1
 Friday, October 27, 1989
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 The key U.S. and foreign annual interest rates below are a guide to general levels 
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3
but don't always represent actual transactions.
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 PRIME RATE: 
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10 1/2%. 
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elaboration-general-specific

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The base rate on corporate loans at large U.S. money center commercial banks.
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definition

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 FEDERAL FUNDS: 
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8 3/4% high, 8 11/16% low, 8 5/8% near closing bid, 8 11/16% offered.
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elaboration-general-specific

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 Reserves 
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traded among commercial banks for overnight use in amounts of $1 million or more.
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elaboration-object-attribute-e

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 Source:
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 Fulton Prebon 
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(U.S.A.)
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elaboration-additional-e

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 Inc.
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 DISCOUNT RATE:
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 7%.
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elaboration-general-specific

17
 The charge on loans to depository institutions by the New York Federal Reserve Bank.
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definition

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 CALL MONEY: 
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9 3/4% to 10%.
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elaboration-general-specific

20
 The charge on loans to brokers on stock exchange collateral.
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definition

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 COMMERCIAL PAPER 
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placed directly by General Motors Acceptance Corp.:
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elaboration-object-attribute-e

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 8.50% 30 to 44 days; 8.25% 45 to 65 days; 8.375% 66 to 89 days; 8% 90 to 119 days; 7.875% 120 to 149 days; 7.75% 150 to 179 days; 7.50% 180 to 270 days.
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 COMMERCIAL PAPER:
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 High-grade unsecured notes 
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sold through dealers by major corporations in multiples of $1,000:
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elaboration-object-attribute-e

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 8.575% 30 days; 8.475% 60 days; 8.40% 90 days.
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 CERTIFICATES OF DEPOSIT:
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 8.09% one month; 8.04% two months; 8.03% three months; 7.96% six months; 7.92% one year.
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elaboration-general-specific

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 Average of top rates 
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paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.
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 The minimum unit is $100,000.
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 Typical rates in the secondary market: 
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8.55% one month; 8.50% three months; 8.40% six months.
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elaboration-general-specific

35
 BANKERS ACCEPTANCES:
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 8.52% 30 days; 8.35% 60 days; 8.33% 90 days; 8.17% 120 days; 8.08% 150 days; 8% 180 days.
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 Negotiable, bank-backed business credit instruments 
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typically financing an import order.
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elaboration-object-attribute-e

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 LONDON LATE EURODOLLARS:
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 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 11/16% to 8 9/16% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.
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elaboration-general-specific

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 LONDON INTERBANK OFFERED RATES 
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(LIBOR):
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 8 11/16% one month; 8 11/16% three months; 8 7/16% six months; 8 3/8% one year.
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 The average of interbank offered rates for dollar deposits in the London market
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 based on quotations at five major banks.
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circumstance-e

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 FOREIGN PRIME RATES:
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 Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.
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elaboration-general-specific

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 These rate indications aren't directly comparable;
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 lending practices vary widely by location.
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explanation-argumentative

50
 TREASURY BILLS:
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 Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, 
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sold at a discount from face value in units of $10,000 to $1 million:
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elaboration-additional-e

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 7.52% 13 weeks; 7.50% 26 weeks.
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elaboration-general-specific

54
 FEDERAL HOME LOAN MORTGAGE CORP.
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 (Freddie Mac):
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restatement-e

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 Posted yields on 30-year mortgage commitments for delivery within 30 days.
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definition

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 9.80%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages. 
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Source: 
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Telerate Systems Inc. 
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elaboration-general-specific

60
 FEDERAL NATIONAL MORTGAGE ASSOCIATION 
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(Fannie Mae): 
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restatement-e

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Posted yields on 30 year mortgage commitments for delivery within 30 days 
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(priced at par)
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elaboration-additional-e

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 9.75%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.
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 Source: 
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Telerate Systems Inc.
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elaboration-general-specific

67
 MERRILL LYNCH READY ASSETS TRUST: 
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8.65%. 
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elaboration-general-specific

69
Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.
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