1
 Friday, October 13, 1989
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2
 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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antithesis

4
 PRIME RATE:
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5
 10 1/2%.
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elaboration-general-specific

6
 The base rate on corporate loans at large U.S. money center commercial banks.
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definition

7
 FEDERAL FUNDS:
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8
 8 13/16% high, 8 1/2% low, 8 5/8% near closing bid, 8 3/4% offered.
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elaboration-general-specific

9
 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

11
 Source:
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 Fulton Prebon 
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(U.S.A.)
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elaboration-additional-e

14
 Inc.
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Same-Unit

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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

18
 CALL MONEY:
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19
 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

21
 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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 8.60% 30 to 44 days; 8.55% 45 to 59 days; 8.375% 60 to 79 days; 8.50% 80 to 89 days; 8.25% 90 to 119 days; 8.125% 120 to 149 days; 8% 150 to 179 days; 7.625% 180 to 270 days.
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elaboration-general-specific

24
 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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 8.65% 30 days; 8.55% 60 days; 8.55% 90 days.
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28
 CERTIFICATES OF DEPOSIT:
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 8.15% one month; 8.15% two months; 8.13% three months; 8.11% six months; 8.08% 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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elaboration-object-attribute-e

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 The minimum unit is $100,000.
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 Typical rates in the secondary market:
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 8.65% one month; 8.65% three months; 8.55% six months.
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elaboration-general-specific

35
 BANKERS ACCEPTANCES:
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 8.52% 30 days; 8.37% 60 days; 8.15% 90 days; 7.98% 120 days; 7.92% 150 days; 7.80% 180 days.
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elaboration-general-specific

37
 Negotiable, bank-backed business credit instruments
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 typically financing an import order.
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elaboration-object-attribute-e

39
 LONDON LATE EURODOLLARS:
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 8 13/16% to 8 11/16% one month; 8 13/16% to 8 11/16% two months; 8 13/16% to 8 11/16% three months; 8 3/4% to 8 5/8% four months; 8 11/16% to 8 9/16% five months; 8 5/8% to 8 1/2% six months.
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elaboration-general-specific

41
 LONDON INTERBANK OFFERED RATES
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 (LIBOR):
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restatement

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 8 3/4% one month; 8 3/4% three months; 8 9/16% six months; 8 9/16% one year.
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elaboration-general-specific

44
 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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elaboration-object-attribute-e

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

48
 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 Tuesday, October 10, 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-object-attribute-e

53
 7.63% 13 weeks; 7.60% 26 weeks.
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elaboration-general-specific

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

56
 Posted yields on 30-year mortgage commitments for delivery within 30 days.
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definition

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 9.91%, standard conventional fixedrate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.
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elaboration-general-specific

58
 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

62
 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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 9.86%, standard conventional fixed-rate mortgages; 8.85%, 6/2 rate capped one-year adjustable rate mortgages.
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elaboration-general-specific

65
 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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68
 8.33%.
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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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definition

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