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December 15, 1969. L.4.1 CONFIDENTIAL (FR) 0£v I 9 l i 5 9 „ P«sPorrh bi>!ars SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF October 29, 1969. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE 1 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT MEEKLY REPORTING BANKS AS OF 29 OCT 1969 AMOUNT (MILLIONS OF DOLLARS) CD'S MATURING IN PERCENTAGE DISTRIBUTION CUMULATIVE PERCEN TAGE SALES SINCE PREVIOUS MONTH 2/ (MILLIONS OF DOLLARS) 304.9 2.6 2.6 .0 NOVEMBER 2,370.0 20.6 23.2 662.4 DECEMBER 2,271.3 19.7 42.9 345.5 2,344.0 20.3 63.2 883.4 FEBRUARY 847.7 7.4 70.6 69.8 MARCH 925.6 7.2 77.8 175.8 APRIL 908.8 7.9 85.7 538.8 MAY 269.4 2.3 88.0 24.1 JUNE 228.9 2.0 90.0 16.7 JULY 282.6 2.5 92.5 12.5 AUGUST 131.0 1.1 93.6 3.0 SEPTEMBER 219.2 1.9 95.5 57.7 OCTOBER 220.3 1.9 97.4 118.4 3 / 0VFR 12 MONTHS 294.8 2.6 100.0 XXX 11 ,518.7 100.0 XXX 2,908.2 1969 OCTOBER 30 - 31 1970 JANUARY TOTAL ( MEMORANDUM: DECEMBER DECEMBER 91.0 275.4 10 15 TAX AND DIVIDEND MATURITIES) .8 2.4 XXX XXX 1/ TNCL UOES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. ?/ SEE T - C . ' N I C 4L APPFNDI X A . 3/ SALES OF C T S MATURING AFTER 1 1 MONTHS. 15.0 19.9 TABLE 2A 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 29 OCT 1969 ( I N MILLIONS OF DOLLARS) ALL OTHER WEEKLY REPORTING BANKS CHICAGO NEW YORK CITY SALES SINCE PREVIOUS MONTH 2/ - AMOUNT SALES SINCE PREVIOUS MONTH 2/ - AMOUNT SALES SINCE PREVIOUS MONTH 2/ CD* S MATURING IN AMOUNT 1969 OCT 30 - OCT 31 105. 1 .0 7.6 .0 192.2 .0 NOVEMBER 424.3 146.2 149.5 58.2 1,796.-2 458.0 DECEMBER 406.1 66.8 101.2 19.1 1,764.0 259.6 680.0 488.6 102.8 23.9 1,561.2 370.9 FEBRUARY 136.9 31.4 47.8 2.8 663.0 35.6 MARCH 131.0 40.1 46.6 8.0 648.0 127.7 APRIL 233.4 141.5 32.1 16.0 643.3 3 81^3 MAY 84.6 12.0 13.5 .3 171.3 11.8 JUNE 38.4 2.2 28.6 1.9 I6i.gr 12.6 JULY 62.4 1.3 36.4 .3 183.8 10.9 AUGUST 38.5 .0 4.6 .3 87.9 2.7 SEPTEMBER 52. 8 1.9 19.3 .5 147.1 55.3 OCTOBER 32.8 9 . 8 Z3 177.6 80.5 /3 OVER 12 MONTHS 54.1 XXX 18.5 XXX 222.2 XXX 2,480.4 960.1 618.4 141.1 8,419.9 1 ,807.0 1970 JANUARY TOTAL * 2 8 . 1 /3 ( MEMORANDUM: 7.0 67.9 239 11 12 NUMBER OF REPORTING BANKS DECEMBER 10 DECEMBER 15 9.9 2.0 1.4 TAX AND DIVIDEND MATURITIES) 4.9 12.2 .1 .6 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATION OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SFE TECHNICAL APPENDIX A . 3/ SALES OF G O ' S MATURING AFTER 1 1 MONTHS. http://fraser.stlouisfed.org/ * TOTALS " A Y NOT ADO ODE TO ROUNDING. Federal Reserve Bank of St. Louis 79.1 195.3 12.9 17.9 TABLE 2B 1/ MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 29 OCT 1 9 6 9 AND 24 SEP 1 9 6 9 (PERCENTAGE D I S T R I B U T I O N ) 24 SEP 29 OCT 24 SEP 29 OCT 24 SEP 29 OCT 4.2 5.2 1.2 7.1 2.3 6.0 0 1 MONTHS 3 / 17.1 23.9 24.2 19.0 21.3 23.4 0 2 MONTHS 16.4 13.9 16.4 14.4 20.9 14.7 03 MONTHS 27.4 17.0 16.6 12.9 18.5 16.5 0 4 MONTHS 5.5 9.6 7.7 12.4 7.9 13.1 0 5 MONTHS 5.3 5.3 7.5 7.1 7.7 6.9 0 6 MONTHS 9.4 4.6 5.2 6.1 7.6 5.7 0 7 MONTHS 3.4 4.6 2.2 2.5 2.0 2.9 0 8 MONTHS 1.5 3.6 4.6 2.1 1.9 1.8 0 9 MONTHS 2.5 1.8 5.9 4.2 2.2 1.7 10 MONTHS 1.6 3.1 .7 5.7 1.0 1.9 11 MONTHS 2.1 1.9 3.1 .7 1.8 .9 12 MONTHS 1.3 2.5 1.6 3.0 2.1 1.0 2.2 2.9 3.0 2.9 2.6 3.5 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2 / OVER :12 MONTHS TOTAL * 1/ INCLUDES ONLY C E R T I F I C A T E S BANKS. 2/ NUMBER OF DAYS REMAINING I N SURVEY MONTH. T H I S FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER I F * ALL OTHER CHICAGO NEW YORK CITY ! U M INVJ I IN I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 MONTHS FOLLOWING THE SURVEY MONTH. TOTALS MAY NOT ADD DUE TO ROUNDING. OR MORE ISSUED BY WEEKLY REPORTING PERIOD VARIES WITH THE NUMBER OF DAYS TABLE 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NFH YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 29 OCT 1969 AND 24 SEP 1969 (CUMULATIVE DISTRIBUTION) CD'S MATURING IN ALL OTHER CHICAGO NEW YORK CITY 29 OCT 24 SEP 29 OCT 24 SEP 29 OCT 24 SEP 4,2 5.2 1.2 7.1 2.3 6.0 01 MONTHS 3/ 21.3 29.1 25.4 26.1 23.6 29.4 02 MONTHS 37.7 43.0 41.8 40.5 44.5 44.1 03 MONTHS 65,1 60.0 58.4 53.4 63.0 60.6 04 MONTHS 70,6 69.6 66.1 65.8 70.9 73.7 05 MONTHS 75.9 74.9 73.6 72.9 78.6 80.6 06 MONTHS 85.3 79.5 78.8 79.0 86.2 86.3 07 MONTHS 88.7 84.1 81.0 81.5 88.2 89.2 08 MONTHS 90.2 87.7 85.6 83.6 90.1 91.0 09 MONTHS 92.7 89.5 91.5 87.8 92.3 92.7 10 MONTHS 94.3 92.6 92.2 93.5 93.3 94.6 11 MONTHS <*6.4 94.5 95.3 94.2 95.1 95.5 12 MONTHS 97.7 97.0 96.9 97.2 97.2 96.5 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2 / OVER 12 MONTHS 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING RANKS. , / DUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3 / NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. TABLE MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 29 OCT 1969 (AMOUNTS IN MILLIONS OF DOLLARS) 3A SI BILLION AND OVER PRIME 3 / MI LLION AND UNDER MILLION TO MILLION $500 MILLION TO $1 BILLION 305.0 20.4 56.4 39.6 188.6 99.8 NOVEMBER 2,369.9 224.1 454.4 425.9 I t 265.5 DECEMBER 2,271.3 191.2 425.2 442.9 2,344.0 192.2 317.6 FEBRUARY 847.6 67.5 MARCH 825.6 APRIL $2 0 0 1 CD S MATURING IN TOTAL - OUTSIDE NEW YORK CITY NON-PRIME 400.5 496.3 368.7 1,212.0 364.5 462.0 385.5 410.2 1,424.0 629.3 432.5 362.2 175.7 165.0 439.4 119.4 202.4 117.6 92.2 134.3 191.1 408.0 112.5 163.1 132.4 908.8 71.8 140.8 182.6 513.6 216.2 172.9 124.5 MAY 269.4 21.0 36.3 48.7 163.4 82.5 56.3 24.6 JUNE 228.9 15.9 44.0 35.0 134.0 32.3 64.6 37.1 JUL Y 2 82.5 16.4 21.8 53.2 191.1 52.9 80.4 57.8 AUGUST 131.0 7.8 18.7 12.5 92.0 33.9 40.1 18.0 SEPTEMBER 219.2 8.6 50.8 34.5 125.3 41.7 54.8 28.8 OCTOBER 220.2 3.1 21.6 23.7 171.8 31.6 110.9 29.3 N0VF38ER On LATER 294.9 10.9 31.4 57.9 194.7 51.0 92.1 51.6 11,518.3 943.1 1,929.0 2,122.8 6,523.4 2,268.1 2,478.8 1,776.5 9.8 1969 OCT 30-31 1970 JANUARY TOTAL * (MEMORANDUM: : TOTAL NEW YORK CITY TAX AND DIVIDEND MATURITIES) DECEMBER 10 91.0 15.1 16.0 18*9 41.0 7.0 24.2 DECEMBER 15 275.4 18.8 37.2 53.5 165.9 61.8 60.1 (MEMORANDUM: 262 TnTALS MAY MOT ADO DUE TO ROUNDING. 91 44.0 NUMBER OF BANKS) 85 49 37 12 ST QUALITY AND WHICH ARE 18 TABLE SALES / ! / 3B OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3 / AS OF 29 OCT 1969 (AMOUNTS IN MILLIONS OF DOLLARS) SI BILLION AND OVER CD'S MATURING IN 1969 OCT TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION PRIME 4 / TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 30-31 NOVEMBER 662.3 64.5 90.7 108.7 398.4 141.3 162.4 94.7 DECEMBER 345.6 26.9 81.6 57.0 180.1 62.9 70.0 47.2 8 83.6 55.2 73.9 86.0 668.5 451.9 114.0 102.6 69.8 5.8 4.9 12.8 46.3 28.2 9.8 8.3 MARCH 176.0 19.0 29.7 38.2 89.1 39.0 25.0 25.1 APRIL 538.8 48.7 88.4 101.3 300.4 135.9 91.7 72.8 MAY 24.1 3.5 3.2 3.9 13.5 11.5 0.7 1.3 JUNE 16.6 2.2 6.2 1.0 7.2 2.2 2.9 2.1 JULY 12.5 3.9 0.7 0.2 7.7 1.1 0.4 6.2 3.1 0.4 0 .6 0.1 2.0 0.0 1.0 1.0 SEPTEMBER 57.8 4.6 31.8 9.5 11.9 1.9 2.5 7.5 OCTOBER OR LATER 118.5 5.2 24.5 15.8 73.0 28.2 18.3 26.5 2,908.7 239.9 436.2 434.5 1,798.1 904.1 498.7 395.3 1970 JANUARY FEBRUARY AU GUST TOTAL * I MEMORANDUM: TAX AND DIVIDEND MATURITIES) DECEMBER 10 15.0 2.3 0.8 1.6 10.3 2.0 7.1 1.2 DECEMBER 15 19.9 3.0 0.8 5.4 10.7 1.4 5.8 3.5 12 18 |MEMORANDUM: 262 91 NUMBER OF BANKS) 85 49 37 2/ INCLUDE^CERTIFICATFSXINeDENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. " Digitized *for FRASER TOTALS MAY NOT ADO DUE TO ROUNDING. - " MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 29 OCT 1969 PERCENTAGE DISTRIBUTION T&RLE 3C $1 BILLION AND OVER $2 0 0 CD*S MATURING IN TOTAL MI LLION A NO UNDER $200 MILLION TO $500 MILLION PRIME 3 / TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 2.2 2.6 2.2 2.9 1.9 20.6 23.8 23.6 20.1 19.4 17.7 20.0 20.8 NOVEMBER 19.7 20.3 22.0 20.9 18.6 16.1 18.6 21.7 DECEMBER 20.4 20.4 16.5 19.3 21.8 27.7 17.4 20.4 7.4 7.2 9.1 7.8 6.7 5.3 8.2 6.6 FEBRUARY 7.2 9.8 7.0 9.0 6.3 5.0 6.6 7.5 MARCH 7.9 7.6 7.3 8.6 7.9 9.5 7.0 7.0 APR IL 2.3 2.2 1.9 2.3 2.5 3.6 2.3 1.4 MAY 2.0 1.7 2.3 1.6 2.1 1.4 2.6 2.1 JUNE 1.7 1.1 2.5 2.9 2.3 3.3 2.5 3.2 JUL Y 1.1 0.8 1.0 0.6 1.4 1.5 1.6 1.0 AUGUST 0.9 2.6 1.6 1.9 1.8 1.6 1.9 2.2 SEPTEMBER 0.3 1.1 1.1 2.6 4.5 1.6 1.9 1.4 OCTOBER NOVEMBER OR LATER 2.6 1.2 1.6 2.7 3-0 2.2 3.7 2.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 OCT 30-31 1970 JANUARY TOTAL * I MEMORANDUM: TAX AND OIVIDEND MATURITIES) 0.8 1.6 0.8 0.9 0.6 0.3 1.0 0.6 DECEMBER 10 I.** 2.5 2.5 2.7 2.4 DECEMBER 15 2.0 2.5 2.4 i: * $500 MILLION TO $1 BILLION TOTALS MAY NOT ADO DUE TO ROUNDING. - — " TA9LE 3D MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 29 OCT 1969 CUMULATIVE PERCENTAGE $1 BILLION AND OVER MATURING IN > OCT 30-31 TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION - PRIME 3 / TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 2.6 2.2 2.9 1.9 2.9 4.4 2.0 2.2 NOVEMBER 23,2 26.0 26.5 22.0 22.3 22.1 22.0 23.0 DECEMBER 42.9 46.3 48.5 42.9 40.9 38.2 40.6 44.7 63.3 66.7 65.0 62.2 62.7 65.9 58.0 65.1 FEBR UARY 70.7 73.9 74.1 70.0 69.4 71.2 66.2 71.7 MARCH 77.9 83.7 81.1 79.0 75.7 76.2 72.8 79.2 APRIL 85.8 91.3 88.4 87.6 83.6 85.7 79.8 86.2 MAY 88.1 93.5 90.3 89.9 86.1 89.3 82.1 87.6 JUNE 90.1 95.2 92.6 91.5 88.2 90.7 84.7 89.7 JULY 92.6 96.9 93.7 94.0 91.1 93.0 87.9 93.0 AUGUST 93. 7 97.7 94.7 94.6 92.5 94.5 89.5 94.0 SEPTEMBER 95.6 98.6 97.3 96.2 94.4 96.3 91.7 95.6 OCTOBER 97.5 98.9 98.4 97.3 97.0 97.7 96.2 97.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 • JANUARY NOVEMBER OR LATER 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST OUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TABLE SALES / ! / OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 29 OCT 1969 PERCENTAGE DISTRIBUTION 3E $1 BILLION AND OVER MI LLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION $200 1 CD S MATUP ING IN 1969 OCT TOTAL PRIME 4 / TOTAL 30-31 OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY NOVEMBER 22.8 26.9 20.8 25.0 22.2 15.6 32.6 24.0 DECEMBER 11.9 11.2 18.7 13.1 10.0 7.0 14.0 11.9 30.4 23.0 16.9 19.8 37.2 50.0 22.9 26.0 FEBRUARY 2.4 2.4 1.1 2.9 2.6 3.1 2.0 2.1 6.1 7.9 6.8 8.8 5.0 4.3 5.0 6.3 MARCH 18.5 20.3 20.3 23.3 16.7 15.0 18.4 18.4 APRIL 0.8 1.5 0.7 0.9 0.8 1.3 0.1 0.3 MAY 0.6 0.9 1.4 0.2 0.4 0.2 0.6 0.5 JUNE 0.4 1.6 0.2 0.0 0.4 0.1 0.1 1.6 JULY 0.1 0.2 0.1 0.0 0.1 0.0 0.2 0.3 AUGUST 2.0 1.9 7.3 2.2 0.7 0.2 0.5 1.9 SEPTEMBER OCTOBER OR LATER 4.1 2.2 5.6 3.6 4.1 3.1 3.7 6.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 JANUARY TOTAL * (MEMORANDUM: DECEMBER DECEMBER 10 0.5 15 0.7 TAX AND DIVIDEND MATURITIES) 1.0 0.2 0.4 0.6 0.2 1.4 0.3 1.3 0.2 1.2 °»6 0.2 1.2 0.9 NUMBER OF BANKS) (MEMORANDUM: 262 i M TOTALS A Y NOT ADO DUE TO ROUNDING. Digitized *for FRASER 91 85 49 37 12 18 - --- TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE T I M E CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES ( I N MONTHS) DATE OF SURVEY BANK C L A S S I F I C A T I O N 29 OCT 1969 2 7 AUG 1 9 6 9 24—SEP 1 9 6 9 C BY LOCATION 1 ALL REPORTING BANKS 3.3 3.4 3.4 NEW YORK C I T Y 3.4 3.7 3.3 CHICAGO 3.7 3.9 3.4 OTHER 3.3 3.3 3.4 ISSUING CD'S (BY S I Z E OF BANK) UNDER $ 2 0 0 M I L L I O N 2.9 2.9 2.9 $200-$500 MILLION 3.0 3.0 3.1 $ 5 0 0 - $ I §000 M I L L I O N 3.3 3.3 3.3 OVER 3.5 3.7 3.6 PRIME I N NEW YORK C I T Y 3 / 3.3 3.6 3.2 PRIME OUTSIDE NEW YORK CITY 3 / 3.8 4.0 3.9 NON-PRIME 3.3 3.4 3.4 $1 B I L L I O N 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS AS REPORTED I N 2/ I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. THE CALL REPORT OF CONDITION ON DECEMBER 31* 1965. TABLE 48 AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLO BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS ( I N MONTHS) DATE OF SURVEY BANK CLASSIFICATION 29 OCT 1969 24-SEP 1969 27 AUG 1969 (BY LOCATION) ALL REPORTING BANKS 3.3 3.9 3.2 NEW YORK CITY 3.1 4.6 2.8 CHICAGO 2.8 5.3 2.8 OTHER 3.5 3.6 3.3 ISSUING CD'S (BY SIZE OF BANK) 2/ UNDER $200 MILLION 3.3 3.4 3.2 $200-$500 MILLION 4.0 3.4 3.4 $500-$1»000 MILLION 3.4 3.6 3.4 OVER $1 BILLION 3.1 4.2 3.0 PRIME IN NEW YORK CITY 3/ 3.1 4.5 2.6 PRIME OUTSIDE NEW YORK CITY 3/ 2.9 4.3 3.3 NON-PRIMF 3.6 3.8 3.3 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. ?/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. MOTE—SEE TECHNICAL APPENDIX 8. TABLE 5 A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY TOTAL DEPOSITS 2 / ( I N MILLIONS OF DOLLARS) 29 OCT 1969 24 SEP 1969 27 AUG 1969 ALL BANKS ISSUING CD'S 5.4 5.6 6.1 UNDER 200 6.1 6.4 6.7 200 - 500 6.1 6.6 7.3 500 - 1000 5.7 6.3 7.0 OVER 1000 5.1 5.0 5.4 PRIME IN NEW YORK 3 / 4.5 3.8 4.2 PRIME OUTSIDE NEW YORK 3/ 4.8 5.2 5.5 NONPRIME 6.8 7.1 7.5 1/ INCLUDES CERTIFICATES I N DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. MOTE- DEPOSITS TN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 5B RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 29 OCT 1969 (NUMBER OF BANKS) TOTAL DEPOSITS 2 / 5% OR LESS ( I N MILLIONS OF DOLLARS! ALL BANKS ISSUING CD'S 5 TO 10% 15 TO 20% 10 TO 15% 20 TO 25% 25% OR MORE AVERAGE CD TO DEPOSIT RATIO 1 PER CENT) 130 86 26 18 2 0 5.4 UNDER 200 45 28 12 5 1 0 6.1 200 - 500 42 26 6 10 1 0 6.1 500 - 1000 28 15 3 3 0 0 5.7 15 17 5 0 0 0 5.1 4 3 0 0 0 0 4.5 7 1 0 0 0 4.8 7 4 0 0 0 6.8 OVER 1000 PRIME IN NEW YORK 3 / PRIMF OUTSIDE NEW YORK 3 NONPRIME / 4 7 1/ INCLUDES CERTIFICATES I N DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN I OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- DEPOSITS TN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 5C PER CENT CHANGE I N OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E OF DEPOSIT / I 24 SEP 1969 TO 29 OCT 1969 (NUMBER OF BANKS) DECLINES OF TOTAL DEPOSITS 2 / T I N M I L L I O N S OF DOLLARS) REDUCE0 C D ' S TO ZERO ALL BANKS ISSUING CD'S 10% OR MORE 5 TO 10% 5% OR LESS NO CHANGE INCREASES OF — — — — — — — — — — — — — — ISSUED CO * S BUT 5% OR 5 TO 10% OR HAD NONE OUTSTAND LESS 10% MORE ING ON BASE DATE 80 49 56 15 23 16 21 UNDER 200 2 20 15 23 7 10 6 9 1 200 - 500 1 27 19 16 6 7 6 3 1 500 - 1000 0 25 4 12 2 4 1 1 0 0 8 11 5 0 2 3 8 0 0 0 0 0 0 0 1 6 0 PRIME OUTSIDE NEW YORK 3 / 0 3 5 3 0 0 1 0 0 NONPRIME 0 5 6 2 0 2 1 2 0 OVER 1000 PRIME I N NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , N0Te - & s s s ^ s s ' a . ' s i OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965. "N"s TH,T TABLE 50 PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT Z1 30 JUL 1969 TO 29 OCT 1969 (NUMBER OF BANKS) TOTAL DEPOSITS Z2 (IN MILLIONS OF DOLLARS) REDUCED CD'S 25 % OR TO ZERO MORE 10 TO 15% 15 TO 20% 20 TO 25% ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE INCREASE OF DECLINES OF 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 25% OR MORE 20 TO 25% 15 TO 20% 10 TO 15% ALL BANKS ISSUING CO1 S 7 73 23 32 38 23 19 8 12 9 5 6 1 10 3 UNDER 2C0 3 17 8 9 8 8 9 3 9 4 2 4 1 7 2 200 - 500 1 26 9 7 17 9 4 4 1 3 1 0 0 3 1 500 - 1000 3 23 5 7 6 4 2 1 1 0 0 0 0 0 0 0 7 1 9 7 2 4 0 1 2 2 2 0 0 0 PRIME IN NEW YORK 3/ 0 0 0 0 1 0 1 0 1 1 1 2 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 2 1 4 4 1 0 0 0 0 0 0 0 0 0 NONPRI*c 0 5 0 5 2 1 3 0 0 1 1 0 0 0 0 OVER 1000 1/ TNCLUOES CERTIFICATES IN OENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. — z OUTSTANDINGS TO ZERO. ;s«es,s.K"9,NKS TH " TABLE 5E CHANGE I N OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 24 SEP 1969 TO 29 OCT 1 9 6 9 (NUMBER OF BANKS I F I N M I L L I O N S OF DOLLARS) ALL BANKS CD'S ISSUING INCREASES OF DECLINES OF TOTAL DEPOSITS 2 / 3% AND OVER 2 TO 3% 1 TO 2% 1% ANO LESS NO CHANGE 1% AND LESS 1 3% AND OVER 2 TO 3% TO 2% 3 5 40 140 15 48 5 2 2 UNDER 2 0 0 2 0 9 48 7 22 0 1 1 200 - 500 1 3 14 46 6 12 1 0 1 500 - 1000 0 2 13 26 2 6 0 0 0 0 0 4 20 0 8 4 1 0 0 0 0 0 0 4 2 1 0 PRIME OUTSIDE NEW YORK 3 / 0 0 1 10 0 I 0 0 0 NONPRIME 0 0 3 10 0 3 2 0 0 OVER 1000 PRIME I N NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , NOTE- OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965. DEPOSITS I N THE DENOMINATOR OF THE RATIO I N T H I S TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT D E P O S I T S . TABLE 5F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 30 JUL 1969 TO 29 OCT 1969 (NUMBER OF BANKS 1 TOTAL DEPOSITS 2/ C IN MILLIONS OF DOLLARS) DECLINES OF 5% AND OVER 4 TO 5% 3 TO 4% INCREASES OF 2 TO 3% 1 TO 2% 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 2 TO 3% 3 TO 4% 4 TO 5% 5% AND OVER ALL BANKS ISSUING CD'S 9 11 16 27 62 84 8 37 3 0 0 1 1 UNDER 200 3 4 5 5 16 27 3 24 1 0 0 0 1 200 - 500 5 6 4 8 21 28 4 6 1 0 0 1 0 500 - 1O00 1 1 6 8 15 16 1 1 0 0 0 0 0 0 0 1 6 10 13 0 6 1 0 0 0 0 PRIME IN NEW YORK 3 / 0 0 0 0 0 2 0 4 1 0 0 0 0 PRIME OUTSIDE NEW YORK 3 / 0 0 0 2 5 5 0 0 0 0 0 0 0 NONPRIME 0 0 1 4 5 6 0 2 0 0 0 0 0 OVER 1000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTF- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 OCT 1969 (AMOUNTS IN MILLIONS OF DOLLARS) ALL DI STRICTS BOSTON 304.8 13.1 NOV 237 0.2 DEC CD'S MATURING IN RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLI S KANSAS CITY DALLAS SAN FRANCISCO PHILADELPHIA CLEVELAND 121.7 3.5 15.0 10.4 6.6 26.3 4.0 1.2 31.3 17.4 54.3 125.1 678.8 51.2 133.8 68.4 126.2 308.7 68.2 19.7 99.4 166.4 524.3 22 71.1 162.a 637.2 46.7 136.0 70.7 92.3 262.3 71.4 26.3 79.9 208.4 477.0 1970 JAN 2344.0 95.4 822.6 54.0 125.3 55.8 100.9 228.9 47.0 29.6 47.8 280.8 455.9 FEB 847.6 28.5 188.1 19.5 78.9 26.0 46.4 117.3 19.5 5.2 34.0 82.3 201.9 MAR 825.6 38.1 201.6 16.7 50.4 38.5 31.1 99.7 31.1 4.6 17.9 110.9 185.0 APR 908.7 18.7 287.3 19.4 69.3 35.0 35.1 85.6 39.3 4.9 24.9 104.1 185.1 269.5 7.0 96.3 11.1 13.0 3.9 8.2 27.9 8.2 0.7 5.6 33.3 54.3 MAY 229.1 15.9 50.4 8.1 18.4 8.2 9.3 52.4 2.0 1.5 5.0 12.4 45.5 J UN 282.5 8.5 78.8 14.8 29.6 4.0 6.4 42.7 3.1 0.7 5.3 32.6 56.0 JUL 131.0 4.2 44.3 4.4 17.6 3.1 2.3 15.1 2.3 0.0 1.9 6.5 29.3 AUG 219.3 6.5 59.1 5.9 33.4 37.8 1.9 25.1 4.1 1.0 3.4 7.3 33.8 SEP 220.4 8.6 37.8 17.4 74.2 11.4 2.3 15.2 3.3 0.6 1.0 9.5 39.1 ncT 294.9 8.0 73.6 11.7 88.6 8.2 9.3 38.4 1.9 7.1 1.1 13.4 33.6 NOV OR LATER 883.5 381.4 478.3 1345.6 305.4 103.1 358.5 1085.3 2375.1 1969 OCT 30-OCT 31 AVERAGE MATURITY NUMBER OF REPORTING 1/ INCLUDES ONLY CERTIFICATES NEW YORK 2.7 3.1 4.2 5.0 4.0 2.8 3.3 3.0 3.1 2.3 3.2 3.1 17 46 10 19 16 23 37 11 5 21 24 33 ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING. TABLE 68 1/ 2/ S&LFS OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 OCT 1969 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN ALL 01 STRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATL ANT A CHICAGO ST. LOUIS MINNEAPOLI S KANSAS CITY DALLAS SAN FRANCISCO 1969 NOV 659.4 18.2 224.1 4.7 27.0 19.6 25.6 83.9 11.5 2.0 17.9 46.6 178.3 DEC 343.3 1 8.5 121.8 3.5 22.0 8.3 7.8 37.1 7.1 1.6 14.3 32.4 68.9 1970 JAN 886 .7 4 3.4 530.0 18.8 21.3 20.5 23.8 48.3 12.2 16.2 6. 8 44.7 100.7 FEB 69.9 0.2 40.2 0.4 2.7 2.4 0.1 7.1 0.5 0.3 0.2 3.9 11.9 MAR 175.6 10.5 58.5 2.4 6.1 4.5 6.9 15.4 3.8 0.7 2.1 23.9 40.8 APR 53 8.6 8.1 168.5 11.6 32.1 27.3 25.0 46.6 10.0 4. 3 16.4 77.2 111.5 MAY 24.2 1.0 12.6 0.1 0.0 0.0 1.0 0.9 0.7 0.3 1.0 4.0 2.6 J UN 16.7 0.2 2.7 0.0 0.5 3.9 1.4 4.0 0.1 0.6 0.0 1.7 1.6 JUL 12.6 0.0 4.8 0.4 0.1 0.7 0.0 0.6 0.2 0.0 0.0 1.9 3.9 AUG 3.1 0.0 0.2 0.1 0.6 0.0 0.6 0.3 0.0 0.0 0.1 0.4 0.8 SEP 57. 8 1.9 3.3 0.7 4.7 26.9 0.6 0.4 3.2 0.0 1.0 5.3 9.8 120.3 3.4 34.2 17.8 2.7 10.8 3.0 18.5 0.9 0.6 1.0 4.8 22.6 290 8.2 105.4 1200.9 60.5 119.8 124.9 95.8 263.1 50.2 26.6 60.8 246.8 553.4 3.3 3.0 2.9 5.8 3.4 5.6 3.3 3.2 3.4 3.2 2.9 3.7 3.1 OCT OR LATER TOTAL * AVERAGE MATURITY IN MONTHS 3/ 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX R. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT I / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 OCT 1969 (PERCENTAGE DISTRIBUTION! CO* S MATUR TNG IN ALL 01 s - TRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLI S KANSAS CITY DALLAS SAN FRANCISCO 2.6 2.5 3.6 1.2 1.7 2.7 1.4 2.0 1.3 1.2 8.7 1.6 2.3 NOV 20.6 22.9 20.1 18.0 15.1 17.9 26.4 22.9 22.3 19.1 27.7 15.3 22.1 DEC 19.7 29.8 18.9 16.4 15.4 18.5 19.3 19.5 23.4 25.5 22.3 19.2 20.1 1970 JAN 20.4 17. 8 24.4 19.0 14.2 14.6 21.1 17.0 15.4 28.7 13.3 25.9 19.2 FEB 7.4 5.3 5.6 6.9 8.9 6.8 9.7 8.7 6.4 5.0 9.5 7.6 8.5 MAR 7.2 7.1 6.0 5.9 5.7 10.1 6.5 7.4 10.2 4.5 5.0 10.2 7.8 APR 7.9 3.5 8.5 6.8 7.8 9.2 7.3 6.4 12.9 4.8 6.9 9.6 7.8 MAY 2.3 1.3 2.9 3.9 1.5 1.0 1.7 2.1 2.7 0.7 1.6 3.1 2.3 J UN 2.0 3.0 1.5 2.8 2.1 2.1 1.9 3.9 0.7 1.5 1.4 1.1 1.9 JUL 2.5 1.6 2.3 5.2 3.4 1.0 1.3 3.2 1.0 0.7 1.5 3.0 2.4 AUG 1.1 0.8 1.3 1.5 2.0 0.8 0.5 1.1 0.8 0.0 0.5 0.6 1.2 SEP 1.9 1.2 1.7 2.1 3.8 9.9 0.4 1.9 1.3 1.0 0.9 0.7 1.4 OCT 1.9 1.6 1.1 6.1 8.4 3.0 0.5 1.1 1.1 0.6 0.3 0.9 1.6 NOV OR LATER 2.6 1.5 2.2 4.1 10.0 2.1 1.9 2.9 0.6 6.9 0.3 1.2 1.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 OCT 30--OCT 31 TOTAL * 1/ INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6D MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T AS OF 29 OCT 1 9 6 9 (CUMULATIVE PERCENTAGE) C O ' S MATURING IN ALL 01 s- NEW YORK PHILADELPHIA CLEVELAND RICHMONO ATLANTA CHICAGO ST. LOUIS MINNEAPOLI S KANSAS CITY DALLAS SAN FRANCISCO TRICTS BOSTON 2.6 2.5 3.6 1.2 1.7 2.7 1.4 2.0 1.3 1.2 8.7 1.6 2.3 NOV 23.2 25.4 23.7 19.2 16.8 20.6 27.8 24.9 23.6 20.3 36.4 16.9 24.4 DEC 42.9 55.2 42.6 35.6 32.2 39.1 47.1 44.4 47.0 45.8 58.7 36.1 44.5 1 9 7 0 JAN 63.3 73.0 67.0 54.6 46.4 53.7 68.2 61.4 62.4 74.5 72.0 62.0 63.7 FEB 70.7 78.3 72.6 61.5 55.3 60.5 77.9 70.1 68.8 79.5 81.5 69.6 72.2 MAR 77.9 85.4 78.6 67.4 61.0 70.6 84.4 77.5 79.0 84.0 86.5 79.8 80.0 APR 85.8 88.9 87.1 74.2 68.8 79.8 91.7 83.9 91.9 88. 8 93.4 89.4 87.8 MAY 88.1 90.2 90.0 78.1 70.3 80.8 93.4 86.0 94.6 89.5 95.0 92.5 90.1 J UN 90.1 93.2 91.5 80.9 72.4 82.9 95.3 89.9 95.3 91.0 96.4 93.6 92.0 JUL 92.6 94.8 93.8 86.1 75.8 83.9 96.6 93.1 96.3 91.7 97.9 96.6 94.4 AUG 93.7 95.6 95.1 87.6 77.8 84.7 97.1 94.2 97.1 91.7 98.4 97.2 95.6 SEP 95.6 96. 8 96.8 89.7 81.6 94.6 97.5 96.1 98.4 92.7 99.3 97.9 97.0 OCT 97.5 98.4 97.9 95.8 90.0 97.6 98.0 97.2 99.5 93.3 99.6 98.8 98.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 9 6 9 OCT 30 -OCT 3 1 NOV OR LATER 1/ INCLUDES ONLY C E R T I F I C A T E S ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6E SALEVCF 2/ NEGOTIABLE T I M E CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T AS OF 29 OCT 1969 (PERCENTAGE D I S T R I B U T I O N ) ALL DI S TRICTS BOSTON 1 9 6 9 NOV 22.7 18.3 18.7 7.8 DEC 11.8 16.6 10. 1 1 9 7 0 JAN 30.4 39.8 FEB 2.4 RICHMONO ATLANTA ST. LOUIS MINNEAPOLI S KANSAS CITY 22.5 15.7 26.7 31.9 22.9 7.5 29.4 18.9 32.2 5.8 18.4 6.6 8.1 14.1 14.1 6.0 23.5 13.1 12.5 44. 1 31.1 17.8 16.4 24.8 18.4 24.3 60.9 11.2 18.1 18.2 0.2 3.3 0.7 2.3 1.9 0.1 2.7 1.0 1.1 0.3 1.6 2.2 MAR 6.1 10.5 4.9 5.1 3.6 7.2 5.9 7.6 2.6 3.5 9.7 7.4 4.0 APR 18.6 8.1 26.8 21.9 26.1 17.7 19.9 16.2 27.0 20.1 19.2 31.3 14.0 MAY 0. 8 0.0 0.0 1.0 0.3 1.4 1.1 0.5 0.2 1.6 1.0 1.6 1.0 3.1 1.5 1.5 0.3 J UN 0.4 0.7 0.0 0.0 0.2 2.3 0.2 0.2 0.6 0.0 0.2 0.0 JUL 0.1 0.6 0.7 0.7 0.8 0.4 0.0 0.0 0.4 0.4 0.5 0.0 0.1 0.0 0.2 0.1 0.0 0.2 0.2 0.0 0.0 0.1 0.6 AUG 0.6 0.2 0.0 SEP 21.5 1.8 3.9 2.1 0.3 1.2 1.6 1.9 6.4 2.0 8.6 7.0 4.1 2.3 1.9 29.4 1.6 2.8 2.3 3.4 1.8 4. 1 3.1 OCT OR LATER 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 CO* S MATUR ING TOTAL * IN 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY C E R T I F I C A T E S NOTE * NEW YORK PHI L A DELPHI A CLEVELAND ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. SALES I N T H I S TABLE ARE NOT ADJUSTED FOR C D ' S THAT D E T A I L S MAY NOT ADO TO TOTALS DUE TO ROUNDING. CHICAGO SAN FRANCISCO HAVE MATURED. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD 1 s between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD's maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable' to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month--after the survey date--are assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all C D ' s mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce compatibility between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold at the mid-point between surveys, the average maturity of sales would be lengthened relative to the average maturity of outstandings, by, in effect, using an earlier starting date for sales than for outstandings. Sales of CD's maturing in a particular month are often a large and highly variable proportion of total sales while changes in outstandings due in any particular month are a small and rather stable proportion of the level of total outstandings. As a result, the average maturity of sales is much more sensitive to month-to-month variation in the maturity structure of sales than is the case with the outstandings series. Thus, large changes in the calculated average maturity of sales, or situations in which the average maturity of sales differ sharply from the average maturity of outstandings. should be interpreted with care and references should be made to actual dollar sales by month. Formulas for calculation of average maturities are available on request from the Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System.
@FedFRASER