Short-term investments and borrowing are driven by the available rates in the market for these products and services. Likewise, long-term rates in the debt and equity markets will determine the cost of capital for an organization. This section provides sites which offer information to the treasurer on various rates for different segments of the market.

Glossary of Bond Terms

Inflation Indexed Bonds: How they work

Long Term Bond Rating Definitions

Daily FX Rates
The Federal Reserve Bank of New York provides one of the better sites for daily rates on foreign exchange(FX). Daily rates are available for 23 foreign currencies. These are the noon buying rates "as certified by the New York Federal Reserve Bank for customs purposes." All of the rates shown are expressed in terms of foreign currency values. In addition, you can access the New York Federal Reserve's 10:00 A.M. midpoint (between buying and selling rates) foreign exchange rates daily for major currencies expressed in foreign currency units:

• Pound Sterling (expressed in US$ equivalents)
• Canadian Dollar
• French Franc
• German Mark
• Swiss Franc
• Japanese Yen
• Dutch Guilder
• Belgian Franc
• Italian Lira
• Swedish Krone
• Norwegian Krone
• Danish Krone

Key Market Rates Including US Treasuries
Fed funds, 3 Month Libor and prime rates, from Bloomberg.

3 month BBA LIBOR Fixings
Data supplied by Reuters.

On-The-Run U.S. Treasury Curve
Treasury Yield Curve Rates. These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the 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 yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10 and 20 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. (Alternate source of Yield Curve data available in tabular form.)

InterDay Foreign Exchange Rates
Continuously updated currency rates from MarketWatch.

Interest Rates
Federal Reserve Board Statistics: Releases and Historical Data
The weekly release is posted on Monday. Daily updates of the weekly release are posted Tuesday through Friday on this site.

Commercial Paper Rates and Outstandings
Day-old Commercial Paper Rates and Outstandings posted on the Federal Reserve site, derived from data supplied by The Depository Trust Company. Terms of one,7,15,30,60 and 90 days for AA financial, AA nonfinancial and A2/P2 nonfinancial.

Top yielding Institutional Money Market Funds
 iMoneyNet, an Informa Financial company, has been collecting money fund statistics and publishing its flagship Money Fund Report™ since 1975. The Money Fund Report Averages™ are the most widely used benchmarks in the "cash" investment industry and the Money Fund Vision™ database software is used by the majority of money market fund complexes for performance analysis. Some 7-day results available free, longer-term data by subscription.

Bond Calculator
Provides calculations and details for bond valuation problems including:

• Coupon Yield
• Yield to Maturity
• Mark to Market
• Yield on Sale
• Yield to Call
• Comparing Investments

National Muni Bond Yields
The tables and charts below provide yield rates for AAA, AA and A-Rated bonds in 10, 20 and 30-year maturity ranges. These rates reflect the approximate yield to maturity that an investor can earn in today's tax-free municipal bond market (from FMSbonds.com a tax-free municipal bond firm that provides bond buyers with value and insight in the tax-free bond market).

Energy, Metals and Livestock Futures
All futures data are delayed at least 15 minutes.

Historical Interest Rates
FRED provides historical U.S. economic and financial data, including daily U.S. interest rates, monetary and business indicators, exchange rates, and regional economic data. FRED files are grouped into twelve general categories:

• Banking
• Business/Fiscal
• Consumer Price Indexes (CPI)
• Employment & Population
• Exchange Rates
• Gross Domestic Product (GDP) and Components
• Interest Rates
• Monetary Aggregates
• Producer Price Indexes (PPI)
• Reserves and Monetar Base
• U.S. Trade & International Transactions
• U.S. Financial Data

Federal Open Market Committee Meeting Minutes
FOMC meetings are scheduled for Tuesdays. The first and fourth meetings of the year are scheduled to carry over to the next day. The minutes for each meeting of the Federal Open Market Committee are made available a few days after the next regularly scheduled meeting.

GE CFO Solutions
GE CFO Solutions serves the financial needs of companies with revenues of $20MM and above by providing decision-makers with easy access to GE Capital's financing capabilities. Free access to the Structured Financial Solutions Database.
Search by industry, sector, product type, deal size and geographic region.

Bank Rates for mortgages, credit cards, auto loans
Bank Rate Monitor provides more than 1,600 pages of free rates for mortgages, home equity loans, savings, new and used auto loans credit cards and checking accounts via the Internet. BRM also tracks retail ATM and checking account fees and online banking fees. More than 2,500 institutions are surveyed weekly. The database is updated nightly Monday through Friday.

Terms of Business Lending Fed Survey
These data are collected during the middle month of each quarter and are released in the middle of the succeeding month. The reports appear in text format and are also available as Adobe Acrobat PDF files.

Commercial Borrowing, Lending and Loan Syndications

Commercial Lending Directory
From Google, a directory of banks and corporations making commercial loans of various durations.