Full text of H.15 Selected Interest Rates : September 24, 1984

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FEDERAL RESERVE statistical release
H.1S(519|

For immediate release
SEPTEMBER 2 4 , 1984

SELECTED INTEREST RATES
Yialds in percent per annum
Instrument®

FEDSBiL FONDS (EFFECTIVE) 1 /
CGHSERCI&L PAPBB 2 / 3 /
1-SOHTH
3-SONTH
6~aQHTH
PIMAHCE PAPER PLACED DIRECTLY

A-UTILITT 10/
STATE S LQCkL ECUDS 1 1 /
COHVSNTIOMAX MORTGAGES 1 2 /
1.
2.
3.
4.
5.
6*
7.
8.
9.
10.
11.
12.

SEPT

SEPf

SEPt

SEPT
21

1U$4

11,53

11.35

11-12

10-89

11-46

11.52

11.64

11-19
11.13
11-01

11.18
11.09
10.94

11.11
10.99
10.86

10*98
10.89
10-75

10.38

10.81
10.64

11.07
10.98
10-84

11.24
11. 17
11-05

11-19
11.18
11-16

11*12
10.70
10.6%

11-18
10.66
10.56

10*95
10.59
10.52

10.88
10.57
10.47

10.69
10.51
10.43

10.96
10-61
10.52

11. 19
10.72
10.66

11. 16
10.60
10.52

11.08
10.93

11.00
10-80

10.90
10.70

10.85
10.58

10.90
10.75

10.95
10.75

11.16
11.02

11.23
11- 13

11.27
11.36
11.47
13.00
9.00

11.26
11.31
1 1.40
13-00
9.00

11-23
11.28
11.34
13.00
9.00

11.13
11.16
11.21
13.00
9.00

11.04
11. 12
11.21
13.00
9.00

11. 19
11.25
11.33
13.00
9.00

11.31
11.39
11.57
13.00
9.00

11.32
11.47
11.71
13.00
9.00

10.33
10.40

10.33
10.40

10.39
10.49

10.49
10.65
10*79

10-75
11.13

10.75
11.13

10.82
11.23

11. 4\

18

19

20

AOG

1/

3-SOHTH
6-BONTH
8&MKERS ACCEPTANCES (TOP BUTIQ) 2 /
3-HONTH
6-MO NTS
CDS CSECOKDAET MARKET)
1-HONTH
3-HO NTH
6-aOUTB
BASK P&IHE LOAN
1/4/
OISCOOHT IISDOH BCRROWISG 1 / 5 /
OLS. GOVERNMENT SECURITIES
TBEAS0BY BILLS
AUCTION AVEBAGE 2 / 6 /
3-SONTH
6-SO NT B
1-YEAB
AUCTION AVERAGE(IHTESTBSM?) 6 /
. 1 - MONTH
6-BONTH
SECONDARY HABKET 2 /
3-BONTH
6-BONTH
1-YEAB
TREASURY CONSTANT flATOHITIBS 7 / 8 /
t-YEAB
2-YEAR
3-YEAB
5-YEAR
7-YEAR
10-YEAR
20-YEAR
30-YEAB
COMPOSITE
OVER \Q YEARS{LONG-TERB)9/
CORPORATE BONDS
BOODY'S SEASOHED
AAA
5AA

Week ending
SEPT
SEPT
2\
14

SEPT
17

10-92

10.38
10*45
10.47

10.32
10.37
10.40

10.27
10.30
10.31

10.24
10-28
10.28

10.25
10.34
10.40

10.29
10-35
10.37

10.38
10-51
10.54

10.47
10.61
10.71

11.53
12.16
12.23
12.42
12.49
12.40
12.28
12. 18

11.45
12«10
12.19
12.33
12.43
12.35
12.23
12.15

11.34
11.94
12.12
12.26
12,33
12.25
12.15
12.07

11.30
11.94
12. }2
12.27
12.35
12.28
12,16
12.08

11.43
12.06
12.27
12.44
12.51
12.45
12.34
12.22

11.41
12.04
12. 19
12.34
12.42
12.35
12.23
12. 14

11.61
12.24
12.34
- 12.55
12-60
12.51
12.44
12.29

11.82
12.43
12.50
12.t>8
12-~5
12.72
12.71
12.54

11.86

11.81

11.73

11.73

11.89

11.80

11.96

12.23

12.63
14.31

12.57
14.29

12.47
14.25

12-44
14.20

12.51
14.23
13.76

12.52
14.26
13.76
9.95
14.29

12.72
14.39
13.70
10. 10
14.43

12.37
14.63
14.12
9.9 9
14.47

9.95
14.29

WEEKLY FIGOBES ABE AVERAGES OP 7 CAJLEMDAB DAIS EMDIMG OH HEDMESDAY OF THE COBSEHT WEEK;
MONTHLY FIGOBBS IHCLODE EACH CAiEBDA,B DAY IM THE MOHTHQUOTED OM BANK-DISCCUNT B A S I S .
RATES ON COMMERCIAL PAPER PLACED FOB FIBMS 8HOSB BOND BATIBG I S AA OB THE EQUIVALENT.
EATS CHARGED BY BAMS OS SHOBT-TERB BUSINESS LOAHS.
RATE FOR THE FEDEBAL RSSEB^B BASK OF Mil YORK.
ISSUE DATE.
YIELDS OS ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT SATdBITIES.
SOURCE: 0 . S- TBEASUBY.
SEE REVERSE FOB A DESCBIPTO8 OF THE COSSTAUT MATUBITY SERIES.
UH»EIGH?ED AVERAGE OF ALL ISSUES OUTSTANDING OF BONDS NEITHER DUE NOR CALLAELE IN LESS THAU 10 YEABS,
INCLUDING SEVERAL VEBY LOU YIELDING "FLOHEB" BONDS.
ESTIMATE OF THE YIELD OS A RECENTLY-CFFEBED, A-RATED UTILITY BOSD HITH A MATUBITY OF 30 YEABS AND CALL
PROTECTION OF 5 YEABS; FBIDAY QUOTATIONS.
BOMD BUTEB INDEX, GEBEBAL OBLIGATION, 20 YEABS TO MATURITY, MIXED QUALITY; 1HUBSDAI QUOTATIONS.
CONTRACT INTEREST RATES ON COMHITBENTS FOR FIXED-BATE FIRST MORTGAGES. SGUECE: FHLMC.

NOTE: tfEEKLI AMD MONTHLY FIGOBES IRE AVERAGES CF DAILY BATES, EXCEPT FOB STATE 5 LOCAL BONDS,
WHICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-01ILITY BONDS,
BOTH OF WHICH ARE BASED CM FBIDAY FIGURES*




SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY
WEEK ENDED
1984 :
SEPT :
19 .
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/

11.46
10.33
11.09
11.32
11.69
12.27

:
:
:
:
:
:

4 WEEKS ENDED

1984 :
SEPT :
12 :
11.52
10.47
11.25
11.49
11.85
12.55

•
:
:
:
.•
•

1984
SEPT :
19 :

1984
AUG
29

11.54 .
10.51 ••
11.21 .•
11.47 •
11.83 •
12.57 :

11.62
10.45
11.17
11.46
11.80
12.71

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