Federal Reserve Statistical Release, H.15, Selected Interest Rates (Weekly); title with eagle logo links to Statistical Release home page


Release Date: April 12, 1999

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      FEDERAL RESERVE STATISTICAL RELEASE
 

 

 

H.15 (519) For immediate release
April 12, 1999
SELECTED INTEREST RATES
Yields in percent per annum
             
Week Ending
 
Instruments
1999
Apr
5

1999
Apr
6

1999
Apr
7

1999
Apr
8

1999
Apr
9
Apr
9
Apr
2
 
1999
Mar
 
Federal funds (effective) 1 2 3             4.76     4.70     4.64     4.72     4.65     4.80    4.84     4.81   
Commercial paper 3 4 5 6                         
    Nonfinancial                                 
        1-month                             4.82     4.81     4.81     4.80     4.79     4.81     4.84    4.82   
        2-month                             4.80     4.82     4.80     4.78     4.79     4.80     4.82    4.82   
        3-month                             4.81     4.82     4.80     4.80     4.79     4.80     4.82    4.81   
    Financial                                    
        1-month                             4.85     4.82     4.82     4.81     4.80     4.82     4.84    4.84   
        2-month                             4.83     4.82     4.82     4.81     4.80     4.82     4.83    4.83   
        3-month                             4.82     4.82     4.82     4.82     4.81     4.82     4.83    4.84   
Bankers acceptances (top rated) 3 4 7            
    3-month                                 4.80     4.80     4.80     4.80     4.81     4.80     4.82    4.82   
    6-month                                 4.80     4.80     4.80     4.80     4.81     4.80     4.83    4.82   
CDs (secondary market) 3 8                       
    1-month                                 4.86     4.86     4.86     4.85     4.85     4.86     4.87    4.88   
    3-month                                 4.89     4.89     4.88     4.88     4.88     4.88     4.90*   4.91   
    6-month                                 4.95     4.95     4.94     4.94     4.93     4.94     4.96*   4.98   
Eurodollar deposits (London) 3 9                 
    1-month                                 4.81     4.81     4.84     4.81     4.81     4.82     4.81    4.81   
    3-month                                 4.88     4.88     4.88     4.88     4.88     4.88     4.88    4.88   
    6-month                                 4.94     4.94     4.94     4.94     4.94     4.94     4.94    4.96   
Bank prime loan 2 3 10                      7.75     7.75     7.75     7.75     7.75     7.75     7.75    7.75   
Discount window borrowing 2 11              4.50     4.50     4.50     4.50     4.50     4.50     4.50    4.50   
U.S. government securities                       
    Treasury bills                               
        Auction high 3 4 12                      
            3-month                         4.27                                         4.27     4.38    4.48   
            6-month                         4.35                                         4.35     4.34    4.52   
            1-year                                                                                4.50c   4.67   
        Secondary market 3 4                     
            3-month                         4.29     4.30     4.30     4.28     4.30     4.29     4.35    4.44   
            6-month                         4.32     4.36     4.37     4.35     4.34     4.35     4.34    4.47   
            1-year                          4.44     4.43     4.45     4.41     4.40     4.43     4.48    4.53   
    Treasury constant maturities 13              
        3-month                             4.40     4.42     4.42     4.40     4.42     4.41     4.47    4.57   
        6-month                             4.53     4.53     4.54     4.52     4.51     4.53     4.51    4.65   
        1-year                              4.67     4.66     4.69     4.64     4.63     4.66     4.72    4.78   
        2-year                              4.96     4.93     4.93     4.86     4.88     4.91     4.99    5.05   
        3-year                              5.02     4.98     5.01     4.89     4.91     4.96     5.06    5.11   
        5-year                               5.07     5.01     5.04     4.94     4.96     5.00     5.12    5.14   
        7-year                              5.33     5.26     5.26     5.16     5.17     5.24     5.37    5.36   
       10-year                              5.20     5.13     5.14     5.03     5.05     5.11     5.24    5.23   
       20-year                              5.88     5.80     5.80     5.71     5.73     5.78     5.92    5.87   
       30-year                              5.59     5.52     5.51     5.44     5.46     5.50     5.63    5.58   
    Composite                                    
        Over 10 years (long-term) 14        5.83     5.75     5.75     5.66     5.68     5.73     5.88    5.81   
Corporate bonds                                  
    Moody's seasoned                             
        Aaa                                 6.67     6.60     6.60     6.52     6.54     6.59     6.70   6.62    
        Baa                                 7.52     7.47     7.47     7.40     7.40     7.45     7.56   7.53    
State & local bonds 15                                                 5.07              5.07     5.11    5.10   
Conventional mortgages 16                                                       6.92     6.92     6.98    7.04   
        See overleaf for footnotes
* Some CD rates for April 2, 1999 were revised. The correct rates were 3-month, 4.90 and 6-month, 4.96.
c-- corrected.
 

 

 

 

 

 

 

FOOTNOTES
 

1. The daily effective federal funds rate is a weighted average of rates on trades through N.Y.
brokers.
2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week;
monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. On a discount basis.
5. 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.federalreserve.gov/releases/cp) for more information.
6. 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.
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 collected around 9:30 a.m. Eastern time.
10. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial
banks. Prime is 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. Data are
stop yields from uniform-price auctions, rounded to two decimal places. (The U.S. Treasury
publishes stop yields to three decimal places at http://www.publicdebt.treas.gov).
13. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury.
14. Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years.
15. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
16. 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/). For information about individual copies or subscriptions, contact
Publications Services at the Federal Reserve Board (phone 202-452-3244, fax 202-728-5886).
For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or
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 20-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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