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October 19, 1967 L.4.1 CONFIDENTIAL CFRt ^ ' SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF September 27, 1967 Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE 1 MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME WEEKLY AMOUNT ( M I L L I O N S OF DOLLARS) MATURING I N AT REPORTING BANKS AS OF 27 CD'S 1/ C E R T I F I C A T E S HP DEPOSIT SEP 1 9 6 7 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2 / ( M I L L I O N S OF DOLLARS) 607.8 3.1 3.1 .0 OCTOBER 4,520.0 22.7 25.8 905.8 NOVEMBER 2,662.9 13.4 39.2 336. 8 DECEMBER 3,942.3 19.8 59. r 1,226. 7 JANUARY 2,433.7 12.2 71.2 351.3 FEBRUARY 1,276.3 6.4 77.6 158. 7 MARCH 1,241.5 6.2 83.8 502.3 APRIL 711.0 3.6 87.4 107.2 MAY 398.7 2.0 89.4 30.9 JUNE 492.7 2.5 91.9 76.6 JULY 374.0 1.9 93.8 40.7 AUGUST 359.4 1.8 95.6 40. 9 SEPTEMBER 255*9 1.3 96.9 214.5 OVER 622.4 3.1 IOC . o XXX 19,898.6 loo.n XXX 3,992.5 SEPTEMBER 28 - 30 1 2 MONTHS TOTAL (MEMORANDUM: DECEMBER DECEMBER 11 15 215.4 1,075.2 1/ INCLUDES ONLY C E R T I F I C A T E S 2/ SEE TECHNICAL A P P E N D I X A . 3/ SALES OF C D ' S MATURING AFTER 11 MONTHS. TAX AND D I V I D E N D M A T U R I T I E S ) 1.1 5.4 I N DENOMINATIONS OF S 1 0 0 f 0 0 0 XXX XXX OR MORE ISSUED BY WEEKLY REPORTING BANKS. XXX XXX TABLF 2M 1/ MATURITY D I STRIB LT1ON 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 2 7 SEP 1 9 6 7 (IN — — — MILLICNS OF DOLLARS) — CD'S AMOUNT MATURING I N ALL CHICAGO NEW YORK C I T Y SALES SINCE PREVIOUS MONTH 2 / AMOUNT - SALES SINCE PREVIOUS MONTH 2 / OTHER WEEKLY REPORTING BANKS AMOUNT - SALES SINCE PREVIOUS MONTH 2 / 181.5 .0 34.0 .0 392,3 .0 1,480.9 202.4 314 . 6 41.7 2 ,724 • 5 661.7 NOVEMBER 974.1 90.6 172." 21.8 1*566*8 224.7 DECEMBER 1,732.3 661.5 286.4 43.1 1,923.6 523.3 889.7 151.1 277.3 12.8 1,266.7 187.5 FEBRUARY 319.3 53.5 146.5 8.9 810.5 96.0 MARCH 368. 5 141.6 124.8 41.6 748.2 318.5 APRIL 207.1 22.5 66.7 2.1 437.2 82.2 MAY 156.2 3.4 30.7 .2 211.8 27.2 JUNE 160.2 25.5 52.8 2.6 279.7 48.5 JULY 86.2 4.7 48.9 11.4 238.9 24.4 121.4 12.6 29.1 6.1 209.0 22.2 67.9 60.4 16 . 5 7.7/3 171.5 147.6 144.0 XXX 21.6 XXX 456.8 XXX 6,839.3 1 ,42 9 . 8 1,621.8 200.0 11 , 4 3 7 . 5 2 ,363.8 1 9 6 7 SEP 2 8 - SEP 3 0 OCTOBER 1 9 6 8 JANUARY AUGUST SEPT EMBER OVER 1 2 MONTHS TOTAL * /3 (MEMORANDUM: DECEMBER DECEMBER 110.1 674.3 11 15 1/ INCLUDES ONLY C E R T I F I C A T E S 2/ SEE TECHNICAL 3/ SAIES OF C D ' S MATURING AFTER 11 MONTHS. « TOTALS MAY NOT ADD DUE TO ROUNDING. XXX XXX I N DENOMINATION OF $ 1 0 ^ 0 APPENDIX A , 243 11 12 NUMBER OF REPORTING BANKS TAX AND D I V I D E N D M A T U R I T I E S ) 24.6 91.1 XXX XXX OR MORE ISSUED BY WEEKLY REPORT ING B A N K S . 80.7 309.8 XXX XXX /3 TAFLF MATURITY D I S T R I B U T I O N OF n U T S T A » r i !\m. NiF NEW YORK C I T Y , CHICAGO, 7A ^ F ARLF T M L AND ALL AS OF 27 SEP 1 9 6 7 CER1IKLCATBB 0 F DEPOSIT AF OTHER WFFKLY REPORTING BANKS AND AUG 1 9 6 7 (PERCENTAGE D 1STRIBUT ION) C D ' S MATURING NEW YORK C I T Y IN 27 0 - 6 DAYS 2 / SEP 30 CHICAGO AUG 2 7 SEP 2.7 1 .8 2.1 0 1 MONTHS 3 / 21.7 26.7 19.4 02 MONTHS 13.5 17.5 0 3 MONTHS 25.3 0 4 MONTHS 30 AUG .6 27 SEP 3r AUG 3.4 1.7 2^.1 23.8 23. 9 V.6 !5.5 13. 7 17.7 11.4 17.7 8.5 16.8 11.5 13.0 14.6 17.1 13.8 11.1 12.0 0 5 MONTHS 4.7 in .1 9.0 15.0 7.1 9.2 0 6 MONTHS 5.4 3.6 7.7 7.8 6.5 6. I 0 7 MONTHS 3.0 3.1 4.1 4.7 3.8 3.7 0 8 MONTHS 2.3 2.5 1.9 3.7 1.9 3.0 0 9 MONTHS 2.3 2.1 3.3 1.7 2.5 1.6 10 MONTHS 1.3 1.8 3.0 2.8 2. 1 2. 0 11 MONTHS 1.8 1 .1 1.8 2. 1 1.8 1. 8 12 MONTHS 1.0 1 .5 1.0 1.3 1.5 1.6 2.1 2.1 1.3 1.7 4.0 4.1 100.0 100.0 100.0 100 . 0 100.0 100.0 OVER 12 MONTHS TOTAL * 1t INCLUDES ONLY C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , o o o 2/ NUMBER OF DAYS REMAINING I N SURVEY MONTH. T H I S FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY * ALL OTHER TOTALS MAY NOT ADD DUE TU ROUNDING. MONTH. OR MORE ISSUED BY WEEKLY REPORTING PERIOD V A R I E S WITH THE NUMBER OF DAYS TABLE ?C 1/ MATURITY D I S T R I B U T I O N OF OUTSTANDING NFGCT I ABLE T !ME CERT I F I C A T E S .IF DBPFL S I T AT NEW YORK C I T Y , CHICAGO, AS OF 2 7 OTHER WEEKLY REPORTING BANKS AND ALL SEP 1 9 6 7 AND 30 AUG 1 9 6 7 (CUMULATIVE D I S T R I B U T I O N ) NEW YORK C I T Y M S MATURING IN ALL CHICAGO OTHER — 27 SEP 30 AUG 27 SEP 30 AUG 27 SEP 30 AUG 2.7 1.8 2.1 .6 3.4 1.7 0 1 MONTHS 3 / 24.4 28.5 21.5 ?1.3 27.2 2 5.6 0 2 MONTHS 37.9 46.0 32.1 36.8 40.9 43.3 0 3 MONTHS 63.2 57.4 49.8 45.3 57.7 54. 8 0 4 MONTHS 76.2 72.0 66.9 59.1 68.8 66.8 0 5 MONTHS 80.9 82.1 75.9 74.1 75.9 76.0 0 6 MONTHS 86.3 85.7 83.6 81.9 82.4 82.1 0 7 MONTHS 89.3 88.8 87.7 86.6 86.2 85.8 0 8 MONTHS 91.6 91.3 89.6 90.3 88.1 88. 8 0 9 MONTHS 93.9 93.4 92.9 92.0 90.6 90.4 10 MONTHS 95.2 95.2 95.9 94.8 92.7 92.4 1 1 MONTH S 97.0 96.3 97.7 96.9 94. 5 94.2 12 MONTHS 98.0 97.8 98.7 9R.2 96.r 95.8 190.0 100.0 100.0 100.0 100 . 0 100.0 0 - 6 DAYS 2 / OVER 12 MONTHS 1/ INCLUDES ONLY C E R T I F I C A T E S BANKS. I N DENOMINATIONS OF S 1 0 0 , 0 0 0 2/ NUMBER OF DAYS REMAINING I N SURVEY MONTH. T H I S FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. OR MORE ISSUED BY WEEKLY REPORTING PERIOD V A R I E S WITH THE NUMBER OF DAYS MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 2 / AS OF 27 SEP 196 7 (AMOUNTS I N MILLIONS OF DOLLARS) TABLE 3A 1/ $ 1 B I L L I O N AND OVER .CD" S MATURING IN 1967 TOTAL $200 Ml L L I ON AND UNDER $200 MILLION TO $500 M I L L I O N PRIME 3 / $500 MILLION TO $1 BILLION TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 607.8 38.5 82.5 108.1 378« 174.4 113.3 91.0 OCTOBER 4,520.0 210.9 572.8 745.1 2,991. 1.383.3 960.9 647.0 NOVEMBER 2,662.8 140.9 318.4 451.0 1 , 7 52. 881.6 503.6 367.3 DECEMBER 3.942.2 149.0 345.9 460.7 2,986. 1,656.5 870.0 460.1 2,433.7 91.0 229.0 376.2 1,737. 842.3 573.3 321.9 FEBRUARY 1.276.3 59.9 159.0 239.6 817. 299.7 344.3 173.8 MARCH 1,241.5 46.7 152.5 235.0 807 < 33 8 . 3 279.6 189.4 APRIL 711.0 23.8 76.8 110.3 500, 194.0 182.8 123.3 MAY 398.7 11.9 35.3 47.0 304, 151.4 100.5 52.6 JUNE 492.5 20.7 54.3 79.7 337. 149.6 128.5 59.7 JULY 374.0 13.8 38.4 61.9 259, 111.5 68.3 AUGUST 359.4 8.8 68.2 42.6 239 111.3 80.3 48.2 SEPTEMBER 2 55. 8 12.1 24.1 69.1 150 54.7 55.4 40.4 OCTOBER OR LATER 622.3 10.1 66.2 88.0 458.0 135.2 236.8 86.0 19,898.0 838.1 2,223.4 3,114.3 13,722.2 6.452.4 4,540.8 2,729.0 SEP 28-30 1 9 6 $ JANUARY TOTAL * (MEMORANDUM: DECEMBER If DECEMBER 15 TAX AND D I V I D E N D M A T U R I T I E S ) 215.5 4.0 16.7 25.0 169.8 105.7 43.7 20.4 1,075.3 13.5 38.5 63.9 959.4 661.6 232.7 65.1 12 18 (MEMORANDUM: 266 1/ 2/ 3/ 80.1 95 NUMBER OF BANKS) 84 50 37 INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOS ITS AS REPORTED I N THE CALL REPORT OF C ON D ITION CN DECEMBER 3 1 , 1 9 6 5 . PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING DF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. * TOTALS MAY NOT ADD DUE TO ROUNDING. SALES TABLE 3B /IV OF NEGOTTABLF TIME C E R T I F I C A T E S OF DEPOSIT SINCE PREV m u s AT WEEKLY REPORTING 3ANKS BY S I Z E OF RANKS 3 / AS OF 27 SEP 1 9 6 7 (AMOUNTS I N M I L L I O N S OF DOLLARS) $1 B I L L I O N - CD'S 1967 MATURING SEP IN TO TAL $200 MILLION AND UNDER $200 $530 MILLION TO MILLION $1 MILLION TO BILLION PRIME - 4/ OUTSIDE NEW YORK C I TY NON-PRIME NEW YORK CITY TOTAL OCTOBER 905. 8 59.8 143.7 195.8 506.5 185.7 147.0 173.8 NOVEMBER 336.6 22.3 41.4 83.3 189.6 80. 1 56.5 53.0 DECEMBER i» 22 6. 7 48.2 123.1 149.3 906.1 643.3 146.9 115.9 351.3 10.4 15.9 62.6 262.4 134.5 77.1 50.8 FEBRUARY 158.9 4.0 11.9 32.3 110.7 52.7 2 7.8 30.2 MARCH 502.3 29.8 89. 8 91.9 290.8 128.0 95.2 67.6 APR I L 107.3 3.9 13.8 24.7 64.9 22.6 27.8 14.5 NAY 31.0 0.8 3.0 4.3 22.9 2.5 6.4 14.0 JUNE 76.4 3.7 8.2 8.0 56.5 24.3 22.7 9.5 JULY 40. 7 0.5 4.1 4.9 31.2 4.5 19.5 7.2 AUGUST 41.0 2.3 2.1 8.7 27.9 12.7 10.8 4.4 214.3 13.1 34. 1 47.8 119.3 46.6 33.6 39.1 3,992.3 198.8 491.1 713.6 2,588.8 1,337.5 671.3 580.0 SEPTENBER OR LATER TOTAL * turUAn Amn i m # TAX ,AwD DIV r n c k i n u DECEMBER 11 XXX XXX XXX XXX DEC BIBER 15 XXX XXX XXX XXX (MEMORj1NDUM: 1/ 2/ 3/ 4/ AND OVER 28-30 1 9 6 8 JANUARY * $5*0 MONTH 2 / a t h o t t i c c XXX XXX XXX XXX XXX NUMBE R OF BANKS) SEE TECHNICAL APPENDIX A . INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 CR MORE ISSUED BY WEEKLY REPORTING B A N K S . TOTAL I j t P O S I T S AS REPORTED I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST Q U A L I T Y AND WHICH ARF REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF t ACH OTHLR W I . H I N THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 3C MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF OFCPOSIT 1 / AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 2/ AS OF 2 7 SEP 1 9 6 7 PERCENTAGE D I S T R I B U T I O N S I B I L L I O N AND OVFR - CD' S MATURING IN TOTAL S20C MILLION AND UNDER $200 MILLION TO $50n M I L L I O N $500 MILLION TO $1 BILLION - PRIME T3TAL NEW YORK CITY 1967 SEP 28—30 OUTSIDE NEW YORK CITY NON-PRIME 3.1 4. 6 3.7 3.5 2.8 2. 7 2.5 3.3 OCTOBER 22.7 25.2 25.8 23.9 21.8 21.4 21.2 23.7 NOVEMBER 13.4 16.8 14.3 14.5 12.8 13.7 11.1 13.5 DECEMBER 19.8 17.8 15.6 14.8 21.8 25.7 19.2 16.9 12.2 10.9 10.3 12.1 12.7 13.1 12.6 11.8 FEBRUARY 6.4 7.1 7.2 7.7 6.* 4. 6 7.6 6.4 MARCH 6.2 5.6 6.9 7.5 5.9 5.2 6.2 6 .9 APRIL 3.6 2.8 3.5 3.5 3.6 3.0 4. 0 4.5 MAY 2.0 1.4 1.6 1.5 2 .2 2.3 2.2 1.9* JUNE 2.5 2.5 2.4 2.6 2.5 2.3 2.8 2.2 JULY 1.9 1.6 1.7 2.0 1.9 1.2 2.5 2.5 AUGUST 1.8 1.0 3.1 1.4 1.7 1. 7 1.8 1.8 SEPTEMBER 1.3 1.4 1.1 2.2 1.1 0. % 1.2 1 .5 OCTOBER OR L A T E R 3.1 1.2 3.0 2.8 3.3 2.1 5.2 3,2 100.0 100.0 100.0 100." 1C3.0 iro.o 100.0 100.0 1 9 6 8 JANUARY TOTAL * ( NCNUA«NIUU" • 1 A A AIMU D I V I D E N D M A T U R I T I E S ) 11 1.1 0.5 0,8 0.8 1.2 1.6 1.0 0.7 DECEMBER 15 5.4 1.6 1.7 2.1 7r0 10.3 5.1 2.4 DECEMBER 1/ 2/ 3/ * 3/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 CR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF C O N D I T I O N CN DECEMBER 3 1 , 1 9 6 5 . PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING 3 F THE HIGHEST QUALITY AND WHICH ARF REPORTED BY DEALERS TO TRADE W I T H I N t OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. T A B L E 3D M A T U R I T Y D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 2 / AS OF 2 7 SEP 1 9 6 7 CUMULATIVE PERCENTAGE OF D E P O S I T SI CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $5DO M I L L I O N $500 $1 MILLION TO BILLION - 1/ BILLION AND OVER PRIMF TOTAL NEW YORK CITY 1967 SEP 28-30 OUTSIDE NEW YORK CITY NON-PRIME 3.1 4,6 3.7 3.5 2.8 2.7 2.5 OCTOBER 25.8 29.8 29.5 27.4 24.6 24.1 23.7 27*0 NOVEMBER 39.2 46.6 43.8 41.9 37.4 37.8 34. 8 40.5 DECEMBER 59.0 64.4 59*4 56.7 59.2 63.5 54.0 57.4 71.2 75.3 69.7 68.8 71 .9 76.6 66.6 69.2 FEBRUARY 77.6 82.4 76.9 76.5 77.9 81.2 74.2 75.6 MARCH 83.8 88.0 83.8 84.0 83.8 86.4 80.4 82.5 APRIL 87.4 90.8 87.3 87.5 87.4 89.4 84.4 87.0 MAY 89.4 92.2 88 . 9 89.0 89.6 91.7 86.6 88.9 JUNE 91.9 94.7 91.3 91.6 92.1 94.0 89.4 91.1 JULY 93.8 96.3 . 93.3 93.6 94.0 95.2 91.9 93.6 AUGUST 95.6 97.3 96.1 95.0 95.7 96.9 93.7 95.4 SEPTEMBER 96.9 98.7 97.2 97.2 96.8 97.7 94.9 96.9 OCTOBER OR LATER 100.0 100.0 103.0 100.0 100.0 100.0 100.0 100.0 1 9 6 8 JANUARY 1/ 2/ 3/ 3/ " INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . TOTAL D E P O S I T S AS REPORTED I N THE C A L L REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . P R I M E BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE H I G H E S T Q U A L I T Y REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. 3.3 AND WHICH ARE SALES / I / TABLE 3E OF NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT SINCE PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 3 / AS OF 27 SEP 1 9 6 7 PERCENTAGE D I S T R I B U T I O N $ 1 B I L L I O N AND OVER - 1967 22.7 30.1 29.3 27.4 NOVEMBER 8.4 11.2 8.4 DECEMBER 30.7 24.2 8.8 TOTAL PRIME 4 / - OUTSIDE NEW YORK CITY NON-PRIME NEW YORK C I TY 19.6 13.9 21.9 30.0 11.7 7.3 6.0 8.4 9.1 25.1 20.9 35.0 48.1 21 . 9 20.0 5.2 3.2 8.8 lo.l 10.1 11.5 8.8 4.0 2.0 2.4 4.5 4.3 3.9 4.1 5.2 12.6 15.0 18.3 12.9 11.2 9.6 14.2 11.7 APRIL 2.7 2.0 2.8 3.5 2.5 1. 7 4.1 2.5 MAY 0.8 0.4 0.6 0.6 0.9 0.2 1.0 2.4 JUNE 1.9 1.9 1.7 1.1 2.2 1.8 3.4 1.6 JULY 1.0 0.3 0.8 0.7 1.2 0.3 2.9 1.2 AUGUST 1.0 1.2 0.4 1.2 1.1 0.9 1.6 0.8 SEPTEMBER OR LATER 5.4 6.6 6.9 6.7 4.6 3. 5 5.0 6.7 100.0 100.0 100.0 130.0 100.0 100.0 100.0 SEP TOTAL 28-30 OCTOBER 1 9 6 8 JANUARY FEBRUARY MARCH TOTAL * I u r y n n a ktn i i y • l r 0 . 0 v n v AND D I V I D E N D M A T U R I T I E S ) DECEMBER 10 XXX XXX DECEMBER 15 XXX XXX NUMBER OF BANKS) (MEMORANDUM: 266 1/ 2/ 3/ 4/ * MILLION TO $1 B I L L I O N MILLION TO $500 M I L L I O N IN $200 S5N3 $200 MILLION AND UNDER CD1 S MATURING 95 84 50 37 12 SEE TECHNICAL APPENDIX A . INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $100 / N O OR MCRE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF FACH OTHER W I T H I N THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. 18 TABLE 4 A AVERAGE MATURITY % OF OUTSTANDING NEGOTIABLE TIME AT WEEKLY CERTIFICATES OF DEPOSIT 1/ REPORTING BANKS AT VARIOUS SURVEY DATES (IN MONTHS t DATE OF SURVEY BANK C L A S S I F I C A T I O N 27 SEP 1 9 6 7 30 26 JUL AUG 1 9 6 7 1967 (BY L O C A T I O N ) A L L REPORTING BANKS 3.4 3.6 3.2 3.3 • | I1 NEW YORK C I T Y i ! 1 3.5 ISSUING C D ' S CHICAGO 3.7 3.8 4.1 OTHER 3.6 3.6 ?.7 I BY S I Z E OF BANKS 2/ UNDER $ 2 0 0 K I L L ! O N 3.0 3.0 3.2 $200-$500 3.4 3.4 3.4 $50C-$W0CQ MILLION 3.5 3.5 3.6 OVER $ 1 B I L L I O N 3.5 3.5 3.6 3.2 3.2 3.3 3.9 3.8 4.2 3.5 3.6 3.5 PRIME MILLION I N NEW YORK C I T Y 3 / PRIME OUTSIDE NEW YORK C I 3/ NON-PRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ART REGARDED AS BEING OF THF HIGHEST Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. I N DENOMINATIONS OF DEPOSITS AS REPORTED $100,000 CR MORE ISSUED BY WEEKLY REPORTING BANKS. I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1965. TABLE 48 AVERAGE MATURITY OF NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS 1-IN MONTHS) BANK C L A S S I F I C A T I O N • 27 SEP 1 9 6 7 DATE OF SURVEY — 30 AUG 1 9 6 7 26 JUL 1967 I BY L O C A T I O N I ALL REPORTING BANKS ISSUING CD'S 3.5 3.5 3.5 MEW YORK C I T Y 3.4 3.7 3.1 CHICAGO 4.0 3.7 4.3 OTHER 3.5 3.4 3.7 tBY S I Z E a F BANK ) 2 / UNDER $ 2 0 0 M I L L I O N 3.3 3.0 3.8 * 2 0 0 - 1 5 0 0 MILLION 3.5 3.8 3.5 $ 5 0 0 - $ 1 , 0 0 0 MILLION 3.5 3.5 3.8 OVER $ 1 B I L L I O N 3.5 3.5 3.5 PRIME I N NEW YORK C I T Y 3 / *.3 3.7 3.1 PRIME OUTSIDE 3.9 3.4 3.9 3.5 3.6 3.6 NEW YORK C I T Y 3 / NON-PRIME 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 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEIN G 3F THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. DEPOSITS AS REPORTED I N NOTE—SEE TECHNICAL APPENDIX B . OR MORE ISSUED BY WEEKLY REPORTING BANKS. THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 1965. TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY TOTAL DEPOSITS 2 / C I N M I L L I O N S OF DOLLARS) 27 SEP 1 9 6 7 AUG 1 9 6 7 26 JUL 1967 10.0 10.6 10.0 UNDER 2 0 0 5.8 5.9 5.8 200 - 500 7.8 8.1 7.7 500 - 1000 8.7 8.8 8.1 11.3 12.3 11.5 14.0 15.4 14.5 CO ALL BANKS ISSUING CD'S 30 9.8 9.1 11.3 11.7 11.0 OVER 1 0 0 0 PRIME I N NEW YORK 3 / PRIME OUTSIDE NEW YORK 3 / NONPRIME 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 3 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 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 W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- DEPOSITS I N THE DENOMINATOR OF THE RATIO INTERBANK AND U . S . GOVERNMENT D E P O S I T S . OR MORE ISSUED BY WEEKLY REPORTING BANKS. I N T H I S TABLE ARE TOTAL 1965. DEMAND AND TIME D E P O S I T S , INCLUDING TABLE 5B RATIO OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT 1Z TO TOTAL DEPOSITS AS CF 27 SEP 1967 (NUMBER OF BANKS) TOTAL DEPOSITS 2 / ( IN M I L L I O N S ALL OF DOLLARS) BANKS I S S U I N G CD'S 53 OR LESS 5 TO 10% 15 TO 20% 10 TO 15% 20 TO 25% 2 5% OR MORE AVERAGE CD TO DEPOSIT RATIO (PER CENT) 112 62 59 24 4 4 „ 10.0 UNDER 2 0 0 55 21 12 6 0 0 5.9 200 - 500 35 22 17 7 1 2 7. 8 500 - 1000 17 10 16 5 0 2 8.7 5 9 14 6 3 0 11.3 0 0 4 2 I 0 14.0 3 4 2 2 1 0 8.9 2 5 8 2 1 0 11.3 OVER 1 0 0 0 PRIME I N NEW YORK 3 / PRIME OUTSIDE NONPRIME NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF S 1 0 0 , 0 0 3 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT CF CONDITION ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO INTERBANK AND U . S . GOVERNMENT DEPOSITS. OR MORE ISSUED BY WEEKLY REPORTING BANKS. I N T H I S TABLE 1965. ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING 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 30 AUG 1 9 6 7 TO 27 /I SEP 1967 (NUMBER OF BANKS) DECLINES TOTAL DEPOSITS 2 / REDUCED C D ' S TO ZERO ( IN M I L L I O N S OF DOLLARS) ALL BANKS I S S U I N G CD'S 10% OR MORE OF 5 TO 10% INCREASES OF 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10% OR MORE 50 35 63 23 52 18 28 ISSUED C D ' S BUT HAD NONE OUTSTANDING ON BASE DATE UNDER 200 1 16 7 23 12 17 5 16 0 200 - 500 0 17 15 18 10 16 4 6 0 500 - 1000 0 11 3 12 1 12 6 5 0 0 6 10 10 0 7 3 I 0 0 2 3 1 n 0 1 0 n PRIME OUTSIDE NEW YORK 3 / 0 2 4 3 0 3 0 0 n NONPRIME 0 2 3 6 0 4 2 1 0 OVER 1000 PRIME I N NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- I N DENOMINATIONS OF $100 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965. THE NUMBER OF BANKS I N T H I S TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING C D ' S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. TABLE 5 0 PER CENT CHANGE I N OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E OF DEPOSIT 28 JUN 1 9 6 7 TO 27 SEP /I 1967 (NUMBER OF BANKS) TOTAL DEPOSITS / 2 (IN ALL M I L L I O N S OF DOLLARS) BANKS CD'S REDUCED C D ' S 25% TO OR ZERO MORE INCREASE OF DECLINES OF 20 TO 25% 10 TO 15% 15 TO 20% 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 T3 10% 15% 25% OR MORE 20 TO 25% 15 TO 20% 10 TO ISSUED C D ' S BUT HAD NONE OUTSTANDING ON BASE DATE ISSUING 1 21 5 14 23 17 40 12 21 35 18 8 11 43 1 UNDER 2 0 0 1 10 3 4 6 3 13 7 9 15 4 1 5 16 0 200 - 500 0 6 0 9 8 7 13 4 5 9 3 5 4 12 1 500 - 1000 0 5 2 0 4 4 7 1 2 4 8 2 1 10 0 0 0 0 1 5 3 7 C 5 7 3 0 1 5 0 0 0 0 0 2 0 2 0 1 1 1 0 0 0 0 PRIME O U T S I D E NEW YORK 3 / 0 0 0 1 2 1 1 0 1 3 2 0 0 1 0 NONPRIM E 0 C 0 0 1 2 4 0 3 3 0 0 1 4 0 OVER 1000 PRIME I N NEW YORK 3/ I N DENOMINATIONS OF S10Q , 0 0 9 OR MORE ISSUED BY WEEKLY REPORTING BANKS . 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS AS REPORTED I N 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS IBEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET# NOTE- THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 1965 • THE NUMBER OF BANKS• I N T H I S TABLE DIFFERS FROM THOSE I N MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING C D ' S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO, TABLE CHANGE 5E I N OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OVER THE MONTH AS A PER CENT OF TOTAL 1/ DEPOSITS AT THE BEGINNING OF THE PERIOD 3 0 AUG 1 9 6 7 TO 27 SEP 1 9 6 7 I NUMBER OF BANKS) TOTAL DEPOSITS 2 / OF DOLLARS) ALL BANKS CD'S ISSUING DECLINES OF 3% AND OVER 1 TO 2 TO 3% INCREASES OF 1% ANO LESS 2% NO CHANGE 1% AND LESS 1 TO ?% 3% AND OVER 2 TO 3% 1 5 28 118 19 74 13 6 2 UNDER 2 0 0 0 3 4 41 10 29 6 0 2 200 - 500 1 0 12 39 8 17 4 3 0 500 - 1000 0 0 4 22 1 18 3 2 0 0 2 8 16 0 10 0 1 0 0 1 4 1 0 1 0 0 0 PRIME OUTSIDE NEW YORK 3 / 0 1 . 1 7 0 3 0 0 0 NONPRIME 0 0 3 8 0 6 0 1 0 OVER 1000 PRIME IN NEW YORK 3 / If INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF S 1 0 0 , 0 0 0 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965. DEPOSITS I N THE DENOMINATOR OF THE R A T I O I N T H I S TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INTERBANK AND U . S . GOVERNMENT D E P O S I T S . INCLUDING TABLE 5F CHANGE I N OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEP3SIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 28 JUN 1 9 6 7 TO 27 SEP 1967 (NUMBER OF BANKS) TOTAL ( I N MILLIONS ALL BANKS CD'S OF DOLLARS) ISSUING INCREASES OF DECLINES OF DEPOSITS 2 / 5% AND OVER 1% AND LESS 1 TO 2% 2 TO 3% 3 TO 4% 4 TO 5% NO CHANGE 1% AND UNDER 5% AND OVER 4 TO 5% 3 TO 4% 2 TO 3% I TO 2% 0 0 1 12 27 81 8 66 35 17 8 3 7 UNDER 200 0 0 1 4 12 23 5 33 7 5 3 0 2 200 - 500 0 0 0 5 7 31 2 15 11 7 2 2 1 500 - 1000 0 0 0 1 5 16 1 9 10 4 1 1 2 0 0 0 2 3 11 0 9 7 1 2 0 2 0 0 n 2 0 2 0 1 2 0 0 0 C PRIME OUTSIDE NEW YORK 3 / 0 0 0 o 2 3 0 2 4 0 1 0 0 NONPRIME 0 0 0 0 I 6 0 6 1 1 1 f> 2 OVER 1 0 0 0 PRIME IN NEW YORK 3 / . 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , ,z NOTE- I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 c OR MORE ISSUED BY WEEKLY REPORTING BANKS• 1965. ,!TR;!;,rLr20LMsF0ii:H"^i,"c0HEs,,„i/s:^,™%;"^c=HN-»-as;i;ET,T.,Nn DEPOSITS IN THE DENOMINATOR OF THE RATIO INTERBANK AND U . S . GOVERNMENT O E P O S I T S . I N T H I S TABLE ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING TABLE 6A MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T 1/ AS OF 27 SEP 1 9 6 7 (AMOUNTS I N M I L L I O N S ALL DISTRICTS BOSTON 607.9 51.1 OCT 4520.0 NOV C D ' S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 234.2 23.9 24.3 13.6 368.2 1752.6 131.8 276. 1 2662. 8 171.8 1076.3 94.0 DEC 3942.3 185.9 1982.3 1 9 6 8 JAN 2433.7 106.6 FEB 1276.3 MAR NEW YORK CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS FRANCISCO 13.9 75.6 7.8 2.5 15.0 45.4 100.6 83. 1 126.1 538 .5 72.5 64. 6 118. 1 339.6 648 . 8 166.7 49.4 85.8 328.6 53.7 37.1 68.7 139.9 390.8 93.8 221.0 68.4 72.2 417.3 63.3 47.5 68.5 194.6 527.5 1032.4 39.8 161.6 40.3 53.8 351.5 47.1 46.6 34.9 178.9 340.2 57.9 424.4 32.4 95.0 26.4 40.9 228.0 42.9 17.0 19.4 73.3 218.7 1241.5 49.1 455.3 40.5 100.3 36.1 50.9 177.3 29.8 16.1 30.6 83.6 171 .9 APR 711.1 39.3 273.2 26.1 78.5 6.1 12.2 102.4 7.8 11.5 17.5 37.8 98.7 MAY 398.7 14.5 184.3 10.2 26.4 2.9 8.8 61.1 7.4 1.6 6.1 17.3 58.1 JUN 492.7 44.1 185.4 24.0 34.0 5.1 16.3 74.9 5.6 3.0 12.4 21.7 66.2 JUL 374.1 13.1 112.7 10.4 35.2 1.3 13.3 65.0 3.5 1.3 8.2 40.3 69.8 AUG 359.4 11.5 132.6 11.9 57.6 0.8 8.3 47.5 5.9 2.3 2.5 16.8 61.7 SEP 255.9 15.2 94.6 10.1 26.2 13.1 3.7 37.0 7.0 4.0 2.4 12.7 29.9 OCT OR LATER 622.4 41.9 170.0 40.2 189.6 8.5 27.9 55.3 3.5 0.5 1.0 36.4 47.6 19898.8 1170.2 8110.3 589.1 1492.5 355.1 534.1 2560.0 357.8 255.6 405.3 1238.3 2830.5 AVERAGE MATURITY I N MONTHS 2 / 3.4 3.0 3.2 3.9 4.8 3.2 3.6 3.6 3. 3 2.9 2.8 3.3 3.3 NUMBER OF REPORTING BANKS 266 18 48 11 18 17 22 35 9 5 21 26 36 1967 SEP 2 8 - S E P 30 1/ INCLUDES ONLY C E R T I F I C A T E S 2/ SEE TECHNICAL APPENDIX B • • OF DOLLARS) ISSUED I N DENOMINATIONS OF $ 1 * 0 , 0 0 0 DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. OR MORE BY WEEKLY REPORTING BANKS. TABLE 6 8 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T AS OF 2 7 SEP 1 9 6 7 (AMOUNTS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS C I TY DALLAS SAN FRANCISCO 80.4 19.7 10.9 31 . 8 135.0 130 . 2 13.3 46.8 12.4 1.7 8.8 11.1 55.5 16.7 27.0 99.6 9.7 10.5 24.3 67.3 117.6 29.2 3.6 3.1 25.1 6.5 6.9 2.9 16. 5 60.8 5.0 8.0 0.6 2.0 16.1 6.5 4.7 0.5 2.7 35.8 173.4 8.9 50.1 22.9 20.2 53.5 14.4 m.5 21.7 38.3 13.6 34.1 5.7 14.6 1.1 0.1 7.1 2.6 5.4 0. 7 4.8 17.3 30.9 2.3 9.2 2.1 4.2 0.7 0.1 2.8 1.7 0.0 1.4 1.9 4.5 J UN 76.6 5.6 35.3 2.8 14.3 1.4 0.5 5.7 0.3 0.2 4.0 1.6 4.9 JUL 40.9 3.0 7.3 1.6 8.5 0.7 0 .8 12.7 0.0 0.0 o.O 2.2 4.1 AUG 41.0 2.5 14.4 2.6 0.5 0.2 1 .0 8.8 0.5 0.1 1.1 0.3 9.0 214.6 9.1 76.2 13.6 22.7 13. 2 9.5 24.1 8.5 2.9 2.4 12.3 20.1 3992.7 253.2 1719.8 115.0 267.1 84.9 108.3 382 . 7 82.8 53.8 99.6 2 94.0 531.5 3.5 3.0 3.4 4.2 4.4 4.6 3.4 3.8 3.9 3.9 3.2 2.6 3.4 ALL DISTRICTS BOSTON 1 9 6 7 OCT 905.8 90.7 NOV 336.7 DEC C D ' S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 275.1 23.6 62.8 14.9 30.7 20.9 130.7 13.9 12.7 8.9 1226.8 60.7 724.7 29.2 39.5 1 9 6 8 JAN 351.4 22.9 167.9 6.0 FEB 158.7 5.3 71.5 MAR 502.2 16.6 APR 107.1 MAY SEP OR LATER TOTAL * AVERAGE MATURITY I N MONTHS 3 / 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY C E R T I F I C A T E S 3/ SEE TECHNICAL APPENDIX B . • I N MILLIONS NEW YORK ISSUED I N DENOMINATIONS OF $ 1 0 0 , 3 0 0 DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. CHICAGO OR MORE BY WEEKLY REPORTING BANKS. 71.7 ' TABLE 6C MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T CERTIFICATES OF DEPOSIT 1/ AS OF 2 7 SEP 1 9 6 7 (PERCENTAGE D I S T R I B U T I O N ) ALL DISTRICTS C D ' S MATURING IN BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHATLANTA MOND CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 3.1 4.4 2.9 4.1 1.6 3.8 2.6 3.0 2.2 1.0 3. 7 3.7 3.6 OCT 22.7 31.5 21.6 22.4 18.5 23.4 23.6 21.0 20.3 25.3 2 9.1 27.4 22.9 NOV 13.4 14.7 13.3 16. 0 11.2 13.9 16.1 12.8 15.0 14.5 17.0 11.3 13 . 8 DEC 19.8 15.9 24.4 15.9 14.8 19.3 13.5 16.3 17.7 18.6 16.9 15.7 18.6 1 9 6 8 JAN 12.2 9.1 12.7 6.8 10.8 11.3 10.1 13.7 13.2 18.2 8.6 14.4 12.0 FEB 6.4 4.9 5.2 5.5 6.4 7.4 7.7 8.9 12.0 6.7 4.8 5.9 7.7 MAR 6.2 4.2 5.6 6.9 6.7 10.2 9.5 6.9 8.3 6.3 7.5 6.8 6.1 APR 3.6 3.4 3.4 4.4 5.3 1.7 2.3 4.0 2.2 4.5 4.3 3.1 3 .5 MAY 2.0 1.2 2.3 1.7 1.8 0.8 1.6 2.4 2.1 0.6 1.5 1.4 2.1 JUN 2.5 3.8 2.3 4.1 2.3 1.4 3.1 2.9 1.6 1.2 3.1 1.8 2.3 JUL 1.9 1.1 1.4 1.8 2.4 0.4 2.5 2.5 1.0 0.5 2.0 3.3 2.5 AUG 1.8 1.0 1.6 2.0 3.9 0.2 1.6 1.9 1.6 0.9 0.6 1 .4 2.2 SEP 1.3 1.3 1.2 1.7 1.8 3.7 0.7 1.4 2.0 1.6 0.6 1.0 1.1 OCT OR LATER 3.1 3.6 2.1 6 .8 12.7 2.4 5.2 2.2 1.0 0.2 0.2 2.9 1.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1967 SEP 2 8 - SEP TOTAL * 1/ 30 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 60 MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T CERTIFICATES OF DEPOSIT 1/ AS OF 2 7 SEP 1 9 6 7 (CUMULATIVE PERCENTAGE) ST. LOUIS MINNEAPOLIS KANSAS C I TY DALLAS SAN FRANCISCO 3.0 2.2 1.0 3.7 3.7 3.6 26.2 24.0 22.5 26.3 32.8 31.1 26.5 41.1 42.3 36.8 37.5 40.fi 49. 8 42.4 40.3 46. 1 60.4 55.8 53.1 55.2 59.4 66.7 58.1 58.9 65.2 56.9 71.7 65.9 66.8 68.4 77.6 75.3 72.5 70.9 80.1 70.7 63.3 79.1 73.6 75.7 80.4 84.3 80. 1 78.4 78.6 84.7 85.7 77.6 70.0 89.3 83.1 82.6 88.7 90.6 87.6 85.2 84.7 87.4 88.1 89.1 82.0 75.3 91.0 85.4 86.6 90.9 95.1 91.9 88.3 88.2 MAY 89.4 89.3 91.4 83.7 77.1 91.8 87.0 89.0 93.0 95. 7 93.4 89.7 90.3 JUN 91.9 93.1 93.7 87.8 79.4 93.2 90.1 91.9 94.6 96.9 96.5 91.5 92.6 JUL 93. 8 94.2 95.1 89.6 81.8 93.6 92.6 94.4 95.6 97.4 98. 5 94. 8 95.1 AUG 95.6 95.2 96.7 91.6 85.7 93.8 94.2 96.3 97.2 98.3 99. 1 96.2 97.3 SEP 96.9 96.5 97.9 93.3 87.5 97.5 94.9 97.7 99.2 99.9 99.7 97.2 98.4 100.0 100.0 100.0 100,0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL DISTRICTS BOSTON 3.1 4.4 OCT 25.8 NOV C D ' S MATURING IN PHILADELPHIA CLEVELAND RICHMOND ATLANTA 2.9 4.1 1.6 3.8 2 .6 35.9 24.5 26.5 2H.1 27.2 39.2 50.6 37.8 42.5 31.3 DEC 59.0 66.5 62.2 58.4 1 9 6 8 JAN 71.2 75.6 74.9 FEB 77.6 80.5 MAR 83.8 APR 1 9 6 7 SEP 2 8 - S E P 30 OCT OR LATER 1/ INCLUDES ONLY C E R T I F I C A T E S NEW YORK ISSUED I N DENOMINATIONS OF $ 1 0 0 f 0 0 0 CHICAGO OR MORE BY WEEKLY REPORTING BANKS. TABLE 6E 1/ 2/ SALES OF 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 27 SEP 1 9 6 7 (PERCENTAGE D I S T R I B U T I O N ) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 21.0 23.8 20.3 31.9 45.9 24.5 12.3 12.2 15.0 3.2 8.8 3.8 10.4 19.7 24.9 26.0 11.7 19.5 24.4 22.9 22.1 10.9 4.2 2.9 6.6 7.9 12.8 2.9 5.6 11.4 4.3 3.0 0.7 1.8 4.2 7.9 8.7 0.5 0.9 6.7 10.1 7.7 18.8 27.0 18.7 14.0 17.4 19.5 21.8 13.0 5.4 2.0 5.0 5.5 1.3 0.1 1.9 3.1 10.0 0.7 1.6 3.3 0.8 0.9 0.5 1 .8 1.6 0.8 0.1 0.7 2. 1 0.0 1.4 0.6 0.8 J UN 1.9 2.2 2.1 2.4 5.4 1.6 0.5 1.5 0.4 0.4 4.0 0.5 0.9 JUL 1.0 1.2 0.4 1.4 3.2 0.8 0.7 3.3 0.0 0.0 0.0 0.7 0.8 AUG 1.0 1.0 0.8 2.3 0.2 0.2 0.9 2.3 0.6 0.2 1.1 0.1 1.7 SEP OR LATER 5.4 3.6 4.4 11.8 8.5 15.5 8.8 6.3 10.3 5.4 2.4 4.2 3.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.o 100.0 100.0 100.0 ALL DISTRICTS BOSTON 1 9 6 7 OCT 22.7 35.8 NOV 8.4 DEC C D ' S MATURING IN CLEVELAND 16.0 20.5 23.5 17.6 28.3 8.3 7.6 12.1 4.8 10.5 30.7 24.0 42.1 25.4 14.8 1 9 6 8 JAN 8.8 9.0 9.8 5.2 FEB 4.0 2.1 4.2 MAR 12.6 6.6 APR 2.7 MAY TOTAL * 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY C E R T I F I C A T E S NOTE * RICHMOND ATLANTA PHILADELPHIA SALES IN T H I S NEW YORK ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. TABLE ARE NOT ADJUSTED FOR C D ' S THAT HAVE MATJ RED. D E T A I L S MAY NOT A&D TO TOTALS DUE TO ROUNDING. CHICAGO 13.5' TECHNICAL APPENDIX A DERVIATION 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 on outstandings quantity for a time period comparable 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 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 comparability 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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