Full text of H.15 Selected Interest Rates : September 8, 1992
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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. H.15 (519) For immediate release September S ? 1992 SELECTED INTEREST RATES Yields in percent per annum Instruments FEDFRAL C U N D S J E F F E C T I V E ) 1 2 3 COMMERCIAL P A P E R 3 « 5 1-MONTH i-MONTH h-MONTH FINANCE PAPER PLACED DIRECTLY 3 * fe 1-MONTH 3-MONTH 6-MONTH BANKERS ACCEPTANCES (TOP R A T E D ) 3 * 7 3-MONTH 6-MONTH CDS (SECONDARY M A R K E T ) 3 8 1 -MONTH 3-MONTH 6-MONTH EURODOLLAR DEPOSIT (LONDON)3 9 1-MONTH 3-MONTH 6-MONTH BANK PRIME LOAN 2 3 1 0 DISCOUNT HINDOM BORROWING 2 X 1 U.S. GOVERNMENT SECURITIES TREASURY BILLS AUCTION A V E R A G E 3 4 1 2 3-MONTH 6-MONTH 1-YEAR AUCTION A V E R A G E ( I N V E S T M E N T ) 1 2 3-MONTH 6-MONTH SECONDARY M A R K E T 3 * 3-MONTH 6-MONTH 1-YEAR TREASURY CONSTANT M A T U R I T I E S 1 3 1-YEAR 2-YEAR 3-YEAP 5-YEAR 10-YfcAR 30-YEAR COMPOSITE OVER 10 Y E A R S ( L O N G - T E R M ) 1 4 CORPORATE BONDS MOODY'S SEASONED AAA BAA 1992 1992 1992 1992 AUG SEP SEP SEP 31 1 2 3 3.51 3.39 3.21 3.40 3.40 3.46 3.41 3.41 3.47 3.30 3.30 3.32 | Last AUG 4 This week 3.33 S.G2 3.33 i.27 3.30 3.41 3.41 3.47 3.40 3.40 3.46 3.22 3.22 3.26 3.37 3.37 3.42 3.39 3.39 3.45 3..>S 3.38 3.44 3.31 3.30 3.34 3.32 3.30 3.34 3.32 3.30 3.32 3.08 3.07 3.03 3.27 3.25 3.27 3.28 3.28 3.30 3. 2H 3.27 3-2? 3.30 3.35 3.30 3.36 3.29 3.34 3.30 3.33 3.05 3.08 3.25 3.29 3.31 3.36 3.28 3.35 3.33 3.34 3.44 3.33 3.34 3.43 3.31 3.32 3.39 3.31 3.32 3.40 3.06 3.06 3.11 3.27 3.28 3.35 3.32 3.34 3.45 3.29 3.31 3.40 3.38 3.38 3.50 6.00 3.00 3.38 3.38 3.50 6.00 3.00 3.31 3.38 3.44 6.00 3.00 3.31 3.38 3.44 6.00 3.00 3.31 3.31 3.44 6.00 3.00 3.34 3.36 3.46 6.00 3.00 3.31 3.36 3.49 6.00 3.00 3.29 3.33 3.43 6.00 3.00 3.17 3.26 3.17 3.26 3.14* 3.24* 3.28 3.14 3.23 3.28 3.24 3.36 3.24 3.36 3.21* 3.34* 3.21 3.33 ! 3.16 3.24 3.33 3.15 3.22 3.31 3.14 3.21 3.29 3.14 3.19 3.29 2.92 2.96 3.06 3.10 3.16 3.26 3.16 3.25 3.38 3.13 3.21 3.33 3.47 4.15 4.69 5.60 6.17 6.62 7.42 3.45 4.12 4.64 5.52 6.11 6.56 7.38 3.43 4.10 4.59 5.50 6.07 6.54 7.37 3.43 4.09 4.59 5.50 6.07 6.54 7.37 3.18 3.89 4.38 5.30 5.90 6.40 7.29 3.39 4.07 4.58 5.48 6.06 6.53 7.37 3.52 4.25 4.79 5.69 6.23 6.67 7.44 3.47 4.19 4.72 5.60 6.12 6.59 7.39 7.23 7.19 7.17 7.15 7.05 7.16 7.26 7.19 7.96 8.68 7.94 8.67 7.93 8.66 7.93 8.63 7.89 8.56 8.08 7.93 8.64 8.08 6.24 7.94 7.97 8.69 8.20 6.31 8.01 7.95 8.65 8.16 6.16 A-UTILITY15 STATE & LOCAL B O N D S 1 6 CONVENTIONAL M O R T G A G E S 1 7 6.24 7.94 SEE OVERLEAF FOR FOOTNOTES •Treasury bill auction average rates were updated for the week ended Aug. 28. 1992 1992 I SEP 7.98 FOOTNOTES 2. The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers. Meekly figures are averages of 7 calendar days ending on HeoViesday of the current week; ronthly figures include each calendar day in the month. 3. Annualized using a 360-day year or bank interest. 4. Quoted on a discount basis. 5. An average of offering rates on commercial paper placed by several leading dealers for firms whose bond rating is AA or the equivalent. 6 An average of offering rates on paper directly placed by finance companies. 7. Representative closing yields for acceptances of the highest rated money center banks. 8. An average of dealer offering rates on nationally traded certificates of deposit. 9. Bid rates for Eurodollar deposits at 11 a.m. London time. 10. One of several base rates used by banks to price short-term business loans. 11. Rate for the Federal Reserve Bank of New York. 12. Auction date for daily data; weekly and monthly averages computed on an issue-date basis. 13. Yields on actively traded issues adjusted to const sint maturities. Source: U.S. Treasury. 14. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years. 15. Estimate of the yield on a recently offered, A-rat»d utility bond with a maturity of 30 years and call protection of 5 years; Friday quotations. 16. Bond Buyer Index> general obligation* 20 years to Maturity> mixed quality; Thursday quotations. 17. Contract interest rates on commitments for fixed-rsite first mortgages. Source: FHLMC. Note: Meekly and monthly figures are averages of business days unless otherwise noted. DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES Yields on Treasury securities at 'constant maturity1 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 reported by five leading U.S. Government securities dealers to the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 2, 3, 5, 7, 10, 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.