82
12.43
12.50
12.68
12-75
12.72
12.71
12.54

12.29

12.34

12.24

12.13

12.25

12.29

12.23

12.87
14.60

12.90
14.59

12-87
14.53

12.85
14.52
14.01

12.87
14.56
14.01
10.18
14.42

12.88
14.58
14. 15
10.17
14.38

12,87
14.63
14. 12
9.99
14.47

10.18
14.42

WEEKLY FIGURES ABB AVEBAGES OF 7 CALENDAfi DATS ENDING ON NEDNBSDAT OF TBE CUBBEBT BEEK;
MONTHLY FIGUBES INCLUDE EACH CALENDAR DAI IN THE HOHTH.
QUOTED ON EANK-DISCOUNT B A S I S .
BATES ON COHHEBCIAL PAPEB PLACED FOB FIBHS BHOSE BOND BATING I S AA OB THE EQUIVALENT.
BATE CHABGED BT BANKS OH SHOBT-TEBH BUSINESS LOANS.
BATE FOB THE FEDEBAL RESERVE BANK OF NEI TOBK.
ISSUE DATE.
YIELDS ON ACTIVELY TBADED ISSUES ADJUSTED TO CONSTANT HATUBITIES.
SOUBCE: U . S . TBEASOBY.
SEE BEVEBSE FOB A DESCBIPTON OF THE CONSTANT HATUB1TY S E R I E S ,
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITBEB DOS NOB CILLAELE IN LESS THAI 10 YEARS,
INCLUDING SEVEBAL VERY LO1 YIELDING "FLOIER" BONDS.
ESTIflATE OF THE YIELD ON A BECENTLY-OFFEBED, A-BATED UTILITY BOND WITH A HATUBITI OF 30 YE4BS AND CALL
PROTECTION OF 5 YEABS; FBIDAY QUOTATIONS.
BOND BUYER INDEX, GENEBAL OBLIGATION, 20 YEABS TO BATUHITI, HIXED QUALITY; THURSDAY QUOTATIONS.
CONTBACT INTEREST RATES ON CCHHITHENTS FOB FIXED-BATE FIBST HOBTGAGES.
SOURCE: FHLHC.

NOTE: WEEKLY AND MONTHLY FIGUBES ABE AVERAGES OF DAILY BATES, EXCEPT FOB STATE & LOCAL BONDS,
WHICH ABE BASED ON THUBSDAI FIGUBES, AND CONVENTIONAL &OBTGAGES AND A-C1ILITZ BONDS,
BOTH OF WHICH ABE BASED CN FBIDAY 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 WEEK!5 ENDED

1984 :
AUG
22

1984
AUG
15

11.77 .
10.37 :
11.21
11.51 :
11.81
12.64

11.63
10.36 :
11.14
11.43r<
11.79 :
12.74

1984 :
AUG
22 :

•

11.63
10.39
11.15
11.43
11.78
12.77

:
•
:
'
!
•

1984
AUG
1
11.30
10.16
11.18
11.54
11.97
13.29

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.