Full text of H.15 Selected Interest Rates : September 4, 1984

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FEDERAL RESERVE statistical release
For immediate release

H.15(5ig)

SEPTEMBER

SELECTED INTEREST RATES
Yields In percent per annum
Instruments'

FEDERAL FORDS (EFFECTIVE) 1 /
COMMERCIAL PAPER 2 / 3 /
1-HOBTH
3-HO I T H
6 - BO NTH
FIHABCE PAPEB PLACED DIBECTLY 2 /
1-HONTH
3-HONTH
6-HO I T H
BANKERS ACCEPTANCES (TOP BATED) 2 /
3-HONTH
6-HOITH
CDS (SECOIDART HABKET)
1-HOMTH
3-HO I T H
6-HO NTH
BANK PBIHE LOAN
1/4/
DISCOUNT WINDOB BORROWING 1 / 5 /
U.S.GOVEBBHEBT SECOBITIES
TIEASORI BILLS
AUCTION AVERAGE 2 / 6 /
3-BOBTB
6-BONTH
1-IEAB
AUCTION AVERAGE (INVESTMENT) 6 /
3-BOHTH
6-HONTH
SECOIDABT HABKET 2 /
3-HO I T B
6-HO NTH
1-YBAB
TREASURY CONSTANT MATURITIES 7 / 8 /
1-IBAB
2-TEAR
3-TEAB
5-Y1AB
7-IEAB
10-YEAB
20-YEAB
30-TEAfi
COHPOSITE
OVEB 10 YEABS(LONG-TEBH)9/
CORPORATE BONDS
MOODY'S SEASONED
AAA
BAA
A-UTILITI 10/
STATE & LOCAL BOBDS 1 1 /
COBVEBTIOBAL H0BT6AGES 1 2 /

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

4,

1984

Week ending
AOG
27

A06
28

AOG
29

AOG
30

AOG
31

TUB

nre
24

AOG

11.68

11.47

11.20

11.65

11.64

11.50

11.77

11.64

11.26
11.20
11.15

11.29
11.23
11.17

11.25
11.21
11.16

11.29
11.24
11.20

11.31
11.26
11.19

11.28
11.23
11.17

11.28
11.22
11.16

11.19
11.18
11.16

11.28
10.58
10.45

11.12
10.58
10.53

11.27
10.58
10.53

11.30
10.61
10.56

11.31
10.81
10.76

11.26
10.63
10.57

11.23
10.58
10.54

11.16
10.60
10.52

11.30
11.15

11.30
11.20

11.25
11.15

11.30
11.20

11.30
11.15

11.29
11.17

11.24
11.11

11.23
11.13

11.35
11.49
11.71
13.00
9.00

11.37
11.53
11.77
13.00
9.00

11.35
11.51
11.75
13.00
9.00

11.38
11.52
11.76
13.00
9.00

11.38
11.53
11.77
13.00
9.00

11.37
11.52
11.75
13.00
9.00

11.37
11.50
11.69
13.00
9.00

11.32
11.47
11.71
13.00
9.00

10.60
10.70

10.40
10.59

10.49
10.65
10.79

11.04
11.47

10.83
11.34

10.92
11.41

31

«
10.60
10.70

.,
11.04
11.47
10.67
10.75
10.82

10.65
10.76
10.85

10.66
10.75
10.84

10.65
10.75
10.86

10.63
10.73
10.82

10.65
10.75
10.84

10.44
10.57
10.68

10.47
10.61
10.71

11.95
12.54
12.57
12.80
12.84
12.81
12.78
12.60

11.97
12.54
12.59
12.82
12.84
12.81
12.75
12.57

11.97
12.56
12.6!
12.78
12.88
12.83
12.77
12.57

11.99
12.56
12.62
12.79
12.89
12.84
12.74
12.56

11.96
12.54
12.61
12.77
12.85
12.79
12.70
12.51

11.97
12.55
12.60
12.79
12.86
12.82
12.75
12.56

11.80
12.43
12.46
12.66
12.70
12.66
12.60
12.42

11.82
12.43
12.50
12.68
12.75
12.72
12.71
12.54

12.31

12.29

12.29

12.29

12.26

12.29

12.15

12.23

12.90
14.60

12.89
14.58

12.87
14.59

12.87
14.57

12.87
14.58
14.15

12.88
14.58
14.15
10.17
14.38

12.85
14.55
14.10
10.02
14.36

n. a.
n.a.
n.a.
9.99
14#47

10.17
14.38

8EEKLY FIGOBES ARE AVERAGES OF 7 CALENDAR DAYS ENDING OK WEDNESDAY OF THE CURRENT WEEK;
MONTHLY FIGORES IBCLODE EACH CALENDAR DAY IB THE HOHTH.
QUOTED OB BANK-DISCOUNT BASIS.
RATES OB COMMERCIAL PAPER PLACED FOR FIRMS WHOSfc BOBD RATIBG I S AA OR TBE EQUIVALENT.
BATE CHARGED BY BANKS OB SHORT-TERM BUSINESS LOABS.
BATE FOB THE FEDERAL RESERVE BANK OF NEB YORK.
ISSUE DATE.
YIELDS OB ACTIVELY TRADED ISSUES ADJUSTED TO COBSTABT MATURITIES, SOURCE: U.S. TREASURY.
SEE REVERSE FOR A DESCRIPTON OF THE CONSTANT MATURITY SERIES.
UNWEIGHTED AVERAGE OF ALL ISSUES OUTSTANDING OF BOBDS NEITHER DUE BOB CALLABLE IB LESS THAB 10 YEARS,
INCLUDING SEVERAL VERY LOB YIELDING "FLOWER" BOBDS.
ESTIHATE OF THE YIELD ON A RECENTLY-OFFERED, A-RATED UTILITY BOBD WITH A HAIOBITY OF 30 YEARS ABD CALL
PROTECTION OF 5 YEARS; FRIDAY QUOTATIONS.
BOND BUYER INDEX, GENERAL OBLIGATION, 20 YEARS TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS.
CONTRACT INTEREST RATES ON COBMITHENTS FOR FIXED-RATE FIRST HOBTGAGES. SOURCES FHLHC.

BOTE; WEEKLY AND MONTHLY FIGURES ARE AVERAGES OF DAILY RATES, EXCEPT FOB STATE & LOCAL BOBDS,
' BBICH ARE BASED ON THURSDAY FIGURES, AND CONVENTIONAL MORTGAGES AND A-UTILITY BOBDS,
 BOTH OF BHICH ARE BASED ON FRIDAY FIGURES.


SELECTED INTEREST RATES
YIELDS IN PERCENT PER ANNUM
WEEK ENDING WEDNESDAY

WEI5K 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

1984 :

1984 :

1984 :

1984

AUG
29

AUG
22

AUG

AUG
8

11.50 ••
10.58 :
11.21 :•
11.50 :•
11.84 :
12.71 :

:

29 •

11.77 : 11.62 •'
10.37 •■ 10.45 :
11.21 •: 11.17 •
11.51 :• 11.46 :
11.81 :• 11.80 :•
12.64 :■ 12.71 :

11.38
10.27
11.14
11.47
11.87
13.08

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.