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L.4.1 CONFIDENTIAL (FR) July 9, 1970, V z # ' • SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT URGE WEEKLY REPORTING BANKS AS OF May 27, 1970. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE M A T U R I T Y D I S T R I B U T I O N OF 1 1/ 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 AS OF 27 MAY 1970 CCS AMOUNT (MILLIONS OF DOLLARS) SALES SINCE P R E V I O U S MONTH 2 / ( M I L L I O N S OF D O L L A R S PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE 241.3 1.9 1.9 .0 JUNE 3,094,4 23.8 25.7 748.6 JULY 2,324.9 17.9 43.6 444.5 AUGUST 1,399.5 10.8 54.4 626.9 SEPTEMBER 809. 9 6 .2 60.6 79.5 OCTOBER 798. 6 6.1 66.7 69.4 NOVEMBER 461.8 3.5 70.2 242.0 DECEMBER 303.1 2.3 72.5 28.8 495.2 3.8 76.3 20.8 FEBRUARY 524.8 4.0 80.3 9.8 MARCH 742.4 5.7 86.0 14.6 APRIL 1,087.1 8.4 94.4 57.6 327.2 2.5 96.9 402.9 3.1 100.0 XXX 13,013.1 100 .0 XXX 2,652.8 MATURING IN 28 - 1970 M A Y 31 1971 J A N U A R Y MAY OVER 12 M O N T H S TOTAL TAX AND CI VIDEND M A T U R I T I E S ) (MEMORANDUM: IN D E N O M I N A T I O N S OF 1/ 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 A P P E N D I X A . 3/ S A L E S OF C D ' S M A T U R I N G AFTER * • 31.9 67.7 XXX XXX .9 2.2 113.4 285.4 J U N E 10 J U N E 15 3 1 0 . 2 3/ $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G B A N K S . 11 M O N T H S . # e # e • e # * * # e # e s e • 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 OF D E P O S I T A T NEW YORK C I T Y , C H I C A G O , AND A L L OTHER W E E K L Y R E P O R T I N G BANKS AS OF 27 MAY 1970 (IN M I L L I O N S OF D O L L A R S ) NEW CD'S MATURING AMOUNT IN SALES SINCE P R E V I O U S MONTH 2/ AMOUNT SALES S I N C E P R E V I O U S M O N T H 2/ AMOUNT SALES SINCE P R E V I O U S MONTH 2 / 59.5 .0 21.3 .0 16 0.5 .0 JUNE 744.7 119.0 209.8 28.5 2,139 .9 601.1 JULY 557.1 107.1 188.4 58.3 1,579.4 2 7 9.1 AUGUST 445.3 207.1 87.7 70.8 SEPTEMBER 187.3 36.6 60.6 1.3 562.0 41.6 OCTOBER 122.4 7.4 25.7 3.3 650.5 58. 7 NOVEMBER 84.6 29.5 23.8 14.7 353.4 DECEMBER 91.2 2.5 15.8 .3 19 6« 1 26.0 36.2 2.5 24.2 .2 434.8 18.1 59.7 .5 24.1 .9 441.0 8.4 MARCH 126.9 1.1 52.1 .3 563.4 13.2 APRIL 28 2.1 13.0 46.6 .6 758.4 44.0 1 9 7 0 MAY 28 - MAY 31 1971 J A N U A R Y FEBRUARY OVER 2 8 4.4 /3 23.6 XXX 15.0 XXX 364.3 XXX 2,842.6 535.7 815.5 195.6 9,355.0 1,92 U 5 22.6 91.5 10 15 INCLUDES ONLY CERTIFICATES 234 11 11 (MEMORANDUM: 2 / SEE T E C H N I C A L 197.8 20.4 N U M B E R OF R E P O R T I N G B A N K S JUNE JUNE 284.8 349. 0 9.4 Z3 12 M O N T H S TOTAL * 16.4 /3 866 . 5 22.0 MAY 1/ ALL OTHER W E E K L Y R E P O R T I N G B A N K S CHICAGO YORK C I T Y 4.0 21.4 TAX AND D I V I D E N D M A T U R I T I E S ) 4.7 29.5 .3 .7 IN D E N O M I N A T I O N OF $100,000 OR MORE I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . APPENDIX A . 3/ S A L E S OF C D ' S M A T U R I N G AFTER 11 M O N T H S . http://fraser.stlouisfed.org/ * T O T A L S MAY NOT A D D DUE TO R O U N D I N G . Federal Reserve Bank of St. Louis 86.1 164.4 27.6 45.6 e # # # e * # < T A B L E 2B 11 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 NEW YORK C I T Y , C H I C A G O , A N D ALL OTHER WEEKLY AS OF 27 M A Y 1 9 7 0 A N D 29 APR DEPOSIT AT ( REPORTING BANKS 1970 (PERCENTAGE D I S T R I B U T I O N ! NEW !• S M A T U R I N G IN 27 MAY 29 APR ALL OTHER CHICAGO YORK CITY 2 7 MAY 29 APR 27 MAY 29 APR 2.1 2.5 2.6 3.7 1.7 1.8 01 M O N T H S 3/ 26.2 24.4 25.7 27.5 22.9 18.3 02 MONTHS 19.6 20.3 23.1 20.9 16.9 16.9 0 3 MONTHS 15.7 14.6 10.8 15.0 9.3 14.3 0 4 MONTHS 6.6 7.7 7.4 1.9 6.0 5.7 05 MONTHS 4.3 4.9 3.2 6.8 6.9 5.7 06 M O N T H S 3.0 3.7 2.9 2.6 3.8 6.5 0? MONTHS 3.2 1.8 1.9 1.0 2.1 1.7 08 MONTHS 1.3 2.9 3.0 1.8 4 .7 1.9 09 MONTHS 2.1 1.1 3.0 2.8 4.7 4.6 10 M O N T H S 4.5 1.9 6.4 2.7 6.0 4.7 11 M O N T H S 9.9 4.1 5.7 6 .0 8.1 6.0 12 M O N T H S .8 00 00 2.5 5.3 3.1 CO r- .8 1.2 1.8 CM # 3.9 4.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2/ OVER 12 M O N T H S TOTAL * 100.0 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 $ 1 0 0 , 0 0 0 OR M O R E ISSUED BY W E E K L Y R E P O R T I N G BANKS. 2/ N U M B E R OF DAYS R E M A I N I N G IN SURVEY MONTH. T H I S F O L L O W I N G THE L A S T WEDNESDAY OF THE M O N T H . 3/ N U M B E R OF M O N T H S F O L L O W I N G THE * T O T A L S M A Y NOT A D D DUE SURVEY M O N T H . TO R O U N D I N G . P E R I O D V A R I E S WITH T H E N U M B E R OF D A Y S TABLE 2C 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 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 NEW YORK C I T Y , C H I C A G O , A N D A L L OTHER W E E K L Y R E P O R T I N G BANKS A S OF 2 7 MAY 1970 AND 29 APR 1970 (CUMULATIVE DISTRIBUTION) IN 29 APR 27 MAY 29 APR 2.1 2.5 2.6 3.7 1.7 1.8 01 M O N T H S 3 / 28.3 26.9 28.3 31.2 24.6 20.1 02 MONTHS 47.9 47.2 51.4 52.1 41.5 37.0 0 3 MONTHS 63.6 61.8 62.2 67.1 50.8 51.3 04 MONTHS 70.2 69.5 69.6 69.0 56.8 57.0 05 MONTHS 74.5 74.4 72.8 75.8 63.7 62.7 06 M O N T H S 77.5 78.1 75.7 78.4 67.5 69.2 07 MONTHS 80.7 79.9 77.6 79.4 69.6 70.9 08 MONTHS 82.0 82.8 80.6 81.2 74.3 72.8 09 MONTHS 84.1 83.9 83.6 84.0 79.0 77.4 10 M O N T H S 88.6 85.8 9 0 .0 86.7 85.0 82.1 11 M O N T H S 98.5 89.9 95.7 92 .7 93.1 88.1 12 M O N T H S 99.3 98.7 98.2 98.0 96.2 95.9 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2/ OVER 1/ 27 MAY 2 9 APR 27 M A Y ALL OTHER CHICAGO NEW YORK C I T Y )'S M A T U R I N G 12 M O N T H S I N C L U D E S 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 BANKS. $100,000 OR MORE ISSUED BY W E E K L Y R E P O R T I N G 2/ N U M B E R OF DAYS R E M A I N I N G IN S U R V E Y M O N T H . THIS PERIOD V A R I E S WITH THE N U M B E R OF D A Y S F O L L O W I N G THE L A S T W E D N E S D A Y OF THE M O N T H . -= 3/ N U M B E R OF M O N T H S F O L L O W I N G ^ THE SURVEY M O N T H . J # » • V • • • • + # * # U < # m # # # # 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 DEPOSIT AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 2/ AS OF 27 MAY 1970 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) T A B L E 3A — — $1 B I L L I O N A N D OVER - $200 MILLION A N D UNDER $200 M I L L I O N TO $500 M I L L I O N $500 M I L L I O N TO $1 B I L L I O N 241.3 19.8 40.8 41.1 JUNE 3,094.4 270.5 490.1 JULY 2,324.9 178. 9 AUGUST 1,399.5 SEPTEMBER CD'S MATURING IN TOTAL 1/ PRIME - 3/ OUTSIDE NEW YORK CITY NON-PRIME NEW Y O R K CITY 139.6 58.7 52.8 28.1 508.0 1,825.8 722.5 640.8 462.5 277.2 392.6 1,476.2 464.0 656.9 355.3 116.7 222.9 198.5 861.4 403.2 286.9 171.3 809.8 78.8 140.0 151.7 439.3 174.5 157.0 107.8 OCTOBER 798.6 69.7 131.2 131.5 466.2 111.8 247.0 107.4 NOVEMBER 461.6 51.3 104.7 81.8 223.8 81.7 67.6 74.5 DECEMBER 303.1 19.9 50.8 48.3 184.1 84.9 44. 8 54.4 495.3 40.8 144.9 129.3 180.3 33.7 96.3 50.3 FEBRUARY 524.9 52.0 90.1 122.1 260.7 56.9 150.5 53.3 MARCH 742.3 56.0 94.2 127.7 464.4 116.9 241.2 106.3 APRIL 1,087.1 64.2 137.0 151.0 734.9 250.4 310.4 174.1 MAY 327.2 42.2 83.6 63.4 138.0 21.5 75.6 40.9 JUNE OR LATER 402.9 21.7 58.6 84.4 238.2 23.5 151.6 63.1 13,012.9 1,082.5 2,066.1 2,231.4 7,632.9 2,604.2 3,179.4 1,849.3 1 9 7 0 MAY 28-31 1971 J A N U A R Y TOTAL * TOTAL TAX A N D D I V I D E N D M A T U R I T I E S ) 10 113.3 15.2 15.4 17.0 65.7 22.4 18.0 25.3 J U N E 15 285.4 22.3 35.9 47.5 179.7 88.9 50.1 40.7 12 18 JUNE (MEMORANDUM: 256 90 81 NUMBER OF B A N K S ) 48 37 1/ I N 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 OR MORE I S S U E D BY W E E K L Y R E P O R T I N G 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 C A L L REPORT OF CONDITION O N DECEMBER 3 1 , 1 9 6 5 . 3/ P R I M E BANKS A R E T H O S E 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 Q U A L I T Y A N D WHICH R E P O R T E D BY D E A L E R S TO T R A D E WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE S E C O N D A R Y M A R K E T . http://fraser.stlouisfed.org/ * T O T A L S M A Y NOT ADD DUE TO R O U N D I N G . Federal Reserve Bank of St. Louis ARE S A L E S / ! / OF TABLE 36 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 SINCE 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 BANKS BY SIZE OF BANKS 3/ AS OF 2 7 MAY 1970 ( A M O U N T S IN M I L L I O N S OF D O L L A R S ) $1 B I L L I O N A N D OVER - CD'S MATURING 1970 MAY IN TOTAL $200 MILLION A N D UNDER $200 M I L L I O N TO $500 MILLION $500 MILLION TO $1 BILLION 2/ PRIME 4 / - OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY TOTAL 28-31 JUNE 748.5 73.7 159.6 161.9 353.3 111.0 111.4 130.9 JULY 444.7 39.6 61.7 54.5 288.9 86.4 148.4 54.1 AUGUST 627.0 45.4 69.0 72.0 440.6 175.4 181.5 83.7 SEPTEMBER 79.4 2.2 8.5 11.0 57.7 36.6 10.4 10.7 OCTOBER 69,4 10.6 13.4 12.2 33.2 7.1 11.5 14.6 NOVEMBER 241.7 32.8 63.9 42.9 102.1 28.2 29.3 44.6 DECEMBER 28.8 4.5 8.2 3.6 12.5 2.0 3.8 6.7 21.0 1.0 14.4 1.2 4.4 2.4 0.7 1.3 FEBRUARY 10.0 0.9 2.4 0.6 6.1 0.5 4.6 1.0 MARCH 14.5 3.5 3.1 1.0 6.9 1.0 4. 8 1.1 APRIL 57.7 6.2 11.9 9.0 30.6 8.4 7.4 14.8 310.2 44.3 81.1 66.0 118.8 9.0 65.5 44.3 2,652.9 264.7 497.2 435.9 1,455.1 468.0 579.3 407.8 TAX A N D DIVIDEND M A T U R I T I E S ) 1971 J A N U A R Y MAY OR LATER TOTAL * t yc ynoAMniui* J U N E 10 31.9 4.7 7.8 5.0 14.4 3.8 3.1 7.5 JUNE 67.7 9.7 7.6 12.5 37.9 21.0 3.0 13.9 37 7 12 18 15 (MEMORANDUM: 256 81 90 KlilMRFD OF iMunDCix ur RAMifC dmmix o }# 48 —- 1/ SEE T E C H N I C A L A P P E N D I X A . 2/ I N 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 $ 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 B A N K S . 3 / T O T A L DEPOSITS AS R E P O R T E D IN THE CALL R E P O R T OF C O N D I T I O N O N DECEMBER 3 1 , 1 9 6 5 . 4/ P R I M E BANKS A R E T H O S E 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 O F T H E H I G H E S T Q U A L I T Y A N D WHICH 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 B A S I S P O I N T S OF EACH OTHER W I T H I N THE S E C O N D A R Y M A R K E T . T O T A L S M A Y N O T ADO DUE TO R O U N D I N G . Digitized for*FRASER # # # e # TABLE e # # # # # # 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 A T W E E K L Y R E P O R T I N G B A N K S BY S I Z E O F B A N K S 2/ AS OF 2 7 MAY 1 9 7 0 PERCENTAGE DISTRIBUTION 3C $1 CD'S MATURING 1970 1971 IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 M I L L I O N TO SI B I L L I O N # I/ BILLION AND OVER PRIME - TOTAL NEW YORK CITY 3/ OUTSIDE NEW Y O R K CITY NON-PRIME 1.9 1.8 2.0 1.8 1.8 2.3 1.7 1.5 JUNE 23.8 25.0 23.7 22.8 23.9 27.7 20.2 25.0 JULY 17.9 16.5 13.4 17.6 19.3 17.8 20.7 19.2 AUGUST 10.8 10.8 10.8 8.9 11.3 15.5 9.0 9.3 SEPTEMBER 6.2 7.3 6.8 6.8 5.8 6.7 4.9 5.8 OCTOBER 6.1 6.4 6.4 5.9 6.1 4.3 7.8 5.8 NOVEMBER 3.5 4.7 5.1 3.7 2.9 3.1 2.1 4.0 DECEMBER 2.3 1.8 2.5 2.2 2.4 3.3 1.4 2.9 JANUARY 3.8 3.8 7.0 5.8 2.4 1.3 3.0 2.7 FEBRUARY 4.0 4.8 4.4 5.5 3.4 2.2 4.7 2.9 MARCH 5.7 5.2 4.6 5.7 6.1 4.5 7.6 5.7 APRIL 8.4 5.9 6.6 6.8 9 .6 9.6 9.8 9.4 MAY 2.5 3.9 4.0 2.8 1.8 0.8 2.4 2.2 JUNE OR L A T E R 3.1 2.0 2.8 3.8 3.1 0.9 4.8 3.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MAY TOTAL 28-31 * AND DIVIDEND MATURITIES) 10 0.9 1.4 0.7 0.8 0.9 0.9 0.6 1.4 J U N E 15 2.2 2.1 1.7 2.1 2.4 3.4 1.6 2.2 JUNE 1/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF * 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 T C T A L S M A Y N O T A C C C U E TO R O U N D I N G . $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y REPORTING BANKS. AND 2 B A S I S P O I N T S OF EACH OTHER W I T H I N T H E SECONDARY MARKET. WHICH ARE 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 DEPOSIT 1 / A T W E E K L Y R E P O R T I N G BANKS BY S I Z E OF BANKS 2/ AS OF 27 MAY 1970 C U M U L A T I V E PERCENTAGE T A B L E 3D $1 BILLION A N D O V E R CD'S MATURING IN TOTAL $200 MILLION A N D UNDER $200 MILLION TO $500 M I L L I O N $500 M I L L I O N TO $1 B I L L I O N PRIME TOTAL NEW Y O R K CITY 3/ NON-PRIME OUTSIDE NEW YORK CITY 1.9 1.8 2.0 1.8 1.8 2.3 1.7 1.5 JUNE 25.7 26.8 25.7 24.6 25.7 30.0 21.9 26.5 JULY 43.6 43.3 39.1 42.2 45.0 47.8 42.6 45.7 54.4 54.1 49.9 51.1 56.3 63.3 51.6 55.0 AUGUST SEPTEMBER 60.6 61.4 56. 7 57.9 62.1 70.0 56.5 60.8 OCTOBER 66.7 67.8 63.1 63.8 68.2 74.3 64.3 66.6 NOVEMBER 70.2 72.5 68.2 67.5 71.1 77.4 66.4 70.6 DECEMBER 72.5 74.3 70.7 69.7 73.5 80.7 67.8 73.5 76.3 78. 1 77.7 75.5 75.9 82.0 70.8 76.2 FEBRUARY 80. 3 82.9 82.1 81.0 79.3 84.2 75.5 79.1 MARCH 86.0 88.1 86.7 86.7 85.4 88.7 83.1 84.8 94.4 94.0 93.3 93.5 95.0 98.3 92.9 94.2 APRIL 96.9 97.9 97.3 96.3 96.8 99.1 95.3 96.4 MAY 100.0 100.0 100.0 100.0 100 .0 100.0 100.0 100.0 1 9 7 0 MAY 28-31 1971 J A N U A R Y JUNE OR LATER b http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis - -ARE •r e # # # # e # * < # # TABLE 3E SALES /!/ OF 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 SINCE P R E V I O U S M O N T H 2/ AT WEEKLY R E P O R T I N G BANKS BY S I Z E OF BANKS 3/ AS O F 27 MAY 19 70 PERCENTAGE DISTRIBUTION SI B I L L I O N A N D OVER C D # S MATURING 1 9 7 0 MAY $200 IN TOTAL MILLION A N D UNDER $200 M I L L I O N TO $500 M I L L I O N $500 M I L L I O N TO $1 B I L L I O N PRIME 4/ NEW YORK CITY OUTSIDE NEW YORK CITY TOTAL NON-PRIME 28-31 JUNE 28. 2 27.8 32.1 37.1 24.3 23.7 19.2 32.1 JULY 16.8 15.0 12.4 12.5 19.9 18.5 25.6 13.3 AUGUST 23.6 17.2 13.9 16.5 30.3 37.5 11.3 20.5 SEPTEMBER 3.0 0.8 1.7 2.5 4.0 7.8 1.8 2.6 OCTOBER 2.6 4.0 2.7 2.8 2.3 1.5 2.0 3.6 NOVEMBER 9.1 12.4 12.9 9.8 7.0 6.0 5.1 DECEMBER 1.1 1.7 1.6 0.8 0.9 0.4 0.7 0.8 0.4 2.9 0.3 0.3 0.5 FEBRUARY 0.4 0.3 0.5 0.1 0.4 MARCH 0.5 1.3 0.6 0.2 0.5 0.1 0.2 APRIL 2.2 2.3 2.4 2.1 2.1 1.8 11.7 16.7 16.3 15.1 8.2 1.9 100.0 100.0 100.0 1971 JANUARY MAY OR L A T E R TOTAL * CMEMORANDUM: J U N E 10 J U N E 15 1.2 2.6 100.0 TAX 1/ 2/ 3/ 4/ 1.6 0.1 0.8 0.2 0*8 0.3 1.3 3.6 11.3 10.9 100.0 100.0 100.0 100.0 AND DIVIDEND MATURITIES) 1.6 1.1 1.0 0.8 0.5 1.8 3.7 1.5 2.9 2.6 4.5 0.5 3.4 90 N U M B E R OF 81 BANKS) 48 37 12 SEE T E C H N I C A L A P P E N D I X A . I N 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 OR MORE I S S U E D BY WEEKLY R E P O R T I N G B A N K S . T O T A L D E P O S I T S AS R E P O R T E D IN THE C A L L REPORT OF C O N D I T I O N ON D E C E M B E R 31, 1965. P R I M E BANKS A R E THOSE 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 ARE R E G A R D E D AS BEING OF THE H I G H E S T Q U A L I T Y A N D WHICH R E P O R T E D BY D E A L E R S TO T R A D E WITHIN 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 . Digitized for* FRASER T O T A L S M A Y N O T ADD DUE TO R O U N D I N G . 0.3 1.8 (MEMORANDUM: 256 10.9 18 ARE T A B L E 4A A V E R A G E MATURITY 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 DEPOSIT 1/ AT WEEKLY R E P O R T I N G BANKS AT V A R I O U S S U R V E Y D A T E S U H TONTHSI D A T E OF SURVEY BANK CLASSIFICATION 27 MAY 1970 25 M A R 29-APR 1970 I BY 1970 LOCATION! ALL REPORTING BANKS 4»* 4.4 4.1 3.7 5.7 3.8 CHICAGO s.e 3^.6 3.2 OTHER 4& 4.7 4^.3 ISSUING CO*S NEW YORK C I T Y I BY S I Z E OF B A N K ) 2/ UNDER *200 MILLION 4.2 4.1 3.8 * 2 0 0 - $ % 0 MILLION 4.5 4*4 4.1 $*00~$1,000 MILLION 4.5 4.7 4*3 OVER 4.3 4.3 4.1 3/ 3.7 3.7 3.8 YORK CITY 3/ 4.7 4.8 4.5 4.3 4.4 3.8 SI B I L L I O N P R I M E IN N E W YORK C I T Y P R I M E O U T S I D E NEW NON-PRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS # IN D E N O M I N A T I O N S OF AS R E P O R T E D # $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY R E P O R T I N G B A N K S . IN THE CALL REPORT OF C O N D I T I O N ON DECEMBER 31, # # # # 1965. # # e # # e e # e * # TABLE 48 A V E R A G E MATURITY OF 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/ SOLD BY WEEKLY R E P O R T I N G BANKS DURING THE M O N T H OF VARIOUS S U R V E Y S IIN M O N T H S ) BANK CLASSIFICATION ~*~ — ~ ~ ~ — — — — — — — 2 7 M A Y 1970 DATE OF S U R V E Y — — — — — — — — — — — — — - - *—————————————— 2 9 - A P R 1970 25 MAR 1970 I BY L O C A T I O N ! ALL R E T O R T I N G B A N K S ISSUING C D ' S 3.6 4.8 5.4 2.7 3.8 5.6 CHICAGO 3.1 4.7 3.4 OTHER 3.9 5.1 5.5 NEW YORK C I T Y (BY S I Z E OF B A N K I 2/ UNDER $200 MILLION 4.3 4.6 4.9 $200-*500 MILLION 4.3 5.0 4.5 $500-$l,000 MILLION 3.7 5.1 5.0 OVER 3.3 4.7 5.7 P R I M E IN N E W YORK C I T Y 3/ 2.6 3.7 5.7 P R I M E O U T S I D E N E W YORK C I T Y 3 / 3.5 5.0 6.4 NON-PRIME 3.7 5.2 4.4 $1 B I L L I O N 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 $ 1 0 0 , 0 0 0 OR M O R E ISSUED BY W E E K L Y 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 C A L L R E P O R T OF C O N D I T I O N ON DECEMBER 3 1 , 3/ P R I M E BANKS A R E T H O S E W H O S E NEGOTIABLE C E R T I F I C A T E S OF D E P O S I T REPORTING BANKS. 1965. ARE R E G A R D E D AS B E I N G O F T H E HIGHEST Q 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 TRADE WITHIN 1 OR 2 B A S I S POINTS OF E A C H O T H E R W I T H I N THE S E C O N D A R Y M A R K E T . http://fraser.stlouisfed.org/ WiTF-<~SFF TFCM*llf.*t A F P F N M * B . Federal Reserve Bank of St. Louis e T A B L E 5A R A T I O 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 O F D E P O S I T TO TOTAL 1/ DEPOSITS AT V A R I O U S SURVEY DATES (PER CENT) DATE OF S U R V E Y TOTAL D E P O S I T S 2/ (IN M I L L I O N S OF D O L L A R S ) ALL B A N K S CD'S 27 MAY 1970 ISSUING 6.2 6.2 5.7 6.6 6.1 200 - 500 7.0 6.6 5.9 500 - 1000 6.1 6.0 5.9 5.2 6.1 5.7 5.2 5.6 5.5 6.1 6.2 5.6 7.3 7.0 6.3 1000 IN N E W Y O R K 37 3/ NONPRIME 1/ I N 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 2/ T O T A L D E P O S I T S AS R E P O R T E D 1970 6.9 PRIME OUTSIDE NEW YORK NOTE- 25 MAR 200 PRIME Z\"cl 1970 UNDER OVER 3/ 29 APR $ 1 0 0 , 0 0 0 OR IN THE C A L L R E P O R T OF MORE ISSUED BY W E E K L Y R E P O R T I N G B A N K S . CONDITION ON D E C E M B E R 31, 1965. ARE*REPORTED0BY DEALERS^To'TRADE D E P O S I T S IN T H E D E N O M I N A T O R OF THE R A T I O IN THIS TABLE ARE T O T A L D E M A N D A N D TIME D E P O S I T S , INCLUDING INTERBANK A N D U . S . G O V E R N M E N T D E P O S I T S . # # # e e » # m m m TABLE 5 B RATIO 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 DEPOSIT 1/ TO TOTAL D E P O S I T S AS OF 27 M A Y (NUMBER OF TOTAL D E P O S I T S 2/ (IN M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S ISSUING 5% OR LESS 1970 BANKS) 10 5 TO TO 15% 10% 20 TO 25% 15 TO 20% 25% OR MORE AVERAGE CD TO D E P O S I T R A T I O (PER C E N T ) 115 78 40 17 4 2 6.2 42 23 18 5 I 1 6.9 200 - 500 36 23 12 7 2 1 7.0 500 - 1000 24 13 8 2 1 0 6.1 13 19 2 3 0 o 4 3 0 0 0 0 5.2 P R I M E O U T S I D E N E W YORK 3/ 4 7 0 1 0 0 6.1 NONPRIME 5 9 2 2 0 0 7.3 OVER 1000 PRIME IN NEW Y O R K 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 D E P O S I T S A S R E P O R T E D IN THE CALL $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G REPORT OF C O N D I T I O N ON D E C E M B E R 31# >c 200 o UNDER BANKS. 1965. 3/ P R I M E B A N K S A R E T H O S E 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 O F THE H I G H E S T Q U A L I T Y A N D W H I C H A R E R E P O R T E D BY D E A L E R S TO TRADE WITHIN I OR 2 BASIS P O I N T S OF EACH OTHER W I T H I N 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 T H E D E N O M I N A T O R OF THE R A T I O IN THIS T A B L E ARE T O T A L INTERBANK AND U.S. GOVERNMENT DEPOSITS. D E M A N D A N D T I M E D E P O S I T S , INCLUDING < TABLE 5 C PER 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 OF D E P O S I T /I 2 9 APR 1970 TO 2 7 MAY 1970 (NUMBER OF B A N K S ) I N C R E A S E S OF D E C L I N E S OF TOTAL D E P O S I T S 2/ (IN M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S ISSUING REDUCED C D ' S TO ZERO 0 1 0 % OR MORE 22 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 42 16 56 16 10% OR MORE 5 TO 10% 47 » 1 l.ll ISSUED C D ' S BUT H A D NONE O U T S T A N D ING ON BASE DATE 2 55 — — — — — — — — — 200 0 9 5 13 9 13 17 23 1 200 - 500 0 4 4 12 6 23 14 17 1 500 - 1000 0 5 4 10 1 7 11 10 0 OVER 0 4 3 7 0 13 5 5 0 0 3 1 0 0 1 1 1 0 PRIME O U T S I D E NEW YORK 3/ 0 1 0 4 0 5 2 0 0 NONPRIME 0 0 2 3 0 7 2 4 0 UNDER 1000 PRIME IN N E W YORK 3/ 1/ I N 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 2/ T O T A L D E P O S I T S AS R E P O R T E D ~" 6 - s s $100,000 OR MORE I S S U E D BY WEEKLY R E P O R T I N G B A N K S . IN THE C A L L REPORT OF CONDITION ON DECEMBER 31, 1 9 6 5 . 6 *"KS # # # # e t e # 4 e TABLE 50 PER 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 TIME C E R T I F I C A T E OF D E P O S I T Z1 25 F E B 1 9 7 0 TO 2 7 MAY 1970 (NUMBER OF TOTAL D E P O S I T S Z2 (IN M I L L I O N S O F D O L L A R S ) ALL REDUCEO CD* S 25% TO OR MORE ZERO BANKS ISSUING CD' S BANKS 1 I N C R E A S E OF D E C L I N E S OF 10 15 TO 20 TO 25% 2 0% TO 15% 1C 5 TO 10% 5% OR LESS 11 10 NO CHANGE 5% OR LESS 10 5 TO 10% 20 TO 25% 15 TO TO 15% 20% 25% OR MORE 15 20 23 22 19 109 ISSUED C D ' S BUT H A D NONE OUTSTANDING ON BASE DATE UNDER 200 I 3 0 1 1 8 4 1 5 7 8 2 7 40 3 2 0 0 - 500 1 3 2 0 0 1 3 3 7 5 10 8 8 30 0 500 - 1 2 0 1 1 0 3 1 2 5 3 7 3 20 0 0 2 0 1 1 2 0 0 1 3 2 5 1 19 0 0 2 0 1 0 0 0 0 0 0 0 2 0 2 0 P R I M E O U T S I D E NEW Y O R K 3/ 0 0 0 0 1 0 0 0 0 2 2 0 1 6 0 N0NPR1ME 0 0 0 0 0 2 0 0 1 1 0 3 0 11 0 OVER 1000 1000 PRIME IN NEW YORK 3/ 1/ I N 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 SI00f000 2/ T O T A L D E P O S I T S A S R E P O R T E D IN THE C A L L REPORT OR MORE ISSUED BY W E E K L Y R E P O R T I N G B A N K S . OF C O N D I T I O N ON DECEMBER 31, 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 B E I N G OF THE 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 BY D E A L E R S TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH O T H E R WITHIN THE S E C O N D A R Y M A R K E T . NOTE- T H E N U M B E R OF BANKS IN THIS TABLE 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 THE EXTENT THAT 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 ON THE SURVEY THREE M O N T H S PRIOR TO T H E C U R R E N T S U R V E Y , R E D U C E D THEIR OUTSTANDINGS TO ZERO. TABLE 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 OVER THE M O N T H AS A PER CENT OF TOTAL AT THE B E G I N N I N G 1/ DEPOSITS OF THE PERIOD 2 9 APR 1970 TO 2 7 MAY 1970 (NUMBER OF TOTAL I N C R E A S E S OF D E C L I N E S OF D E P O S I T S 2/ 3% AND OVER IIN M I L L I O N S OF D O L L A R S ) ALL BANKS) B A N K S ISSUING CD'S 1% 1 TO 2 TO 33 ANO LESS 2% NO CHANGE 1% AND LESS 3% AND OVER 2 TO 1 TO 3% 2% 2 2 3 75 16 132 15 6 3 UNDER 200 1 1 1 25 9 39 8 4 1 200 - 500 1 0 0 20 6 46 3 2 2 500 - 0 0 0 19 1 25 3 0 0 0 1 2 11 0 22 1 0 0 0 1 1 2 0 3 0 0 0 0 0 1 4 0 7 0 0 0 0 0 0 5 0 12 1 0 0 OVER 1000 1000 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3/ NONPRIME 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 DEPOSITS AS REPORTED $100*000 OR MORE ISSUED BY WEEKLY R E P O R T I N G IN THE C A L L REPORT OF C O N D I T I O N ON D E C E M B E R 31, BANKS. 1965. 3/ P R I M E B A N K S A R E T H O S E 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 O F THE 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 BY D E A L E R S TO TRADE WITHIN 1 O R 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 T H E D E N O M I N A T O R OF THE R A T I O IN T H I S T A B L E ARE TOTAL INTERBANK A N D U . S . G O V E R N M E N T D E P O S I T S . DEMAND AND TIME DEPOSITS, INCLUDING TABLE 5 F 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 MONTHS AS A PER CENT O F TOTAL D E P O S I T S AT THE B E G I N N I N G CF THE PERIOD 25 FEB 1970 TO 2 7 MAY 1970 (NUMBER OF TOTAL DEPOSITS 2/ (IN M I L L I O N S OF D O L L A R S ) D E C L I N E S OF 5% AND OVER ALL BANKS CD'S ISSUING BANKS 1 4 TO 5% 3 TO 4% I N C R E A S E S OF 1% 1 TO 2 TO 3* AND LESS 2% NO CHANGE 1% AND UNDER 3 TO 4% 2 TO 3% I TO 2% 5% AND OVER 4 TO 5% 0 0 1 2 9 27 5 83 52 33 19 5 16 UNDER 200 0 0 0 1 4 12 1 25 11 14 10 2 7 200 - 500 0 0 1 I 2 5 3 32 16 11 3 1 5 500 - 1000 0 0 0 0 0 7 1 17 11 6 4 0 2 0 0 0 0 3 3 0 9 14 2 2 2 2 3/ 0 0 0 0 3 0 0 1 1 1 1 0 0 YORK 3/ 0 0 0 0 0 1 0 4 4 1 1 I 0 0 0 0 0 0 2 0 4 9 0 0 1 2 OVER 1000 PRIME IN NEW YORK PRIME O U T S I D E NEW NONPRIME 1/ I N 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 2/ TOTAL $ 1 0 0 , 0 0 0 OR MORE ISSUED BY W E E K L Y R E P O R T I N G B A N K S . D E P O S I T S A S R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1965. 3/ PRIME B A N K S A R E T H O S E WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT A R E R E G A R D E D AS BEING O F T H E 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 DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N 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 T H E D E N O M I N A T O R OF THE R A T I O IN THIS T A B L E A R E T O T A L INTERBANK AND U . S . GOVERNMENT DEPOSITS. DEMAND AND TIME DEPOSITS, 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 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 O F DEPOSIT AT WEEKLY R E P O R T I N G BANKS BY F E D E R A L R E S E R V E DISTRICT 1/ AS OF 2 7 MAY 1970 CAMOUNTS IN MILLIONS OF D O L L A R S ) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 30.5 3.0 0.7 4.3 25. 0 42.8 131.4 389.7 71.7 11.4 95.0 233.0 685.8 35.7 72.3 303.8 35.7 19.4 40.8 230.6 505.6 72.1 36.7 77.3 185.0 28.6 7.7 20.6 93.4 255.1 21.6 54.8 43.8 38.6 115.5 18.2 6.3 20.1 68.7 123.1 177.9 28.3 134.3 36.7 42.8 74.0 16.4 3.9 18.4 70.4 142.3 24.2 121.1 24.6 17.7 15.2 42.4 64.5 10.5 3.8 17.2 35.3 85.2 303.1 7.3 125.5 5.6 16.1 14.9 5.3 35.2 2. 1 2.1 13.6 30.5 44.9 1971 J A N 495.2 22.7 57.1 8.5 20.9 67.2 34.2 67.7 8.2 2.0 14.9 92.0 99.8 FEB 524.9 13.6 82.8 6.8 46.4 22.5 30.1 67.3 43.6 2.6 13.7 50. 1 145.4 MAR 742.5 16.7 167.5 13.5 37.1 31.5 25.2 101.7 13.6 4.2 17.6 66. 5 247.4 APR 1087.1 18.6 349.0 18.1 107.7 16.1 30.8 120.5 19.6 6.8 25.0 72.4 302.5 MAY 327.2 5.8 37. 5 6. 8 48.3 10.2 21.1 46.8 21.8 9.8 13.1 31.0 75.0 J U N OR LATER 402.9 4.8 55.4 7.7 101.3 16.2 37.5 46.0 27.3 2.7 9.3 10.1 84.6 13013.1 551.1 3805.9 283.4 989.6 455.4 603.7 1648.2 320.3 83.4 323.6 1109.0 2839.5 AVERAGE MATURITY IN M O N T H S 2/ 4.3 3.1 3.7 4.2 5.5 4.8 4. 6 4.2 5.5 5.2 4.5 4.3 4.7 NUMBER OF R E P O R T I N G BANKS 256 17 46 10 18 14 23 36 11 5 20 24 32 ALL DISTRICTS BOSTON 241.2 9.3 JUN 3094.3 JUL CD'S MATURING IN CLEVELAND 75.4 2.6 16.3 16.6 14.7 174.9 1027.6 60.8 120.9 92.1 2325.0 116.5 719.7 49.2 195.7 AUG 1399.3 50.4 543.1 29.3 SEP 810.1 33.1 266.3 OCT 798.6 53.2 NOV 461.7 DEC 1970 MAY 28 -MAY 31 TOTAL * 1/ RICHATLANTA MOND PHILADELPHIA INCLUDES ONLY C E R T I F I C A T E S NEW YORK CHICAGO ISSUED IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E BY WEEKLY R E P O R T I N G B A N K S . 2/ SEE T E C H N I C A L A P P E N D I X B . • D E T A I L S M A Y N O T ADO TO T O T A L S DUE TO R O U N D I N G . T A B L E 6B 1/ SALES OF N E G O T I A B L E 2/ TIME C E R T I F I C A T E S OF DEPOSIT S I N C E P R E V I O U S M O N T H WEEKLY REPORTING BANKS BY F E D E R A L R E S E R V E DISTRICT AS OF 27 MAY 1970 C A M O U N T S IN MILLIONS OF DOLLARS > ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 67.9 8.6 2.4 29.1 48.3 177.1 10.2 67.1 1.0 9.4 9.4 19.6 146.2 12.3 33.4 87.3 8.0 3.0 7.7 35. 8 132.4 1.5 1.1 3.0 4.0 1.5 0.1 0.5 0. 8 11.6 5.7 3.0 1.7 4.1 8.5 0.9 0.5 1.2 6. 7 21.7 50.9 12.4 9.1 6.2 29.7 32.8 5.4 1.5 10.0 23.8 51.3 1.8 4.7 2.1 1.6 0.4 0.7 2.6 0.5 0.1 5.2 1. 0 8.1 21.5 0.0 3.1 0.0 5.9 0.0 6.7 0.2 0.1 0.1 1.6 1.2 2.6 FEB 10.0 0.0 2.0 0.0 0.3 0.6 0.0 2.3 0.1 0.1 0.0 0.1 4.5 MAR 15.1 0.2 3.7 0.0 0.9 0.0 2.5 0.4 0.2 0.7 0. 5 1.1 4.9 APR 58. 9 0.5 18.4 0.7 4.4 1.0 3.4 4.0 0.4 0.5 3.5 2.8 19.3 310.3 6.4 26.6 8.9 43.3 9.2 23.3 44.2 18.1 5.0 17.2 31.1 77.0 2655.6 101.8 766.5 103.0 135.1 76.8 168.0 321.3 44.8 23.4 85.9 172.3 656.7 3.6 2.6 2.7 3.4 5.7 3.1 4.2 3.7 6.4 4.6 4.7 4.3 3.6 ALL DISTRICTS BOSTON 1 9 7 0 JUN 748.5 46.4 JUL 444.6 AUG CD'S MATURING IN CLEVELAND 221.7 25.9 32.6 37.5 51.0 9.0 128.2 19.5 18.2 6.8 626.8 21.7 252.3 18.6 14.3 SEP 79.6 3.8 42.5 9.2 OCT 69.4 3.0 12.4 NOV 242.1 9.0 DEC 28.8 1971 J A N M A Y OR LATER TOTAL * AVERAGE MATURITY IN M O N T H S 3/ 1/ SEE TECHNICAL INCLUDES ONLY CERTIFICATES 3/ SEE T E C H N I C A L A P P E N D I X ISSUED IN D E N O M I N A T I O N S OF B. DETAILS MAY NOT A D D TO T O T A L S DUE TO R O U N D I N G . CHICAGO APPENDIX A . 2/ * RICHATLANTA MOND PHILADELPHIA NEW YORK $100*000 OR M O R E BY W E E K L Y REPORTING BANKS. 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 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 O F AT W E E K L Y R E P O R T I N G BANKS BY F E D E R A L R E S E R V E DISTRICT DEPOSIT 1/ AS OF 2 7 MAY 1 9 7 0 (PERCENTAGE D I S T R I B U T I O N ! ALL DISTRICTS BOSTON 1.9 1.7 JUN 23.8 JUL CD'S MATURING IN RICHATLANTA MOND CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO PHILADELPHIA CLEVELAND 2.0 0.9 1.6 3.6 2.4 1.9 0.9 0.8 1.3 2.3 1.5 31.7 27.0 21.5 12.2 20.2 21.8 23.6 22.4 13.7 29.4 21.0 24.2 17.9 21.1 18.9 17.4 19.8 7.8 12.0 18.4 11.1 23.3 12.6 20. 8 17.8 AUG 10.8 9.1 14.3 10.3 7.3 8.1 12.8 11.2 8.9 9.2 6.4 8.4 9,0 SEP 6.2 6.0 7.0 7.6 5.5 9.6 6.4 7.0 5.7 7^6 6.2 6. 2 4.3 OCT 6.1 9.7 4.7 10.0 13.6 8.1 7.1 4.5 5.1 4.7 5.7 6.3 5.0 NOV 3.5 4.4 3.2 8.7 1.8 3.3 7.0 3.9 3.3 4.6 5.3 3.2 3.0 DEC 2.3 1.3 3.3 2.0 1.6 3.3 0.9 2.1 0.7 2.5 4.2 2. 8 1.6 1971 J A N 3.8 4.1 1.5 3.0 2.1 14.8 5.7 4.1 2.6 2.4 4.6 8. 3 3.* FEB 4.0 2.5 2.2 2.4 4.7 4.9 5.0 4.1 13.6 3.1 4.2 4.5 5.1 MAR 5.7 3.0 4.4 4.8 3.7 6.9 4.2 6.2 4.2 5.0 5.4 6.0 8.7 APR 8.4 3.4 9.2 6.4 10.9 3.5 5.1 7.3 6.1 8.2 T.7 6.5 10.7 MAY 2.5 1.1 1.0 2.4 4.9 2.2 3.5 2.8 6.8 11.8 4.0 2. 8 2.6 J U N OR LATER 3.1 0.9 1.5 2.7 10.2 3.6 6.2 2.8 8.5 3.2 2.9 0. 9 3.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 too. 0 100.0 1970 MAY 28- MAY 31 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 NEW YORK 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 W E E K L Y R E P O R T I N G B A N K S . TABLE 60 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 NEGOTIABLE T I M E C E R T I F I C A T E S OF D E P O S I T 1/ A T 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 AS OF 2 7 MAY 1970 (CUMULATIVE PERCENTAGE! ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 1.9 0.9 0.8 1.3 2.3 1.5 24.2 25.5 23.3 14.5 30.7 23.3 25.7 31.6 36.2 43.9 34.4 37.8 43.3 44.1 43.5 40.9 39.7 49.0 55.1 43.3 47.0 49.7 52.5 52.5 57.7 46.4 49.3 55.4 62.1 49.0 54.6 55.9 58.7 56.8 73.9 67.7 60.0 57.4 62.5 66.6 54.1 59.3 61.6 65.0 61.8 83.7 77.1 76.4 61.8 60.7 69.5 70.5 57.4 63.9 66.9 68.2 64.8 72.5 85.0 80.4 78.4 63.4 64.0 70.4 72.6 58.1 66.4 71.1 71.0 66.4 JAN 76.3 89.1 81.9 81.4 65.5 78.8 76.1 76.7 60.7 68.8 75.7 79. 3 69.9 FEB 80.3 91.6 84.1 83.8 70.2 83.7 81.1 80.8 74.3 71.9 79.9 83.8 75.0 MAR 86.0 94.6 88.5 88.6 73.9 *0.6 85.3 87.0 78.5 76.9 85.3 89.8 83.7 APR 94.4 98.0 97.7 95.0 84.8 94.1 90.4 94.3 84.6 85.1 93.0 96.3 94.4 MAY 96.9 99.1 98.7 97.4 89.7 96.3 93.9 97.1 91.4 96.9 97.0 99.1 97.0 100 .0 100. 0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100 .0 100.0 100. 0 100.0 ALL DISTRICTS BOSTON 1.9 1.7 JUN 25.7 JUL MATURING IN CLEVELAND 2.0 0.9 1.6 3.6 2.4 33.4 29.0 22.4 13.8 23.8 43.6 54.5 47.9 39.8 33.6 AUG 54.4 63.6 62.2 50.1 SEP 60.6 69.6 69.2 OCT 66.7 79.3 NOV 70.2 DEC MAY 2 8-M A Y 31 J U N O R LATER 1/ RICHMOND ATLANTA PHILADELPHIA NEW YORK I N C L U D E S O N L Y C E R T I F I C A T E S ISSUED IN D E N O M I N A T I O N S OF CHICAGO < 1 0 0 , 0 0 0 OR M O R E BY WEEKLY R E P O R T I N G B A N K S . TABLE 6E 1/ 2/ SALES OF 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 S I N C E P R E V I O U S M O N T H WEEKLY R E P O R T I N G B A N K S BY FEDERAL R E S E R V E D I S T R I C T AS OF 2? MAY 1970 (PERCENTAGE D I S T R I B U T I O N ) CD* S M A T U R I N G IN ALL DISTRICTS BOSTON 1970 JUN 28.2 45.6 JUL 16.7 AUG ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 21.1 19.2 10.3 33.9 28.0 27.0 6.1 20.9 2.2 40.2 10.9 11.4 22.3 16.0 19.9 27.2 17.9 12.8 9.0 20. 8 20.2 1.1 1.4 1.8 1.2 3.3 0.4 0.6 0.5 1.8 5.5 2.2 2.2 2.4 2.6 2.0 2.1 1.4 3.9 3.3 6.6 12.0 6.7 8.1 17.7 10.2 12.1 6.4 11.6 13.8 7.8 1.8 0.6 2.0 1.2 0.5 0.4 0.8 1.1 0.4 6.1 0.6 1.2 0.8 0.0 0.4 O.O 4.4 0.0 4.0 0.1 0.2 0.4 1.9 0.7 0.4 FEB 0.4 0.0 0.3 0.0 0.2 0.8 0.0 0.7 0.2 0.4 0.0 0.1 0.7 MAR 0.6 0.2 0.5 O.O 0.7 0.0 1.5 0.1 0.4 3.0 0.6 0.6 0.7 APR 2.2 0.5 2.4 0.7 3.3 1.3 2.0 1.2 0.9 2.1 4.1 1.6 2.9 11.7 6. 3 3.5 8.6 32.1 12.0 13.9 13.a 40.4 21.4 20.0 18.0 lt.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHI L A DELPHIA CLEVELAND 28.9 25.1 24.1 48.8 30.4 8. 8 16.7 18.9 13.5 8.9 23.6 21.3 32.9 18.1 10.6 SEP 3.0 3.7 5.5 8.9 OCT 2.6 2.9 1.6 NOV 9.1 8.8 DEC 1.1 1*71 J A N M A Y O R LATER TOTAL * NEW YORK RICHMONO ATLANTA CHI— CAGO 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 regulation's is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month--after the survey date--are assumed to mature in the middle of the period between the.survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD"s outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD's mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were Issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce 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.
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