Week Ending

Instruments Jan Jan Jan Jan Jan Dec Jan

1 8 15 22 29

FEDERAL RESERVE statistical release

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 4 7

3-month

6-month

CDs (secondary market) 3 8

1-month

3-month

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 high 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

20-year

30-year

Composite

Over 10 years (long-term) 14

Corporate bonds

Moody’s seasoned

Aaa

Baa

State & local bonds 15

Conventional mortgages 16

4.48 4.30 4.75 4.64 4.66 4.68 4.63

5.24 4.81 4.81 4.78 4.79 5.24 4.80

5.02 4.80 4.79 4.77 4.76 5.12 4.78

4.95 4.78 4.79 4.76 4.75 5.00 4.77

5.21 4.85 4.85 4.80 4.81 5.31 4.83

5.04 4.84 4.84 4.79 4.77 5.13 4.81

5.02 4.84 4.84 4.79 4.78 5.04 4.81

5.14 4.85 4.80 4.76 4.78 5.08 4.80

4.99 4.78 4.73 4.68 4.72 4.91 4.73

5.29 4.94 4.90 4.86 4.86 5.47 4.89

5.09 4.93 4.91 4.87 4.86 5.14 4.89

5.03 4.93 4.92 4.88 4.87 5.01 4.90

5.25 4.91 4.86 4.81 4.83 5.42 4.86

5.06 4.93 4.90 4.84 4.83 5.13 4.88

5.00 4.94 4.90 4.86 4.84 4.99 4.88

7.75 7.75 7.75 7.75 7.75 7.75 7.75

4.50 4.50 4.50 4.50 4.50 4.50 4.50

4.52 4.38 4.39 4.28 4.31 4.42 4.34

4.53 4.42 4.41 4.31 4.28 4.43 4.36

 4.34 4.31 4.34

4.44 4.36 4.35 4.26 4.35 4.39 4.34

4.45 4.38 4.33 4.30 4.30 4.40 4.33

4.38 4.35 4.30 4.29 4.30 4.32 4.31

4.55 4.47 4.46 4.37 4.47 4.50 4.45

4.62 4.54 4.48 4.47 4.46 4.57 4.49

4.59 4.55 4.51 4.49 4.51 4.52 4.51

4.61 4.64 4.61 4.63 4.59 4.51 4.62

4.60 4.63 4.61 4.62 4.58 4.48 4.61

4.59 4.63 4.61 4.60 4.56 4.45 4.60

4.75 4.81 4.83 4.80 4.74 4.65 4.80

4.70 4.76 4.75 4.70 4.67 4.65 4.72

5.42 5.47 5.49 5.44 5.39 5.36 5.45

5.12 5.20 5.17 5.14 5.12 5.06 5.16

5.36 5.42 5.43 5.38 5.32 5.29 5.39

6.26 6.28 6.26 6.22 6.19 6.22 6.24

7.27 7.34 7.30 7.27 7.24 7.23 7.29

5.00 5.05 5.02 5.01 5.01 4.98 5.02

6.83 6.79 6.83 6.78 6.74 6.72 6.79

See overleaf for footnotes

G.13 (415)

SELECTED INTEREST RATES For immediate release

Yields in percent per annum February 2, 1999

These data are released the first Tuesday of each month. The availability of the release is announced on (202) 452-3206.
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. 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.

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.

G.13 (415) Federal Reserve Board

Selected Interest Rates February 2, 1999

Yields in percent per annum

Fed Comm

funds paper Treasury bills Treasury constant maturities

1-mo. 3-mo. 6-mo. 1-yr. 3-mo. 6-mo. 1-yr. 2-yr. 3-yr. 5-yr. 7-yr. 10-yr. 20-yr. 30-yr.

Jan 1 4.07 

Jan 4 5.04 4.86 4.38 4.40 4.38 4.49 4.57 4.58 4.58 4.57 4.57 4.75 4.69 5.42 5.15

Jan 5 4.54 4.83 4.37 4.41 4.41 4.48 4.57 4.56 4.64 4.64 4.62 4.80 4.74 5.48 5.21

Jan 6 4.23 4.81 4.36 4.39 4.32 4.47 4.55 4.53 4.62 4.62 4.61 4.76 4.73 5.42 5.17

Jan 7 4.49 4.78 4.33 4.33 4.30 4.44 4.49 4.51 4.63 4.63 4.62 4.82 4.77 5.48 5.23

Jan 8 4.74 4.78 4.37 4.37 4.36 4.48 4.53 4.57 4.71 4.71 4.72 4.92 4.86 5.57 5.26

Jan 11 5.17 4.82 4.39 4.41 4.40 4.51 4.57 4.62 4.74 4.75 4.76 4.95 4.90 5.61 5.29

Jan 12 4.78 4.79 4.37 4.35 4.34 4.48 4.51 4.55 4.68 4.68 4.68 4.89 4.82 5.55 5.23

Jan 13 4.62 4.81 4.34 4.32 4.29 4.45 4.48 4.49 4.61 4.61 4.60 4.84 4.74 5.49 5.16

Jan 14 4.82 4.82 4.33 4.26 4.21 4.44 4.41 4.41 4.47 4.48 4.48 4.73 4.63 5.39 5.07

Jan 15 4.68 4.82 4.33 4.29 4.26 4.44 4.44 4.46 4.56 4.55 4.54 4.76 4.66 5.43 5.10

Jan 18 4.68 

Jan 19 4.55 4.80 4.29 4.29 4.29 4.41 4.48 4.49 4.62 4.62 4.60 4.82 4.71 5.46 5.14

Jan 20 4.41 4.78 4.26 4.33 4.32 4.37 4.49 4.53 4.66 4.66 4.65 4.86 4.76 5.48 5.18

Jan 21 4.36 4.78 4.22 4.29 4.28 4.32 4.45 4.48 4.63 4.62 4.60 4.79 4.70 5.43 5.14

Jan 22 4.62 4.77 4.26 4.29 4.26 4.36 4.44 4.46 4.59 4.58 4.54 4.73 4.64 5.38 5.09

Jan 25 4.97 4.78 4.31 4.31 4.28 4.44 4.45 4.48 4.59 4.58 4.55 4.74 4.67 5.40 5.12

Jan 26 4.84 4.79 4.35 4.30 4.30 4.46 4.46 4.51 4.63 4.61 4.58 4.76 4.69 5.41 5.12

Jan 27 4.61 4.80 4.36 4.31 4.31 4.47 4.47 4.51 4.57 4.57 4.57 4.74 4.68 5.40 5.14

Jan 28 4.80 4.79 4.38 4.29 4.31 4.49 4.45 4.52 4.58 4.57 4.57 4.73 4.67 5.37 5.11

Jan 29 4.79 4.78 4.37 4.31 4.31 4.48 4.47 4.51 4.58 4.57 4.55 4.72 4.66 5.35 5.09

 

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