Full text of H.15 Selected Interest Rates : September 22, 1997

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Page 1 of 4

FRB: H.15 Release—Selected Interest Rates— September 22, 1997

Federal Reserve Statistical Release
H.15

Selected Interest Rates
Release Date: September 22, 1997
Release dates | Daily update | Historical data | About
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FEDERAL RESERVE STATISTICAL RELEASE

For immediate release
September 22, 1997

H.15 (519)
SELECTED INTEREST RATES
Yields in percent per annum

Instruments
Federal funds (effective) 1 2 3
Commercial paper 3 4 5 6
Nonfinancial
1-month
2-month
3-month
Financial
1-month
2-month
3-month
Bankers acceptances (top rated) 3
3-month
6-month
CDs (secondary market) 3 8
1-month
3-month

http://www.federalreserve.gov/releases/hl 5/19970922/

1997
Sep
15

1997
Sep
16

1997
Sep
17

1997
Sep
18

1997
Sep
19

Week Ending
Sep
Sep
19
12

1997
Aug

5.77

5 .52
.

5 .74
,

5 .53
.

5 .36

5 .58

5 .48

5 .54

5.49
5.49
5 .49

5 .49
,
5..49
5..49

5..48
5..47
5 .48
.

5..48
5..47
5 .48
.

5 .49
,
5..46
5..45

5 .49
.
5 .48
.
5..48

5 .48
,
5 .48
,
5..48

5,.55
5..55
5 .56
,

5.51
5.51
5.51

5..50
5..51
5.. 51

5..50
5..50
5 .51
.

5..49
5 . 50
5 .50
.

5 .50
,
5..50
5..49

5 .50
.
5..50
5..50

5 .50
.
5 .51
.
5..51

5,.49 *
*
5 .50
,
•
5 .49
.

5 .54
5.55

5..54
5 .56
.

5..53
5 .55
.

5 . 53
5 .55
.

5..52
5..54

5..53
5..55

5 .58
.
5..67

5 .53
.
5..56

5.56
5.60

5.55
5.59

5.55
5.58

5.56
5.59

5.56
5.59

5.56
5.59

5.56
5.60

5.54
5.60

•k

*

09/19/2007

Page 2 of 4

FRB: H.15 Release—Selected Interest Rates— September 22, 1997

6-month
Eurodollar deposits (London) 3 9
1-month
3-month
6-month
Bank prime loan 2 3 10
Discount window borrowing 2 11
U.S. government securities
Treasury bills
Auction average 3 4 12
3-month
6-month
1-year
Secondary market 3 4
3-month
6-month
1-year
Treasury constant maturities 13
3-month
6-month
1-year
2-year
3-year
5-year
7-year
10-year
2 0-year
30-year
Composite
Over 10 years (long-term) 14
Corporate bonds
Moody's seasoned
Aaa
Baa
A-utility 15
State & local bonds 16
Conventional mortgages 17

5..72

5..70

5..68

5.
, 68

5..68

5..69

5,.73

5..71

5.. 56
5..56
5..75
8.. 50
5.. 00

5..56
5..56
5 . 69
8..50
5..00

5 .56
,
5 .56
.
5..69
8..50
5 .00
.

5..69
5 .69
.
5 .81
.
8..50
5..00

5 .56
.
5 .56
.
5 .69
.
8,.50
5 .00
,

5 .59
,
5..59
5..73
8..50
5..00

5..56
5..60
5..75
8..50
5..00

5.. 50
5..58
5 .70
.
8..50
5., 00

4.91
5 . 08
5.30

5.01
5.14

5.13
5.17
5.28

4.91
5.08

5.00
5.13
5.25

4.96
5.08
5.18

4.97
5.09
5.17

4.97
5.07
5.18

4.93
5.07
5.19

4.97
5.09
5.19

5.00
5.14
5.29

5.14
5.19
5.27

5 .08
.
5..31
5..54
5..93
6..02
6..17
6..28
6..28
6..65
6..58

5..09
5..28
5..47
5..81
5.. 88
6.. 00
6.. 09
6 .11
.
6..47
6..41

5 .10
.
5 .29
.
5 .46
.
5 .79
.
5 . 88
5 .99
.
6..08
6..10
6..45
6 .39
.

5 .10
5,.27
5,.47
5,.81
5 .90
,
6.. 02
6 .10
,
6..11
6..46
6..40

5 .06
.
5 .27
,
5 .48
,
5 .81
,
5 .89
,
6 . 01
6..08
6..09
6..44
6 .38
.

5 .09
,
5 .28
,
5 .48
,
5.
, 83
5..91
6..04
6.. 13
6..14
6 .49
.
6 .43
.

5 .13
5 .35
5..59
5..98
6..08
6..23
6..34
6..34
6 .70
.
6.. 64

5 .28
.
5..40
5..56
5 .94
.
6,.06
6..16
6..29
6..30
6.. 65
6..58

6.63

6.45

6.43

6 .44

6.42

6 .47

6.68

6.64

7..23
7 .77
.

7.08
7 . 67

7 .05
.
7 . 64

7 .05
,
7 . 64

7 .04
.
7 .64
,
7 .45
.

7.
, 09
7 . 67
7 .45
.
5..33
7 .38
.

7 .28
.
7 .81
.
7 .66
,
5 .44
.
7 .53
.

7 .22
.
7 .82
,
7..67
5..41
7 .48
.

5..33
7 .38
.

See overleaf for footnotes
* Commercial paper rates prior to Sept. 2, 1997 are based on averages of dealer offering rates.

http://www.federalreserve.gov/releases/hl 5/19970922/

09/19/2007

FRB: H.15 Release—Selected Interest Rates— September 22, 1997

Page 3 of 4

FOOTNOTES
1.
2.
3.
4.
5.

6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.

The daily effective federal funds rate is a weighted average of rates on trades through N.Y.
brokers.
Weekly figures are averages of 7 calendar days ending on Wednesday of the current week;
monthly figures include each calendar day in the month.
Annualized using a 360-day year or bank interest.
On a discount basis.
Interest rates interpolated from data on certain commercial paper trades settled by The Depository
Trust Company. The trades represent sales of commercial paper by dealers or direct issuers to
investors (that is, the offer side). See Board's Commercial Paper Web pages
(http://www.bog.frb.fed.us/releases/cp) for more information.
The 1-, 2-, and 3-month rates are equivalent to the 30-, 60-, and 90-day dates reported on the
Board's Commercial Paper Web page.
Representative closing yields for acceptances of the highest rated money center banks.
An average of dealer offering rates on nationally traded certificates of deposit.
Bid rates for Eurodollar deposits at approximately 11 a.m. London time.
One of several base rates used by banks to price short-term business loans.
Rate for the Federal Reserve Bank of New York.
Auction date for daily data; weekly and monthly averages computed on an issue-date basis.
Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury.
Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
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 business days unless otherwise noted.
Current and historical H.15 data are available on the Federal Reserve Board's web site

http://www.federalreserve.gov/releases/hl 5/19970922/

09/19/2007

FRB: H.15 Release—Selected Interest Rates— September 22, 1997

Page 4 of 4

(http://www.bog.frb.fed.us/). Current data are also available on the Department of Commerce
Bulletin Board. For information, call 202-482-1986.

DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES
Yields on Treasury securities at "constant maturity" are interpolated by the U.S. Treasury from the
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 obtained by the Federal Reserve Bank
of New York. The constant maturity yield values are read from the yield curve at fixed maturities,
currently 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a
10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to
maturity. In estimating the 2 0-year constant maturity, the Treasury incorporates the prevailing
market yield on an outstanding Treasury bond with approximately 20 years remaining to maturity.

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Last update: September 22,1997

http://www.federalreserve.gov/releases/hl 5/19970922/

09/19/2007