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L.4.1 CONFIDENTIAL (FR) March 26, 1975 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE WEEKLY REPORTING BANKS as of February 26, 1975 NOTE; Sales since the previous survey and comparison with previous data reflect revisions in the January report whereby $169.0 million in outstanding negotiable CD's have been deducted from the series. Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 1/ 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 TIME CERTIFICATES OF DEPOSIT AT WEEKLY R E P O R T I N G B A N K S AS OF 26 FEB 1975 AMOUNT (MILLIONS OF DOLLARS) I M A T U R I N G IN PERCENTAGE 01STRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS M O N T H 2/ (MILLIONS OF D O L L A R S ) *,134.7 5.9 5.9 .0 NAPCK 32,727.0 37.3 43.2 11,779.9 APRIL 19,2*1.0 22.0 65.2 6,078.7 MAY i FEBRUARY 2 7 - 2B 10,168.6 11.6 76.a 4,956.6 JUNE *,395.5 6.1 P2.° 1 ,879.2 JULY 4,305.# 4.9 87.8 823.0 AUGUST 3,565.8 4.1 91.0 2,669.4 972.6 1.1 93.0 350.7 1,094,6 1.2 94.2 248.8 NOVEMBER P31.2 .9 91.1 341.4 DECEMBER 57#.6 .7 95.P 191.3 1,474.6 1.7 97.5 382.3 SEPTEMBER OCTOBER , JANUARY FEBRUARY 1,037.1 1.2 98.7 O V E R If M O N T H S 1,155.2 1.3 100.0 XXX #7,732.1 100.0 XXX 30,920.0 TOTAL #MEMORANDUM; M A R C H |0 M A R C M §7 A*#:L 1% 2,222.4 2,9*2.1 1,#47.2 1,218.7 3/ TAX A N D D I V I D E N D M A T U R I T I E S ) 2.5 3.4 2.1 XXX XXX XXX 844.8 1 ,293.2 624.3 1/ W t i t B f $ O N L Y 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 S 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . ?/ Sf I 3/ SAL** OF C * * S * A # * ; T TECHNICAL *P»F*#OI A. AF#E* $1 " O N T W S . 1S9LE ?A 1/ O l f T l l i U T T O N OF O U T S T A N D I N G N E G O T I A B L E TJMF CERTIFICATES OF D E P O S I T AT N E W V O U * C I T V , CHICAGO* AND ALL OTHER WEEKLY REPORTING BANKS msiwiw AS OF 26 FEF 1*7% I IN M I L L I O N S OF D O L L A R ? ) N f N VOU* C I T V < © • $ M A T U R I N G IK AMOUNT CHICAGO AMOUNT S A l f S SINCE PREVIOUS MONTH 2/ ALL OTHER W E E K L Y REPORTING BANK SALFS SINCE PREVIOUS MONTH 2/ AMOUNT SALES SINCE ^ P R E V I O U S MONTH 2/ :#602.1 .0 too.e .0 2,972.8 MARCH 10,617.1 3,4#*.0 2,*21.6 827.1 1%,C88.3 1 ltti H i 2 ? - fit 2# .V '467.8 APRIL 6,677.6 1,740.3 2,570.9 1,081.0 10,(42.5 3,256.5 MAY Se9SS.# %,#6*.« 1,0*1.1 *7P.7 160.1 2,508.0 JUNE 2,33#.$ *93* 4*4.0 140.1 2,603.0 785.6 JUL* *,76#.% 301.7 31#.2 60.7 ?,?)<.5 AUGUST 2*0.7 1.017.4 194.1 148.4 2,090,% 1 ,503.5 IFFFLFIII 277.1 136.2 6*.4 4P.1 6 30.1 166.6 27.2 107.0 39.7 668.1 181.9 ##VE##E* 230.: *#.* #2.2 31.* MP.9 261.4 OECEMSE# 160.4 27.2 32.# 9.1 38<.4 155.0 39.* 407.6 145.5 581.2 196.6 280.1 2P*. * /3 620.1 6 7 4 . 4 /3 OCTOBER 4#*.* 5 WE# f ITFFR J A N U A P V 660. 6 136.# 2*#.7 n 12 MONTHS 2i:.« XXX 27.E XXX 915.3 XXX 30,262.2 9.90*.* 9,012.6 3,396.? 6P,656.8 17,617.7 TOTAL # N U M B E R OF H E W TING B A S K S 12 11 (MEMORANDUM M A R C H *# M A R C # A? A M U IS 1/ m O L W i S e m v 6+0.0 1,0*2.4 767.4 S / S A L E S OF c o n 202.# 346.7 1*1.0 C S * T | F K A T E S IN D E N O M I N A ? I O N OF S 100,000 O * WORE ti SEE TECHNICAL APPENDIX A . M A T U R I N G AFTER T O T A L S W t r NOl AGO Digitized for# FRASER out 11 M O N T H S . 10 BOUNOINf*. 227 TAX A N D D I V I D E N D M A T U R I T I E S ) 194.6 206.# 272.2 84.6 90.1 109.1 ISSUED F*Y W E E K L Y R E P O R T I N G B A N K S . 1.337.8 1.721.9 807.6 557.3 855.1 376.3 # TABLE 28 P S T W I W eiSTmetmoN NFV OF OUI$TANOI*S NEGOTIABLE TON* CITY, CHICAGO# A$ OF A W 26 F E B TIME C E R T I F I C A T E S AIL O T H E R W E E K L Y R E P O R T I N G 1 * 7 % A N D 29 J A W 1/ OF D E P O S I T *T BANKS I975 IPE»CFNTA6F DISTRIBUTION! NFti V O # K 01 MONTHS .) 3/ 26 FEB ALL 29 JAN 26 FEB 29 J A N ^.0 6.7 5.2 6.1 5.1 36.9 31.3 41.P 39.4 39.4 22.1 23.* 2R.S 21.1 20.7 23.1 0 ) MONTH? 13.1 l«.§ 11.7 1<.7 10.7 13.5 04 MONTHS 7.7 6.7 <.0 *.0 5.4 5.3 4.4 3.5 3.6 3.3 6.6 06 MONTHS 4.2 4.7 2.2 2.7 4.3 3.5 0 7 MONTHS .9 .8 .7 .9 1.3 1.2 MONTHS lei 1.2 .2 1.4 .9 .9 .7 1.1 1.0 m 0# MONTHS IO t m m m n MONTHS .* .# .* .9 .6 .4 .4 .8 .5 .4 4.S .3 1.2 .5 1.4 3.1 2.8 1.3 .8 .7 .3 .3 1.9 1.7 100.0 100.0 100.0 100.0 100.0 1.6 12 M O N T H S 12 m o n t h s 101A4 . * 1/ INCLMOF $ O N L ¥ ( F M I M C L I B •SUES. IN D I N O * ! N A T I O N S 100.0 1 1 0 0 . 0 0 0 OR MORE I S S U E D BY W E E K L Y R E P O R T I N G ? / N U H B I S O F © A Y F #E##A:##:##$ IN S U R V E Y M O N T H . T H I S P E R I O D V A R I E S W I T H T H E N U M B E R * 0 1 L O V I N G IKI L A S T tffONfSOAV O F T H § M O N T H . S / NU###F# 0 # M O U T H S FOLLO##:### THE • OTHER 0 2 MONT### 0# MONTHS m m CHICAGO ?9 JAN 26 FEB ©~6 OAVf 2/ C fTV TOTALS W A V NOT SURVEY MONTH, 6 0 0 OTFF T O R O W O I N G . OF DAYS TABLF ?C 3/ KAlliRllV P l $ 1 P | M S T f f W OF O V T t r t H O f M C *fFGC*TtA6LF TI"F CERTIFICATES OF DEPOSIT AT MfM vfWK C I T V * C H I C A G O , AND ALL OTHFR W F F K L * P F * D R : T N C A* OF 26 C AMKS I*"** AND 29 JAN 1*75 ICUMULATIVF D I S T R I B U T I O N ) tft»$ W A T W 1 N 6 IH 0 - 6 D A Y S 2/ m m H I W VD#K CI*V — « ?6 F|S 2* J A N * 3 S.O CHICAGO 2 6 FEB 6.7 ALL OTHER 2 9 JAN 26 FFB ?9 JAN S.2 6.1 *.1 66.5 01 MONTHS 3 / 41.0 39.* 38.0 47.0 &5.S 0 2 MONTHS 63.1 63.4 66.4 68.1 66.2 67.6 03 MONTHS 76.2 79.2 7ft.2 83.P 76.9 81.1 0 * MONTH* #3.9 E*.9 A3.2 8F.8 82.3 86.4 0% MONTHS 69,7 90.3 86.7 92.1 86.9 90.0 OFE M O N T H S 93.9 *4.0 88.9 94.8 91.2 93.5 0 7 MONTHS, 94.B 9S.B P*.6 95.3 *2.5 *4.7 OB MONTH* 9*.9 96.3 90.8 94.4 93.9 95.6 0 9 MONTHS 96.7 *7.2 *1.7 *6.2 95.0 96.6 IC M O N T H S 97.2 97.R 92.1 96.7 95.8 97.1 IT M O N T H S 96.B 96.2 96.6 *7.0 *7.0 97.6 12 M O N T H S 99.3 99.6 99.7 99.8 98.3 9P.4 100.0 100.0 100.0 100.0 100.0 100.0 if # # N T M $ 1/ ItVCLtfOf$ m#LV 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 WORF BANKS* ISSUED BY WEFKLY REPORTING 2/ *##*&## CF D A Y S S F H A I N I N O IN SURVEY M O N T H . T H I S PERIOD V A R I E S WITH T H E NUMBER OF DAYS #mLemur* w tsrt W e d n e s d a y OF THE M O N T H . 1 / * # # * # # # OF FflLLtmiNC, THE SURVEY M O N T H . MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TJ MF CERTIFICATES C«= DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ taste 14 (AMOUNTS A< O C 26 FEB IN M I L L I O N S 19 7* PTR D O L L A R S ) *1 CD'S MATURING 1*74 FEB IN 27-2# 4,114.7 $200 MILLION TO $500 "ILL I O N 491.2 20P.2 AND OVER 3/ OUTSIDE NEW YORK CITY WON -PRIME NEW YORK CITY TOTAL 6*7.3 3,768.0 i,54s.e I,716.6 48*.6 9,997.2 8 ,838 .8 3 ,537.1 6,301.2 5,731.1 1 ,776.6 MARCH 32,727.1 1,717.4 3,799.2 4,P37.4 22,37?.] APRIL 19,2*1.* *10.* 2,000.2 2,*71.3 13 ,POR WAY 10,168.« 501 .3 B9P.2 1,254.3 7,*06.7 3,614.3 2,806.1 886.3 JUNE 5.39S.3 214.0 491.P 6*8.3 6,031.2 2,229.7 1,238.3 563.2 JULY 4*305.P 173.* 3*2.0 37F.7 3 ,371 .6 1,719.3 1,141.7 510.^ AUGUST 3.565.6 143.6 300.2 367.A 2,7S4.0 1,256.7 1,237.1 260.2 *72.6 49.4 112.B 12%.4 685 .0 249.8 291.7 143.5 1,0*4.5 30.5 108.8 149.0 8 06.2 317.5 385.8 102.9 NOVEMBER P31.1 30.7 P7.2 105.0 608.2 223.2 331.5 53.5 ntCEMPLP 578.% 19.0 52.7 *2.4 &14.4 1^8.7 188.3 67.4 1,239.9 456.3 617.3 166.3 814.o 136.6 588.0 90.3 SEPTEMBER OCTOBER 1976 $200 MILLION ANO UNDER TOTAL BILLION PRIME $*00 MILLION TO $1 B I L L I O N JANUARY 1,474.* 35.6 96.6 112.2 FEBRUARY 1,037.0 28.* 7*.l 1 IB.* MARCH 1,155.? 73 .7 *2.3 188.E BIO.4 177.6 492.7 140.3 Pt,731.4 4,135.9 P.*6%.6 11,6*6.4 62,970.5 2°,583.7 25,605.0 8 ,781.8 MARCH *0 2,222.4 133.0 2*1.2 36*.3 1,472.9 6*0.9 588 .8 233.2, MARCH ; ? 2**82.0 168.2 2*1.6 4&1.0 2,091.2 919.5 755.6 416.r IS 1.P47.2 45.0 114.7 171.0 1,516.5 678.3 641.2 197.0 2^0 *3 37 7 12 18 OR LATER TOTAL * TAX APRIL AND DIVIDEND M A T U R I T I E S ) |*EmR#Nr>UP: 1/ |Nt tUOl 5, C I M 1F|< &TFS !* M N O M | N A T | r N S If TOlAl |tfcPO<II< A * RfPOcTfO IN Tnf C U L 4 1/ ##;*F RRE *A#w< A$f wfrtiA»tr ^ P$P(fT#0 tv r%ALf*S TO tPAOf WITHIN ; np * toisi < "AV Mil ?1 If v#s FRASER Digitized for NUMBER OF RANKS ) 50 BO SVJf.,000 OR MOPE 1SSU 0 «V WEEKLY REPORTING BANKS. M •x ^ CONDITION f»N O-CFMBFR 3! , 1°6S. : O«= O F P ^ S I T Pf*lNI< DOT PCGARHFO AS BEING OF THE HIGHEST FAT% pTHER WITHIN THE SECONDARY MARKET. DUALITY AND WHICH ARE TABLE SALE 5 /!/ OF NEGOTIABLE TIMF CERTIFICATES OF DEPOSIT SINCE D E V I O U S MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE NR RANKS 3/ A< OF 26 FEB I AMOUNTS IN MILLIONS OF DOLLARS > SB $1 B I L L I O N co*$ m i m t m tn TOTAL S200 MILLION AND UNDER t?00 MILLION TO $<00 MILLION S500 MILLION TO SI BILLION NEW YORK CITY 19?* FEB AND PRIME OVER 4/ OUTSIDE NEW YORK CITY NON-PRIME ??~2» MARCH 11,779.9 #44.5 1164P. 7 1 ,QSQ.O 7,326.8 3,247.1 2,686.1 1,393.6 APRIL 6,07#.# 31?.* 614.2 F69.8 4,277.3 1,639.8 2,134.8 502.7 MAY 4,9*6.6 244.1 434. P 60B.Q 3,668.8 I,801.1 1,464.1 403.6 JUNE &,e?*.o 64.1 144.P 224.6 1,445.5 612.7 143.4 JULY AUGUST PPO.4 823.1 41.2 B1.4 107.3 593.2 288.7 249.9 54.6 2,669.4 98.1 212.6 256.s 2,102.2 996.4 974.3 131.5 SEPTEMBER 350.B 10.3 33.< 39.0 268.0 109.7 110.1 48.2 OCTOBER 24*.o 5*6 6 6*.6 154.1 27.2 113.3 13.6 NOVEMBER 341.3 9.F 3%.B 36.P 25P.Q 47.5 197.4 16.0 DECEMBER 191.2 4.4 A.7 19. « 156.6 27.0 125.5 JANUARY 3B2.4 4,1 26.0 29.5 322.P 39.9 264.6 18 1*21P.7 2P.1 66.6 78.< 1 ,04%.5 232.7 696.6 116.2 30,920.1 I,671.6 3,346.7 4,279.9 21,621.7 9,346.5 9,429.4 2,845.8 FEBRUARY OR LATER TOTAL • TIV I 10 # 1% 6.1 1 IKIN fiTwrncnn MI TI ID T T T T #44.9 70.3 131.7 150.? 492.6 19%.8 20S.8 91 .0 1,293.2 103.0 150.5 267.9 771.6 332.3 300.2 139.3 624.2 i7.e 6B.6 77.P 680.2 128.8 302.5 48.9 NUMBER OF BANKS) *3 SO 37 #/ til APPtw ik *. ;/ uft * IN f (NOMINATION* W *100,000 OF »Ck f !<r UED BY WfFKLY REPORTING BANKS. T31A# ff$»0<I?« A! 1% TH* CAlt e$po#T OF CONDITION ON DECEMBER 31, 1*65. 4/ *f*M# *A\K< Af* 1*405$ WWpt# Nt40*:A*lf ffPI I N M A T E S OF *fpn«;T A*E RtGAROEO AS BEING OF THE HIGHEST DUALITY AND WHICH ARE *$PO»TF( BY M A l f S t T( ?*A*f M1TMIS # "[V ? B A S M PflNT* mr nTwpR wfTHlN THE SECONDARY MARKET. * T4 1A11 MAY WO# AOO *(*F 10 *04#N01NG. IB PA1UPITY TA#lf O I S T T I E U T L O N OR OUTSTANDING NEGOTIABLE TI*F F'F D E P O S I T CERTIFICATES 1/ AT WEEKLY REPORTING B A N K S BV S I Z E OF B A N K S ?/ A* OF 26 FEB I*?* PERCENTAGE D I S T R I B U T I O N SI $200 101AL CD'S #ATU*:N4 IN PILLION ANO UWOER $200 PIILICN TO $*00 PILLION BILLION AND PRIME »*00 PILLION TO TOTAL SI "IILI^N NEW YORK CITY I W i m 4 * S.O 6.0 5.4 3/ OUTSIDE NEW YORK CITY NON-PRIME 6.7 5.5 *A*(M 37.3 41.S 42.4 41.5 35.5 35.0 34.5 40.3 APRIL 22.0 22.0 22.3 22.1 21.9 22.0 22.4 20.2 PAY LL.S 12.1 10.0 10.B 11.9 13.3 11.0 10.1 4.8 6.4 ^ 4.5 5.8 4.8 3.0 1.1 1.6 FES *.0 27-2P Jim 6.: ^.2 JULY 4.O 4.2 AUCUS1 *.l SEPTEPPER 1*1 *• .6 6 7.8 4.3 3.2 5.4 6 .0 3.? 3.2 4.4 1.2 1.3 1.1 1 .1 0.9 OCTOBER I.? 0.7 1.2 1.3 1.3 1.1 1.5 1.2 TWOVfPREP 0.* 0.7 1.0 0.9 1 .N O.R 1.3 0.6 OfCEPRff 0.7 0.? 0.6 O.P 0.7 0.6 0.7 0.8 JANUARY 1*7 0.9 L.C 1 .0 2.0 1 .6 2.4 1.9 FEBRUARY 1*2 0.1 0.6 I .0 1 .3 O.F 2.3 1.0 MARCH Op t A « P I.T L.P 0.9 1 .6 1 0.6 1 .9 1 .6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * 100.0 ) - — PAROH I© 2.* 3.2 2.P T .1 2.3 2.3 2.3 2-7 PARCH i / 3.4 4.1 1.1 3.P 3.3 3.2 3.0 4.7 APRIL 2.1 1.1 1.3 L.< 2.4 2.4 2.5 2.2 1/ M IfyCUSfF C!*?!FlCm 1/ TOTAl tf*OSIIS AS SZ PRIPE FANKS R E P O R T E D BY * OVER r IN r f N O P I N A T l O N ? OF $ 1 0 0 , 0 0 0 CP #CRE ISSUED BY WEEKLY REPORTING BANKS. IN T»*f CALL REPORT BP CONDITION ON OECFMBFP 31, 196%. APE 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 O F D E P O S I T A R E R F G A R O E D A S B E I N G O F T H E H I G H E S T ( f A l f R S TC TCAOFC WITH*** I RR * » A * I C P O I N T S O F E A C H O T H E * W I T H I N T H E S E C O N D A R Y M A R K E T . TOTALS MAY NOT APR rtlf TO ROHNOlNG. QUALITY AND WHICH ARE ' P* TIP IIV PirtWIRUf tew ir CUT ST ANO I NT- NFGDTIAAIF T!«* CF9TIF1rATf< OF DEPOSIT 1/ *1 ttfKLV RF*ORT|NG SANK* «v c u r OF RANKS ?/ A* OP ?6 FFR 1*7* CUMULATIVE PFPCFNTACF $ I BILLION ANO OVER C*« *AW*»;*G ;* *## ?? ?# f f»t At, *.9 HitlION ANO tm0(9 $700 fttllON TO $V»0 PI11I0N *.* .c PAFF* **on *ILLf^N TO SI BILLION PR IMF ?/ TOTAL NFW YORK CITY 6.0 OUTSIDE NFW YORK CITY NON-PR IMF S.4 6.7 S.5 *7.9 67.6 41 60.6 4} .2 65.8 63.6 62.4 63.6 66.0 75.3 75.7 74.6 76.1 AP##l 6».4 TO.? 69.< PA% #0.6 *0.? 80.3 P~.7 PS.* PI.7 A3.5 79.4 P2 .5 90.0 P*.l P7.] 8Q.S 83.9 88 .3 9S.2 *?.3 91 .< 93.o 68.7 91 .3 *6.6 *3.6 9?.6 94.A 89.8 92.9 JVM * .+ A7.P AWCUt* 90.0 *1.9 *?.0 *4.7 rc#c*f* 96.? 9% .4 **.E *6.? Q3.9 95.O 91 . 3 94.1 *evT*#E# 9*.* 9^.1 96.* 95.6 OA.O 96.7 Q2.6 96.7 Offf##*# 1#?* J A W U A * * F ##VA*V OP 1##** 9*.# 96.6 97.4 96.6 97.3 93.3 9^ .5 *?.% 9?.% 98.4 97.6 *7.6 OR .9 95.7 97.4 9#.? 9#.? **.? 9P.4 *P.9 99.6 96.0 98 . 4 100.0 IOO.O 100.0 100.0 100.0 100.0 100.0 100.0 IN o m o * ; W A ? ; o * s OF t i o o *000 OR MORE ISSMFO %Y WEEKLY REPORTING RANKS ;/ ; * c i w s 7/ tot*T A< I R W » ! I D iw TNF c*it mpmi OF CQNOITION ON OECEHBER ?I* 1965. 1 / # # : M ***** A*f TMPfr WHOSE WESIITIALIF CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE f • OFAll®$ W 1**01 W W IN 1 0# ? BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. 4 ^ *a#W ?;*p c ? r c p n t i T M *? WffKlV siNcr pRFvimr. MONTH ?/ ?AYf< 9* S U & 1* BASK? %/ Af C* ?* ff» !*?< pf*Cf%?ACf ri*?*;»wTi ~4 $1 BILLION AND OVER € B * s * # * * * # * & ;* :*?* #r$ 1MAI #200 " M l ir*i Aur w o t # $«00 *111*9* TO 91 mill ION $?oo w n t m n TO $#00 n u t m n PRIME 4/ TOTAL fFW YORK CITY OUTSIDE NEW YORK CITY 36.7 26.< K NON-PRIME ??*?# #A#t* t#.* A#»#t **.? m* #*.r 4.% 3# 2.7 2." #.# rnmm 1.1 e.a *ueu$i ?3.o A*.3 4*.P 4O.0 1*.0 IF.4 20.3 19.A 17.S 22.6 17.7 14»A 13.0 14.? 17.0 1«.3 15.5 14.2 4.3 4.? 6.7 9.5 4.4 5.0 2.4 2.^ 2.7 3.1 2.7 1 .9 6.4 6.0 9.7 10.7 10.3 1.0 O.O 1 .? 1.? 1.? 1 .7 4.6 CK#0#f» 0.# 0.3 1.2 1.? 0.7 0.3 1.2 0.5 WO***### 1.1 C.4 !.! O.o 1.? 0.5 2.1 0.5 #*<*»#(* 0.4 A.3 0.3 0.^ 0.7 0.3 I .3 0.2 1 mt 0.? o.m 0.7 1 .< 0.4 2.8 0.6 %.* I.? 2.0 1 .e 4.9 2.61 7.4 4.1 100.0 100.0 100.0 100.0 100.0 100.0 3.* 2.3 2.1 2.2 3.2 #*$* JAWWA** #f lAff* #m*i * #00.0 iMaMeiimiM* 100.0 t tv m n ntufneun uiTiiDtiico *A#0 *@ 2.? 4.? **#<*" . 4.? 6 .2 4.1 6.3 3.6 3.6 3.2 4.9 *#*$! 1* 2.0 1.1 1.4 i.e 2.2 1.4 3.2 1 .7 ##E*0PAW0U#*: #3 ;/ ?f %/ */ * *0 NU»» ER OF BANKS) *0 37 7 12 %4# #*(«*$* Ai Afff*n;% A . 3*K*4*r#' <$?*;$ K A t f t *#wf*;%At#r#« r# $*00*000 r* *o*e issuen mv wffKiY REPORTING PANKs. #mA( f *$»***##? ;* * w fAii t$po*w of CONDITIO* (*# DfCfp#rp 31, ;*&«». f 4%1W| f # W * * M 1 ^ * 1 I *# ^t?A*l# , |#llf ir Atf-S. 9f OF POSfT Aft F REGARDED AS PFING OF THE HIGHEST DUALITY AND WHICH ARE ttf r w H T , *» 1* #&*r# *#;**#"' * & ? "A*;* P^TN** O# ?f ' 'TWfP WITHIN THE SECONDARY MARK FT. W t#t1 *At +T^ * f **4 . 18 TABLE 4S AVERAGE MATURITY OK OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY HATES UN PANIC. CLASSIFICATION MONTHS 1 DATE OF SURVEY w—e.-—.*—...—— ?6 FEB 1975 ?9 JAN 1975 25 DEC 1974 CBY LOCATION) ALL REPORTING BANKS ISSUING CD'S 2.3 2.1 2.0 NEW YORK CITY 2.2 2.1 2.0 CHICAGO 2.5 2.0 1.8 OTHER 2.? 2.1 2.1 IBY SIZE OF BANK) 2/ UNDER S2DO MILLION 2.1 2.1 1.9 S200-SS00 MILLION 2.1 2.0 1.9 t500~f1,000 MILLION 2.1 2.0 2.0 OVER SI BILLION 2.4 2.1 2.0 PRIME IN NEW YORK CITY 3/ 2.3 2.2 2.0 *RIMF OUTSIDE NEW YORK CITY 3/ 2.6 2.1 2.0 NON-PRIME 2.3 2.3 2.1 1/ IWTLUOeS CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. i./ TOTAL DEPOSITS AS REPORTED IN TMf CALL REPORT OF CONDITION ON DECEMBER 1/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BFT*'C- OF THF HIGHEST QUALITY AND WHICH APf REPORTED BY DEALERS If TRADE WITHIN | OR ? BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. 31, 1965. TABLE 6* AVERAGE MATURITY OF NEGOTIABLE TINE CERTjeiCATF< OF DEPOSIT 1/ SOLO BY WEEKLY PFPHRTING BANKS DUPING TMC MONTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 26 FEB 1*75 ?9 JAN 1«75 25 DEC 1974 (BY LOCATION) ALL REPORTING BANKS ISSUING CD*< 2.6 2,3 2.0 #^W YORK CITY 2.< 2,6 2.2 CHICAGO 3.3 2.6 2.0 OTHER 2.6 2.1 1.9 (BY SIZE OF RANK) 2/ UNDER $200 MILLION 1 .9 l.Q 1.7 •200-$*»00 MILLION 2.1 1 .9 1.9 $*00-$l,000 MILLION 2.1 1 .B 1.9 OVEP $1 BILLION 2.9 2.5 2.1 PRIME IN NEW YORK CITY 3/ 2.5 2.7 2.2 PRIME OUTSIDE NEW YORK CITY 3/ 3.4 2.6 1.9 NON-PRIME 2.2 2.4 2.0 1/ INCLUDES CERTIFICATE* IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. ./ TOT At DEPOSITS AS RFPORTEO IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PPIMf BANKS APf THOSf WHOSE NECOTIABLF CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHlfM ARE PFPOPTfO PY DEALERS TO TRADt WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. N O T E — S t F TECHNIC AL APPENDIX B. TABLE C A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES I PER CENT) DATE TOTAL DEPOSITS 2/ 1 IN MILLIONS OF DOLLARS! SURVEY 29 J A N 1975 25 DEC 1974 24.9 25.7 2<.6 UNDER 200 16.2 16.4 15.7 200 - SOO 19.S 20.6 20.2 19.8 20.6 20.< 28.4 29.2 29.2 32.7 33.4 33.9 ALL BANKS ISSUING CD'S 0 - 1000 OVER 1000 PRIME IN NEW YORK 3/ 26 FEB 1 9 7 5 OF PRIME OUTSIDE NEW YORK 3/ 26.9 27.7 27.4 NONPPIME 22.6 23.6 23.0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE ISSUED °Y WEEKLY REPORTING BANKS. 2 / TOTAL DEPOSITS AS REPORTED IN IMF CALL REPORT OF CONDITION ON DECEMBER 31, 1964. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY nfALERS 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 5B RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 26 FEB 1975 (NUMBER OF BANKS 1 TOTAL DEPOSITS 2/ I IN MILLIONS OF DOLLARS! 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) ALL BANKS ISSUING CD'S 36 18 35 UNDER 200 10 9 20 17 12 15 16.2 200 - 500 16 6 6 13 13 26 19.5 500 ~ 1000 8 2 6 8 8 18 19.8 OVER 1000 2 1 3 6 9 16 28.4 PRIME IN NEW YORK 3/ 0 0 0 0 2 5 32.7 PRIME OUTSIDE NEW YORK 3/ 0 0 0 3 3 6 26.9 NONPRIME 2 1 3 3 4 5 22.6 44 42 75 24.9 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 THE DENOMINATOR CF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS, I I TABLE PER 5C C E N T C H A N G E IN 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 29 JAN 197< T O 26 FEB OF D E P O S I T /I 197F (NUMBER OF B A N K S ) DECLINES OF REDUCED CD'S TO ZERO TOTAL D E P O S I T S 2 / UN M I L L I O N * OF D O L L A R S 1 ALL BANKS CD'S 10% O R MORE ISSUING 52 5 TO 10* I N C R E A S E S OF 5* OR LESS <0 56 NO CHANGE "»% OR LESS * TO 10% 10% OR MORE ISSUED C D ' S B U T HAD N O N E O U T S T A N D ING ON B A S E D A T E &2 200 3 7 15 21 4 23 2 10 1 2 0 0 - 500 5 19 17 16 3 9 6 9 1 0 16 10 10 2 3 3 6 0 0 10 6 9 0 7 2 1 0 UNDER 500 OVER 1000 1000 PRIME IN N = W Y O R K 3/ PRIME OUTSIDE NEW YORK 3/ NONPRIME 1/ I N C L U D E S C E R T I F I C A T E S 2/ 0 2 2 1 0 2 0 0 0 0 4 3 2 0 2 0 1 0 0 4 3 6 0 3 2 0 0 IN D E N O M I N A T I O N S OF TOTAL DEPOSITS AS REPORTED IN T H E C A L L $ 1 0 0 , 0 0 0 OR M O R E R E P O R T OF C O N D I T I O N ISSUED BY W E E K L Y ON D E C E M B E R 31, REPORTING BANKS. 196*. 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 A R E 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 Q U A L I T Y A N D W H I C H ARE R E P O R T E D BV D E A L E R S T O 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 . NOTE- THE N U M B E R O F B A N K S IN T H I S T A B L E D I F F E R S FROM T H O S E IN MOST O T H E R T A B L E S TO T H E E X T E N T T H A T B A N K S T H A T H A D O U T S T A N D I N G C D ' S O N T H E L A S T S U R V E Y R E D U C E D THEIR O U T S T A N D I N G S TO Z E R O ON THIS S U R V E Y . TA9LF 50 PER CENT CHANGE IN OUTSTANDING 27 NOV NEGOTIABLE 1974 TO 26 TIME FEP CERTIFICATE OF DEPOSIT /I 197< INUMBER np BANKS) TOTAL DEPOSITS /2 UN MILLIONS OF DOLLARS) DECLINES OF REDUCED CD'S 2<T TO OR ZERO MORE 15 TO 20% 20 TO 25f 10 TO 15* INCREASE 5% 5 TO 10% LESS NO 5% S OR LESS TO CHANGE OR ALL BANKS ISSUING CD'S # 19 6 7 20 30 36 1 49 UNDER 200 3 7 3 3 6 12 7 0 9 10% 10 TO 15? OF 15 TO 20% 20 TO 25% OR MORE 25% ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 5 IP 19 16 8 16 12 7 5 7 4 8 2 16 F 9 2 3 5 1 1 4 3 0 2 1 ZOO - 500 5 8 2 2 4 10 1 *00 - 1000 0 4 1 2 6 6 11 0 OVER 1000 0 0 0 0 4 3 6 0 12 ? 1 4 1 1 1 0 0 0 0 1 1 7 0 1 0 1 1 ' 0 0 0 PRIME IN NEW YORK 3/ ° PRIME OUTSIDE NEW YORK 3 / 0 0 0 0 1 1 1 0 6 1 0 1 1 0 0 NCNPPIMf 0 0 0 0 2 I 5 0 5 1 0 2 0 1 1 1/ INCLUDES CERTIFICATES IN DENOMINATION* OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 196*. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH APE REPORTED BV DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET• NOTE- 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. 1 TABLE CHANGE IN 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 OVER THE MONTH AS A AT THE 29 PER BEGINNING JAN 1975 TO (NUMBER TOTAL DEPOSITS IIN M I L L I O N S OF 2/ DECLINES 3* DOLLARS 1 AND OVER ALL BANKS CD'S 5F OP CERTIFICATES CENT OF OF TOTAL THE 2 6 FEB OF 1975 1 BANKS) I N C R E A S E S OF 1 TO 3% 21 1/ PERIOD OF 2 TO DEPOSIT DEPOSITS 1% AND LESS NO CHANGE 1% AND LESS 1 TO 2% 2 TO 3% 3% AND OVER ISSUING 34 26 30 69 9 47 17 7 9 200 3 3 10 27 4 25 4 2 4 200 - 500 12 10 9 22 3 10 9 1 3 2 UNDER 500 ~ 1000 OVER 1000 PRIME IN N E W YORK PRIME OUTSIDE NEW 3/ YORK 3/ NONPRIME 1/ I N C L U D E S C E R T I F I C A T E S 6 9 8 11 2 5 3 2 11 4 3 9 0 7 1 2 0 2 2 0 1 0 1 1 0 0 4 2 1 2 0 2 0 1 0 5 0 2 6 0 4 0 1 0 IN D E N O M I N A T I O N S OF 2/ TOTAL DEPOSITS AS REPORTED IN T H E CALL * 1 0 0 , 0 0 0 OR REPORT OF MORE CONDITION ISSUED BY WEEKLY ON D E C E M B E R 31, REPORTING BANKS. 1965. 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 O F D E P O S I T A R E R E G A R D E D A S B E I N G OF T H E H I G H E S T D U A L I T Y A N D W H I C H ARE 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 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTE— D E P O S I T S IN T H E D E N O M I N A T O R O F T H E R A T I O INTERBANK AND U . S . GOVERNMENT DEPOSITS. IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING € TABLE 5F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT \/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 27 NOV 1974 TO 26 FEB 1975 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF COLLARS) ALL BANKS ISSUING CD'S DECLINES OF 5% AND OVER 4 TO 5% 3 TO 4% INCREASES 1 TO 2% 2 TO 3% IS AND LESS NO CHANGE IS AND UNDER 1 TO 2% 2 TO 3? OF 3 TO 4% 4 TO 5? 5% AND OVER 11 4 9 19 29 46 1 54 26 13 12 10 11 UNDER 200 3 1 3 A 9 IP 0 14 11 5 5 3 5 200 - 500 6 1 4 5 7 11 1 18 9 6 4 4 3 8 10 0 10 500 - 1000 2 2 2 7 3 2 2 0 1 OVER 1000 0 0 0 3 5 7 0 12 3 0 1 3 2 PRIME IN NEW YORK 3/ 0 0 0 1 1 2 0 1 0 0 0 2 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 1 1 1 0 5 2 0 1 1 0 NONPRIME 0 0 0 1 3 0 6 1 0 0 0 2 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, 196%. 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. TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 FEB 1975 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN 1975 FEB 27-FEB 28 MAR ALL DISTRICTS 5135.2 32727.6 BOSTON 302.1 NEW YORK PHILADELPHIA 1849.0 1670.2 12217.8 209.9 1212.1 CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 187.1 125.7 172.8 801.4 26.5 31.5 86.1 235.0 1106.1 1^31.8 936.9 1279.7 4357.6 421.4 242.3 763.1 1861.7 6233.0 APR 19290.5 887.2 7226.5 716.6 313.1 522.6 781.2 3338.3 211.0 150.4 375.8 898.4 3269.4 MAY 10168.0 456.2 4213.3 395.5 415.7 257.3 378.2 1405.5 124.1 77.4 198.7 419.5 1826.6 JUN 5395.9 240.1 2483.4 229.7 263.9 140.6 193.2 723.3 53.6 31.4 112.0 177.1 747.6 JUL 4306.5 192.8 1833.2 156.2 ?62.0 112.9 177.2 439.3 44.1 22.4 79.9 299.9 686.6 AUG 3565.6 209.9 1327.1 113.0 168.1 80.7 155.2 286.9 24.2 15.3 52.0 176.6 956.6 SEP 972.8 79.8 290.2 55.8 49.7 28.6 29.1 97.2 P3.1 4.3 26.9 59.7 228.4 111.6 327.5 50.0 85.3 16.3 50.1 158.3 13.3 11.8 15.8 53.3 200.9 NOV 831.2 63.6 233.9 62.3 16.0 26.7 118.4 7.0 3.8 25.1 26.3 232.7 DEC 578.6 32.4 174.8 35.6 27.5 18.3 24.2 42.6 16.7 3.7 9.1 34.5 159.2 1976 JAN 1474.3 58.2 494.0 54.8 32.4 14.7 32.4 424.0 13.8 22.6 16.3 58.7 252.6 FEB 1037.2 29.6 142.4 20.5 35.5 14.8 31.5 308.5 7.9 30.1 18.4 41.2 356.8 MAR OR LATER 1155.2 91.8 226.2 65.e 3?1.2 4.1 74.2 41.0 44.2 2.0 24.9 69.4 140.4 4405.6 2289.5 3405.7 1030.9 648.8 1804.1 3.0 1.9 2.3 2.3 2.6 2.5 2.1 2.2 2.4 IP 17 22 7 11 5 17 25 31 OCT TOTAL * 1094.2 87732.8 AVERAGE MATURITY IN MONTHS 2/ 2.3 NUMBER OF REPORTING BANKS 250 4425.5 33039.3 2.4 2.1 16 41 3330.9 2.3 10 12542.3 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B. • DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. 4 4 H . 3 16398.9 TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 FEB 1975 (AMOUNTS IN MILLIONS OF DOLLARS) ALL DISTRICTS BOSTON 11771.2 653.1 APR 6064.3 MAY 4954.2 JUN CD'S MATURING IN PHILADELPHIA CLEVELAND 4251.1 485.2 577.4 279.2 1986.7 257.9 162.5 2027.9 175.5 1876.3 46.3 997.4 JUL 922*5 27.5 321.8 AUG 2669.1 60.2 SEP 348.6 OCT NEW YORK RICHMOND ATLANTA SAN CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS FRANCISCO 195.4 77.0 339.4 762.4 2097.5 348.6 517.8 1466.1 257.3 140.2 208.1 1375.0 53.7 51.0 102.2 197.6 1155.4 194.3 103.8 176.6 750.4 66.6 21.7 97.3 234.6 943.0 30.3 53.3 50.2 48.1 286.7 1S.S 14.3 36.2 47.0 253.0 17.6 18.5 35.2 38.8 78.4 14.6 9.8 19.1 29.5 211.7 1052.5 43.0 100.2 71.6 117.1 220.3 19.6 9.4 31.8 133.7 809.7 17.9 139.3 6.2 3.6 14.6 14.0 53.2 3.6 2.5 5.4 22.4 65.9 246.4 14.8 30.6 *.1 19.9 6.9 18.0 61.3 1.6 2.3 2.3 2.8 80.8 NOV 341.3 10.7 50.9 2.5 11.1 11.1 9.2 41.0 3.6 1.7 13.7 7.2 178.6 DEC 191.6 5.8 28.8 3.4 7.2 7.7 0.1 11.2 4.6 1.4 1.1 4.9 115.6 1976 J A N 382.1 10.5 41.6 2.5 14.3 2.1 14.7 148.3 3.7 5.5 4.2 8.1 126.6 FEB 1227.6 75.7 264.7 18.5 22.0 9.9 28.1 309.4 4.5 29.6 15.2 44.3 405.7 1264.2 11193.3 1047.7 1279.1 802.1 1190.6 4801.3 386.8 226.2 667.9 1494.5 6443.5 2.4 1.0 2.1 2.3 2.4 2.9 2.0 3.4 2.0 2.1 3.3 1975 *AR OR LATER 30897.2 TOTAL * AVERAGE MATURITY IN M O N T H S 3 / 1/ S E E TECHNICAL APPENDIX 2.6 2.3 A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX B. * DETAILS 1AY 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 26 FEB 1975 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN 1975 1976 ALL DISTRICTS BOSTON 5.9 6.8 MAR 37.3 APR PHILADELPHIA CLEVELAND 5.6 6.3 4.2 5.5 5.1 37.7 37.0 36.5 34.P 40.9 22.0 20.0 21.9 21.3 20.7 MAY 11.6 10.3 12.8 11.9 9.4 JUN 6.2 5.4 7.1 6.9 JUL 4.9 4.4 5.5 4.7 AUG 4.1 4.7 4.0 3.4 SEP 1.1 1.8 0.9 1.6 OCT 1.2 2.5 1.0 NOV 0.9 1.4 0.7 DEC 0.7 0.7 0.5 JAN 1.7 1.3 1.5 FEB 1.2 0.7 0.4 MAR OR LATER 1.3 2.1 0.7 FEB 27-FEB 28 TOTAL * 100.0 100.0 NEW YORK 100.0 RICHMOND ATLANTA CHICAGO SAN ST. LOUTS MINNEAPOLIS 6.4 2.6 6.9 4.8 5.3 6.8 37.6 34.7 40.9 37.3 42.3 42.2 38.0 22.8 22.9 26.6 20.5 23.2 20.8 20.6 19.9 11.2 11.1 11.2 12.0 11.9 11.0 9.5 11.1 6.0 6.1 5.7 5.8 5.2 4.8 6.2 4.0 4.6 *.9 4.9 5.2 3.5 4.3 3.5 6.4 6.8 4.2 3.8 3.5 6.6 2.3 2.3 2.4 2.9 4.0 5.8 1.1 1.2 0.9 0.8 2.2 0.7 1.5 1.4 1.4 1.4 1.9 0.7 1.5 1.3 1.3 1.8 0.9 1.2 1.2 0.5 1.4 0.7 0.8 0.9 0.7 0.6 1.4 0.6 1.4 1.1 0.6 0.8 0.7 0.3 1.6 0.6 0.5 0.8 1.0 1.7 0.7 0.6 1.0 3.6 1.3 3.5 0.9 1.3 1.5 0.6 0.8 0.6 0.9 2.5 0.8 4. 6 1.0 0.9 2.2 2.0 8.4 0.2 2.2 0.3 4.3 0.3 1.4 1.6 0.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. KANSAS CITY DALLAS FRANCISCO TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 FEB 1975 (CUMULATIVE PERCENTAGE! CD'S MATURING IN ALL DISTRICTS BOSTON 5.9 6.8 MAR 43.2 APR PHILADELPHIA CLEVELAND 5.6 6.3 6.2 5.5 S.L 44.5 42.6 42.3 39.0 66.6 65.2 64.5 64.5 64.1 59.7 MAY 76.8 74.8 77.3 76.0 JUN 83.0 80.2 84.8 JUL 87.9 84.6 AUG 92.0 SEP NEW YORK RICHMOND ATLANTA CHICAGO SAN FRANCISCO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS 6.4 2.6 6.9 4.8 5.3 6.8 42.7 41. 1 43.5 42.2 47.1 47.5 44.8 69.2 65.6 67.7 64.0 65.4 67.9 67.9 64.7 69.1 80.4 76.7 78.9 76.0 77.3 78.9 77.4 75.8 82.9 75.1 86.5 82.4 84.7 81.2 82.1 85.1 81.4 80.4 90.3 87.6 P1.0 91.4 87.6 88.2 85.5 85.6 89.5 88.2 84.6 89.3 94.3 91.0 86.8 94.9 92.2 90.5 87.8 88.0 92.4 92.2 90.4 93.1 91.1 95.2 92.6 85.9 96.1 93.1 91.3 90.0 88.7 93.9 93.6 91.8 OCT 94.3 93.6 96.2 94.0 87.8 96.8 94.6 92.6 91.3 90.5 94.8 94.8 93.0 NOV 95.2 9«.0 96.9 96.5 89.2 97.5 9*.6 93.5 92.0 91.1 96.2 95.4 94.4 DEC 95.9 95.7 97.4 95.6 89.8 98.3 96.1 93.8 93.6 0 1976 JAN 97.6 97.0 98.9 97.3 90.5 98.9 97.1 97.2 96.9 95.2 98.8 97.7 99.3 97.9 91.3 99.5 98.0 99.7 95.7 99.8 98.6 98.4 99.1 100.0 100.0 100.0 100.0 100.0 10C.0 100.0 100.0 100.0 100.0 197$ FEB 27-FEB 28 FEB MAR OR LATER 100.0 100.0 100.0 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 1 .7 96.7 96.2 95.4 97.6 97.5 96.9 TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT <INCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 FEB 1975 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN 1975 ALL DISTRICTS BOSTON MAR 38.1 47.9 APR 19.6 20.5 PHILADELPHIA CLEVELAND 38.0 46.3 45.1 43.5 43.5 17.7 24.6 20.1 17.5 17.5 12.9 14.8 4.0 NEW YORK RICHMOND ATLANTA ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 30.5 50.5 34.0 50.8 51.0 32.6 28.6 13.9 22.5 15.3 13.2 17.9 15.6 17.2 9.6 14.6 15.7 14.6 6.0 4.0 6.3 5.4 3.1 3.9 CHICAGO MAY 16.0 11.9 18.1 16.8 15.2 JUN 6.1 3.4 8.9 2.9 4.2 6.3 JUL 2.7 2.0 2.9 1.7 1.4 4.4 3.3 1.6 3.8 A.3 2.9 2.0 3.3 AUG 8.6 4.4 9.4 4.1 7.8 8.9 9.8 4.6 5.1 4.2 4.8 8.9 12.6 SEP 1.1 1*3 1.2 0.6 0.3 1.8 1.2 1.1 0.9 1.1 0.8 1.5 1.0 OCT O.P 1.1 0.3 0.5 1.6 0.9 1.5 1.3 0.4 1.0 0.3 0.2 1.3 NOV 1.1 o.e 0.< 0.2 0.9 1.4 0.8 0.9 0.9 0.8 2.1 0.5 2.8 DEC 0.6 0.4 0.3 0.3 0.6 1.0 0.0 0.2 1.1 0.6 0.2 0.3 1.8 1.2 0.8 0.4 0.2 1.1 0.3 1.2 3.1 1.0 2.4 0.6 0.5 2.0 4.0 5.5 2.4 1.8 1.7 1.2 2.4 6.4 1.2 13.1 2.3 3.0 6.3 100.0 100.0 100.0 100.0 100.c 100.0 100.0 100.0 100.0 100.0 100.0 1976 JAN FEB OR LATER TOTAL * 1/ S E E T E C H N I C A L 100.0 100.0 APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. W TECHNICAL APPENDIX A W 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 1 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 sad the end of the calendar month in which the survey is taken. The weights arc the quantity of CD's maturing in each month or fraction thereof as a proportion of total CDJfs 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.