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Z 7 L.4.1 CONFIDENTIAL (FR) March 2, 1977 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE WEEKLY REPORTING BANKS as of January 26, 1977 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 O F O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T At WEEKLY REPORTING BANKS AS OF 26 JAN 1977 SALES SINCE P R E V I O U S M O N T H 2/ ( M I L L I O N S OF D O L L A R S ) CD'S MATURING IN AMOUNT ( M I L L I O N S OF DOLLARS) JANUARY 4,296.5 6.9 6.9 .0 FEBRUARY 17,974.0 28.9 35.8 7,752.0 MARCH 11,179.3 18.0 53.8 3,123.3 APRIL 8,672.9 14.0 67.8 3,169.1 MAY 5,012.5 8.1 75.9 515.1 82.7 601.7 87.8 1,869.1 27 - 31 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE JUNE 4,212.1 6.8 JULY 3,148.1 5.1 AUGUST 1,324.1 2.1 69.9 89.5 SEPTEMBER 921.6 1.5 91.4 82.4 OCTOBER 698.9 1.1 92.5 96.3 NOVEMBER 570.6 .9 93.4 16.8 DECEMBER 629.6 1.0 94.4 92.8 JANUARY 500.4 .8 95.2 402 .9 3,015.9 4.9 100.0 XXX 62.,158.6 100.0 XXX 17,811.1 OVFCR 12 M O N T H S TOTAL (MEMORANDUM: 661.0 1,397.5 869.5 M A R C H 10 M A R C H 15 APRIL 15 TAX AND D I V I D E N D M A T U R I T I E S ) 1.1 2.2 1.4 XXX XXX XXX 1/ INCLUDES 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 5 1 0 0 , 0 0 0 OR M O R E I S S U E D BY WEEKLY R E P O R T I N G B A N K S . U SEE 3/ S A L E S OF CD'S TECHNICAL A P P E N D I X A . M A T U R I N G AFTER 11 M O N T H S . 190.2 436.9 184.8 TABLE MATURITY O I S I h I B U T I O N O F O U T S T A N D I N G N E G O T I A B L E TIME CERTIFICATES N E W Y O R K C I T Y , C H I C A G O , A N D ALL O T H E R W E E K L Y R E P O R T I N G A S OF 26 MATJklNG 1977 JAN 197, 27 - JAN 1977 OF U O L L A R S ) ALL OTHER WEEKLY R E P O R T I N G AMOUNT SALES SINCE PREVIOUS MONTH 2/ SALES SINCE g # PREVIOUS MONTH 2 / ^ P 388.5 .0 2,378.9 .0 9,558.8 4,391.6 5,902.1 1,589.0 FEf*UAKY 6,^05.7 2,306.4 2,003.2 1,047.7 MA&CH 4,132.6 1,192.4 1,13b.2 335.4 APS n 3 »**83 . <> 1,175.5 857.6 238.5 4,320.2 1,743.6 2,341.9 2o7.2 MA V 2,335., 232.8 335.3 14.9 JUNE 1»e>24„fc 193.0 362.2 21.0 2,224.7 367.1 JULY 702.6 504.9 690.2 364.9 1,755.3 9 79.4 AUGUST 158.5 2.7 297.1 7.2 868.5 79.6 SEPTEMBER 161.5 32. t 57.2 16.0 701,9 32.8 PITCHER 121 .0 7.6 125.8 .7 452.1 £7.9 Nl, V E M b E h 204.0 9.c 8.9 .2 357.7 ft cE £ r r 72.0 1.7 2 3.6 517.2 i, \l,M& r h »> * KtkURTING /3 93.6 XXX 559.3 XXX 1•506.4 XXX 22 ,051.d 5,753.0 6,912.6 2,086.5 33,159.2 9,942.6 1 t. 1/ INCLJOfcS O N L Y O K T IF 1 C A T F S c, St t: T E C H N I C A L APPENDIX 3/ SALES MATURING sjf U D ' S DUt IN D E N O M I N A T I O N AHTTR II TAX MONTHS. KJUNDJ Nb. OF 45.0 204.6 118.2 $ 1 0 0 , 0 0 0 OR 290.3 /3 214 AND DIVIDEND MATURITIES) 36.4 182. 5 120.6 A. TC 273.5 12 253.7 480.5 198.2 MAPCr" IL M A k C r 15 s T T T A l S MAY NOT AbO 48.9 10 bANKb (MEMORANDUM: APKI L 16.4 /3 87.3 177.9 MONTHS Tul AL 4 0 . 947.7 JA\UA<Y BANKS h AMOUNT 2/ .0 1,524.4 31 JAN 1/ OF D E P O S I T AT BANKS CHICAGO SALES SINCE PREVIOUS MONTH AMOUNT IN i\ NEW 12 j < i (IN M I L L I O N S CD'S 2A MORE ISSUIO BY WEEKLY 38.8 49.9 362.3 712.1 349.0 12.6 REPORTING BANKS, 135.1 204.4 47.5 TABLE MATURITY DISTRIBUTION OF NEW YORK OUTSTANDING NEGOTIABLE CITY, CHICAGO, AND AS OF 26 JAN NEW DAYS 2/ 29 DEC REPORTING BANKS 1977 DISTRIBUTION) YORK CITY CHICAGO ALL OTHER 29 DEC 26 JAN 26 29 DEC JAN 29 DE( 6.9 3.5 5.6 2.2 7.2 4.7 MONTHS 29.0 31.4 19.0 37.2 28.8 37.3 MJNTHS 18.7 16.0 16.5 13.0 17.6 14.4 11.0 13.0 12.0 3/ 03 MONTHS is.e 12.9 12.4 C& MONTHS 10.6 10.2 4.9 8.5 7. 1 7.2 us MONTHS 7.4 9.3 5.2 4.4 6.7 5.8 Ow MONTHS 3.2 6.3 10.0 4.7 5.3 5.1 01 MONTHS .7 .9 4.3 4.2 2.6 2.2 OE MLNTN:, .7 .7 -B H.O 2.1 2.2 OS "ONTML .5 .6 .6 1 .4 1.9 iC Mi*NTHS .9 .5 1.7 1. 1 1.0 .3 .9 .1 1.6 1.0 .5 .8 1.2 TOTAI MONTHS .8 .3 4.3 4.5 100.0 • I N C L U D E S O N L Y GEKL 1 H C A T E S BANKS. N U M B T R OF FOLLOWING 2/ N J * O * M TOTALS vf 4AY 1 8.1 8.1 4.5 4.2 100.0 100.0 100.0 100.0 IN D E N O M I N A T I O N S OF N O I A U U DUE IHE SURVEY TO R O U N D I N G . 1 .7 L A Y S R E M A I N I N G IN S U R V T Y M U N T H . T H I S THE L A S T W E D N E S D A Y O F TH* M O N T H . MONTHS FOLLOWING .fa . o MUNTHS o c 12 • WEEKLY 1/ D E P O S I T AT 01 IVtC i2 2/ AND C E R T I F I C A T E S OF 02 1 i MT.NTHS 1/ OTHER TIME IN 26 JAN 0-6 ALL 1977 (PERCENTAGE IES M A T U R I N G 2B MONTH. 1 1 0 0 , 0 0 0 U K MORFC HTRLOO VARIES ISSUED WITH BY W E E K L Y THE NUMBER OF REPORTING DAYS TABLE 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTlAfiLfc TIME CERTIFICATES OF DEPOSIT AT NEW WORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF *6 JAN 1977 AND 29 DEC 1977 (CUMULATIVE DISTRIBUTION) CO»S MATURING IN 0-6 DAYS Zf NEW YORK CITY 26 JAN 29 DEC CHICAGO 26 JAN ALL OTHER 29 DEC 2.2 26 JAN 7.2 DEC 29 6.9 3.5 5.o 01 MONTHS 3/ 35.9 34.9 34. b 3 9 . 3 6 . 0 42.0 4.7 02 MONTHS 54.6 52.9 51.1 52.4 53.8 56.4 OJ MONTHS 70,4 65.8 63.> 63.4 66.B 68.4 04 MONTHS 81.0 76.0 68.4 71.9 73.9 75.6 05 MONTHS 88.4 85.3 73.6 76.3 80.6 81.4 06 MuNTHS 91.6 *1.6 83.6 8I.0 85.9 86.5 07 MONTHS 92.3 92.5 #7.9 85.2 88.5 88.7 08 MONTHS 93.0 93.2 88.7 89.2 90.6 90.9 09 MONTHS 93.5 93.8 90.5 89.8 92.0 92.8 10 MONTHS 94.4 94.3 90.6 91.5 93.1 93.8 11 MONTHS 94.7 95.2 91.2 91.6 94.7 94.8 12 MONTHS 95.5 95.5 91.9 92.1 95.5 96.0 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 MONTHS 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF S100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS* 2/ NUM6E* OF OAVS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 26 JAN 1977 IAMOUNTS IN MILLIONS OF DOLLARS) SAtilE aA $5 B I L L I O N $1 BILLION TO *5 bILLION $500 MILLION AND UNDER $500 MILLION TO $1 BILL ION 4,296.6 241.4 403.5 1,264.1 FE&RUAKY 17,97*.: 935.7 1,793.6 *A%(W 11*179.4 537.0 6#673.0 5,012.5 JUNE 4,212.2 161.2 JUttr 3,146.0 1*4.0 AUUUST 1,3*4.1 59.3 SIPUMfefcfc 921.5 OCICeER 698.9 Cf *S MATURING IN 1 W ? JAM 2 7-31 APRIL DtCfMBft 1976 JANUARY FEERUARV OK LATER TOTAL + Till AL AND O V E R NEW YORK CITY OUTSIDE NEW YORK CITY 2,389, 1,457.3 932.3 5,400.1 9,844, 5,812.9 4.031.6 1,079.3 3,231.6 6,331, 3.825.8 2.505.7 391.1 835.6 2,374.3 5 ,072 1 3.239.3 1,832.7 194.O 348.8 1,124.1 3,345, 2.263.9 1.081.7 311.2 954.6 2,785, 1.554.4 1,230.6 243.6 1,023.1 1,736, 613.1 1,123.6 117.0 342.7 805. 149.5 655.6 76.3 93.0 J90.9 361. 130.8 230.5 34.5 62.5 267.0 334, 113.6 221.3 >70.7 26.0 73. 1 195. 7 270. 203.5 67.4 629.5 26.3 61.7 209.0 332. 56.9 273.6 >00.4 23.7 34.5 166.8 275. 175.5 99.9 3,015.9 64.6 69.2 597.2 2,264.9 937.1 1.327.8 2,915.7 5,551.8 17,541.4 36,149.9 20,535.6 15,614.3 ok,156.8 — <MEMORANDUMS TAX AND DIVIDEND MATURITIES) MAkL# 10 661.0 19.3 24.9 186.9 429.9 206.7 223.2 MARCH 15 1,3*7.6 39.3 66.6 440,8 850.9 416.6 434.3 APR It $t> 669.4 22.9 26.7 292.7 525.1 292.7 232.4 — 236 IMEMORANDUM$ 75 NUHBLR OF BANKS) 62 82 17 1/ IfClilDlS CERTIFICATES IN DENOMINATIONS Of $100,000 OR HOkfc ISSUEj BY WEEKLY REPORTING BANKS. // TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. * TOTALS MAY NJT AOtl DUE TO ROUNDING. 10 TABLE S A L E S / ! / O F N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T S I N C E P R E V I O U S M O N T H AT W E E K L Y R E P O R T I N G B A N K S B Y SIZE OF B A N K S 3 / A S OF 2 6 J A N 1 9 7 7 ( A M O U N T S IN M I L L I O N S OF D O L L A R S ) 16 2/ $5 BILLION AND OVER S500 CD'S MATURING 1% 1977 JAN 1LTAL MILLION AND UNDER $500 MILLION TO SI B I L L I O N 439.8 974.0 2,563.2 SI BILLION TO S5 BILLION NEW YORK CITY OUTSIDE NEW YORK CITY 3,775.1 1,958.0 1,817.1 TOTAL 2 7-31 FEBRUARY 7,752.1 MARCH 3,1*3.3 164.1 328.8 1,041.9 1,568.5 1,090.8 477.7 APRIL 3,169.2 235.1 385.3 963.3 1,585.5 1,088.3 497.2 M5.0 34.2 76.6 155.8 248.4 208.9 39.5 MAY JUNE S02.0 32.U 48.0 166.7 355.3 184.6 170.7 JULY 1,864.1 80.4 121.1 663.6 1,003.5 432.9 570.6 14.1 AUGUST o9.6 16.6 V7.4 16.5 2.a SEPTEMBER b2.4 4.7 9.1 21.5 47.1 25.4 21.7 OCTUot* 96.* 3.7 9.9 37.8 45.0 4.7 40.3 fc.V NGVfcMBER 16.8 1.0 1.2 2.5 12.1 9.8 2.3 DECE^bi" 92.7 5.* 17.5 45.7 24.1 1.6 22.5 *02.9 23.4 2 7.3 197.4 154.8 92.8 62.0 17,nil.5 1,053.2 2,015.6 5,906.8 8,835.9 5,100.2 3,735.7 l*7fc JANUARY Qk L&TER TOTAL » (MEMORANDUM: TAX AND DIVIDEND MATURITIES) 10 190.3 3.0 74.1 109.3 15.6 93.7 MARlf 15 4 3 6 . 9 9.3 20.8 63.1 323.7 169. 1 154. t> APRlL 15 1*4.7 13.8 14.7 67.8 88.4 106.5 2)6 75 MARCH 3.9 (MEMORANDUM: NUMBER OF BANKS) 62 82 17 1/ Sic TECHNICAL APPENDIX A. 1/ INCluL'cS CERTIFICATES IN DENOMINATIONS UF *100,000 OR MOKE ISSUED BY WEEKLY REPORTING BANKS. 3/ TOTAL ASSETS AS REPUdTiU IN Tut CALL REPORT UF CONDITION ON JUNE 30, 1975. » T O T A C ; MAY NL1 Abb DUE T ) ROUNLLNU. 18.1 — 10 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 26 JAN 1977 PERCENTAGE DISTRIBUTION TAfcLE 3C $5 BILLION AND OVER CD'S MATURING IN TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 BILLION $1 BILLION TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 6.9 8.3 7.3 7.2 6.6 7.1 6.0 F E3RUARY 2d.9 32.1 32.3 30.8 27.2 28.3 25.8 MARCH 16.0 16.4 19.4 lb.4 17.5 18.6 16.0 APRIL 14?? JAN 27-31 14.0 13.4 15.1 13.5 14.0 15.& 11.7 MAY 6.1 6.7 6.3 6.4 9.3 11.0 6.9 JUNE 6.8 5.5 5.6 5.4 7.7 7.6 7.9 JULY 5.1 5.0 4.4 5.8 4.8 3.0 7.2 AUGUST 2.1 2.0 2.1 2.0 2.2 0.7 4.2 SEPTEMBER 1.5 2.6 1.7 2.2 1.0 0.6 1.5 DCTUbEn 1.1 1.2 1.1 1.5 0.9 0.6 1.4 NOVkMbfcR 0.9 0.9 1.4 1.1 0.7 1,0 0.4 DECEMBER 1^78 vANUAHY FtbRUAK Ok LATER TOTAL » 1.0 0.9 1.1 1.2 0.9 u.3 l.ti 0.8 O.a 0.6 1.0 0.8 0.9 0.6 <•. V 2.2 1.6 3-4 6.3 4.6 8.5 100.0 100.0 104.0 100.0 100.0 100.0 ,U0.0 (MEMORANDUM: MARCH 10 II MARCH 15 2.2 APRIL !> 1-* 0.7 TAX AND DIVIDEND MATURITIES) 0.4 1.1 1.2 1.0 1.4 1.3 1.2 2.5 2.4 2.0 2.6 0.8 0.5 1.7 1.5 1.4 1.5 1/ INC lULlS CERTIFICATES IN DENOMINATIONS Of $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. * TOTALS MAY NOT ADD 0U1 TlJ kLUNOlNG. TABLE JO MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIIE OF BANKS 2/ AS OF 26 JAN 1977 CUMULATIVE PERCENTAGE $5 BILLION AND OVER CD'S MATURING IN TOTAL S50D MILLION AND UNDER *500 MILLION TO SI BILLION $1 BILLION TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 6.9 6.3 7.3 7.2 6.6 7.1 6.0 FEBRUARY 45.8 40.4 39.6 38.0 33.8 35.4 31.6 MARCH 53.ti 58.8 59.0 56.4 51.3 54.0 47.8 69.9 65.3 69.8 59.5 76.3 74.6 80.8 66.4 JAN 27-31 APRIL 67.8 72.2 74.1 MAY 75.9 78.9 80.4 JUNE 82.7 *4.4 86.0 61.7 62.3 88.4 74.3 JULY 67.8 89.4 90.4 67.5 87.1 91.4 81.5 AUGUST 69.9 91.4 92.5 69.5 89.3 92.1 85.7 SEPTEMBER 91.4 94.0 94.2 91.7 90.3 92.7 87.2 OCTOBER 92.5 95.2 95.3 93.2 91.2 93.3 88.6 NOVEMBER 93.4 96.1 96.7 94.3 91.9 94.3 89.0 DECEMBER 94.4 97.0 97.8 95.5 92.8 94.6 90.8 JANUARY 95.2 97.8 98.4 96.5 93.6 95.5 91.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 FEBRUARY OR LATER 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. * TOTALS MAY NOT ADD DUE TO ROUNDING. SALES /I/ OF NEGOTIABLE TINE CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 26 JAN 1977 PERCENTAGE DISTRIBUTION TABLE it $5 BILLION AND OVER CD'S NAIUnlNG IN #Y77 JA»w 10TAL $500 NILwION AND UNDER $500 MILLION TO SI BILLION SI BILLION TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 47-3: *3.» 41.8 48.3 43.4 42.7 38.4 46.6 17.5 17.5 16.3 17.6 17.8 21.4 12.8 17.8 *2.3 19.1 16.3 17.9 21.3 13.3 MAY d .9 3.2 3.6 4.1 1.1 3.4 3.0 2.4 2.6 2.8 2.8 JUNE 4.0 3.6 4.6 JULY 1(1.> 7.7 6.0 11-2 11.4 6.5 15.3 O.b 0.2 0.0 0.4 0.4 0.5 0.5 0.6 FEBRUARY APRIL AUGUST 0.5 0.6 0.8 SEPTEMBER 0.5 0.4 0.5 OCTOBER 0.5 0.4 0.5 0.6 0.5 0.1 1.1 NOvFweia 0.1 0.1 0. 1 0.1 0.2 0. 1 DECEMBER 0.5 0.5 0.9 0.0 0.6 0.3 0.0 0.6 191* JANUARY Ok LATER TOTAL * a.3 2.2 1.4 3.3 1.8 1.8 1.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 — (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 I.i 0.3 0.2 1.3 1.2 0.3 2.5 warCM 16 2.5 0.9 1.0 1.4 3.7 3.3 4.1 APRIL lb 1.0 1.3 1.1 1.0 2.1 0.5- 0.7 (MEMORANDUM: 236 1/ 2/ 3/ * 75 62 NUMBER OF BANKS) 82 17 SEE TECHNICAL APPENDIX A* lfCLUOcS CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL ASSETS AS REPORTED IN THt CALL REPORT OF CONDITION ON JUNE 30, 1975. * 3T AtS MAY NOT ADD OUE TU ROUNDING. 10 7ABLE 4A AVERAGE MATURITY OF OUTSlANOlNG NEGOTIABLE T H e CERTIFICATES OF DEPOSIT 1/ AT WEEKLY RtPOnTlNG bANKS AT VARIOUS SuRVEY OATtS (IN MONTHS> D A T E OF 26 JAN 1977 SURVEY 29 DEC 1*76 24 NOV 1976 IOY L O C A T I O N ! ALL Nt* VLhK PORTING BANKS 15SUING cc'S 3.0 a s 3.0 C11v 2.6 2*8 2.7 3.5 3.3 3.7 4 \.* 1 v A G U . $ . I 2.9 3.1 IbY SIZE O c bANK) 2/ j%. : k $ > O G « I L L W N <. / 2. t !U ; .9 2.7 2.8 3.2 3.1 3.2 "luluf. / . C. uvc * ! t M ] f If «If fli A: f, *$* C •*» 2.6 V"i.i-li,uuo *11L1 ON i VI - ss nILLI UN / 2.5 2.6 IN M w YLkk CITY 2.e 2.9 2.6 UJTSlwt New YORK CITY 3.7 3.4 3.8 IN U I W ' H L N A I M N S Of * 1 0 0 , 0 0 0 UR tut LA#i At PORT Of MORE I S S U E D BY W L E K L Y R E P O R T I N G UN J'lh, 30, 197S. BANKS. TABLE 4B AVERAGE MATURITY 3F NEGOTIABLE SOLO TIME iY CERTIFICATES WEEKLY DURING T H E OF RTPORTING M O N T H OF DEPOSIT 1/ BANKS VARIOUS SURVEYS I IN NJNTRTS) OA I E <6 JAN 197? 29 OF DEC SURVEY 197b 2 4 NOV 1976 IBY LOCATION) AIL krfriMllhG BANKS .t # YUkk lS'.UlN* CD'S 2 .«• 2.5 2.7 U 1 V 2.* 3.1 2.6 <.2 2.1 2.1 2.5 2.2 2.7 t?* k IbY ->%» » 6 % ^ * I U 2• 4 If**# mIII * l»aX*0 "IlllUN 2.* ^.1 2.2 -i*,eey -Kilo* 2.* 2. 1 2.4 2.4 2.6 3.0 3.2 2.9 2 . 4 2.3 3.0 S5 * *; *+ 2.3 * ntii!(UN l»« H i le , Vl; Jl Y4j*K Nt m t i l t vn#f* IN O E N U N I N A T I O N S U# - ^ •O s e *.!/|> e OF BANK) 2/ !% &* $. ** 1**1 t i l l L i t * $100,000 W * | KIR 1 CH MUAE L O N b l T ICJN ISSUED DY W E E K L Y H I P O R T I N G B A N K S . LN JUNE 30, 1975. TABLE 5A MAT 10 OF OUTSTANDING NEGOTIABLE I W E CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT I DATE Of SURVEY TOTAL ASSETS 2/ I IN MILLIONS Of DOLLARS) 2b JAN 1977 29 DEC 1976 24 NOV 197b 17.0 17.3 17.4 UNOfcR 500 12.0 12.8 13.6 500 - 1000 13.9 13.9 14.1 1000 - 5000 13.6 13.7 14.2 ALL BANKS ISSUiNt, CD'S 20.8 21.2 21.0 IN NEW YORK CITY 25.1 24.4 25.0 UUTSlOt NEW YORK CITY 16.9 18.4 17.4 OVtH >000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MURE ISSUED BY WEEKLY REPORTING BANKS. */ TOTAL N01E- ASSETS AS itEPURTfcU IN THE CALL REPORT OF CONDITION uN JUNE 30, 1975. DEPOSITS IN THt DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK ANU U.S. GOVERNMENT DEPOSITS. TABLE SB RAT Ill OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL D E P O S I T S AS OF 26 JAN 1977 (NUMBLR OF bANKS) TOTAL ASStlS 2/ CIN MILLIONS Of D O L L A R S ) ALL B A N K S ISSUING t>* OR LESS 5 1U TO 10% TO 15% 15 TO 20% *0 TO 2 5% 2 5% OR MORE AVERAGE CD TO DEPOSIT RATIO (PER C E N T ) CD'S 48 52 3d *2 27 29 17.0 UNDER 500 14 22 14 12 7 12.6 13.9 500 - 1000 17 11 10 9 6 1000 - 5000 17 15 13 19 12 13.6 0 4 1 2 20.8 OVER 5000 IN NEW YORK CITY 0 1 0 2 25. 1 OUTSIDE NEW YORK CITY 0 3 1 0 16.9 1/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ T O T A L NOTE- ASSETS AS REPORTED IN THE CALL REPORT CF CONDITION ON J U N E 3 0 , 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL D E M A N D AND TIME DEPOSITS, I N C L U D I N G INTERBANK AND U.S. G O V E R N M E N T D E P O S I T S . TABLE 5C PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 29 DEC 1976 TO 26 JAN 1977 INUMBER OF BANKS) TOTAL ASSETS 2/ (IN MILLIONS OF DOLLARS) REDUCED CD'S TO ZERO DECLINES OF 10% OR MORE ALL BANKS ISSUING CD'S 5 TO 10% I N C R E A S E S OF 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10? OR MORE 56 41 55 31 16 13 8 13 14 31 UNDER 500 1 17 500 - 1000 0 17 8 16 4 9 1000 - 5000 1 19 14 21 14 8 3 5 5 3 1 1 2 2 4 0 OVER 5 000 0 IN NEW YORK CITY O OUTSIDE NEW YORK CITY 0 3 i l 2 ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 1 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORfc ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. 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 LAST SURVEY REDUCED THEIR OUTSTANDINGS 10 ZERO ON THIS SURVEY. TABLE 50 PER LtNT CHANGE IN OUTSTANDING NkGUT1 ABLE TIME CERTIFICATE OF D E P O S I T /I 2 7 OCT 1976 TO 26 JAN 1977 (NUMBER OF B A N K S ) KEOV- TtilA s. DEPOSIT^ /2 #1% MIL IUMS OF COLLARS) AIL 6ANK* CD'S DECLINES OF CD • S 2 5 * TO CK ZERU MORE 20 TO 2 5* 10 15 TO 20% TC 15% INCREASE OF 5 NO 5% OR TO 10% LtiS 25 23 32 25% ISSUED CD'S BUT HAD NONE OUT STANDING ON BASE DATE 5% OR LESS 5 TO 10% 3 26 16 7 8 4 21 1 CHANGE 10 TO 15% 15 TO 20% 20 TO OR MORE 25% ISSUING 2 36 18 14 UNOcR 5 0 0 1 14 7 4 8 10 8 2 4 5 1 3 2 6 1 *>00 — 10 00 0 11 7 2 8 6 H 0 5 4 2 2 0 7 0 1000 - 5000 1 13 3 8 7 14 1 f. 7 4 2 1 6 0 UVEK 0 0 L 2 1 0 2 0 9 0 0 1 1 0 0 ij 0 0 0 1 0 0 0 4 0 0 1 1 0 0 0 0 I 2 0 0 2 0 5 0 0 0 0 0 0 5000 1% UkM YORK CITY UUlS i n N E W YORK LlTY 1/ INCLUDES Li RTLH 1CATE S IN OENOMINAT IONS OF $100,000 UR MORE , / TOTAL V I t" &SSI TS AS "iPORItU ISSUED BY WEEKLY REPORTING BANKS IN THE CALL REPORT OF CONDITION uN JUNE 30, 1975 - THfc 'i/lttK t B A N K S IN 1HIS TABLE DIFFERS FROM THOSE IN MOST OTHER IABLES TO THE EXTENT THAT BANKS THAT HAD JUT I, T ANoING rO*> UN THE SURVEY THREE MONTHS PRIOR TU THfc CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TL efcRO• TABLE SB CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 29 DEC 1976 TO 26 JAN 1977 (NUMBER OF BANKS) 11* MILLIONS OF UOLLARS! ALL BANKS ISSUING CD'S INCREASES OF DECLINES OF TOTAL ASSETS 2/ 31 AND OVER It AND 1 TO 21 k TO 3t LESS NO CHANGE 2 TO 3% 3% AND OVER 20 13 7 3 3 3 8 5 2 3 2 17 7 0 2 4 0 5 1 0 0 2 2 0 1 1 0 0 1 2 0 4 0 0 0 14 37 67 UNDER 500 2 8 13 Jc3 2 500 * 1000 2 4 5 30 1000 - 5000 7 1 16 30 OVER 5000 3 1 3 0 1 3 0 IN NEW YORK CI1V 1 TO 2% 43 14 OUTSlOt NEW YORK CITY It AND LESS 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL NOTfc- ASSETS AS MEPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 5F C M A N & I IN O U T S T A N D I N G N E G O T I A B L E T I N E OVER T H E LAST T H R E E M O N T H S AS A T T H E B E G I N N I N G OF 2 7 OCT 1 9 7 6 TO 2 6 (NUMBER OF TOTAL 51 AND DEPOSIT 1/ DEPOSITS THE PERIOD JAN 1977 BANKS) ISSUING SCO *00 - 1000 1 TO TO 10 41 TO SS I N C R E A S E S OF a 3 % OVER UNDER C E N T OF T O T A L DECLINES OF ASSETS 2/ IIN MILLIONS U» DOLLARS# ILL B A N K S CO*S C E R T I F I C A T E S OF A PER 21 3* 1% AND NO CHANGE LESS It AND UNDER 1 TO 2* 3 TO 2 TO 3% 4 TO 4% ht AND OVER 9 s 14 32 42 *6 3 39 19 8 4 4 9 6 1 5 15 11 12 2 13 2 2 1 0 4 I 3 3 9 15 11 0 6 7 2 0 2 3 1000 - *000 2 2 S 5 16 21 1 13 7 4 3 2 1 OVER 0 0 I 3 0 2 0 7 3 0 0 0 1 IN N E W Y O R K C U V 0 0 1 0 0 0 0 3 2 0 0 0 1 O U T S I D E N E W YORK C I T Y 0 0 0 3 0 2 0 4 1 0 0 0 0 SCOO 1/ I N C L U D E S C E R T I F I C A T E S 2 / TOTAL NOTE- ASSETS I N D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 O R M O R E AS REPORTED IN THE CALL R E P O R T O F D E P O S I T S I N T H E D E N O M I N A T O R O F THE R A T I O I N INTERBANK A N D U . S . GOVERNMENT D E P O S I T S . ISSUED BY WEEKLY CONDITION ON JUNE 30, THIS TABLE ARE TOTAL REPORTING BANKS. 1975. D E M A N D AND TIME DEPOSITS, INCLUDING T A B L E 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME AT WEEKLY REPORTING BANKS BY FEDERAL R E S E R V E DISTRICT A S OF 26 JAN C E R T I F I C A T E S OF D E P O S I T 1/ 197? ( A M O U N T S IN M I L L I O N S O F D O L L A R S ) CD'S M A T U R I N G IN 1977 JAN 27-JAN 31 ALL DISTRICTS BOSTON 4292*3 149.7 NEW YORK RICHATLANTA MOND CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY SAN J FRAN- i CISCO ^ PHILADELPHIA CLEVELAND 151.0 181.7 129.3 232.0 523.4 44.9 23.9 99.8 342.9 759.9 704.8 2603.9 209.5 168.4 544.1 1388.6 2521.2 120.2 314.0 656. 7 1564.6 1653.8 DALLAS FEB 17967,7 721.3 6966.8 769.5 782.6 567.0 MAR 11172.9 444.0 4381.7 486.7 600.0 297.6 506.1 1623.0 178.3 APR 6661*5 292.6 3613.6 319.8 530.0 255.2 332.6 1303.3 101.9 65.4 199.8 626.7 1020.6 326.2 161.2 161.3 455.9 65.9 23.4 107.0 235.8 680.0 559.6 66. I 29.4 90.6 165.7 817.5 MAY 3012.3 166.0 2429.3 200.3 JUN *241.6 76.1 1721.0 161.2 239.4 139.4 123.6 JUL 3148-1 166.4 745.8 123.5 209.4 116.6 163.6 772.5 33.8 32.2 83.1 271.6 427.6 39.3 131.4 35.6 70.8 327.5 15.2 19.3 39.7 119.2 329.7 48.5 113.5 47.6 19.6 23.3 92.6 173.7 111.2 AUG 1323.9 26.6 169.4 SEP 920.7 27.9 205.7 *5.1 96.8 26.4 OCT 699.0 28.3 134.0 44.1 50.9 IV.4 57.3 146.7 12.1 11.9 14.8 68.3 36.5 11.2 51.2 24.6 3.8 20.8 19.4 51.3 30.3 53.6 10.1 28.3 23.2 60.5 NOV 670.7 25.0 210.4 30.3 DEC 629.3 33.0 66.3 23.8 33.2 18.4 1978 JAN 500.3 36.5 179.3 18.9 12.4 12.1 18.to 59.7 2.9 19.7 20.2 21.7 98.3 120.5 958.7 102.4 335.6 31.9 50.9 579.9 23.9 26.7 39.3 129.8 614.0 2317.9 23475.8 2535.9 3568.1 1621.5 2551.6 9147.1 816.0 609.2 1618.3 *231.4 9431.1 F F 6 OR LATER TOTAL * 3013.6 62123.9 84.2^ 228.6 AVERAGE MATURITY IN M O N T H S 2 / 3.0 3.0 2.7 2.9 3.8 2.6 2.8 3.2 3.0 3.8 2.7 2.8 3.4 NUMBTP BANKS 23* 16 36 10 15 19 22 36 11 5 16 22 28 UF REPORTING 1/ I N C L U D E S ONLY C E R T I F I C A T E S I S S U E D £ / SEE TECHNICAL IN D F C N O M L N A ? I O N S OF APPENDIX B. $ utTAILS MAY HOT ADD TO TOTALS DUE TO ROUNDING. S100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 66 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 JAN 1977 iAMOUNTS IN MILLIONS OF DOLLARS) ALL DISTRICTS BOSTON 7745.7 393.8 MAR 3116.8 176.4 1301.3 182.0 APR 3157.8 141.9 1247.8 133.6 MAY 515.0 25.4 253.8 38.4 36.6 CD'S MATURING IN FEB NEW YORK PHILADELPHIA CLEVELAND 371.6 367.6 2659.9 RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 86.9 56.1 304.3 750.3 985.3 214.4 278.8 1256.7 154.3 75.2 137.4 485.5 46.9 37.6 95.6 198.3 226.1 160.1 112.2 150.8 411.7 46.1 34.7 102.5 316.8 279.61 23.5 14.2 42.9 5.8 1.4 17.5 26. 6 28.9 JUN 601.1 16.3 204.4 9.3 48.5 21.2 10.6 92.5 5.4 1.0 24.5 28.1 139.3 JUL 1669.2 128.6 533.6 67.3 79.8 90.4 100.8 436.4 16.8 28.2 34.0 126.6 226.7 AUG 69.5 0.1 3.0 1.4 4.0 9.6 22.6 9.3 6.7 0.0 4.7 21.2 6.9 SEP 61.6 2.4 34.1 4.3 3.9 0.7 2.7 22.3 1.0 1.5 1.5 2.9 4.3 DC T 96.3 9.1 9.1 1.5 5.8 5. 3 13.9 4.2 2.0 1.1 0.1 7.5 36.7 NOV 17.5 0.0 9.9 0.7 1.3 0.1 0.5 0.9 0.0 0.0 1.1 0. 1 DIC jfih OR LATER TOTAL » 92.7 6.2 4.5 2.9 13.2 13. 1 5.4 4.9 0.0 0.0 4.3 22.6 94.9 10.6 13.3 7.7 19.0 26.4 3.9 27.2 14.2 74.6 86.0 17763.6 922.8 6356.3 823.6 928.4 573.4 756.7 2793.7 221.5 188.8 604.5 1569.5 2044.4 2.3 2.4 2.1 2.0 2.3 2.8 2.7 2.3 2.3 3.7 2.1 2.4 2.6 AVERAGE MATURITY IN MONTHS 3/ 1/ SEE TECHNICAL APPENDIX A. 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. 2.9 400.4 16.5 1 21.7 i T A B L E 6C M A T U R I T Y D I S T R I B U T I O N O F O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T AT WEEKLY REPORTING BANKS BY F E D E R A L R E S E R V E D I S T R I C T 1/ A S O F 2 6 JAN 1 9 7 7 1 9 7 7 J A N 27 -JAN 31 ALL DISTRICTS BOSTON 6.9 6.5 NEW YORK 7.0 PHILADELPHIA CLEVELAND 6.0 5.1 RICHMOND ATLANTA 7.1 9. 1 CHICAGO 5.7 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS 5.5 3.9 6.2 8.1 6. 1 £55 O 1 C D ' S M A T U R I N G IN 1 1 I I (PERCENTAGE DISTRIBUTION) FEB 28.9 31.1 29.* 30.3 21.9 31.1 27.6 28.5 25.7 27.6 33.6 32.6 26.7 MAR 18.0 19.2 18.7 19.2 16.8 16.3 19.8 17.7 21.9 19.7 19.4 15.5 16.6 APR 13.9 12.6 15.4 12.6 14.9 14.0 13.0 14.2 12.5 10.7 12.3 14.8 10.8 7.2 MAY B.L 7.2 10.3 7.9 9.1 8.8 6.3 5.0 8.1 3.8 6.6 5.6 JUN 6.8 3.4 7.3 7.1 6.7 7.7 4.8 6.1 8.1 4.8 5.6 3.9 6.7 JUL 5.1 7.3 3.2 4.9 5.9 6.4 6.4 8.4 4.1 5.3 5.1 6.4 4.5 AUG 2.1 1.1 0.7 1.5 3.7 2.0 2.8 3.6 1.9 3.2 2.5 2.8 3.5 SEP 1.5 1.2 0.9 1.8 2.7 1.4 1.9 1.2 5.8 3.2 1.4 2.2 1.8 OCT 1.1 1.2 0.6 1.7 1.4 1.1 2.2 1.6 1.5 2.0 0.9 1.6 NOV 0.9 L.L 0.9 1.2 1.1 0.6 2.0 0.3 0.5 3.4 1.2 1.2 0.9 1 DEC 1.0 1.4 0.4 0.9 0.9 1.0 1.2 0.6 1.2 4.6 1.4 1.4 2.4 1478 JAN 0.8 1.6 0.8 0.7 0.3 0.7 0.7 0.7 0.4 3.2 1.2 0.5 1.0 1.8 2.0 6. 3 2.9 4.4 2.4 3.1 6.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 FEB OR LATER TOTAL $ 4.9 5.2 4.1 4.0 9.4 100.0 100.0 100.0 100.0 100.0 1 / I N C L U D E S O N L Y C E R T I F I C A T E S I S S U E D IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 O R M O R E B Y W E E K L Y R E P O R T I N G B A N K S . 1,2 M TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 JAN 1977 CCUMULATIVE PERCENTAGE) ALL DISTRICTS BOSTON 6*9 6.5 FEB 35.8 MAR 53.8 APR 67.7 CD'S MATURING IN 1977 JAN 27-JAN 31 SAN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS CISCO 5.7 5.5 3.9 6.2 8.1 8.1 36.7 34.2 31.2 31.5 39.8 40.9 34.8 56.5 51.9 53.1 51.2 59.2 56. 4 51.4 68.5 69.5 66. 1 65.6 61.9 71.5 71.2 62.2 77.3 75.8 71. I 73.7 65.7 78. 2 76.8 69.4 85.0 80.6 77.2 81.8 70.5 83.7 80.7 78.1 RICHMOND ATLANTA PHILADELPHIA CLEVELAND 7.0 6.0 5.1 37.6 36.8 36.3 27.0 38.2 56.8 55.5 55.5 43.8 54.5 69.4 70.9 68. 1 58.7 NEW YORK 7.1 9. 1 CHICAGO FRAN- MAY 75.e 76.6 81.2 76.0 67.8 JUN 82.6 80.0 88.5 83.1 74.5 JUL 87.7 87.3 91.7 86.0 80.4 91.4 87.0 85.6 85.9 75.8 88.8 87.1 82.6 89.5 84.1 93.4 89.8 89.2 87.8 79.0 91.3 89.9 86.1 93.6 82.2 92.7 92.1 87.9 AUG 89.8 88.4 92.4 SEP 91.3 89.6 93.3 91.3 86.8 94. b 91.7 90.4 OCT 92.4 90.8 93.9 93.0 88.2 95.9 93.9 92.0 95.1 84.2 93.6 93.7 89.1 94.2 89.3 96.5 95.9 92.3 95.6 87.6 94.8 94.9 90.0 95.1 90.2 97.5 97.1 92.9 96.8 92.2 96.2 96.3 92.4 NOV 93.3 91.9 94.8 DEC 94.3 93.3 95.2 1978 JAN 95.1 94.9 96.0 95.8 90.5 98.2 97.8 93.6 97.2 95.4 97.4 96.8 93.4 FEB 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 OR LATER 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 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 26 JAN 1977 (PERCENTAGE DISTRIBUTION) MATURING IN . ALL 01STR1CTS BOSTON *=E8 43.6 42.7 MAR 17.5 19.1 APR 17.6 MAY JUh JUL 10.5 NEW YORK PHILADELPHIA CLEVELAND 41.6 45.1 41.7 37.4 36.8 45.0 20.5 22.1 16.6 13.1 18.2 17.4 21.2 19.9 15.4 19.6 16.2 19.4 19.b 19.9 14.7 20.8 18.4 2.9 2.8 4.0 4.7 3.9 4.1 1.9 1.5 2.6 0.7 3.4 1.8 3.2 1.1 5.2 3.7 1.4 3.3 2.4 0.5 13.9 6.4 8.2 8.6 15.8 13.3 15.6 7.6 14.9 RICHMOND ATLANTA CHICAGO SAN , FRANCISCO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS 39.2 29.7 50.3 47.8 48.2 15.8 12.6 11.1 17.0 20.2 13.7 2.9 1.7 1.4 4.1 1.8 6.8 5.6 8. 1 11.1 1.4 0.3 AUG 0.5 0.0 0.0 0.2 0.4 1.7 3.0 0.3 3.0 0.0 0.8 Sit* 0.5 0.3 0.5 0.5 0.4 0.1 0.4 0.8 0.5 0.8 0.2 0.2 0.2 ClT 0.5 1.0 0.1 0.2 0.6 0.9 1.8 0.2 0.9 0.6 0.0 0.5 1.8 NOV 0.1 0.0 0.2 0.1 0.1 0.0 0.1 0.0 0.0 0.0 0.2 0.0 0.1 DFL 0.5 o. i 0.1 0.4 1.4 2.3 0.7 0.2 0.0 0.0 0.7 1.1 1.1 JAN OR LATER 4.3 2.4 1.5 1.3 1.4 1.3 2. 5 0.9 1.8 14.4 2.3 4.8 4.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 • 1/ SEE TECHNICAL APPENDIX A. 2/ INCUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN iHls TAB LI: ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. s DETAILS MAY NOT ADO TO ItlTALS 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, #od combines sales of CD's maturing in twelve or more montha. are also lost by the method described above. Some aelee 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 la 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few salea are loet from the aeries as derived in this menner, Totsl derived sales will differ from the change in total outstandings between survey dates by (I) the amount of CD'a that have matured between surveys and (2) the amount, if any, of salea between survey datae 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 unknownt 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 dst6i 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 cooparibility 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 outstanding#. 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 *eve*r. 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. Thua. large changes in the calculated average maturity of sales, or sltuationa in which the *v«r« r gaturity of sales differ sharply from the average maturity of outstandings. should be Interpreted with care and references should be made to actual dollar sales bv 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