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Capital Markets
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.
The Federal Reserve Bank of New York provides one of the better sites
for daily rates on commercial paper (CP) and foreign exchange (FX). Daily
rates are available for dealer-placed and direct-placed commercial paper
plus 36 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 (e.g.,
118.33 yen/dollar) except for U.K. Sterling rates which are shown in terms
of U.S. dollars per pound. 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:
Recommended further reading:
Summary
Reports for Financial Statistics
Trading and
Capital-Markets Activities Manual by the Federal Reserve Board
Type of
Instruments
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