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May 12, 1969 L.4.1 CONFIDENTIAL (FR) % <y *v V % %% \ \ SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF March 26, 1969. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE MATURITY DISTRIBUTION OF OUTSTANDING WEEKLY NEGOTIABLE TIME CERTIFICATES REPORTING AS OF CD'S MATURING 1969 MARCH 1970 AMOUNT ( M I L L I O N S OF DOLLARS) IN 26 MAR 1/ OF D E P O S I T AT BANKS 1969 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE S A L E S SINCE P R E V I O U S MONTH 2/ ( M I L L I O N S OF D O L L A R S ) 854.7 4.5 4.5 .0 APRIL 4,239.7 22.6 27.1 894.8 MAY 2,580.9 13.7 40.8 301.9 JUNE 3,316.9 17.7 58.5 731.4 JULY 2,368.0 12.6 71.1 60.6 AUGUST 1,463.5 7.8 78.9 116.2 SEPTEMBER 1 ,297.0 6.9 85.8 685.1 OCTOBER 567.4 3.0 88.8 55.8 NOVEMBER 286.0 1.5 90.3 26.2 DECEMBER 462.3 2.5 92.8 44.3 JANUARY 443.3 2.4 95.2 39.8 FEBRUARY 258.9 1.4 96.6 37.8 MARCH 180.3 1.0 97.6 173.5 467.8 2.5 100.0 XXX 18,786.7 100.0 XXX 3,167.2 OVE° 27 - 31 12 M O N T H S TOTAL (MEMORANDUM: 170.4 536.4 493.5 J U N E 10 JUN F 16 APRIL 15 1/ 1 TAX AND DIVIDEND MATURITIES) .9 2.9 2.6 XXX XXX XXX INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A- 3/ S A L E S OF CD'S MATURING AFTER 11 MONTHS. 35.2 3/ T A B L E ?A 1/ D I S T R I B U T I O N OE O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T A T N E W YORK C I T Y , C H I C A G O , A N D ALL O T H E R W E E K L Y R E P O R T I N G B A N K S MATURITY AS OF 26 (IN M I L L I O N S NEW CD'S 1969 MATJRTNG IN AMOUNT OF 1969 DOLLARS) YORK C I T Y SALES PREVIOUS ALL CHICAGO SINCE MONTH AMOJNT 2/ - SALES PREVIOUS SINCE MONTH - - OTHER WEEKLY REPORTING AMOUNT 2/ SALES PREVIOUS .0 38.8 .0 568.1 .0 1,077. 8 242.5 238.4 35.8 2,923.5 616.5 MAY 614.8 43.5 280.5 11.5 1,685.6 246.9 JUNE 984.2 139.5 254.5 61.2 2,078.2 530.7 JULY 450.1 8.3 153.6 3.4 1,764.3 48.9 AJ GUST 327.7 14.6 109.7 3.6 1,026.1 98.0 SEPTEMBER 244.7 117.7 98.1 39.9 954.2 527.5 OCTOBER 97.6 12.5 22.2 .2 4 4 7.6 43.1 NOVEMBER 47.6 3.0 27.3 .2 211.1 2 3.0 DECEMBER 94.8 5.0 18.6 .6 348.9 38.7 JANUARY 72.2 1.6 16.5 .5 354.6 37.7 FEBRUARY 49.2 5.1 18.4 1.2 192.3 31.5 MARCH 36.2 53.6 126.8 106.5 74.6 XXX 12.0 XXX 381.2 XXX 4,418.3 646.9 1,305.9 171.5 13,062.5 2,348.8 27 - MAR 31 OVER 12 M O N T H S TOTAL NUMBER OF * REPORTING BANK S (MEMORANDUM: 1/ INCLUDES 57* 8 259.5 141.9 2/ SEE 3/ SALES ONLY TECHNICAL OF CD'S CERTIFICATES IN D E N O M I N A T I O N APPENDIX A. MATURING AFTER 11 M O N T H S . * T O T A L S M A Y N O T A D D DUE TO R O U N D I N G 239 11 12 J J N F 10 J U N E 16 APRIL 15 1 3 . 4 /3 17.3 /3 TAX AND DIVIDEND MATURITIES) 9.7 OF $100,000 OR M O R E 10.1 35.2 38.0 1.8 I S S U E D BY W E E K L Y REPORTING 1 C 2. 5 241.7 313.6 BANKS. BANKS SINCE M O N T H 2/ 247.8 MAR APRIL 1973 MAR 23.7 /3 TABLF MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO, AS OF 26 NEGOTIABLE TIME AND MAR NEW 26 196 9 0-4 DAYS 2/ AT BANKS 1969 DISTRIBUTION) CHICAGO 26 26 F E B MAR ALL 26 F E B OTHER 26 M A R 26 FEB 2.9 3.0 3.2 4.4 2.5 24.4 26.5 18.3 22.6 22.4 22.3 02 M O N T H S 13.9 16.7 21.5 13.7 12.9 17. 1 03 MONTHS 22.3 11.4 19 .5 18.2 15.9 10.7 04 MONTHS 10.2 16.9 11.8 13.1 13.5 11.5 05 MONTHS 7.4 8.8 8.4 10.2 7.9 12.7 06 MONTHS 5.5 6.3 7.5 7.2 7.3 6.9 07 MONTHS 2.2 2.5 1.7 3.9 3.4 3.2 08 MONTHS 1.1 1.7 2.1 1.5 1.6 3.0 09 MONTHS 2.1 .9 1.4 1.8 2.7 1.4 10 M O N T H S 1.6 1.8 1.3 1.2 2.7 2.3 11 M O N T H S 1.1 1.4 1.4 1.1 1. 5 2.3 12 M O N T H S .8 .9 1.3 1.2 1.0 1.2 1.7 1.1 .9 1.1 2.9 3.0 100.0 100.0 100.0 100.0 100.0 OF OR M O R E OVER 3/ 12 M O N T H S TOTAL * INCLUDES ONLY CERTIFICATES BANKS. IN DENOMINATIONS 2/ N U M B E R OF FOLLOWING D A Y S R E G A I N I N G IN S U R V E Y M O N T H . T H I S THE L A S T W E D N E S D A Y OF THE M O N T H . V MONTHS FOLLOWING * REPORTING 1/ DEPOSIT 5.6 01 M O N T H S 1/ A N D 26 FEB YORK CITY MAR C E R T I F I C A T E S OF ALL O T H E R W E E K L Y (PERCENTAGE f**r>J I jC HAI MATIID UK LTMP IN 11T1M !N 2B NUMPER TOTALS OF MAY NOT ADD DUE THE SURVFY TO R O U N D I N G . MONTH. $100,000 100.0 . I S S U E D BY W E E K L Y R E P O R T I N G PERIOD V A R I E S WITH THE N U M B E R OF DAYS TABLE 2C MATURITY DISTRIBUTION NEW YORK OF OUTSTANOING CITY , CHICAGO, AS OF 26 NEGOTIABLE AND MAR ALL 1969 (CUMULATIVE NEW »S M A T U R I N G YORK A N D 26 26 CERTIFICATES WEEKLY FEB 1/ DEPOSIT AT REPORTING BANKS 1969 ALL CHICAGO 26 FEB OF DISTRIBUTION) CITY IN 26 M A R OTHER TIME MAR 26 FEB 26 M A R OTHER 26 FEB 5.6 2.9 3.0 3.2 4.4 2.5 30.0 29.4 Z1.3 25.8 26. 8 24.8 02 M O N T H S 43.9 46.1 42.8 39.5 39.7 41.9 03 M O N T H S 66.2 57.5 62.3 57.7 55.6 52.6 04 MONTHS 76.4 74.4 74.1 70.8 69.1 64.1 05 M O N T H S 83.8 83.2 82.5 81.0 77.0 76.8 06 M O N T H S 89.3 89.5 90.0 88.2 84. 3 83.7 07 MONTHS 91.5 92.0 91.7 92.1 87.7 86.9 08 M O N T H S 92.6 93 * 7 93.8 93.6 89.3 89.9 09 MONTHS 94.7 94.6 95.2 95.4 92.0 91.3 10 M O N T H S 96.3 96.4 96.5 96.6 94.7 93.6 11 M O N T H S 97.4 97.8 97.9 97.7 96.2 95.9 12 M O N T H S 98.2 98.7 99.2 98.9 97.2 97. 1 100. 0 100.0 100.0 100.0 100.0 100.0 0-6 DAYS 01 NVFR 2/ M O N T H S 3/ 12 M O N T H S 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORF ISSUED BY WEEKLY REPORTING BANKS. or DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS ?J FOLLOWING 3/ NU » P ct) THF LAST WEDNESDAY HF THE MONTH. OF MONTHS FOLLOWING THE SURVEY MONTH. ASLF MATURITY D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T AT W E E K L Y R E P O R T I N G BANKS BY S I Z E OF B A N K S 2/ AS DF 26 MAR 1969 ( A M O U N T S IN M I L L I O N S OF D O L L A R S ) 1/ $1 B I L L I O N $2 00 CD'S MAT JR ING 1969 1970 MAR IN 27-31 TOTAL MILLION AND UNDER $200 $500 MILLION TO MILLION $500 $1 AND PRIME MILLION TO BILLION OVER 3/ OUTSIDE NEW YORK CITY NON-PRIMF NEW YORK CITY TOTAL 954.6 74.0 96.0 163.2 521.4 235.0 167.2 119.2 APRIL 4,239.6 329.4 561.1 824.0 2,525.1 993.4 841.1 690.6 MAY 2,580.9 175.6 367.3 446.6 1, 5 9 1 . 4 567.1 636.5 387.8 JUNF 3,316.B 174.4 403.7 607.7 2,131.O 937.7 688.7 504.6 JULY 2,360.0 145.7 362.5 508.3 1,351.5 418.8 556.0 376.7 AUGUST 1,463.5 90.4 291.1 257.7 824.3 298.6 317.4 208.3 SEPTEMBER 1,296.9 84.5 214.6 273.1 724.7 226.2 299.1 199.4 81.9 OCTOBER 567.3 16.6 92.0 97.4 361.3 89.9 189.5 NOVEMBER 286.0 11.0 56.9 48.6 169.5 43.5 85.5 40.5 DECEMBER 462.3 19.7 66.3 110.O 266.3 74.3 104.9 87.1 JANUARY 443,2 24.9 51.8 84.2 282.3 66.2 116.7 99.4 FEBRUARY 258.8 8.3 43.2 43.9 163.4 37.9 90.5 35.0 MARCH 180.2 7.7 23.6 29.1 119.8 30.5 57.3 32.0 APRIL OR L A T E R 467.6 4.3 38.9 82.3 342.1 67.2 221.3 53.6 18,785.7 1 ,166.5 2,669.0 3,576.1 11,374.1 4,086.3 4,371.7 2,916.1 TOTAL * -- ( M E M O R A N D U M : TAX AND DIVIDEND MATURITIES) JUNE 10 170.4 12.1 14.0 40.0 104.3 55.6 22.5 26.2 JUNE 16 536.5 11.8 33.8 74.5 416.4 256.0 102.3 58.1 493.5 23.1 32.4 98.4 339.6 139.8 107.6 92.2 12 18 APRIL 15 I MEMORANDUM: 262 * 1/ 2/ 3/ 90 84 NUMBER OF BANKS ) 51 37 TOTALS MAY NOT ADD DUE TO ROUNDING. I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . TOT AT D E P O S I T S A S R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . B A N K S A R F T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF T H E H I G H E S T TED BY D E A L E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . QUALITY AND WHICH ARE TABLE 36 SALES /!/ OF N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T S I N C E P R E V I O U S MONTH AT WEEKLY R E P O R T I N G BANKS BY S I Z E OF R A N K S 3/ AS OF 26 MAR 1969 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) 2/ $1 B I L L I O N CD'S 1969 MATURING MAP IN TOTAL $200 MILLION A N D UNDER $?00 MILLION TO $500 M I L L I O N $500 M I L L I O N TO $1 B I L L I O N - A N D OVER PRIME TOTAL 4/ NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 27-31 APRIL *94.8 81.2 133.8 183.7 496.1 227.2 115.6 153.3 MAY 301.9 32.7 48.3 68.6 152.3 37.7 55.9 58.7 JUNE 731.3 60.3 129.3 145.4 396.3 128.9 118.7 148.7 60.6 6.5 9.0 16.6 28.5 7.9 12.5 8.1 AUGUST 116.4 9.9 23.1 23.9 59.5 14.0 23.6 21.9 SEPTEMBER 685.0 63.4 109.2 158.6 353.8 105.6 138.3 109.9 OCTOBER 55.8 0.9 15.3 12.1 27.5 11.0 9.9 26.1 6.6 NOVEMBER 0.9 3.8 5.0 16.4 3.0 7.6 5.8 DECEMBER 44.4 1.8 4.3 23.0 15.3 5.0 1.7 8.6 39/9 5.2 4.3 5.2 25.2 1.1 16.1 8.0 37.6 2.4 6.6 4.2 24.4 4.9 18.0 1.5 173.2 7.2 14.3 30.7 121.0 43.7 52.3 25.0 3T167.0 272.4 501.3 677.0 716.3 590.0 570.2 556.1 JULY 1970 J A N U A R Y FEBRUARY MARCH OR LATER TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) JUNE 10 227.8- 11.2- 31.3- 40.8- 144.5- 28. 8- 60.2- 55.5- JUNE 15 306*2- 24.9- 42.9- 22.7- 215.7- 88.3- 51.5- 75.9- 35. I 4.2 5.4 9.0 16.5 9.6 2.7 4.2 37 7 12 18 APRIL IS — 262 11 SEE TECHNICAL 2f 3/ 90 (MEMORANDUM: NUMBER OF BANKS I 84 51 APOFNOIX A. I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY W E E K L Y R E P O R T I N G TOTAL H E O Q S I T S AS R E P O R T E D IN THE CALL R F P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . Digitized*for FRASER T O T A L S M A Y N O T A D D DUE TO R O U N D I N G . BANKS. TABLE 3C M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF AT W E E K L Y R E P O R T I N G BANKS BY S I Z E OF B A N K S 2/ AS OF 26 MAR 1969 PERCENTAGE DISTRIBUTION DEPOSIT 1/ $1 B I L L I O N CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 B I L L I O N - AND OVER PRIME TOTAL N E W YORK CITY 1969 1970 MAO OUTSIDE NEW YORK CITY NON-PRIME 4.5 6.3 3.6 4.6 4.6 5.8 3.8 4.1 APR TL 22.6 28.2 21.0 23.0 22.2 24.3 19.2 23.7 MAY 13.7 15.1 13.8 12.5 14.0 13.9 14.6 13.3 JUNE 17.7 15.0 15.1 17.0 18.7 22.9 15.8 17.3 JULY 12.6 12.5 13.6 14.2 11.9 10.2 12.7 12.9 AUGUST 7.8 7.7 10.9 7.2 7.2 7.3 7.3 7.1 SEPTEMBER 6.9 7.2 8.0 7.6 6.4 5.5 6.8 6.8 OCTOBER 3.0 1.4 3.4 2.7 3.2 2.2 4.3 2.8 NOVEMBER 1.5 0.9 2.1 1.4 1.5 1.1 2.0 1.4 DECEMBER 2.5 1.7 2.5 3.1 2.3 1.8 2.4 3.0 JANUARY 2.4 2.1 1.9 2.4 2.5 1.6 2.7 3.4 FEBRUARY 1.4 0.7 1.5 1.2 1.4 0.9 2.1 1.2 MARCH 1.0 0.7 0.9 0.8 1.1 0.7 1.3 1.1 APRIL 0» L A T E R 2.5 0.4 1.5 2.3 3.0 1.6 5.1 1.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL ?7-31 3/ * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) JJNE 10 0.9 1.0 0.5 1.1 0.9 1.4 0.5 0.9 JUNE 16 2.9 1.0 1.3 2.1 3.7 6.3 2.3 2.0 2.6 2.0 1.2 2.8 3.0 3.4 2.5 3.2 APRIL 15 1/ I N C L U D E S C E R T I F I C A T E S IKI D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 2/ T O T A L O E T I M T S AS R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . 3/ P R I M E R A N K S A R F THHF.F WH3 S P N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N I OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . T O T A L S M A Y N O T A D D D U E TO R O U N D I N G . Digitized *for FRASER AND WHICH ARE TABLE 3D MATURITY D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF AT M E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 2/ AS OF 26 MAR 1 9 6 9 CUMULATIVE PERCENTAGE DEPOSIT 1/ $1 B I L L I O N CD'S MATURING IN TOTAL $200 MILLION A N D UNDER $200 *TLLION TO $500 M I L L I O N $500 $1 MILLION TO BILLION AND OVER PRIME TOTAL N E W YORK CITY 1969 1970 OUTSIDE NEW YORK CITY NON-PRIME 4.5 6.3 3.6 4.6 4.6 5.8 3.8 4.1 APRIL 27. 1 34.5 24.6 27.6 26.8 30.1 23.0 27.8 MAY 40. 8 49.6 3R.4 40. 1 40.8 44.0 37.6 41.1 JUNE 58.5 64.6 53.5 57.1 59.5 66.9 53.4 58.4 JULY 71. 1 77.1 67.1 71.3 71.4 77.1 66.1 71.3 AUGUST 78.9 94.8 78.0 78.5 78.6 84.4 73.4 78.4 SEPTEMBER 85.8 92.0 86.0 86.1 85.0 89.9 80.2 85.2 OCTOBER 88.8 93.4 89.4 88.8 88.2 92.1 84.5 88.0 NOVEMBER 90.3 94.3 91.5 90.2 89.7 93.2 86.5 89.4 DECEMBER 92.8 96.0 94.0 93.3 92.0 95.0 88.9 92.4 JANUARY 95.2 98.1 95.9 95.7 94.5 96.6 91.6 95.8 FEBRUARY 96.6 98.8 97.5 96.9 95.9 97.5 93. 7 97.0 MARCH 97.6 99.5 98.4 97.7 97.0 98.2 95.0 98.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MAP 27-31 APRIL OR L A T E R 1/ 2/ 3/ 3/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . T O T A L D E P O S I T S AS R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . P R I M E B A N K S A R E T H O S F W H 3 S F N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . QUALITY AND WHICH ARE TABLF T: SALES /IZ OF N E G O T I A B L E TIMF C E R T I F I C A T E S OF DEPOSIT SINCE P R E V I O U S MONTH AT W E E K L Y R E P O R T I N G BANKS BY S I Z E OF B A N K S 3/ AS OF 2 6 MAR 1969 PERCENTAGE DISTRIBUTION 2/ $1 B I L L I O N CD'S MATURING 1969 "AR IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 M I L L I O N $500 MILLION TO $1 B I L L I O N - AND PRIME TOTAL OVER 4/ NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 27-31 APR TL 29.3 29.8 26.7 27.1 28.9 38.5 20.3 27.6 9.5 12.0 9.6 10.1 8.9 6.4 9.8 10.6 JUNF 23.1 22.1 25.8 21.5 23.1 21.8 20.8 26.7 JULY 1.9 2.4 1.9 2.5 1.7 1.3 2.2 1.5 AJ GUST 3.7 3.6 4.6 3.5 3.5 2.4 4.1 3.9 21.6 23.3 21.8 23.4 20.6 17.9 24.3 19.8 OCTOBER 1.8 0.3 3.1 1.8 1.6 1.9 1.7 1.2 NOVEMBER 0.8 0.3 0.8 0.7 1.0 0.5 1.5 1.0 DECEMBER 1.4 0.7 0.9 3.4 0.9 0.8 0.3 1.5 1.3 1.9 0.9 0.8 1.5 0.2 2.8 1.4 FEBRUARY 1.2 0.9 1.3 0.6 1.4 0.8 3.2 0.3 MARCH OR L A T E R 5.5 2.6 2.9 4.5 7.1 7.4 9.2 4.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MAY SEPTEMBER 1970 JANUARY TOTAL * (MEMORANDUM: TAX AND DIVIDEND M A T U R I T I E S ) JJNF 10 7.2- 4.1- 6.2- 6.0- 8.4- 4.9- 10.6- 10.0- JUNF 16 9.7- 9.1- 8.6- 3.4- 12.6- 15.0- 9.0- 13.6- 1.1 1.5 1.1 1«3 1.0 1.6 APRIL 15 I MEMORANDUM: 262 90 84 NUMBER OF 0.5 BANKS) 51 37 7 1/ SEF T F C H N ' C A L A P = F N D I X A . 2/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 3/ T O T A L D E P O S I T S AS 1 F " 0 R T E D IN THE C A L L R F P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . 4 ' OR IMF B A N K S A R E T H O S E WH3 SF N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . • T O T A L S M A Y N O T A D D D U E TO R O U N D I N G . 0.8 12 WHICH 18 ARE TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 26 MAR 1969 26-FEB 1969 29 JAN 1969 (BY LOCATION) ALL REPORTING BANKS 3.4 NFW YORK CITY 3.0 3.0 3.1 CHICAGO 3.2 3.2 3.2 OTHER 3.5 3.6 3.6 lA A 3.4 ISSUING CD h S I I I i I ! 1 1 1 1 1 1 1 I 1 (BY SIZE OF BANK) 2/ 2.8 2.8 3.0 $200—$500 MILLION 3.5 3.6 3.6 $500-$11 000 MILLION 3.4 3.4 3.5 OVER $1 BILLION 3.4 3.4 3.5 PRIME IN NEW YORK CITY 3/ 3.0 3.0 3.1 PRIME OUTSIDE NEW YORK CITY 3/ 3.9 3.9 3.9 NON-PRIME 3.4 3.4 3.5 UNDER $200 MILLION If INCLUDES CERTIFICATES IN DENOMINATIONS OF ?/ TOTAL $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. PRTMF BANKS ARF THQSF WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARF REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS Of EACH OTHER WITHIN THE SECONDARY MARKET. T A B L E 4B AVERAGE MATURITY OF NEGOTIABLE SOLD DURING T!ME CERTIFICATES OF BY W E E K L Y REPORTING THF OF V A R I O U S MONTH U N DEPOSIT 1/ BANKS SURVEYS MONTHS ) D A T E OF S U R V E Y a A Mil r 1 ACQTFTfATT flN 26 M A R 1969 26-FEB 29 J A N 1969 1969 (BY L O C A T I O N ! ALL DEPORTING ISSUING BANKS CD'S 3.6 3.6 4.0 3,4 3.2 3.8 CHICAGO 3.7 4.0 4.0 OTHER 3.7 3.7 4.1 NEW YORK CITY (BY S I Z E OF 3.3 3.0 3.5 $200-$500 MILLION 3.4 3.8 4.2 $500-$1,000 MILLION 3.6 3.6 3.9 OVER 3.7 3.7 4.1 3.3 3.1 3.8 4.4 4.1 4.5 3.4 3.7 4.1 UNDER $200 MILLION $1 B I L L I O N PRIME IN N F W PRIME OUTSIDE Y O R K C I T Y 3/ NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS AS REPORTED 3/ PRIME WHICH B A N K S ARF T H O S E ARE R E P O R T E D BY N O T E — S E E TECHNICAL B A N K ) 2/ IN D E N O M I N A T I O N S OF I N THE C A L L $ 1 0 0 , 0 0 0 OR REPORT OF MORE I S S U E D BY M E E K L Y C O N D I T I O N ON D E C E M B E R 31, REPORTING BANKS. 1965. W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D AS B E I N G O F THE H I G H E S T Q U A L I T Y A N D D E A L E R S TO T R A D E W I T H I N I OR 2 B A S I S P O I N T S OF E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T . APPENDIX 9. TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ J1 TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE Of SURVEY TiTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) 26 MAR 1969 26 FEB 1969 29 JAN 1969 ALL BANKS ISSUING CD'S 8.7 9.2 9.5 UNDER 200 7.5 7.5 7.2 200 - 500 8.5 8.8 8.8 500 - 1000 9.0 9.3 9.6 OVER 8.9 9.4 10.0 PR IMF IN NEW YORK 3/ 8.4 9.4 10.2 PRIME OUTSIDE NEW YORK 3/ 8.2 8.5 8.8 11.0 11.5 11.8 1000 N0NPR1ME 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $103,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION QN 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. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. T A B L E 5B RATIO OF OUTSTANDING N E G O T I A B L E TIME TO TOTAL DEPOSITS AS OF MAP. 1969 26 T NUMBER TOTAL DEPOSITS I IN M I L L I O N S OF ALL BANKS CD'S 2/ 5% OR LFSS DOLLARS) CERTIFICATES 5 TO 10% OF OF DEPOSIT 1/ BANKS) 10 TO 15* 15 TO ?,0% 20 TO 25% 25% OR MORE A V E R A G E CO TO D E P O S I T R A T I O (PER C E N T ) ISSUING 90 75 50 35 9 3 8.7 UNDER 200 40 21 19 8 1 I 7.5 200 - 500 32 21 15 10 4 2 8.5 500 - 1000 14 16 8 10 3 0 9.0 4 17 8 7 1 0 8.9 0 5 2 0 0 0 8.4 6 2 1 1 0 8.2 F> 4 6 0 0 11.0 OVER 1000 PRIME W NEW PRIME OUTSIDE YORK NEW 3/ YORK 3 NONPRIME / 2 2 1/ INCLUDES CERTIFICATES 2/ TOTAL 3/ P R I M E B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D W H I C H A R E R E P O R T E D B Y D E A L E R S TO T R A D E W I T H I N 1 OR 2 BASIS P O I N T S O F E A C H O T H E R W I T H I N THE S E C O N D A R Y M A R K E T . NOTE- IN D E N O M I N A T I O N S D E P O S I T S AS R E P O R T E D IN THE CALL OF $100,000 REPORT OF OR M O R F I S S U E D BY W E E K L Y R E P O R T I N G C O N D I T I O N ON D E C E M B E R D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O IN T H I S T A B L F INTERBANK AND U.S. GOVERNMENT DEPOSITS. ARE T O T A L 31, BANKS. 1965. D E M A N D AND TIME DEPOSITS, INCLUDING T A B L E 5C PER CENT CHANGE TN O U T S T A N D I N G N E G O T I A B L E 26 F E B 1969 T O 26 MAR (NUMBER DECLINES TOTAL OFPOSITS ( IN M I L L i f ' N S ALL BANKS CD'S 2/ REDUCED CD 1 S TO ZERO OF DOLLARS) 1 0 % OR MORE TIME OF C E R T I F I C A T E OF D E P O S I T 1969 BANKS) I N C R E A S E S OF OF 5 TO 10% /I 5% OR LESS NO CHANGE 5% OR LESS 1 0 % OR MORE 5 TO 10% I S S U E D C D ' S BUT H A D NONE O U T S T A N D ING ON BASE D A T E ISSUING 0 47 49 59 19 48 17 22 1 UNDER 200 0 15 8 15 9 22 7 13 1 200 - 500 0 11 15 20 8 18 6 6 0 500 - 1000 0 11 15 14 2 3 4 2 0 0 ID II 10 0 5 0 1 0 0 5 2 0 0 0 0 0 0 0 2 4 4 0 2 0 0 0 0 3 5 6 0 3 0 1 0 OVER 1000 PRIME IN N E W YORK PRIME OUTSIDE NEW 3/ YORK 3/ NONPRIMF 1/ INCLUDES CERTIFICATES ?/ T O T A L 3/ DEPOSITS I N DENOMINATIONS AS R E P T R T E O IN THE C A L L PRIME B A N K S ARE THOSE WHOSE NEGOTIABLE W H I C H ARE R E P O R T E D B Y D E A L E R S TO T R A D E NOTF- OF $ 1 0 0 , 0 0 0 OR M O R E REPORT OF CONDITION I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . ON D E C E M B E R 1965. C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D W I T H I N 1 OR 2 BASIS P O I N T S O F E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T . THF N U M B E R OF B A N K S IN T H I S T A B L E D I F F E R S F R O M T H O S E IN M O S T O T H E R H A D O U T S T A N D I N G C D ' S ON THE L A S T S U R V E Y R E D U C E D T H E I R O U T S T A N D I N G S 31, T A B L E S TO THE E X T E N T T H A T B A N K S T H A T TO Z E R O ON T H I S S U R V E Y . TABLE 50 PE3 CF NT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 25 DEC 1968 TO 26 MAR 1969 (NUMBER OF BANKS) TOTAL OFPOSITS /2 f IN MILL THNS flF DOLL ARS) ALL BANKS GO'S REDUCED CD'S 25% OP TO ZERO MORE DECLINES OF 20 TO 25% 15 TO 20% 10 TO 15% INCREASE OF 5 TO 10% 5% OR LESS NO CHANGE 5% OR LFSS 5 TO 10% to TO 15% 15 TO 20% 20 TO 25% 25% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE ISSUING 4 56 15 14 23 32 28 12 18 12 6 16 12 20 3 200 2 16 4 0 3 4 11 6 8 7 4 9 7 13 2 2 0 0 - 500 1 11 7 6 6 13 9 4 6 3 1 6 5 7 1 500 - 1000 I 15 3 5 8 7 5 2 2 2 1 1 0 0 0 OVER 0 14 1 3 6 8 3 0 2 0 0 0 0 0 0 0 6 0 1 0 a 0 0 0 0 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 4 0 1 I 4 2 0 0 0 0 0 0 0 0 NONPRIMF 0 4 I 1 5 4 1 0 2 0 0 0 0 0 0 UNDER 1000 PRIME IN NEW YORK 3/ 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $103,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. V 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- %•f THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 26 FEB 1969 TO 26 MAR 1969 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (TN MILL TONS OF DOLLARS) ALL RANKS CD'S DECLINES OF 3? AND OVER 2 TO 3% I TO 2% INCREASES OF It ANO LESS NO CHANGE It AND LESS 1 TO 2% 2 TO 3% 3% AND OVER ISSUING 2 8 29 116 19 77 7 3 1 200 2 2 3 31 9 35 5 2 1 200 - 500 0 1 12 33 8 29 1 0 0 500 - 1000 0 3 6 31 2 8 0 1 0 OVER 0 2 8 21 0 5 1 0 0 0 0 4 3 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 1 1 a 0 2 0 0 0 NONPRIMF 0 1 3 10 0 3 1 0 0 UNDER 1000 PRIME IN NEW YORK 3/ 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/ PRI«E 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. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. 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 25 DEC 1968 TO 26 MAR 1969 (NUMBER OF BANKS) (IN MILL IONS OF DOLLARS 1 ALL BANKS CD'S ISSUING INCREASES OF DECLINES OF THTAL DEPOSITS 2/ 5% AND OVER 4 TO 51 3 TO 4% 2 TO 3% 1% AND LESS 1 TO 2% NO CHANGE 11 AND UNDER 3 TO 4% 2 TO 31 I TO 21 4 TO 51 51 AND OVER 17 9 15 15 43 76 7 45 23 8 4 1 1 200 2 1 I 0 9 28 2 18 15 8 4 1 0 200 - 500 5 4 6 3 13 24 3 20 7 0 0 0 1 500 - 1000 2 1 6 6 16 12 2 5 I 0 0 0 0 OVER 8 3 2 6 5 12 0 2 0 0 0 0 0 4 3 0 0 1 0 0 0 0 0 0 0 0 UNDER 1000 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3/ 2 0 I 2 1 6 0 0 0 0 0 0 0 NONPRIME 2 0 1 4 3 6 0 2 0 0 0 0 0 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. NOTE- DEPOSITS IN THF DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 6 A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 MAR 1969 (AMOUNTS IN MILLIONS OF DOLLARS) ALL 01 s TRICTS BOSTON 854.7 51.6 APR 4239.7 MAY CD'S MATURING IN KANSAS CITY DALLAS FRANCISCO 62.8 93.8 355.5 826.1 48.8 35.9 70.9 137.4 467.2 432.4 67.1 45.6 78.7 186.8 545.7 85.2 309.4 40.4 35.9 87.1 283. 1 466.3 27.8 44.3 222.7 30.6 20.5 60. 1 120.3 267.2 100.7 56.9 43.0 195.4 38.6 20.0 39.8 94.2 227.8 11.1 46.4 16.8 10.7 63.2 8.7 9.6 26. 1 23.8 170.3 74.3 5.0 30.3 7.7 7.7 60.6 6.5 1.5 5.2 14.9 55.0 56.0 132.0 10.8 34.5 11.3 19.5 50.6 25.4 3.8 8.8 45.9 63.7 443.4 17.9 112.1 19.4 43.4 5.2 19.6 41.9 10.1 3.6 7.8 47.0 115.4 FEB 258.8 8.7 57.8 9.4 26.3 9.6 12.8 34.8 4.3 1.6 3.5 13.4 76.6 MAR 180.4 8. 8 42.3 4.8 16.5 2.6 2.4 29.3 2.7 0.1 5.3 22.5 43.1 APR OR LATER 468.0 19.9 86.2 12.7 186.6 7.6 9.7 47.0 9.9 5.0 0.5 22.0 60.9 1140.2 5866.8 541.6 1493.1 488.9 533.6 2578.8 396.9 257.4 504.9 1446.5 3538.1 3.3 3.0 3.2 4.7 3.2 3.6 3.3 3.6 3.0 3.3 3.3 3.4 18 49 10 16 15 23 36 11 5 21 24 34 ST. LOUIS MINNEAPOLIS 91.2 12.1 11.5 117.2 510.2 91.7 68.1 72. 1 490.1 192.7 85.5 76.3 60.2 223.5 48.4 437.9 29.0 137.4 84.5 359.1 37.0 567.3 46.2 134.4 NOV 286.0 17.3 DEC 462.3 1970 JAN RICHATLANTA MOND PHILADELPHIA CLEVELAND 328.3 27.3 44.2 25.6 13.1 259.0 1427.7 127.2 252.7 115.8 2581.0 160.0 798.6 74.0 157.9 JUN 3317.0 237.3 1255.2 113.7 JUL 2367.9 107.5 620.9 AUG 1463.3 65.5 SEP 1297.0 OCT 1969 MAR 26-MAR 31 AVERAGE MATURITY NUMBER OF REPORTING NEW YORK CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX 8. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 68 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 MAR 1969 (AMOUNTS IN MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 95.4 9.5 8.2 19.5 100.3 156.3 3.7 35.6 6.2 2.6 7.3 29.3 69.3 32.8 12.6 100.9 20.7 8.9 27.8 53.2 129.9 5.8 3.7 0.1 9.6 4.7 1.5 2.2 2.3 9.4 2.3 4.9 4.1 1.3 19.7 1.8 0.4 4.2 11.7 28.0 183.7 17.2 40.5 31.2 22.8 92.0 20.9 6.9 22.8 60.8 132.9 9.8 18.1 1.0 1.7 0.6 1.4 9.4 1.8 5.7 0.4 1.8 4.3 26.2 1.8 8.9 0.6 7.5 0.1 0.2 0.5 2.5 0.1 1.4 0.6 2.0 DEC 45.9 2.2 7.4 0.5 1.6 0.3 0.7 3.8 2 0.7 0.1 0.7 3.0 4.9 1970 JAN 40.0 3.3 1.9 1.2 0.8 0.1 3.0 1.4 3.2 0.0 1.6 1.1 22.4 FEB 37. 7 1.3 5.8 1.0 1.1 0.0 1.5 4.2 0.1 0.0 1.4 1.0 20.3 173.6 12.3 57.1 4.2 9.9 2.6 2.5 13.5 3.5 5. 1 5.3 13.4 44.2 3169.5 235.7 969.4 92.2 152.6 107.0 94.5 386.0 95.6 39.5 94.6 278.5 623.9 3.6 3.7 3.3 3.2 4.0 3.4 3.5 5.2 4.5 3.8 3.1 4.0 ALL DISTRICTS BOSTON 1969 APR 994.8 50.0 MAY 302.0 JUN CD'S MATURTNG IN PI CHMOND ATLANTA PHILADELPHIA CLEVELAND 332. 1 28.5 32.3 18.0 44.7 28.2 79.4 9.6 17.3 13.5 731.4 64.? 228.2 23.0 29.2 JUL 60.6 4.6 13.6 3.1 AUG 116.2 4. 6 33.2 SEP 685. 1 53.4 OCT 56.0 NOV MAR OR LATER TOTAL * AVERAGE MATURITY IN MONTHS 3/ NEW YORK 3. 1 CHICAGO 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 B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 6C MATURITY DISTRIBUTION OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T AT W E E K L Y R E P O R T I N G B A N K S BY F E D E R A L R E S E R V E D I S T R I C T AS OF 26 (PERCENTAGE CD'S ALL DISTRICTS BOSTON 4.5 4.5 APR 22.6 MAY MATURING IN «AR 1Z 1969 DISTRIBUTION) DALLAS FRANCISCO 18.6 24.6 23.3 13.9 14.0 9.5 13.2 16.9 17.7 15.6 12.9 15.4 12.0 10.2 13.9 17.3 19.6 13.2 8.3 8.6 7.7 8.0 11.9 8.3 7.6 11.6 8.1 7.6 9.7 7.8 7.9 6.5 6.4 3.1 3.4 2.0 2.5 2.2 3.7 5.2 1.6 4.8 0.9 2.0 1.6 1.4 2.3 1.6 0.6 1.0 1.0 1.6 2.2 2.0 2.3 2.3 3.7 2.0 6.4 1.5 1.7 3.2 1.8 1.6 1.9 3.6 2.9 1.1 3.7 1.6 2.5 1.4 1.5 3.2 3.3 1.4 0.8 1.0 1.7 1.8 2.0 2.4 1. 3 1.1 0.6 0.7 0.9 2.2 1.0 0.8 0.7 0.9 1.1 0.5 0.4 1.1 0.7 0.0 1.0 1.6 1.2 2.5 1.7 1.5 2.3 12.5 1.6 1.8 1.8 2.5 1.9 0.1 1.5 1.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ST. LOUIS MINNEAPOLIS KANSAS CITY 3.5 3.0 4.5 3.4 22.0 19.8 23.1 24.4 13.9 13.5 19.0 12.3 12.9 17.5 14.3 16.8 11.1 15.0 9.9 16.0 7.5 5.4 9.2 5.7 7.4 6*1 6.8 6.7 3.0 4.1 2.3 2.0 NOV 1.5 1.5 1.3 DEC 2.5 4.9 1970 JAN 2.4 FEB MAR 1969 CLEVELAND 5.6 5.0 3.0 5.2 2.5 22.7 24.3 23.5 16.9 23.7 13.7 14.0 13.6 13.7 10.6 J UN 17.7 2 0.8 21.4 21.0 JUL 12.6 9.4 10.6 AUG 7.8 5.7 SEP 6.9 OCT MAR APR 1/ RICHATLANTA MOND PHILADELPHIA 26-MAR OR 31 LATER INCLUDES ONLY CERTIFICATES ISSUED NEW YORK IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE CHICAGO BY W E E K L Y R E P O R T I N G B A N K S . TABLE 6 D MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 MAR 1969 (CUMULATIVE PERCENTAGE) CD* S MATURING IN ALL DISTRICTS BOSTON 4.5 4.5 APR 27. 1 MAY ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 3.5 3.0 4.5 3.4 5.5 4.3 24.5 23.3 26.1 2 8.9 22.0 30.1 27.6 42.8 38.0 42.3 38.4 42.8 36.0 39.6 40.8 43.4 60.3 52.3 59.1 55.3 60.5 51.6 52.5 56*2 74.3 58.4 70.2 68.3 71.1 65.5 74.4 68.9 72.1 69.4 83.0 79.7 67.6 75.9 76.6 79.7 73.2 82.4 80.8 80.4 77.0 84.5 89.1 86.5 74.3 87.5 84.7 87.3 82.9 90.2 88.7 86.9 83.4 88.8 88.6 91.4 88.5 77.4 90.9 86.7 89.8 85.1 93.9 93.9 88.5 88.2 NOV 90.3 90.1 92.7 89.4 79.4 92.5 88.1 92.1 86.7 94.5 94.9 89.5 89.8 DEC 92.8 95.0 94.9 91.4 81.7 94.8 91.8 94. I 93.1 96.0 96.6 92.7 91.6 1970 JAN 95.2 96.6 96.8 95.0 84.6 95.9 95.5 95.7 95.6 97.4 98. 1 95.9 94.9 FEB 96.6 97.4 97.8 96.7 86.4 97.9 97.9 97.0 96.7 98.0 98.8 96.8 97.1 MAR 97.6 98.2 98.5 97.6 87.5 98.4 98.3 98.1 97.4 98.0 99.8 98.4 98.3 100.0 100. 0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 5.6 5.0 3.0 5.2 2.5 27.2 29.9 28.5 19.9 28.9 40.8 41.2 43.5 42.2 30.5 JJN 58.5 62.0 64.9 63.2 JUL 71.1 71.4 75.5 AUG 78.9 77. 1 SEP 85. 8 OCT 1969 MAR 26-MAR 31 APR OR LATER NEW YORK RICHMOND ATLANTA CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. > T A B L E 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 MAR 1969 (PERCENTAGE DISTRIBUTION) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 24.7 9.9 20.8 20.6 36.0 25.1 3.9 9.2 6.5 6.6 7.7 10.5 11.1 30.7 13.3 26.1 21.7 22.5 29.4 19.1 20.8 3.8 3.5 0.1 2.5 4.9 3.8 2.3 0.8 1.5 2.5 3.2 3.8 1.4 5.1 1.9 1.0 4.4 4.2 4.5 18.9 18.7 26.5 29.2 24.1 23.8 21.9 17.5 24.1 21.8 21.3 4.2 1.9 1.1 1.1 0.6 1.5 2.4 1.9 14.4 0.4 0.6 0.7 0.8 0.8 0.9 0.7 4.9 0.1 0.2 0.1 2.6 0.3 1.5 0.2 0.3 DEC 1.4 0.9 0.8 0.5 1.0 0.3 0.7 1.0 21.7 0.3 0.7 1.1 0.8 1970 JAN 1.3 1.4 0.2 1.3 0.5 0.1 3.2 0.4 3.3 0.0 1.7 0.4 3.6 FEB 1.7 0.6 0.6 1.1 0.7 0.0 1.6 1.1 0.1 0.0 1.5 0.4 3.3 5.5 5.2 5.9 4.6 6.5 2.4 2.6 3.5 3.7 12.9 5.6 4.8 7.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL DISTRICTS BOSTON 1969 APR 28.2 21.2 MAY 9.5 JUN CD'S MATURING IN RICHATLANTA MOND PHILADELPHIA CLEVELAND 34.3 30.9 21.2 16.8 47.3 12.0 8.2 10.4 11.3 12.6 23.1 2 7.2 23.5 24.9 19.1 JUL 1.9 2.0 1.4 3.4 AUG 3,7 2.0 3.4 SEP 21.6 22.7 OCT 1.8 NOV MAR OR LATER TOTAL * NEW YORK CHICAGO 1/ S E E T E C H N I C A L APPENDIX A. 2/ I N C L U D E S ONLY C E R T I F I C A T E S ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. N O T E - SALES * IN THIS TASLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. DETAILS MAY NOT ADD TO T O T A L S DUE TO ROUNDING. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD'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 d a t e — a r e 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 CD'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.
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