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October 31, 1969. L.4.1 CONFIDENTIAL (FR) iOV 5 R e s e a r c h Lil>*sry SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF September 24, 1969 NOTE: Sales since the previous survey and comparisons with previous data reflect revisions in the August report whereby $6.5 million in outstanding negotiable CD's have been eliminated from the series. 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 WEEKLY REPORTING BANKS AS OF 2 4 SEP 1969 AMOUNT (MILLIONS GF DOLLARS) CD'S MATURING IN 1969 SEPTEMBER 25 - 30 PERCENTAGE DISTRIBUTION CUMULATIVE PERCEN TAGE SALES SINCE PREVIOUS MONTH 2 / ( M I L L I O N S OF DOLLARS) 694.8 5.9 5.9 .0 OCTOBER 2,729.1 23.2 29.1 584.0 NOVEMBER 1,709.4 14.6 43.7 174.3 DECEMBER 1,931.5 16.5 60.2 403.2 1,461.2 12.4 72.6 50.9 FEBRUARY 777.9 6.6 79.2 60.8 MARCH 650.3 5.5 84.7 362.1 APR I L 369.6 3.1 87.8 13.9 MAY 245.7 2.1 89.9 36.5 JUNE 212.4 1.8 91.7 8.0 JULY 270.8 2.3 94.0 4.9 AUGUST 128.1 1.1 95.1 18.8 SEPTEMBER 161.9 1.4 96.5 OVER 12 MONTHS 396.0 3.4 100.0 XXX 11,738.6 100.0 XXX 1,930.1 1970 JANUARY TOTAL I MEMORANDUM: DECEMBER 10 DECEMBER 15 76.5 252.2 212.8 3/ TAX AND DIVIDEND MATURITIES) .7 2.1 XXX XXX 1/ INCLUDES ONLY CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. ?/ SEE TECHNICAL APPENDIX A . 3/ SALES OF C D ' S MATURING AFTER 11 MONTHS. TABLE 2 A 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , CHICAGO. AND ALL OTHER WEEKLY REPORTING BANKS AS OF 24 SEP 1969 ( I N MILLIONS OF DOLLARS I NEW YORK C I T Y 1 CD S MATURING IN 1969 SFP 25 - AMOUNT SEP 3G CHICAGO SALES SINCE PREVIOUS MONTH 2 / - AMOUNT ALL OTHER WEEKLY REPORTING BANKS SALES SINCE PREVIOUS MONTH 2 / - AMOUNT SALES SINCE PREVIOUS MONTH 2 / 104.6 .0 44.9 .0 545.3 .0 OCTOBER 476.4 131.7 120.8 17.3 21131 .9 435.0 NOVEMBER 279.1 20.4 91.3 7.3 1,340.0 146.6 DECEMBER 339.3 75.1 82.1 29.8 1,510.1 298.3 191.4 3.5 78.9 10.5 1,190.9 36.9 105.5 5.9 45.0 3.0 627.4 51.9 MARCH 90.9 42.9 38.6 9.5 520.8 309.7 APRIL 91.9 1.1 16.1 .0 261.6 12.8 MAY 72.6 25.2 13.2 .0 159 .9 11.3 JUNE 36.2 .5 26.7 .0 149 . 5 7.5 JULY 61.1 3.0 36. 1 .0 173.6 1.9 AUGUST 38.5 lO.l 4.3 .4 85.3 8.3 SEPTEMBER 50.9 7 2 . 4 Z3 18.8 29.9 / 3 92.2 110.5 OVER 12 MONTHS 58.3 XXX 18.6 XXX 318.6 XXX I t 996.2 391.8 635.4 107.7 9,107 .0 1 ,4 30 »6 1970 JANUARY FEBRUARY TOTAL * NUMBER OF REPORTING BANKS 12 11 IKEMOFANOUM: DECEMBER DECEMBER 10 15 5.0 66.5 1/ INCLUDES ONLY CERTIFICATES IN OENCM NATI ON OF SlOO , 0 0 0 ?/ SEF TECHNICAL APPENDIX A . 3 / SALES OF CD'S MATURING AFTER 11 MONTHS. http://fraser.stlouisfed.org/ * TOTALS M Y NOT ADD QUE TO ROUNDING. Federal Reserve Bank of St. Louis /3 2 40 TAX AND DIVIDEND MATURITIES) 4.8 11.6 CR MORE ISSUED BY WEEKLY REPORTING BANKS. 66,7 174.1 • TABLE 28 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 24 SEP 1969 AND 27 AUG 1969 (PERCENTAGE DISTRIBUTION) !Sfl 1 U K 1 m y 1 IN 24 SEP 27 AUG 24 SEP 27 AUG 24 SEP 27 AUG 5.2 4.4 7.1 2.2 6.0 2.5 0 1 MONTHS 3 / 23.9 27.1 19.0 30.9 23.4 23.9 02 MONTHS 13.9 15.8 14.4 14.4 14.7 17.5 03 MONTHS 17.0 11.8 12.9 11.6 16.6 12.3 0 4 MONTHS 9.6 12.1 12.4 7.3 13. 1 12.5 05 MONTHS 5.3 8.6 7,1 9.5 6.9 11.9 36 MONTHS 4.6 4.6 6.1 5.8 5.7 5. 9 07 MONTHS 4.6 2.2 2.5 4.0 2.9 2.2 08 MONTHS 3.6 4.1 2.1 2.2 1.8 2.6 09 MONTHS 1.8 2.2 4.2 1.8 1.6 1.5 10 MONTHS 3.1 1.6 5.7 3.7 1.9 1.5 11 MONTHS 1.9 2.7 .7 5.0 .9 1.8 12 MONTHS 2.5 1.3 3.0 .5 1.0 .8 2.9 1.7 2.9 1.0 3.5 3.1 100.0 100.0 100.0 100.0 100.0 100. 0 0 - 6 DAYS 2 / OVER 12 MONTHS TOTAL * 1/ ALL OTHER CHICAGO NEW YORK CITY L U ' b INCLUDE S ONLY CERTIFICATES I N DENCMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ NUMBER OF DAYS REMAINING I N SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ * DUMBER CF MONTHS FOLLOWING THE SURVEY MONTH. TOTALS MAY NOT ADO DUE TO ROUNDING. TABLE 2C 1/ MATURITY OISTRIB'JTT ON OF OUTSTANDING NEGOTI ABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 24 SEP 1969 AND 27 AUG 1969 (CUMULATIVE DISTRIBUTION) NEW YORK CITY ALL OTHER CHICAGO C D ' S MATURING I N 0 - 6 DAYS 2 / 27 AUG 24 SEP 27 AUG 24 SEP 27 AUG 5,2 4.4 7.1 2.2 6.0 2.5 0 1 MONTHS 3 / 29. 1 31.5 26.1 33. 1 29.4 26.4 02 MONTH S 43.0 47.3 40.5 47.5 44.1 43.9 03 MONTHS 60.0 59.1 53.4 59.1 60.7 56.2 04 MONTHS 69.6 71.2 65.8 66.4 73.8 68.7 05 MONTHS 74.9 79.8 72.9 75.9 80.7 80.6 06 MONTHS 79.5 84.4 79.0 81.7 86.4 86.5 07 MONTHS 84.1 86.6 81.5 85.7 89.3 88.7 08 MONTHS 87.7 90.7 83.6 87.9 91.1 91.3 09 MONTHS 89.5 92.9 87.8 89.7 92.7 92.8 10 MONTHS 92.6 94.5 93.5 93.4 94.6 94.3 11 MONTHS 94.5 97.2 94.2 98.4 95.5 96.1 12 MONTHS 97.0 98.5 97.2 98.9 96.5 96.9 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 MONTHS 1/ 24 SEP INCLUDES ONLY CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING tiANKS. 2 / NUMBER OF DAYS REMAINING I N SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MC NTH S FOLLOWING THE SURVEY MONTH. T A SI F 5 A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 24 SEP 1969 IAMOUNTS I N MILLIONS OF DOLLARS 1 $1 B I L L I O N AND OVER - CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION PRIME 3 / - — TOTAL - — NON-PRIME NEW YORK CITY OUTSIDE NEW YORK CITY 6 94. 8 62.2 144.0 138.1 350.5 100.2 149.2 101.1 OCTOBER 2,729.9 248.0 486.8 562.3 1,431.8 436.4 594.9 400.5 NCVFMRER 1,709.3 159.6 365.4 317.2 867.1 259.2 333.9 274.0 DECEMBER 1,931.4 165.2 347.3 387.0 1,031.9 301.6 392.0 338.3 1,461.0 137.0 244.3 324.2 755.5 177.4 318.5 259.6 FEBRUARY 777.9 61.7 170.9 152.2 393.1 91.2 192.6 109.3 MARCH 650. 1 73.7 104.6 152.9 318.9 73.5 138.1 107.3 APRIL 369. 6 22.7 52.4 81.3 213.2 80.3 81.2 51.7 MAY 245. 7 17.9 33.1 44.8 149.9 71.0 55.6 23.3 JUNE 212.4 13.7 37.9 34.0 126.8 30.1 61.7 35.0 JULY 2 70.6 12.5 21.7 53.0 183.4 51.8 80.0 51.6 AUGUST 128.0 7.4 18.2 12.4 90.0 33.9 39.1 17.0 SEPTEMBER 161. 8 4.0 19.4 25.0 113.4 39.8 52.3 21.3 OCTOBER OR LATER 395.9 8.8 27.8 65.8 293.5 54.4 184.7 54.4 11,737.4 994.4 2,073.8 2, 3 5 0 . 2 6,319.0 1,800.8 2,673.8 1,844.4 1969 SEP 2 5-30 19TC JANUARY TOTAL * TAX AND DIVIDEND MATUR j 1C 76. 5 13.4 15.3 17.1 30.7 5.0 17.1 8.6 DECEMBER 15 252.3 16.6 32.9 47.6 155.2 60.4 54.3 40.5 37 7 12 18 DECEMBER Ml n l UIM n RFtt uLr\ 1n c r u r hiitw n * 263 1/ 92 INCLUDES CERTIFICATES IN DENOMINATIONS OF $ 1 0 0 , 0 0 0 85 n u F r RANK 1 dmwvno # 49 CR MORE ISSUED BY WEEKLY REPORTING BANKS. V, % % BACKS'ARF^THOSF^WHO SE' NEGHTI ABLE ^ ^ I M ^ T ^ ^ l ^ O ^ T ^ ^ ^ I ^ A ^ D E D ' H ^ E I N G 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. * TOTALS MAY NOT ADO OUF TO ROUNDING. TABLE 3b $1 CD* S MAT'JR ING IN SEP $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION ANO PRIME TOTAL OVER 4/ OUTSIDE NEW Y O R K CITY NON-PRIME NEW Y O R K C I TY •30 OCTOBER 583.9 62.9 NOVEMBER 174.3 20.0 DECEMBER 403.2 JANUARY FEBRUARY 120.1 312.0 126.6 92.9 92.5 28.6 31.7 94.0 19.5 44.2 30.3 42.0 80.1 61.5 219.6 69.1 80.8 69.7 50.8 7.2 3.1 8.5 32.0 3.4 24.1 4.5 60. 8 1Q.2 15.1 11.0 24.5 5.2 13.7 5.6 362.1 52.8 61.9 96.3 151.1 36.2 54.7 60.2 APRIL 13.9 2.0 3.5 3.2 5.2 1.1 1.4 2.7 MAY 36.6 3.9 2.2 1.7 28.8 25.0 2.5 1.3 JUNE 8.2 0.8 0.7 1.7 5.0 0.5 3.0 1.5 JULY 4.8 0.2 0.4- 0.2- 5.2 0.0 0.9 4.3 18.7 1.6 3.3 1.9 11.9 10.1 0.6 1.2 212.5 8.2 17.6 25.3 161.4 63.0 66.5 31.9 1,929.8 211.8 304.6 362.7 1,050.7 359.7 385.3 305.7 12 18 MARCH AUGUST SEPTEMBER OR LATER TOTAL * 00 00 1969 TOTAL BILLION CMEMORANDUM: DECEMBER 10 DECEMBER 15 TAX AND DIVIDEND MATURITIES) MEMORANDUM: 263 92 NUMBER 85 OF BANK S I 49 37 1 / SEE TECHNICAL APPENDIX A , 2/ INCLUDES CERTIFICATES I N DEKOMIKATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 3 / TCTAL DEPOSITS AS REPORTED I N THE CALL REPORT CF CONDITION ON DECEMBER 3 1 , 1 9 6 5 . 4 / PR I w E BANKS APE 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 PFPQRTFO 9Y DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. * for TOTALS Digitized FRASER * A Y NOT A 0 0 DUE TO ROUND I NG. T t-SLF 3C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 24 SEP 1969 PERCENTAGE DISTRIBUTION $1 B I L L I O N ANDi OVER - STUPING IN TOTAL $2 00 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION - PRI ME 3 / — TOTAL - ? SEP 2 5-30 — — — — — NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 5.9 6.3 6.9 5.9 5.5 5.6 5.6 5.5 OCTOBER 23.2 24.9 23.5 23.9 22.7 24.2 22.2 21.7 NOVEMBER 14.6 16.0 17.6 13.5 13.7 14.4 12.5 14.9 DECEMBER 16.5 16.6 16.7 16.5 16.3 16.7 14.7 18.3 12.4 13.8 11.8 13.8 12.0 9.9 11.9 14.1 FEBRUARY 6.6 6.2 8.2 6.5 6.2 5.1 7.2 5.9 MARCH 5.5 7.4 5.0 6.5 5.0 4.1 5.2 5.8 APR IL 3.1 2.3 2.5 3.5 3.4 4.5 3.0 2.8 MAY 2.1 1 .8 1.6 1.9 2.4 3.9 2.1 1.3 JUNE 1.8 1 .4 1.8 1.4 2.0 1.7 2.3 1.9 JULY 2.3 1.3 1.0 2.3 2.9 2.9 3.0 2.8 AUGUST 1.1 0.7 0.9 0.5 1.4 1.9 1.5 0.9 SEPTEMBER 1.4 0.4 0.9 1.1 1.8 2.2 2.0 1.2 OCTOBER OR LATER 3.4 0.9 1.3 2.8 4.6 3.0 6.9 2.9 100.0 100.0 100.0 100.0 100.0 100,0 100.0 100.0 » JANUARY TOTAL * (MEMORANDUMS TAX AND DIVIDEND MATURITIES) - DECEMBER 1C C.7 1.3 0.7 0.7 0.5 0.3 0.6 0.5 DECEMBER 15 2.1 1.7 1.6 2.0 2.5 3.4 2.0 2.2 1/ INCLUDES CERTIFICATES I IN QENQPINATI CNS OF $ 1 0 0 , 0 0 0 CR MORE ISSUED BY WEEKLY REPORTING BANKS. ?/ T n TAL OFPQSITS AS REPORTED I N THE CALL REPCPT CF CONDITION ON CECEMBER 3 1 , 1 9 6 5 . ? / Prt I « F BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE kFPGRTEO 5Y DEALERS TO TRADE WITHIN 1 OR 2 RASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. * T ' T A L S MAY N:3T ADD DUE TO ROUNDING. TABLE 30 MATURITY 01 STRIBUTIOK OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 24 SEP 1969 CUMULATIVE PERCENTAGE $1 B I L L I O N AND OVER - CD'S MATURING IN TOTAL $200 MILLION ANO UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION - PRIME 3 / TOTAL — 2 5-30 OUTSIDE NEW YORK CITY NON-PRIME 6.3 6.9 5.9 5.5 5.6 5.6 5.5 OCTOBER 29.1 31.2 30.4 29.8 28.2 29.8 27.8 27.2 NOVEMBER 43.7 47.2 48.0 43.3 41.9 44.2 40.3 42.1 DECEMBER 60.2 63.8 64.7 59.8 58.2 60.9 55.0 60.4 72.6 77.6 76.5 73.6 70.2 70.8 66.9 74.5 FEBRUARY 79.2 83.8 84.7 80.1 76.4 75.9 74.1 MARCH 84,7 91.2 89.7 86.6 81.4 80.0 79.3 86.2 APRIL 87.8 93.5 92.2 90.1 84.8 84.5 82.3 89.0 MAY 89.9 95.3 93.8 92.0 87.2 88.4 84.4 90.3 JUNE 91.7 96.7 95.6 93.4 89.2 90.1 86.7 92.2 JULY 94.0 98.0 96.6 95.7 92.1 93.0 89.7 95.0 AUGUST 95.1 98.7 97.5 96.2 93.5 94.9 91.2 95.9 SEPTEMBER 96.5 99.1 98.4 97.3 95.3 97.1 93.2 97.1 OCTOBER OR LATER 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 JANUARY *• o 5,9 CD 1969 SE° NEW YORK C ITY 1/ INCLUDES CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2 / TOTAL DEPOSITS AS REPORTED I N THE CALL REPCRT CF CONDITION ON DECEMBER 31, 1 9 6 5 . 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 CR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TABLE SALES / ! / 3F CF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3 / AS OF 24 SEP 1969 PERCENTAGE DISTRIBUTION $1 B I L L I O N AND OVER 1 CD S MAT1JR ING IN 1969 SEP TOTAL $200 MILLION AND UNDER $200 M I L L I O N TO $500 M I L L I O N $500 MILLION TO S I BILLION PRIME 4 / TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 2 5-30 30.3 29.7 29.2 33.1 29.7 35.2 24.1 30.3 NOVEMBER 9.0 9.4 9.4 8.7 8.9 5.4 11.5 9.9 DECEMBER 2C.9 19.8 26.3 17.0 20.9 19.2 21.0 22.8 2.6 3.4 1.0 2.3 3.0 0.9 6.3 1.5 3.2 4.8 5.0 3.0 2.3 1.4 3.6 1.8 MARCH 18.8 24.9 20.3 26.6 14.4 10.1 14.2 19.7 APR IL 0. 7 0.9 1.1 0.9 0.5 0.3 0.4 0.9 MAY 1.9 1.8 0.7 0.5 2.7 7.0 0.6 0.4 JUNE 0.4 0.4 0.2 0.5 0.5 0.1 0.8 0.5 JULY 0.2 0.1 0.1- 0.1- 0.5 0.0 0.2 1.4 AUGUST 1.0 0.8 1.1 0.5 1.1 2.8 0.2 0.4 11.0 3.9 5.8 7.0 15.4 17.5 17.3 10.4 100.0 100.0 100.0 100.0 100.0 1C0.0 100.0 100.0 OCTOBER 1970 JANUARY FEBRUARY SEPTEMBER OR LATER TOTAL * DIVIDEND MATURITIES) DECEMBER ~ 10 DECEMBER 15 NUMBER OF BANKS) (MEMORANDUM: 263 TOTALS MAY NOT ADD DUE TO ROUNDING. Digitized *for FRASER 92 85 49 37 12 TY AND WHICH ARE 18 TABLE AVERAGE 4A MATURITY OF OUTSTANDING NEGOTIABLE AT WEEKLY AT TIME REPORTING VARIOUS ( IN CERTIFICATES SURVEY SEP MONTHS) 1969 27-AUG (BY ALL REPORTING ISSUING 1969 30 JUL 1969 LOCATION 1 BANKS CD'S 3.4 3.5 3.7 3.3 3.3 CHICAGO 3.9 3.4 3.5 OTHER 3.3 3.4 3.5 YORK CITY (BY UNDER $200 $2C0-$500 MILLION MILLION S50C-SI,0C0 OVER $1 PILLION BILLION PRIME IN NEW YORK PRIME OUTSIDE NEW CITY 3/ YORK CITY 3/ NGN-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH B A N K S ARE THOSE ARE R E P O R T E D B Y SURVEY 3.4 NEW AS 1/ DATES CLASSIFICATION 24 DEPOSIT BANKS DATE OF BANK OF IN DENOMINATIONS REPORTED IN THE CALL WHOSE N E G O T I A B L E D E A L E R S TO T R A D E OF $100,000 REPORT CF OR SIZE OF BANK) 2/ 2.9 2.9 3.0 3.0 3.1 3.1 3.3 3.3 3.4 3.7 3.6 3.7 3.6 3.2 3.3 4.0 3.9 4.1 3.4 3.4 3.5 MORE CONDITION ISSUED ON BY W E E K L Y DECEMBER 31, REPORTING BANKS. 1965. 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 A S B E I N G OF THE H I G H E S T Q U A L I T Y AND W I T H I N 1 OR 2 B A S I S 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 . TABLE 48 AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS ( I N MONTHS) DATE OF SURVEY BANK CLASSIFICATION — — — — — —— — — 24 SEP 1969 — 30 JUL 1969 27 -AUG 1969 (BY LOCATION ) ALL RFPORTING BANKS 3.9 3.2 3.8 NEW YORK CITY 4.6 2.8 3.7 CHICAGO 5.3 2.8 4.1 OTHER 3.6 3.3 3. 8 ISSUING CD'S (BY SIZE OF BANK) 2/ UNDER $2 00 MILLION 3.5 3.2 3.5 $2CC-$500 3.4 3.4 3.6 $500—$1tGOO MILLION 3 .6 3.4 3.9 OVER $1 B I L L I O N 4.2 3.0 3.9 4.5 2.6 3.7 4.3 3.3 4.2 3.8 3.3 3.9 MILLION PRIME IN NEW YORK CITY 3 / PRIME OUTSIDE NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES 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 CF 2/ TOTAL OEP ) SI f S AS 2EP0RT60 I N THE CALL REPORT CF CONDITION ON DECEMBER 31, PR I M r $100,OOC OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 1965. ^aNKS APF THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH APF PFP.jr! TCI) 3 Y DE A LFP S TO TRADE WITHIN 1 C& 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. *: 7 — S E E TECHNICAL APPENDIX B. TABLE 5A RATIO (IF 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) 24 SEP 1969 27 AUG 1969 30 JUL 1969 ALL BANKS ISSUING CD'S 5.6 6.0 6.4 UNDER 2 0 0 6.3 6.5 7.1 200 - 500 6.6 7.3 7.6 500 - 1000 6.3 7.0 7.3 5.0 5.4 5.8 PRIME I N NEW YORK 3 / 3.8 4.2 4.6 PRIME OUTSIDE NEW YORK 3 / 5.2 5.5 5.7 NONPRI ME 7.1 7.5 8.0 OVER 10C0 1/ INCLUDES CERTIFICATES I N DENOMINATIONS CF $ 1 0 3 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT CF 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 WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- 1965. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT DEPOSITS. f TABLE 5B RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / TC TOTAL DEPOSITS AS OF 24 SEP 1969 (NUMBER OF BANKS 1 TOTAL DEPOSITS 2 / ( I N MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25* OR MORE AVERAGE CD TO DEPOSIT RATIO (PER CENT) 119 88 37 15 4 0 5.6 UNDER 20C 44 29 13 5 1 c 6.3 200 - 500 36 29 10 8 2 0 6.6 500 - 10CC 24 14 a 2 1 0 6.3 15 16 6 0 0 c 5.0 PRIME IN NEW YORK 3 / 5 2 0 0 0 0 3.8 PRIME OUTSIDE NEW YORK 3 / 3 8 1 0 0 0 5.2 NQNPRIME 7 6 5 0 0 c 7.1 OVER 1C0C If INCLUDES CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 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 WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- 1965. DEPOSITS IN THE DENCMINATOR 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 TIME CERTIFICATE OF DEPOSIT / I 27 AUG 1969 TO 24 SEP 1969 (NUMBER OF BANKS ) DECLINES OF TOTAL OEPCSITS 2 / ( I N MILLIONS OF DOLLARS) CD'S TC ZERO ALL BANKS ISSUING CD'S 10% OR MORE 5 TO 10* INCREASES OF 5% OR LESS NO CHANGE 5% OR LESS 66 58 60 20 35 5 TO 10% 10% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 14 UNDER 2C0 1 13 17 17 9 17 5 13 1 200 - 500 0 22 22 15 10 12 2 1 1 50C - 1000 1 21 13 11 1 , 3 C 0 0 0 10 6 17 0 3 1 0 0 PR IME IN NEW YORK 3 / 0 4 0 2 0 I 0 0 0 PRIME OUTSIDE NEW YORK 3 / 0 2 3 7 0 0 0 0 0 NONPRIME 0 4 3 8 0 2 1 0 0 OVER 10C0 1/ INCLUDES CERTIFICATES I N DENOMINATIONS CF $100 , 0 0 0 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONCITION ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- CR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965 • THE NUMBER OF BANKS I N THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. TABLE 50 PER CENT CHANGE I N OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT / 1 25 JUN 1969 TO 24 SEP 1969 (NUMBER OF BANKS I TOTAL DEPOSITS / 2 (IN ALL MILLIONS OF DOLLARS) REDUCED CD'S 25% TO OR ZERO MORE BANKS ISSUING CD'S INCREASE OF DECLINES OF 20 TO 25% 15 TO 20$ 5 TO 10 TO 15% 10% 5% OR LESS NO CHANGE 89 32 29 27 20 15 8 5% OR LESS 5 TO 10% 1C 25% OR MORE 20 TO 25% 15 TO 20% TO 15* ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 13 10 UNDER 2CC 2 20 9 10 10 6 9 4 2 5 3 2 3 6 3 200 - 0 29 8 6 10 9 3 3 4 4 1 0 1 7 0 5 0 0 — 1000 3 25 9 4 3 3 3 1 0 0 0 0 0 0 1 OVER 1000 0 15 6 9 4 2 0 0 0 1 0 0 0 0 0 0 4 0 3 0 0 0 0 0 0 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3 / 0 3 4 3 I 1 0 0 0 0 0 0 0 0 0 NONPRIME 0 8 2 3 3 1 0 0 0 1 c 0 0 0 0 500 PRIME IN NEW YORK 3 / 1/ INCLUDES CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONCIT ION ON DECEMBER 3 1 , 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- v THE NUMBER OF BANKS I N THIS TABLE DIFFERS FROM THOSE IN 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 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 27 AUG 1969 TO 24 SEP 1969 (NUMBER OF BANKS) TOTAL DEPOSITS 2 / ( I N MILLIONS OF DOLLARS) DECLINES OF 3% A NO OVER 2 TO 3% 1 TO 2% INCREASES OF 1% ANO LESS NO CHANGE IX AND LESS 1 TO 2% 2 TO 3% 3% ANO OVER ALL BANKS ISSUING CD'S 3 4 27 151 20 53 3 0 0 UNDER 200 1 1 6 40 9 31 3 0 0 20C - 500 2 3 10 44 10 15 G 0 0 500 - 1C00 0 0 8 37 1 3 0 0 0 0 0 3 30 0 4 C 0 0 PRIME IN NEW YORK 3 / 0 0 1 5 0 1 0 0 0 PR IMF OUTSIDE NEW YORK 3 / 0 0 I 11 0 0 0 0 0 NONPRIME 0 0 1 14 0 3 0 0 0 OVER 10C0 1/ INCLUDES CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONCITION ON DECEMBER 3 1 , 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 I N THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT DEPOSITS. TABLE 5F CHANGE I N 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 JUN 1969 TO 24 SEP 1969 (NUMBER OF BANKS) ( I N MILLIONS OF DOLLARS) ALL INC REASES OF DECLINES CF TOTAL DEPOSITS 2 / 4 TO 5% 5% AND OVER BANKS ISSUING CD1 S 3 TO 4% I TO 2% 2 TO 3% NO CHANGE 1% AND LESS 1% AND UNDER 4 TO 5% 3 TO 4% 2 TO 3% 1 TO 2% 5% AND OVER 13 12 26 33 58 70 8 26 9 3 0 0 0 UNDER 200 5 2 6 8 13 30 4 12 6 3 0 0 0 200 - 500 6 6 7 7 17 22 3 13 3 0 0 0 0 500 - 1000 1 2 10 8 14 12 1 0 0 0 0 0 0 1 2 3 10 14 6 0 1 0 0 0 0 0 0 0 0 2 3 2 0 0 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3 / 0 1 0 3 6 2 0 0 0 0 0 0 0 NGNPR IMF 1 1 3 5 5 2 0 1 0 0 0 0 0 HIGHEST QUALITY OVER 1000 PRIME IN NEW YORK 3 / 1/ INCLUDES 2/ TOTAL 3/ PRIME BANKS WHICH ARE NOTE- CERTIFICATES DEPOSITS AS ARE INTERBANK IN THOSE THE AND OENQMINATIONS REPORTED REPORTED DEPOSITS IN BY WHOSE IN CALL NEGOTIABLE DEALERS DENOMINATOR U.S. THE TO OF GOVERNMENT TRADE THE OF $100,000 REPORT OF GR MORE CONCITION CERTIFICATES WITHIN RATIO DEPOSITS. IN 1 OR THIS OF 2 ISSUED ON DEPOSIT BASIS TABLE BY WEEKLY R E P O R T I N G DECEMBER 31, ARE REGARDED POINTS OF ARE T O T A L BANKS. 1965. AS EACH OTHER DEMAND AND BEING OF WITHIN TIME THE THE SECONOARY DEPOSITS, MARKET. INCLUDING AND TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 SEP 1969 (AMOUNTS IN MILLIONS OF DOLLARS) en* S NATUR ING IN ALL DI STRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATL ANT A CHICAGO ST. LOUIS MINNE— APOLIS KANSAS CITY DALLAS SAN FRANCISCO 694.7 54.5 174.5 14.5 38.9 36.5 27.8 100.4 9.0 6.1 14.2 69.9 148.4 OCT 2 729. 1 160. 1 730.2 57.9 152.9 101.8 120.4 296.8 71.6 29.4 98.6 227.5 681.9 NOV 1709.5 103.9 456.5 46.5 106.7 48.8 100.6 224.9 56.7 17.6 81.5 119.8 346.0 DEC 1931.3 143.4 519.1 43.2 114.0 62.4 84.4 225.2 64.3 24.6 65.6 176.0 409.1 1970 JAN 1461.2 55.2 293.3 35.1 104.0 35.3 77 . 1 180.6 34.9 13.4 41.0 236.1 355.2 FEB 778 . 1 28.3 148.1 19.1 76.3 23.6 46 .3 110.2 19.0 5.0 33.8 78.4 190.0 MAR 650.2 27.5 143.2 14.2 44.3 33.9 24.8 84.3 27.3 3.9 15.4 87.2 144.2 APR 369.6 10.5 118.8 7.8 37.2 7.6 9.8 39.1 29.2 0.6 8.5 26.9 73.6 MAY 245.7 6.0 83.7 11.0 13.0 3.9 7.2 27.0 7.5 0.4 5.0 29.3 51.7 J UN 212.5 15.7 47.7 8.1 17.9 4.3 7.9 48.4 1.9 0.9 5.1 10.7 43.9 JUL 270.7 8.5 74.0 14.5 29.5 3.9 6.4 42.1 2.9 0.7 5.3 30.7 52.2 AUG 128.1 4.2 44.1 4.4 17.0 3.1 1.7 14.8 2.3 0.0 1.8 6.1 28.6 SEP 161.9 4.7 55.9 5.2 28.7 10.9 1.3 24.7 0.9 1.0 2.4 1.9 24.3 OCT OR LATER 396.0 13.1 77.1 11.2 160.1 8.2 8.6 35.1 6.2 7.1 1.1 18.2 50.0 11738.6 635.6 2966.2 292.7 940.5 384.2 524.3 1453.6 333.7 110.7 379.3 1118.7 2599.1 AVERAGE MATURITY !N MONTHS 2 / 3.4 2.7 3.3 3.8 5.2 3.0 2.9 3.4 3.3 3.0 2.7 3.3 3.1 NUMBER OF REPORTING BANKS 263 16 48 10 18 16 23 37 11 5 21 25 33 1969 SEP 2 5 - SEP 30 TOTAL * 1/ INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B . * DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING. ' z TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 SEP 1969 (AMOUNTS CD* S MATURING IN ALL 01 s TRICTS BOSTON 1969 OCT 594. 1 21.4 NOV 174.5 DEC NEW YORK IN MILLIONS OF DOLLARS) ST. LOUIS M1NNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 42.9 12.4 1.0 17.6 65 . 4 153.1 7.7 24.2 4.7 1.5 2.4 11.6 49.1 13.0 18.1 49.9 9.2 3.2 19. 9 27.4 86.1 3.9 1.4 2.5 12.7 1.6 0. 1 0.0 2.7 14.2 0.1 2.4 2.7 5.0 10.5 1.8 0.4 2.9 7.1 15.4 PHILADELPHIA CLEVELAND RICHMOND ATLANTA 202.6 10.2 26.8 11.2 19.5 13.5 43.3 2.2 9.5 4.8 403. 3 28.2 115.7 11.1 21.5 1970 JAN 50. 9 2.5 9.0 0.3 FEB 60. 8 1.3 11.2 CHICAGO MAR 362.3 9.9 80.2 6.2 23.6 27.7 17.8 36.C 21.9 3.0 7.6 49.8 78.6 APR 13.9 0.6 1.9 0.1 1.1 0.4 0.0 1.9 l.C 0.0 0.2 3.3 3.4 MAY 36.6 0.3 28.4 0.1 0.9 0.4 0.2 0.5 0.4 0.0 0.7 2.2 2.5 JUN 8.0 0.3 1.1 0.0 0.2 1.0 0.1 0.2 0.0 0.0 0.2 0.3 4.6 JUL 7.4 0.3 3.2 0.0 0.6 0.0 0.5 0.8 0.0 0.0 0.0 0.3 1.7 AUG 18. 9 0.4 10.8 0.4 0.5 2.0 0.2 1.3 0.3 0.0 1.0 0.6 1.4 212.8 9.7 87.2 7.1 21.0 10.5 1.0 34. 1 4.2 1.0 3.4 6.3 27.3 1933.5 88.4 594.6 37.8 112.0 75. 1 72.6 215.0 57.5 10.2 55. 9 177.0 437.4 3.9 3.5 4.1 4.4 4.6 5. 1 3.1 4.4 4.2 4.2 3.3 3.3 3.2 SEP OR LATER TOTAL * AVERAGE MATURITY I N MONTHS 3 / 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 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 OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 SEP 1969 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DI STRICTS ST. LOUIS NINNEAPOL!S KANSAS CITY DALLAS SAN FRANCISCO BOSTON 5.9 8.6 6.9 2.7 5.5 3.7 6.2 5.7 OCT 23.3 23.0 20.4 21.5 26.6 26.0 20.3 26.2 NOV 12.7 19.2 15.5 17.0 15.9 21.5 10.7 13.3 12.1 16.2 16.1 15.5 19.3 22.2 17.3 15.7 15.7 12.0 11. 1 9.2 14.7 12.4 10.5 12. 1 10.8 21.1 13.7 5.0 6.5 8.1 6.1 8.8 7.6 5.7 4.5 8.9 7.0 7.3 4.3 4.8 4.9 4.7 8.8 4.7 5.8 8.2 3.5 4.1 7.8 5.5 3. 1 1. 7 4.0 2.7 4.0 2.0 1.9 2.7 8.8 0.5 2.2 2.4 2.8 MAY 2. \ 0.9 2.8 3.8 1.4 1.0 1.4 1.9 2.2 0.4 1.3 2.6 2.0 J UN 1.8 2.5 1.6 2.8 1.9 1.1 1.5 3.3 C.6 0.8 1.3 1.0 1.7 JUL 2. 3 1.3 2.5 5.0 3. 1 1.0 1.2 2.9 C.9 0.6 1.4 2.7 2.0 AUG 1.1 0.7 1.5 1.5 1.8 0.8 0.3 1.0 0.7 0.0 0.5 0.5 1.1 SEP 1.4 0.7 1.9 1.8 3. 1 2.8 0.2 1.7 0.3 0. 9 0.6 0.2 0.9 OCT OR LATER 3.4 2. 1 2.6 3.8 17.0 2.1 1.6 2.4 1.9 6.4 0.3 1.6 1.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHI L A DELPHIA CLEVELAND 5.9 5.0 4. 1 9.5 5.3 25.2 24.6 19.8 16.3 26.5 14.6 16.3 15.4 15.9 11.3 DEC 16.5 22.6 17.5 14.8 1 * 7 0 JAN 12.4 8.7 9.9 FEB 6.6 4.5 MAR 5. 5 APR 1969 SEP 25 -SEP 30 TOTAL * 1/ NEW YORK RICHMONO ATLANTA CHICAGO INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1Z AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 SEP 1969 ICUHULATIVE PERCENTAGE) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 6.9 2.7 5.5 3.7 6.2 5.7 28.3 27.3 24.2 32. 1 29.7 26.5 31.9 48.7 47.5 42.8 41.2 48.0 51.2 37.2 45.2 43.8 64.9 63.6 58.3 60.5 70.2 68.5 52.9 60.9 67.5 54.9 74.1 78.3 70.7 71.0 82.3 79.3 74.0 74.6 78.3 74.0 63.0 80.2 87.0 78.3 76.7 86. 8 88.2 81.0 81.9 90.2 83.1 78.9 67.7 89.0 91.7 84.1 84.9 90.3 92.3 88.8 87.4 87.9 91.9 87.1 81.6 71.7 91.0 93.6 86.8 93.7 90.8 94.5 91.2 90.2 MAY 90.0 92.8 89.9 85.4 73. 1 92.0 95.0 88.7 95.9 91.2 95.8 93.8 92.2 J UN 91.8 95.3 91.5 88.2 75.0 93.1 96.5 92.0 96.5 92.0 97.1 94.8 93.9 JUL 94.1 96.6 94.0 93.2 78. 1 94.1 97.7 94.9 97.4 92.6 98.5 97.5 95.9 AUG 95.2 97.3 95.5 94.7 79.9 94.9 98.0 95.9 98.1 92.6 99.0 98.0 97.0 SEP 96.6 98. C 97.4 96.5 83.0 97.7 98.2 97.6 98.4 93.5 99.6 98.2 97.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL 01 s TRTCTS BOSTON 5.9 8.6 OCT 29.2 NOV CD* S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 5.9 5.0 4. 1 9.5 5.3 33.8 30.5 24.8 20.4 36.0 43.8 50.1 45.9 40.7 31.7 DEC 60.3 72.7 63.4 55.5 1970 JAN 72. 7 81.4 73.3 FEB 79.3 85.9 MAR 84. 8 APR 1969 SEP 2 5 - SEP 30 OCT GR LATER 1/ 100.0 100.0 NEW YORK CHICAGO INCLUDES ONLY CERTIFICATES ISSUED I N DE NGMINAT ICNS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 SEP 1969 (PERCENTAGE D I S T R I B U T I O N ! CD' S MATURING IN ALL 01 S~ TRICTS BOSTON NEW YORK PHI L A DELPHI A CLEVELAND RICHMONO ATLANTA CHICAGO ST. LOUIS MINNEAPOLI S DALLAS SAN FRANCISCO 1969 OCT 30.2 24.2 34.1 27.0 23.9 14.9 26. 9 20.C 21.6 9.8 31.5 36.9 35.0 NOV 9.0 15.3 7.3 5.8 8.5 6.4 10.6 11.3 8.2 14.7 4.3 6.6 11.2 DFC 20.9 31.9 19.5 29.4 19.2 17.3 24.9 23.2 16.0 31.4 35.6 15.5 19.7 1 9 7 0 JAN 2.6 2.8 1.5 0.8 3.5 1.9 3.4 5.9 2.8 1.0 0.0 1.5 3.2 FEB 3.1 1.5 1.9 0.3 2.1 3.6 6.9 4.9 3.1 3.9 5.2 4.0 3.5 MAR 18.8 11.2 13.5 16.4 21.1 36.9 24.5 16.7 38.1 29.4 13.6 28.1 18.0 APR 0.7 0. 7 0.3 0.3 1.0 0.5 0.0 0.9 1.7 0. C 0.4 1.9 0 .8 MAY 1.9 0.3 4.8 0.3 0.8 0.5 0.3 0.2 C.7 0.0 1.3 1.2 0.6 J UN 0.4 0.3 0.2 0.0 0.2 1.3 0.1 0. 1 0.0 0.0 0.4 0.2 1.1 JUL 0.4 0.3 0.5 0.0 0.5 0.0 0.7 0.4 0.0 0.0 0.0 0.2 0.4 AUG 1.0 0.5 1.8 1.1 0.4 2.7 0.3 0.6 0.5 0.0 1.8 0.3 0.3 11.0 11.0 14.7 18.8 18.8 14.0 1.4 15.9 7.3 9.8 6.1 3.6 6.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 SEP OR LATER TOTAL * 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY CERTIFICATES ISSUED I N DENCMINAT ICNS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. NOTE * KANSAS CITY SALES IN THIS TABLE ARE NOT ADJUSTED FOR C D ' S THAT HAVE MATURED. DETAILS MAY NOT ADD TO TOTALS 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 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 comparibility 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