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v ik December 3, 1968 L.4.1 CONFIDENTIAL (FR) SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF October 30, 1968 Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE MATURITY DISTRIBUTION OF OUTSTANDING WEEKLY NEGOTIABLE REPORTING AS O F CD1S MATURING AMOUNT ( M I L L I O N S OF DOLLARS) IN 1 30 O C T TIME CERTIFICATES OF 1/ D E P O S I T AT BANKS 1968 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 ) PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE 341.6 1.5 1.5 .0 NOVEMBER 4,463.3 19.2 20.7 1,270.5 DECEMBER 5,348.7 23.0 43.7 1,108.6 4,786.6 20.5 64.2 1,559.1 FEBRUARY 1,739.5 7.5 71.7 346.0 MARCH 1,725.3 7.4 79. 1 367.4 APRIL 1,479.5 6.3 85.4 749.5 MAY 557.1 2.4 87.8 101, r JUNE 722.0 3.1 90.9 JULY 541.9 2.3 93.2 AUGUST 340.0 1.5 94.7 <8.2 SEPTEMBER 360.5 1.5 96.2 85.6 OCTOBER 348.2 1.5 97.7 OVER 548.7 2.4 100.0 XXX 23,303.3 100.0 XXX 6,091.8 1968 OCTOBER 31 1969 J A N U A R Y 12 M O N T H S TOTAL (MEMORANDUM: DECEMBER DECEMBER 1/ INCLUDES ONLY CERTIFICATES 2/ SEE APPENDIX A. 3/ SALES MATURING AFTER OF CD'S IN D E N O M I N A T I O N S 11 MONTHS. AND OF 3 5 3 . 0 3/ DIVIDEND MATURITIES) $ 1 0 0 , 0 0 0 OR M O R E 64.7 230.2 XXX XXX 1.3 4.2 293.9 990.2 10 16 TECHNICAL TAX 7 I S S U E D BY WEEKLY REPORTING BANKS. T A B L E 2A 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 C E R T I F I C A T E S UF D E P O S I T AT NEW YORK C I T Y , C H I C A G O , AND ALL OTHER WEEKLY R E P O R T I N G B A N K S AS OF 30 OCT (IN MILLIONS OF 1968 DOLLARS) CD'S MATURING IN - AMOUNT .0 250.1 .0 NOVEMBER 1,296.5 372.4 254.8 81.2 2,912 .0 817.1 DECEMBER 2,029.5 425.7 430.9 76.0 2,888.3 607.4 1,439.3 517.4 469 . 6 121.2 2,877 .7 921.0 FEBRUARY 422.6 135.8 176.7 54.7 1,140.2 155.5 MARCH 536.1 117.0 134.0 34.5 1,055.2 215.9 APRIL 425.3 173.4 92.2 52.6 962.0 522.9 MAY 148.2 28.2 54.2 2.1 354.7 71.3 JUNE 201.8 12.5 72.1 3.3 448.1 55.2 JULY 101.8 12.5 35.6 1.3 404 .5 37.3 AUGUST 64.3 2.0 20.6 .0 255 .1 26.4 SEPTEMBER 69.3 12.0 43.7 5.9 247 5 67.5 OCTOBER 50.7 63.3 /3 18.2 * NUMBER OF R E P O R T I N G XXX 15.3 XXX 429.7 XXX 6,962.3 1,872.2 1,836.2 445.1 14,504.8 3,774.7 INCLUDES O N L Y C E R T I F I C A T E S 2/ SEE T E C H N I C A L IN D E N O M I N A T I O N OF APPENDIX A. SALES OF C D ' S M A T U R I N G AFTER T O T A L S MAY N O T ADD DUE 11 MCNTHS. TO R O U N D I N G TAX AND D I V I D E N D M A T U R I T I E S ) 6.6 51.6 33.7 128.3 119.5 597.2 10 16 238 11 12 BANKS ( MEMORANDUM: DECEMBER DECEMBER 277.2 /3 103.7 12 M O N T H S TOTAL 279.3 12.3 /3 • $100,000 OR M O R E 168.5 342.3 .1 10.6 ISSUED BY W E E K L Y R E P O R T I N G BANKS. BANKS SALES SINCE PREVIOUS MONTH 2/ 18.3 OVER * - REPORTING .0 31 1969 J A N U A R Y 3/ SALES SINCE P R E V I O U S MONTH 2/ WEEKLY 73.2 1968 OCT 1/ AMOUNT SALES SINCE PREVIOUS MONTH 2/ - AMOUNT ALL OTHFR CHICAGO NEW YORK CITY 31.0 91.5 TABLE MATURITY DISTRIBUTION 2B OF O U T S T A N D I N G N E G O T I A B L E NEW YORK CITY T CHICAGO* AND ALL AS OF 30 OCT OTHER WEEKLY REPORTING 1968 AND 25 SEP (PERCENTAGE MATURING 25 1968 CHICAGO IN 30 OCT SEP 30 OCT ALL OTHER 25 SEP 1.1 4.9 1.0 3.6 01 M O N T H S 3/ 18.6 17.3 13.9 02 M O N T H S 29.1 14.3 03 M O N T H S 20.7 04 M O N T H S 0 - 6 D A Y S 2/ BANKS DISTRIBUTION) NEW YORK CITY CD'S 1/ TIME C E R T I F I C A T E S OF D E P O S I T AT 30 OCT 25 SEP 1.7 4.1 17.8 20. 1 21.4 23. 5 10.0 19.9 14.9 24.9 25.6 20. 3 19.8 16.2 6.1 14.3 9.6 20. C 7.9 13.9 05 M O N T H S 7.7 4.4 7.3 7.0 7.3 7.0 06 M O N T H S 6.1 6.5 5.0 5.7 6.6 6.0 07 M O N T H S 2.1 3.9 3.0 2.3 2.5 3.1 08 M O N T H S 2.9 1 .9 3. 9 3.0 3.1 2.0 09 M O N T H S 1.5 2.9 1.9 3.9 2.8 2.8 10 M O N T H S .9 1 .4 1.1 2.0 1.8 2.6 11 M O N T H S 1.0 1.0 2.4 1.2 1.7 1.6 12 M O N T H S .7 .9 1.0 2.2 1.9 1.3 1.5 1 .4 .8 1.2 3.0 3.1 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 M O N T H S TOTAL * 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 BANKS. IN D E N O M I N A T I O N S OF $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G 2/ NUMBER OF D A Y S R E M A I N I N G IN SURVEY M O N T H . THIS ° E R I O D V A R I E S WITH THE NUMBER OF D A Y S F O L L O W I N G THE LAST WEDNESDAY OF THE M O N T H . 3/ NUMBER OF M O N T H S F O L L C W I N G THE SURVEY M O N T H . * T O T A L S M A Y N O T A D D DUE TO ROUNDING. TABLE MATURITY DISTRIBUTION NEW OF OUTSTANDING NEGOTIABLE YORK CITY, CHICAGO, AS OF 3 0 A N D ALL OCT NEW IN! 30 -6 D A Y S 2 / 25 WEEKLY SEP REPORTING DEPOSIT'AT BANKS 1968 DISTRIBUTION) YORK C I T Y OCT T I M E C E R T I F I C A T E S OF CHICAGO SEP 30 O C T ALL 25 SEP OTHER 30 O C T 25 SEP 1.1 4.9 1.0 3.6 1.7 4.1 19.7 22.2 14.9 21.4 21.8 25.5 02 M O N T H S 48.8 36.5 38.4 31.4 41.7 40.4 03 M O N T H S 69.5 61.4 64.0 51.7 61.5 56. 6 04 MONTHS 75,6 75.7 73.6 71.7 69.4 70. 5 05 M O N T H S 83.3 80.1 80.9 78.7 76.7 77.5 06 M O N T H S 89.4 86.6 85.9 84.4 83.3 83.5 07 M O N T H S 91.5 90.5 88.9 86.7 85.8 86.6 08 MONTHS 94.4 92.4 92.8 89.7 88.9 88.6 09 M O N T H S 95.9 95.3 94.7 93.6 91.7 91.4 10 M O N T H S 96.8 96.7 95.8 95.6 93.5 94.0 11 M O N T H S 97.8 97.7 98.2 96.8 95.2 95.6 12 M O N T H S 98.5 98.6 99.2 99.0 97.1 96.9 100.0 100.0 100.0 100.0 100.0 100.0 01 M O N T H S 3/ iR 12 M O N T H S 1/ OTHER 1968 A N D 25 (CUMULATIVE MATURING 2C INCLUDES ONLY CERTIFICATES BANKS. IN D E N O M I N A T I O N S O F 2 / N U M B E R OF FOLLOWING D A Y S R E M A I N I N G IN S U R V E Y M O N T H . T H I S T H E L A S T W E D N E S D A Y OF T H E M O N T H . 3/ MONTHS NUMBER OF FOLLOWING THE S U R V E Y MONTH. $100,000 OR M O R E ISSUED BY PERIOD VARIES WITH THE WEEKLY NUMBER OF REPORTING DAYS TABLE 3A 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 C E R T I F I C A T E S OF DEPOSIT AT WEEKLY R E P O R T I N G BANKS BY SIZE OF BANKS 2/ AS OF 30 OCT 1968 (AMOUNTS IN MILLIONS OF DOLLARS) $1 B I L L I O N AND' OVER - CD'S $200 MILLION A N D UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION 341.5 16.0 35.9 63.7 NOVEMBER 4,463.4 271.7 597.0 DECEMBER 5,348.7 218.9 4,786.6 FEBRUARY MATURING IN TOTAL 1/ PRIME 3/ - OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 226.0 68.0 110.9 47. 1 871.5 2,723.2 1,154.3 858.9 710.0 621.9 849. 8 3,658. 1 1,920.4 1,002.7 735.0 233.2 5 84.8 863. 6 3, 105.0 1,332.2 1,105.0 667.8 1,739.6 74.4 233.2 330.8 1,101.2 383. 8 474.8 242.6 MARCH 1,725.2 81.0 T87.3 330.0 1,126.9 513.6 375.4 237.9 APRIL 1,479.5 74.8 185.1 252.0 967.6 400.0 338.0 229.6 MAY 557.1 21.0 54.9 103. 6 377. 6 140.9 165.9 70.8 JUNE 722.0 21.7 60.9 152. 6 486. 8 190.6 208.0 88.2 JULY 542.0 23.2 72.1 141.4 305.3 94.5 126. 1 84.7 AUGUST 340.0 10.7 86.1 48.5 194. 7 59.4 81.9 53.4 SEPTEMBER 360.6 12.9 48.3 69.5 229. 9 64.4 109.3 56.2 OCTOBER 348.2 8.4 51.3 42.4 246. 1 50. 3 147.2 48.6 NOVEMBER OR LATER 548.6 4.8 33.8 94.6 415.4 99.6 227.5 88.3 23,303.0 1,072.7 2,852.5 4,214.0 15,163.8 6,472.0 5,331.6 3,360.2 1968 O C T 31 1969 J A N U A R Y TOTAL * (MEMORANDUM: TAX TOTAL AND DIVIDEND M A T U R I T I E S ) DECEMBER 10 293.8 14.6 25.1 61.9 192.2 112.8 32.2 47.2 DECEMBER 16 990.2 17.2 56.1 97.4 819.5 581. 8 149.9 37.8 12 18 (MEMORANDUM: 261 89 NUMBER OF B A N K S ) 84 51 37 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 OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ T O T A L D E P O S I T S AS R E P O R T E D IN THE CALL REPORT OF C O N D I T I O N ON DECEMBER 31, 1965. 3/ PRIME B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY AND WHICH 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 . * T O T A L S M A Y NOT ADD DUE TO R O U N D I N G . ARE • # TABLE 36 * SALES # e s s e /!/ OF 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 DEPOSIT SINCE P R E V I O U S MONTH AT WEEKLY R E P O R T I N G BANKS BY SIZE OF B A N K S 3/ AS OF 30 OCT 1968 (AMOUNTS IN MILLIONS OF D O L L A R S ) MATURING 1968 O C T IN TOTAL $200 MI LLICN AND UNDER $200 MILLION TO $500 MILLION $ 5 0 0 MILLION TO $1 [BILLION # 2/ $1 BILLION AND OVER - CD'S s PRIME 4/ - OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY TOTAL 31 NOVEMBER 1,270.6 112.7 172.6 261.5 723. 8 318.0 195.1 210.7 DECEMBER 1,108.7 45.2 118.1 197.0 748.4 3 99.5 166.9 182.0 1,559.1 95.0 215.5 297.2 951.4 473.8 257.4 220.2 FEBRUARY 346.0 7.7 29.0 35.8 273.5 125.9 91.1 56.5 MARCH 367.3 14.3 43.6 77.2 232.2 111.4 71.0 49.8 APRIL 749.5 46.1 112.3 140.3 450. 8 165.3 180.0 105.5 MAY 101.5 3.3 9.7 22.7 65. 8 26.6 22.0 17.2 JUNE 71.2 4.9 10.6 27.1 28.6 11.0 10.8 6.8 JULY 51.4 4.8 11.4 10.9 24.3 11.5 7.7 5.1 AUGUST 28.2 1.2 6.1 1.8 19.1 2.0 10.5 6.6 SEPTEMBER 85.7 5.4 17.5 16.4 46. 4 11.9 16.8 17.7 OCTOBER OR LATER 352.8 7.6 49.2 47.9 248. 1 62.4 129.6 56.1 6,C92.0 348.2 795.5 1,135.8 3,812.4 1,719.3 1,158.9 934.2 1969 J A N U A R Y TOTAL * f M c M n D AM ft! 1 W • TAX A T n CM n M A T ! IQ DECEMBER 10 64.7 2.5 2.9 11.1 48.2 31.3 6.7 10.2 DECEMBER 16 230.3 4.7 16.8 32.7 176. 1 122.3 22.0 31.8 37 7 12 13 A M m 1 JiA • 261 89 84 Ml 1M D CDI n c R A M 51 C1 1/ SEE TECHNICAL A P P E N D I X A . ^ 2/ INCLUDES C E R T I F I C A T E S IN D E N C M I N A T I C N S OF $100,000 CR MORE ISSUEC BY W E E K L Y REPORTING B A N K S . 3/ TOTAL D E P O S I T S A S R E P O R T E D IN THE C A L L REPCRT OF C O N D I T I O N ON DECEMBER 31, 1965. P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E CERTIFICATES OF D E P O S I T ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY AND WHICH 4/ 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 . * T O T A L S MAY N O T ADD DUE TO R O U N D I N G . ARE TABLE 3C M A T U R I T Y DISTRIBUTION' OF 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 R E P O R T I N G BANKS BY SIZE OF BANKS 2/ AS OF 30 OCT 1968 P E R C E N T A G E DISTRIBUTION 1/ $1 B I L L I O N AND OVER CD'S MATURING IN $200 MILLION A N D UNDER TOTAL $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION - PRIME TOTAL NEW YORK CITY 1968 O C T 31 1.5 1. 5 3/ OUTSIDE NEW YORK CITY NON-PRIME 1.3 1.5 1.5 1.1 2. 1 1.4 NOVEMBER 19.2 25.3 20.9 20.7 18.0 17.8 16. 1 21.1 DECEMBER 23.0 20.4 21.8 20.2 24.1 29.7 18.8 21.9 20.5 21.7 20.5 20.5 20.5 20.6 20.7 19.9 FEBRUARY 7.5 6.9 8.2 7.9 7.3 5.9 8.9 7.2 MARCH 7.4 7.6 6.6 7.8 7.4 7. 9 7.0 7. 1 APRIL 6.3 7.0 6.5 6.0 6.4 6.2 6.3 6.8 MAY 2.4 2.0 1.9 2.5 2.5 2.2 3.1 2.1 JUNE 3.1 2.0 2.1 3.6 3.2 2.9 3.9 2.6 JULY 2.3 2.2 2.5 3.4 2.0 1.5 2.4 2.5 AUGUST 1.5 1.0 3,0 1.2 1.3 0.9 1.5 1.6 SEPTEMBER 1.5 1.2 1.7 1.6 1.5 1.0 2.1 1.7 OCTOBER 1.5 0.8 1.8 1.0 1.6 0.8 2.8 1.4 NOVEMBER OR LATER 2.4 0.4 1.2 2.2 2.7 1.5 4.3 2.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 J A N U A R Y TOTAL * ; DIVIDEND M A T U R I T I E S ) DECEMBER 10 1.3 1.4 0.9 1.5 1.3 1.7 0.6 1.4 DECEMBER 16 4.2 1.6 2.0 2.3 5.4 9.0 2.8 2.6 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 OF $100,000 OR MORE I S S U E D EY WEEKLY REPORTING BANKS. 2/ TOTAL D E P O S I T S AS R E P O R T E D IN THE CALL REPORT CF C O N D I T I O N ON DECEMBER 31, 1965. 3/ P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY AND WHICH 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 . T O T A L S M A Y N O T ADD DUE TO R O U N D I N G . * # # # e • # # # e ARE # TABLE 3D M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 30 OCT 1968 CUMULATIVE PERCENTAGE $1 B I L L I O N - CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION TOTAL NEW YORK CITY — 31 AND OVER PRIME 3/ - 1968 O C T I/ OUTSIDE NEW YORK CITY NON-PRIME 1.5 1.5 1.3 1.5 1.5 1.1 2.1 1.4 NOVEMBER 20.7 26.8 22.2 22.2 19.5 18.9 18.2 22.5 DECEMBER 43.7 47.2 44.0 42.4 43.6 48.6 37.0 44.4 64.2 68.9 64.5 62.9 64. 1 69.2 57.7 64.3 FEBRUARY 71.7 75. a 72.7 70.8 71.4 75.1 66.6 71.5 MARCH 79.1 83.4 79.3 78.6 78.8 83.0 73.6 78.6 APRIL 85.4 90.4 85.8 84.6 85.2 89.2 79.9 85.4 MAY 87.8 92.4 87.7 87. 1 87.7 91.4 83.0 87.5 JUWE 90.9 94.4 89.8 90.7 90.9 94.3 86.9 90.1 JULY 93.2 96.6 92.3 94.1 92.9 95.8 89.3 92.6 AUGUST 94.7 97.6 95.3 95.3 94.2 96.7 90.8 94.2 SEPTEMBER 96.2 98.8 97.0 96.9 95.7 97.7 92.9 95.9 OCTOBER 97.7 99 . 6 98.8 97.9 97.3 98.5 95.7 97.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 J A N U A R Y NOVEMBER OR LATER 1/ I M C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $100,000 CR MORE ISSUED BY W E E K L Y REPORTING B A N K S . 2/ T O T A L D E P O S I T S AS R E P O R T E D IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1 9 6 5 . 3/ P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E CERTIFICATES OF DEPOSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY 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 W I T H I N THE SECONDARY M A R K E T . AND WHICH ARE TABLE 3E SALES /I/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY R E D O R T I N G BANKS BY SIZE OF BANKS 3/ AS OF 30 OCT 1968 PERCENTAGE DISTRIBUTION $1 BILLION AND OVER CD'S MATURING 1968 OCT IN TOTAL $200 MI LLI CIS! AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION - PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-°RIME 31 NOVEMBER 20.9 32.4 21.7 23.0 19.0 18.5 16.8 22.6 DECEMBER 18.2 13.0 14.8 17.3 19.6 23.2 14.4 19.5 25.6 27.3 27.1 26.2 25.0 27.6 22.2 23.6 FEBRUARY 5.7 2.2 3.6 3.2 7.2 7.3 7.9 6.0 MARCH 6.0 4. 1 5.5 6.8 6. 1 6.5 6. 1 5.3 APRIL 12.3 13.2 14.1 12.4 11.8 9.6 15.5 11.3 MAY 1.7 0.9 1.2 2.0 1.7 1.5 1.9 1.8 JUNE 1.2 1.4 1.3 2.4 0. 8 0.6 0.9 0.7 JULY 0.8 1.4 1.4 1.0 0.6 0.7 0.7 0.5 AUGUST 0.5 0.3 0 .8 0.2 0.5 0.1 0. 9 0.7 SEPTEMBER 1.4 1.6 2.2 1.4 1.2 0.7 1.4 1.9 OCTOBER OR LATER 5.8 2.2 6.2 4.2 6. 5 3.6 11.2 6.0 100.0 100.0 100.0 1C0.0 100.0 100.0 100.0 100.0 1969 J A N U A R Y TOTAL * A \i n Ulv n t lUtlNU v t n p mMATURITIES) n IRA MINU % ('I DECEMBER 10 1.1 0.7 0.4 1.0 1.3 1.8 0.6 1.1 DECEMBER 16 3.8 1.3 2.1 2.9 4.6 7.1 1.9 3.4 (MEMORANDUM: 261 89 NUMBER OF 84 51 37 7 12 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES C E R T I F I C A T E S IN DENOMINATICNS OF $100,000 CR MORE ISSUED EY WEEKLY REPORTING BANKS. 3/ TOTAL DEPOSITS AS R E P O R T E D IN THE CALL REPORT CF CONDITION ON DECEMBER 31, 196*. 4/ 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 THF SECONDARY MARKET * TOTALS MAY NOT ADD DUE TO ROUNDING. 18 T A B L E 4A AVERAGE MATURITY OF 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 AT V A R I O U S 1/ BANKS S U R V E Y DATES (IN MONTHS ) BANK • C L A S S I F I C A T I O N — — 30 OCT DAT F OF 1963 25—SEP SURVEY 1968 ——,—, ______ 28 AUG 1968 (BY L O C A T I O N ) ALL REPORTING BANKS ISSUING CD'S 3.3 3.5 3.7 2.9 3. 3 3.6 CHICAGO 3.3 3.7 3.7 OTHER 3.5 3.6 3.7 NEW YORK CITY (BY UNDER $2 00 MILLION SIZE OF B A N K ) 2/ 2>8 2.8 2.9 $200— $500 PILLION 3.2 3.4 3.4 $500— $1tOOO MILLION 3.3 3. 5 3.6 OVER 3.3 3.6 3.8 $1 B I L L I O N PRIME IN NEW YORK CITY 3/ 2.9 3.3 3.6 PRIME OUTSIDE 3.8 4.0 4.1 3.3 3.4 3.6 NEW YORK C I T Y 3/ NON-PRIME 1/ INCLUDES C E R T I F I C A T E S IN D E N O M I N A T I O N S OF 2/ TOTAL 3/ PRIME B A N K S A R E THOSE WHCSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y AND W H I C H ARE R E P O R T E D BY D E A L E R S TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . D E P O S I T S AS R E P O R T E D $100,000 OR MORE IN THE CALL REPORT ISSUED BY W E E K L Y R E P O R T I N G CF CONDITION ON DECEMBER 31, BANKS. 1965. T A B L E 4B AVERAGE MATURITY OF NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT SOLD BY W E E K L Y 1/ REPORTING BANKS DURING T H E M O N T H OF V A R I O U S SURVEYS (IN M O N T H S ) DATE OF BANK C L A S S I F I C A T I O N 30 OCT 1968 25-SFP SURVEY 1968 28 AUG 1968 (BY L O C A T I O N ) ALL REPORTING BANKS 3.3 3.4 3.6 MEW YORK C I T Y 2.9 2.8 3.2 CHICAGO 3.1 4.5 4.1 OTHER 3.6 3.5 3.7 ISSUING CD'S (BY SIZE OF B A N K ) 2/ 2.8 3.0 2.9 $200— $500 M I L L I O N 3.5 3.7 3. 9 $500— $11 000 3.2 3.5 3. 5 3.4 3.4 3.7 UNDER OVER $200 M I L L I O N MILLION $1 B I L L I O N PRIME IN NEW YORK CITY 3/ 2.9 2.9 3.2 PRIME OUTSIDE 4.1 4.C 4.2 3.3 3. 5 3.6 NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL 3/ P R I M E B A N K S APE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y AND W H I C H ARE R E P O R T E D BY D E A L E R S TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTE—SEE IN D E N O M I N A T I O N S OF D E P O S I T S AS R E P O R T E D TECHNICAL APPENDIX B. IN THE CALL $100*000 OR MORE REPORT ISSUED BY W E E K L Y REPORTIN G OF C O N D I T I O N ON DECEMBER 31, BANKS. 1965. T A B L E 5A P A T I O OF OUTSTANDING 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 TO TOTAL 1/ DEPOSITS AT V A R I O U S S U R V E Y DATES (PER CENT) DATE OF TOTAL D E P O S I T S 2/ (IN M I L L I O N S OF DOLLARS) 3 0 OCT ALL B A N K S ISSUING CD'S 25 SEP 1968 28 AUG 1968 10.7 10.3 10.6 UNDER 200 7.1 7.1 7.3 200 - 500 9.2 8.8 8.8 500 - 1000 10.4 10.2 10.4 11-5 11.1 11.5 12.9 12.1 12.8 9.7 9.7 9.9 12.4 12.1 12.4 OVER 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E 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/ TOTAL 1968 SURVEY IN DENOMINATIONS OF D E P O S I T S AS R E P O R T E D $100,000 OR MORE ISSUED BY W E E K L Y R E P O R T I N G IN T H E CALL REPORT OF CONDITION ON DECEMBER BANKS. 31, 1965. 3/ PRIME B A N K S ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE R E P O R T E D BY D E A L E R S TO TRADE 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 THE D E N O M I N A T O R OF THE R A T I O I N T E R B A N K A N D U.S. G O V E R N M E N T D E P O S I T S . IN THIS T A B L E ARE TOTAL D E M A N D AND TIME D E P O S I T S , INCLUDING T A B L E 5B PATIO OF 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 DEPOSIT 1/ T O TOTAL DEPOSITS AS CF 30 OCT 1968 (NUMBER OF B A N K S ) TOTAL D E P O S I T S 2/ (IN M I L L I O N S OF ALL 5% OR LESS DOLLARS) B A N K S ISSUING CD'S 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 2 5% 25% OR MORE A V E R A G E CD TO D E P O S I T R A T I O (PER C E N T ) 90 76 44 32 15 4 L0.7 UNDER 200 41 30 7 7 4 0 7.1 200 - 500 33 18 18 7 4 4 9.2 500 - 1000 13 15 10 9 4 0 10.4 3 13 9 9 3 0 11.5 0 2 3 2 0 0 12.9 1 7 0 3 1 0 9.7 2 4 6 4 2 0 12.4 OVER 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW YORK 3 / NGNPR IME 1/ I N C L U D E S C E R T I F I C A T E S 2/ TOTAL IN D E N O M I N A T I O N S OF D E P O S I T S AS R E P O R T E D $100,000 OR MORE IN THE CALL REPORT CF CONDITION ISSUED BY WEEKLY REPORTING ON DECEMBER BANKS. 31, 1965. 3/ P R IM E B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE H I G H E S T QUALITY AND 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 S E C O N D A R Y M A R K E T . NOTE- D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS^ IN THIS T A B L E ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING T A B L E 5C PER CENT CHANGE IN OUTSTANDING N E G O T I A B L E TIME C E R T I F I C A T E OF D E P O S I T 25 SEP 1968 TO 30 OCT (NUMBER OF TOTAL UN ALL D E P O S I T S 2/ REDUCED CD'S TO ZERO M I L L I O N S OF D O L L A R S ) B A N K S ISSUING CD'S /I 1968 BANKS) DECLINES OF —— — — 10% OR 5 TO 5% OR MORE 10% LESS INCREASES OF N 0 CHANGE 5% OR LESS 5 TO 10% 1 0 % OR MORE 30 26 36 19 45 46 59 ISSUED CD'S BUT H A D NONE OUTSTANDING ON BASE DATE UNDER 200 2 15 8 10 7 14 11 24 0 200 - 5 00 0 11 6 10 9 13 18 17 0 5 00 - 1000 0 4 8 8 2 8 10 11 0 0 0 4 8 1 10 7 7 0 0 0 0 i 0 2 2 2 0 P R I M E O U T S I D E NEW YQRK 3/ 0 0 0 5 0 4 2 1 0 NONPRIME 0 0 4 2 1 4 3 4 0 OVER 1000 PRIME IN NEW YORK 3/ 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL IN D E N O M I N A T I O N S OF $100 ,000 OR MORE D E P O S I T S AS R E P O R T E D ISSUED BY WEEKLY REPORTING IN THE CALL REPORT CF C O N D I T I O N ON DECEMBER 31 , BANKS. 1965. 3/ PRIME B A N K S ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY W H I C H ARE R E P O R T E D BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS P O I N T S OF EACH OTHER WITHIN THE S E C O N D A R Y MARKET NOTE- THE N U M B E R OF B A N K S IN T H I S TABLE DIFFERS FROM T H O S E IN M O S T OTHER TABLES TO THE E X T E N T THAT B A N K S THAT HAD O U T S T A N D I N G C D ' S ON THE LAST SURVEY R E D U C E D THEIR O U T S T A N D I N G S TO ZERO ON THIS S U R V E Y . T A B L E 50 PER CENT 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 TIME C E R T I F I C A T E OF D E P O S I T /I 31 JUL 1968 TO 30 OCT (NUMBER OF TOTAL fIN D E P O S I T S Z2 REDUCED CD'S 25% TO OR ZERO MORE M I L L I O N S OF D O L L A R S ) ALL B A N K S ISSUING CO' S 1968 BANKS) DECLINES OF 20 TO 25% 15 TO 10 TO 15% 20% 18 INCREASE OF 5 TO 10% 5% OR LESS 11 18 20 NO 5% OR LESS 5 TO 10% 11 32 29 29 18 11 51 CHANGE 10 TO 15% 20 15 TO TO 25% 20% 25% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE UNDER 200 2 8 3 2 4 8 4 5 9 9 6 6 4 21 1 200 - 50C 1 9 2 3 2 5 5 4 10 6 9 7 3 19 O 500 - 1000 0 1 a 1 4 2 9 2 6 7 5 2 2 9 1 0 0 0 1 1 3 2 0 7 7 9 3 2 2 0 0 0 0 0 0 L 1 0 2 2 0 0 1 0 0 0 0 0 1 a 1 1 0 3 1 3 2 0 0 0 0 0 0 0 l 1 0 0 2 4 6 1 1 2 0 OVER 1000 PRIME IN NEW Y O R K 3/ P R I M E O U T S I D E NEW NONPRIME YORK 37 1/ I N C L U D E S C E R T I F I C A T E S 2/ TOTAL NOTE- IN D E N O M I N A T I O N S OF $ 1 0 0 * 0 0 0 OR MORE D E P O S I T S AS R E P O R T E D IN THE CALL REPORT ISSUED BY W E E K L Y REPORTING CF CONDITION ON DECEMBER 31, BANKS. 1965. THE N U M B E R OF B A N K S IN THIS T A B L E DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT B A N K S THAT HAD O U T S T A N D I N G C D ' S ON THE SURVEY T H R E E MONTHS PRIOR TO THE C U R R E N T SURVEY, REDUCED THEIR O U T S T A N D I N G S TO Z E R C . T A B L E 5E CHANGE IN 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 1/ OVER THE M O N T H AS A PER CENT OF TOTAL AT THE BEGINNING OF THE 25 SEP 1968 TO 30 OCT (NUMBER OF PERIOD 1968 BANKS) I N C R E A S E S OF DECLINES OF TOTAL D E P O S I T S 2/ 3% AND OVER (IN M I L L I O N S OF D O L L A R S ) ALL DEPOSITS B A N K S ISSUING CD'S 1% ANO LESS 1 TO 2 TO 3% 2% NO CHANGE 1% AND LESS 3% AND OVER 2 TO 3% 1 TO 2% 2 3 17 70 19 109 19 14 8 UNDER 200 2 2 7 22 7 41 4 3 1 200 - 500 0 0 5 22 9 34 5 6 3 500 - 1000 0 1 5 14 2 18 6 2 3 0 0 0 12 1 16 4 3 1 0 " 0 0 1 0 4 2 0 0 P R I M E O U T S I D E NEW YORK 3/ 0 0 0 5 0 6 0 1 0 NONPRIME 0 0 0 6 1 6 2 2 1 OVER 1000 PRIME IN N E W Y O R K 3/ 1/ I N C L U D E S C E R T I F I C A T E S 2/ T O T A L IN DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE D E P O S I T S AS R E P O R T E D ISSUED BY W E E K L Y REPORTING IN THE CALL REPORT OF CONDITION ON DECEMBER 31, BANKS. 1965. 3/ P R I M E B A N K S A R E THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING O F THE HIGHEST QUALITY AND W H I C H ARE R E P O R T E D BY DEALERS 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 THE D E N O M I N A T O R OF THE R A T I O I N T E R B A N K A N D U.S. G O V E R N M E N T D E P O S I T S . IN THIS T A B L E ARE TOTAL D E M A N D AND TIME D E P O S I T S , INCLUDING TABLE CHANGE OVER IN 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 1/ THE LAST THREE M O N T H S AT THE AS A P E R 1968 TO 30 OCT tNUMBER OF TOTAL ALL DEPOSITS 2/ 1968 BANKS) D E C L I N E S OF M I L L I O N S OF D O L L A R S ) BANKS CD'S CENT OF TOTAL D E P O S I T S BEGINNING OF T H E PERIOD 31 JUL (IN 5F 5% AND OVER 3 TO 4% 4 TO 5% I N C R E A S E S OF 2 TO 3% 1 TO 2% 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 2 TO 3% 3 TO 4% 4 TO 5% 5% AND OVER ISSUING 0 1 4 6 17 53 12 80 42 23 10 4 9 UNDER 200 0 1 2 3 a 16 5 28 14 7 3 1 1 200 - 50C 0 0 2 3 6 16 4 23 14 7 2 2 S 500 - 1000 0 0 0 0 2 15 3 13 8 2 4 1 3 0 0 0 0 1 6 0 16 6 7 i a 0 0 0 0 0 0 2 0 2 2 1 0 0 0 0 0 0 0 1 2 0 7 0 2 0 0 0 0 0 0 0 0 2 C 7 4 4 1 0 0 OVER 1000 PRIME IN NEW Y O R K 3/ P R I M E O U T S I D E NEW NONPRIME YORK 3/ 1/ I N C L U D E S C E R T I F I C A T E S 2/ TOTAL IN D E N O M I N A T I O N S OF D E P O S I T S AS R E P O R T E D $100 ,000 OR MORE IN THE CALL REPORT OF ISS UED BY WEEKLY REPORTING CON C IT ION ON DECEMBER BANKS. 31, 1965 • 3/ P R I M E B A N K S APE THOSE WHOSE N E G O T I A B L E C E R T I F I CATES 0 F OEPJSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY AND W H I C H ARE R E P O R T E D BY DEALERS TO T R A D E W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN T H E S E C O N D A R Y M A R K E T . NOTE- D E P O S I T S IN THE D E N C M I N A T O R OF THE R A T I O I N T E R B A N K A N D U.S. G O V E R N M E N T D E P O S I T S . IN| THIS T A B L E ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING T A B L E 6A 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 C 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 R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 30 OCT (AMOUNTS CD'S MATURING IN ALL DISTRICTS BOSTON 341.7 31.7 NOV 4463.3 DEC IN MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 38.7 2.9 3.2 10.2 26.4 60.3 148.1 568.2 93.4 43.1 93.3 297.4 766.7 118.5 156.0 706.8 82.3 88.7 113.6 333.4 678.1 281.4 67.4 132.8 755.6 68.1 96.7 136.0 370.7 744.6 55.1 127.7 28.1 79.5 291.8 44.4 32.3 42.5 104.8 348.1 641.8 71.0 78.6 48.5 71.7 225.5 29.2 27.4 45.8 113.9 290.7 67.1 520.2 40.8 112.0 41.6 47.4 172.8 39.8 23.0 26.3 108.7 279.6 557.0 36.4 180.6 14.8 30.2 11.2 23.4 92.4 13.2 5.6 5.9 22.7 120.6 J UN 721.9 69.1 254.2 32.4 72.5 8.4 27.7 108.5 11.3 6.9 12.4 32.2 86.3 JUL 541.9 20.2 143.2 24.4 77.0 4.8 40.7 65.7 7.0 6.1 15.6 54.2 83.0 AUG 339.9 17.8 88.7 7.9 70.0 2.6 9.8 43.8 2.1 4.1 18.1 15.7 59.3 SEP 360.6 11.9 100.3 12.0 34 .6 12.2 16.1 73.2 6.7 1.5 8.2 18.5 65.4 OCT 348.3 8.5 69.2 4.9 31.5 13.3 8.1 29.6 2.3 1.9 24.0 12.9 142.1 NOV O R LATER 548.7 38.1 136.5 18.8 189.7 10.0 16.5 56.6 2.1 0.8 0.4 35.5 43.7 23302.7 1350.5 8493.2 6 89.4 1684.2 455.6 786.7 3229.2 404.8 341.3 552.3 1547.0 3768.5 3.2 3.0 2.9 3.4 4.6 3.4 3.5 3.2 3.0 2.9 3.3 3.1 3.4 *261 17 49 10 19 15 21 36 11 21 24 33 NEW YORK CL EV ELAND 89.2 8.4 55.6 6.2 8.9 344.2 1641.6 127.7 256.8 82.8 5348.7 292.4 2^59,6 152.7 266 . 6 1969 JAN 4786.6 257.9 1756.9 118.5 FEB 1739.5 74.0 511.2 MAR 1725.3 91.2 APR 1479.3 MAY 1968 OCT 31 * AVERAGE MATURITY IN M O N T H S 2/ N U M B E R OF R E P O R T I N G BANKS 1/ RICHMOND ATLANTA CHICAGO INCLUDES O N L Y C E R T I F I C A T E S I S S U E D IN DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR M O R E BY W E E K L Y REPORT ING 2/ SEE T E C H N I C A L APPENDIX * 1968 PHILADELPHIA TOTAL 1/ B. D E T A I L S M A Y N O T A D D TO T O T A L S DUE TO R G U N D I N G . BANKS. T A B L E 66 1/ 2/ SALES OF 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 DEPOSIT WEEKLY REPORTING BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 30 OCT (AMOUNTS CD'S MATURING IN ALL DISTRICTS BOSTON 1968 NOV 1270.6 101.2 DEC 1108.6 1969 JAN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN F R AN— CISCO 144.6 25.3 9.6 23.2 101.2 195.2 23.1 129.2 12.9 16.9 26. 1 89.2 117.5 35.7 48.5 243.1 24.4 19.5 53.8 82.8 180.1 15.4 7.0 6.1 74.4 3.8 2.7 5.4 7.6 46.2 19.8 18.6 14.7 20.5 57.8 4.2 4.7 6.3 20.6 42.5 221.2 17.5 35.2 30.9 36.1 90.9 9.4 14.5 16.6 75.1 173.5 12.9 34.6 0.3 1.9 7.0 9.0 6.2 0.7 0.5 1.0 1.5 25.8 71. 1 18.4 19.9 0.3 4.7 3.4 1.2 11.8 0.6 0.4 1.2 2.5 6.7 JUL 51.4 4.7 13.9 1.1 2.4 1.8 6.9 7.9 0.2 0.5 2.6 3.4 6.0 AUG 28.4 5.3 2.9 0.6 6.0 1.2 0.3 2.7 0.3 0.6 2.0 0. 0 6.5 SEP 85.5 4.6 30.2 1.1 3.7 0.4 7.4 14.0 1.8 0.5 2.0 2.3 17.5 354.2 9.2 76.1 3.9 25.3 13.1 6.2 22.0 0.5 2.7 23.6 22.6 149.0 6093.5 393.2 2342.4 165.6 310.1 162.2 219.1 804.6 84.1 73.1 163.8 408.8 966.5 3.3 3.0 2.8 2.8 3.6 4.0 3.5 3.1 2.5 3.3 4.1 NEW YORK 506.0 31.9 58.7 19.9 53.8 73.5 503.0 38.4 51.7 27. 1 1559.3 100.8 642.4 41.7 86.5 FEB 345.9 14.4 153.9 9.0 MAR 367.5 19.5 138.3 APR 749.6 28.7 MAY 101.4 J UN LATER * 1/ SEE T E C H N I C A L 2/ INCLUDES O N L Y C E R T I F I C A T E S 3/ SEE T E C H N I C A L APPENDIX RICHMOND ATLANTA CHICAGO 3. 1 4.4 A. ISSUED IN D E N O M I N A T I O N S OF $ 1 0 0 * 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. APPENDIX B. DETAILS MAY NOT ADD • IN MILLIONS OF DOLLARS) CL EVELAND AVERAGE MATURITY IN M O N T H S 3/ * 1968 PHILADELPHIA OCT OR TOTAL SINCE PREVIOUS MONTH • TO T O T A L S DUE TC • RCUNDING. • • • • • • • # • • • • # # e e # 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 GF 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 1/ AT W E E K L Y R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 30 OCT (PERCENTAGE CD'S MATURING IN ALL DISTRICTS BOSTON 1.5 2.3 NOV 19.2 DEC DISTRIBUTION) CLEVELAND 1.1 1 .2 25.5 19.3 18.5 23.0 21.7 27.8 1969 JAN 20.5 19.1 FEB 7.5 MAR CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS FRANCISCO 1.4 1.1 1.2 0.7 0.9 1.8 1.7 1.6 15.2 18.2 18.8 17.6 23.1 12.6 16.9 19.2 20.3 22.1 15.8 26.0 19.8 21.9 20.3 26.0 20.6 21.6 18.0 20.7 17.2 16.7 14.8 16.9 23.4 16.8 28.3 24.6 24.0 19.8 5.5 6.0 8.0 7.6 6.2 10.1 9.0 11.0 9.5 7.7 6.8 9.2 7.4 6.0 7.6 10.3 4.7 10.6 9.1 7.0 7.2 8.0 8.3 7.4 7.7 APR 6.3 5.0 6.1 5.9 6.7 9.1 6.0 5.4 9.8 6.7 4.8 7.0 7.4 MAY 2.4 2.7 2.1 2.1 1.8 2.5 3.0 2.9 3.3 1.6 1.1 1.5 3.2 J UN 3.1 5.1 3.0 4.7 4.3 1.8 3.5 3.4 2.8 2.0 2.2 2. 1 2.3 JUL 2.3 1.5 1.7 3.5 4.6 1.1 5.2 2.0 1.7 1.8 2.8 3.5 2.2 AUG 1.5 1.3 1.0 1.1 4.2 0.6 1.2 1.4 0.5 1.2 3.3 1.0 1.6 SEP 1.5 0.9 1.2 1 .7 2.1 2.7 2.0 2.3 1.7 0.4 1.5 1.2 1.7 OCT 1.5 0.6 0.8 0.7 1.9 2.9 1.0 0.9 0.6 0.6 4.3 0.8 3.8 2.4 2.8 1.6 2.7 11.3 2.2 2.1 1.8 0.5 0.2 0. 1 2.3 1.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1968 OCT 31 NOV OR 1/ RICHMOND ATLANTA 1 n I m PHI LADELPHIA TOTAL NEW YORK 1968 * LATER INCLUDES O N L Y C E R T I F I C A T E S ISSUED IN DENOMINATIONS OF $ l Q O t O O O OR MORE BY W E E K L Y R E P O R T I N G BANKS. TABLE 6D 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 C E R T I F I C A T E S OF D E P O S I T 1/ AT W E E K L Y REPORTING BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 30 OCT 1968 (CUMULATIVE P E R C E N T A G E ) CD* S M A T U R I N G IN ALL DI STRICTS BOSTON 1.5 2.3 NOV 20.7 DEC ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 1.2 0.7 0.9 1.8 1.7 1.6 19.9 18.8 23.8 13.5 18.7 20.9 21.9 45.6 39.7 40.7 44.1 39.5 39.3 42.5 39.9 51.0 60.4 56.6 64.1 60.9 67.8 63.9 66.5 59.7 67.0 58.6 66 • 6 66.7 73.1 71.9 77.3 71.6 73.3 68.9 82.5 77.3 63.3 77.2 75.8 80.1 79.1 85.3 79.9 80.7 76.6 85.1 88.6 83.2 70.0 86.3 81.8 85.5 88.9 92.0 84.7 87.7 84.0 87.8 87.8 90.7 85.3 71.8 88.8 84.8 88.4 92.2 93.6 85.8 89.2 87.2 J UN 90.9 92.9 93.7 90.0 76.1 90.6 88.3 91.8 95.0 95.6 88.0 91.3 89.5 JUL 93.2 94.4 95.4 93.5 80.7 91.7 93.5 93.8 96.7 97.4 90.8 94.8 91.7 AUG 94.7 95.7 96.4 94.6 84.9 92.3 94.7 95.2 97.2 98.6 94.1 95.8 93.3 SEP 96.2 96.6 97.6 96.3 87.0 95.0 96.7 97.5 98.9 99.0 95.6 97.0 95.0 OCT 97.7 97.2 98.4 97.0 88.9 97.9 97.7 98.4 99.5 99.6 99.9 97.8 98.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 NEW YORK PHILADELPHIA CL E V E LAND 1.1 1.2 3.3 1.4 1.1 27.8 20.4 19.7 18.5 19.6 43.7 49.5 48.2 41.8 34.3 1969 JAN 64.2 68 . 6 68.9 59.0 FEB 71. 7 74. 1 74.9 MAR 79. 1 80.1 APR 85.4 MAY 1968 O C T 31 NOV OR 1/ LATER INCLUDES O N L Y C E R T I F I C A T E S • # I S S U E D IN DENOMINATIONS OF # # RICHMOND ATLANTA CHICAGO $100* 000 OR MORE BY WEEKLY R E P O R T I N G B A N K S * # # # # # * T A B L E 6E 1/ 2/ S A L E S OF NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT SINCE P R E V I O U S MONTH WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 30 OCT (PERCENTAGE CD'S MATURING IN ALL DISTRICTS BOSTON 1968 NOV 20.9 25.7 DEC 18.2 1969 JAN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 18.0 30.1 13.1 14.2 24.8 20.2 10.5 16.1 15.3 23.1 15.9 21.8 12.2 22.0 22.1 30.2 29.0 26.7 32.8 20,3 18.6 5.0 4.3 2.8 9.2 4.5 3.7 3.3 1.9 4.8 12.0 6.0 9.1 9.4 7.2 5.0 6.4 3.8 5.0 4.4 9.4 10.6 11.4 19.1 16.5 11.3 11.2 19.8 10.1 18.4 18.0 3.3 1.5 0.2 0.6 4.3 4.1 0.8 0.8 0.7 0.6 0.4 2.7 1.2 4.7 0.8 0.2 1.5 2.1 0.5 1.5 0.7 0.5 0.7 0.6 0.7 JUL 0.8 1.2 0.6 0.7 0.8 1.1 3.1 1.0 0.2 0.7 1.6 0.8 0.6 AUG 0.5 1.3 0.1 0.4 1.9 0.7 0.1 0.3 0.4 0.8 1.2 0.0 0.7 SEP 1.4 1.2 1.3 0.7 1.2 0.2 3.4 1.7 2.1 0.7 1.2 0.6 1.8 5.8 2.3 3.2 2.4 8.2 8.1 2.8 2.7 0.6 3.7 14.4 5.5 15.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 NEW YORK CL EV EL AND 21.6 19.3 18.9 12.3 24.6 18.7 21.5 23.2 16.7 16.7 25.6 25.6 27.4 25.2 27.9 FEB 5.7 3.7 6.6 5.4 MAR 6.0 5.0 5.9 APR 12.3 7.3 MAY 1.7 J UN LATER * 1/ SEE 2/ INCLUDES O N L Y C E R T I F I C A T E S NOTE - DISTRIBUTION) PHILADELPHIA OCT OR TOTAL 1968 TECHNICAL SALES APPENDIX CHICAGO A. IN T H I S TABLE ARE ISSUED IN OENCPINATICNS OF $100,000 OR MORE BY W E E K L Y R E P O R T I N G B A N K S . NOT A D J U S T E D FOR CD'S THAT. H A V E M A T U R E D . * D E T A I L S MAY NOT ADD TO T O T A L S DUE TO R O U N D I N G . RICHMOND ATLANTA TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey, Those CD s maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable' to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month—after the survey d a t e — a r e assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD's mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce compatibility between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold at the mid-point between surveys, the average maturity of sales would be lengthened relative to the average maturity of outstandings, by, in effect, using an earlier starting date for sales than for outstandings. Sales of CD's maturing in a particular month are often a large and highly variable proportion of total sales while changes in outstandings due in any particular month are a small and rather stable proportion of the level of total outstandings. As a result, the average maturity of sales is much more sensitive to month-to-month variation in the maturity structure of sales than is the case with the outstandings series. Thus, large changes in the calculated average maturity of sales, or situations in which the average maturity of sales differ sharply from the average maturity of outstandings. should be interpreted with care and references should be made to actual dollar sales by month. Formulas for calculation of average maturities are available on request from the Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System.