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L.4.1 CONFIDENTIAL (FR) August 16, 1972 FEDERAL RESERVE BANK of KANSAS CITY AUG 2 1 1972 — Reseonk l i f c r a q r * SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF July 26, 1972 NOTE: Sales since the previous survey and comparisons with previous data reflect revisions in the June report whereby $6.3 million in outstanding negotiable CD's have been eliminated from the series . # Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System # # # # # » TABLE MATURITY DISTRIBUTION OF OUTSTANDING WEEKLY AS 1 NEGOTlAtiLt REPORTING OF # # 26 JUL TIMt CERI IHCATFCS UH DEPUSIi'AT BANKS 1972 AMOUNT CD'S MATURING IN (MILLIONS OF DOLLARS) 1972 JULY 27 - 31 CUMULATIVE 1)1 S T R I B U T I O N PERCENTAGE SALES SINCE PREVIOUS MONTH (MILLIONS OF 5.6 5.6 .0 10,217.7 27.1 32.7 4,414.6 SEPTEMBER 6,468.9 17.2 49.9 1,823.1 OCTOBER 5,713.9 15.2 65.1 2,387.2 NOVEMBER 2,809.8 7.5 72.6 491.6 DECEMBER 2,812.1 7.5 8C. 1 518.2 JANUARY 2,575.5 6.8 86.9 1,024.1 FEBRUARY 783.4 2.1 89.0 68.7 MARCH 862. 3 2.3 91.3 118.6 APRIL 764.5 2.0 93.3 97.3 MAY 497.7 1 .3 94.6 21.5 JUNE 507.4 1.3 95.9 112.8 JULY 448.9 1 .2 97.1 468.0 1,125.1 3.0 100.0 XXX 37,704.9 100.0 XXX 11,545.7 OVER 12 MONTHS TOTAL (MEMORANDUM: TAX AND DIVIDEND MATURITIES) SEPTEMBER 11 493.4 1.3 XXX SEPTEMBER 15 137.9 1,319.3 3.5 XXX 356.9 1/ INCLUDES 2/ SEE 3/ SALES ONLY TECHNICAL OF CD'S CERTIFICATES IN APPENDIX A. MATURING AFTER DENOMINATIONS 11 MONTHS. OF *100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ DOLLARS 1 2,117.5 AUGUST 1973 PERCENTAGE 3/ TABLE 2A 1/ MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO, AS (IN NEW CD'S L<)7? 1973 MATURING JUL 27 IN - AMOUNT JUL 31 YORK NEGOTIABLE AND OF ALL 26 OTHER JUL MILLIONS OF CERTIFICATES WEEKLY REPORTING OF SALES SINCE MONTH AT BANKS DOLLARS) CHICAGO PREVIOUS DEPOSIT 1972 CITY 646 • 6 TIME AMOUNT 2/ ALL SALES SINCE PREVIOUS MONTH OTHER WEEKLY AMOUNT 2/ REPORTING SALES SINCE PREVIOUS MONTH .0 130.1 .0 1,340.7 .0 AUGUST 4,035.7 1,872.6 8 0 3 .8 283.8 5,378.2 2,258.2 SEPTEMBER 2,411.3 650.0 622.7 114.9 3,434.9 1,058.3 OCTOBER 2,104.2 874.0 551 .0 181.6 3,058.7 1,331.5 NOVEMBER 1,091.7 191.9 186.9 118.5 1,531.2 181.2 DECEMBER 976.9 137.8 205.7 97.7 1,629.6 2 82.7 JANUARY 922.2 317.6 126.3 80.3 1,526.9 626.1 FEBRUARY 226.4 26.5 32.8 .0 524.2 42.1 MARCH 167.8 41.8 30.2 2.9 664.4 73 .9 APRIL 133.9 17.9 15.3 1.7 615.3 77.7 MAY 82.4 5.3 12.1 .1 403.3 16.2 JUNE 35.9 16.8 34.2 4.7 43 7.4 91.3 JULY 48.9 23.9 4.5 8.1 395.5 436.0 244.8 XXX 40.9 XXX 839.5 XXX 13,128.7 4,176.1 2, 796.5 894.3 21,FF9.8 6,475.2 OVER 12 MONTHS TOTAL NUMBER OF * REPORTING BANKS /3 12 / 3 12 (MEMORANDUM: TAX AND 230 DIVIDEND MAIUR1T1ES) SEPTEMBER 11 179.0 60.0 45.1 8.6 269.3 69.4 SEPTEMBER 15 651.3 168.2 125.7 25.3 542.2 163.3 1/ INCLUDES 2/ SEE 3/ SALES ONLY TECHNICAL OF CD'S CERTIFICATES IN APPENDIX A. MATURING AFTER * TOTALS MAY NOT ADD DUE TO DENOMINATION 11 MONTHS. ROUNDING. OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING RANKS. BANKS /3 2/ TABLE MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO, AS OF 26 JUL ALL 1972 (PERCENTAGE r n e c uatiid t m h iki NEW __ 26 0—6 DAYS 2/ JUL OTHER AND 28 WEEKLY JUN REPORTING OF 1/ D E P O S I T AT BANKS 1972 CHICAGO JUN 26 JUL ALL 28 JUN 26 OTHER JUL 28 JUN 4.9 3.3 4.7 1.4 6.2 5.5 30.7 28.9 28.7 31.4 24. 7 2 7.8 MONTHS 02 MONTHS 18.4 17.7 22.3 19.7 15.8 14.9 03 MONTHS 16.0 14.4 19.7 19.2 14.0 11.3 04 MONTHS 8.3 10.0 6.7 14.0 7.0 8.2 05 MONTHS 7.4 7.3 7.4 2.6 7.5 6.4 06 MONTHS 7.0 6.8 4.5 4.1 7.0 6.4 07 MONTHS 1.7 4.9 1.2 1.7 2.4 4.3 08 MONTHS 1.3 1.6 1.1 1.2 3.1 2.3 09 MONTHS 1.0 1.0 .5 1 .0 2.8 2.8 10 MONTHS .6 .9 .4 .5 1.9 2.6 11 MONTHS .3 .6 1.2 .5 2.0 1.8 12 M O N T H S .4 .2 .2 1.1 1.8 1.7 1.9 2.2 1.5 1 .4 3.9 3.8 100.0 100.0 100.0 100.0 100.0 100. C OF- $ 1 0 0 , 0 0 0 OR 12 M O N T H S TOTAL * 1/ INCLUDES BANKS. 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 THE L A S T W E D N E S D A Y OF T H E M O N T H . 3/ NUMBER MONTHS * CERTIFICATES DISTRIBUTION) CITY 28 TIME 01 OVER 3/ YORK 2B NEG0T1ABLE AND • # # # # e e TOTALS OF MAY ONLY NOT CERTIFICATES ADD FOLLOWING DUE TO IN D E N O M I N A T I O N S THE SURVEY ROUNDING. MONTH. PERIOD MORE VARIES I S S U E D tiY W E E K L Y WITH THE NUMBER Oh REPORTING DAYS TABLE MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO, AS OF 26 NEGOTIABLE AND JUL ALL 1972 (CUMULATIVE NEW R N » <; M A R N O IMR: CITY JUN REPORTING 1/ DEPOSIT AT BANKS 1972 CHICAGO JUN 26 JUL OTHER ALL 28 JUN 26 JUL 28 JUN 3.3 4.7 1.4 6.2 5.5 35.6 32.2 3 3.4 32.8 30.9 33.3 MONTHS 54.0 49.9 55.7 52.5 46.7 48.2 03 MONTHS 70.0 64.3 75.4 71.7 60.7 59.5 04 MONTHS 78.3 74.3 82.1 6/.F bf.f 05 MONTHS 85.7 81.6 89.5 88.3 75.2 74.1 06 MONTHS 92.7 88.4 94.0 92.4 82.2 80.5 07 MONTHS 94.4 93.3 95.2 94.1 84.6 84.8 08 MONTHS 95. 7 94.9 96.3 95.3 87.7 87.1 09 MONTHS 96.7 95.9 96.8 96.3 90.5 89.9 10 MONTHS 97.3 96.8 97.2 96.8 92.4 92.5 11 MONTHS 97.6 97.4 98.4 97.3 94.4 94.3 12 MONTHS 98.0 97.6 98.6 96.2 96.0 100.0 100.0 100.0 100.0 100.0 100.0 OF OR MONTHS INCLUDES BANKS. 2/ NUMBER OF FOLLOWING DAYS REMAINING IN S U R V E Y M O N T H . T H I S THE LAST WEDNESDAY OF THE M O N T H . 3/ NUMBER MONTHS # OF ONLY CERTIFICATES # FOLLOWING IN THE # DENOMINATIONS SURVEY $100,000 PERIOD H. 02 00 4.9 MONTHS : 12 3/ 28 WEEKLY OF >6 00 . JUL 28 CERTIFICATES DISTRIBUTION! 1/ # 2/ AND TIME 01 OVER * IAYS D OTHER IW 26 0-6 YORK 2C MORE VARIES ISSUED WITH THE BY WEEKLY NUMBER OF MONTH. # # # # REPORTING DAYS TABLE 3A MATURITY 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 AT 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 OF B A N K S 2/ AS OF 2 6 JUL 1 9 7 2 ( 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 ) OF DEPOSIT $1 CD'S 1972 MATURING JUL IN 27-31 $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $500 $1 MILLION TO BILLION BILLION AND OVER PRIME TOTAL 3/ OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 2,117.5 177.5 3 4 7.5 397.8 1,194.7 613.0 321.4 260.3 10,217.6 727.0 1,335.9 1,604.3 6,550.4 3,755.3 1,580.1 1,215.0 SEPTEMBER 6,468.9 427.7 850.2 1,043.5 4,147.5 2,262.9 1,121.2 763.4 OCTOBER 5,713.8 291.3 713.4 849.7 3,859.4 1,999.1 1,157.5 702.8 NOVEMBER 2,809.8 162.8 34 7.3 459.4 1,840.3 1,027.1 490.8 322.4 DECEMBER 2,812.0 159.7 379.5 393.8 1,879.0 875.6 673.3 330.1 JANUARY 2,575.6 120.0 378.3 354.3 1,723.0 907.4 433.0 38 2 . 6 FEBRUARY 783.5 49.3 97.9 134.7 501.6 205.4 151.6 144.6 MARCH 862.3 58.0 101.6 154.5 548.2 165.2 191.4 191.6 APRIL 764.6 37.0 92.5 166.6 468.5 117.1 203.5 147.9 MAY 497.8 36.3 77,1 97.3 287. 1 73.1 126.9 87.1 JUNE 507.4 43.9 115.4 121.5 226.6 32.7 101.1 92.8 JULY 448.9 30.3 69.7 105.3 243.6 41.0 108.6 94.0 1,125.0 82.3 108.9 268.0 665.8 214.5 400.4 50.9 37,704.7 2,403.1 5,015.2 6,150.7 24,135.7 12,289.4 7,060.8 4,785.5 AUGUST 1973 TOTAL 1/ AUGUST OR L A T E R TOTAL * r AV A Kin nrur n c u n iv ui» n i , t nu m« muf\ I SEPTEMBER 11 493.5 36.0 66.5 88.4 302.6 172.7 SEPTEMBER 15 1,319.3 36.1 64.4 147.8 1,071.0 576.4 238.9 37 7 12 %' 254 1/ 2/ 3/ 86 r\H iiL/vn • 81 48.4 255.7 fUllMRf^D A M V Cj t i —reunocK flC ur U oapik 50 I N C L U D E S C E R T I F I C A T E S I N D E N O M I N A T I O N S O F $ 1 0 0 , 0 0 0 OR M O R E 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 T O T A L D E P O S I T S A S R E P O R T E D IN T H E C A L L R E P O R T OF C O N D I T I O N U N D E C E M B E R 3 1 , 1 9 6 5 . P R I M E B A N K S ARE T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T 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 O R 2 B A S I S P O I N T S O F E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . Digitized for RFRASER * T O T A L S M A Y N O T A D D DUE TO R O U N D I N G . til .5 QUALITY AND WHICH ARE TABLE SALES 3B Z1Z 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 AT 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 OF B A N K S 3/ AS (AMOUNTS OF IN 26 JUL MONTH 1972 MILLIONS OF DOLLARS) $1 $200 CD 1 S MATURING $200 $500 MILLION $500 BILLION ANDI OVER PRIME MILLION TO MILLION AND UNDER TOTAL IN 2/ $1 MILLION OUTSIDE IUFAL BILLION NEW YORK 1973 JUL NEW NON-PRIME YORK CITY CITY 1972 4/ TO 27-31 AUGUST 4,414.5 337.8 601.9 642.1 2,832.1 1,749.9 593.0 489.8 SEPTEMBER 1,823.1 126.1 247.3 392.6 1,057.1 637.7 229.6 189.8 OCTOBER 2,387.0 130.7 287.5 383.4 1,585.4 851.5 419.9 314.0 NOVEMBER 491.7 16.0 48.5 79.8 347.4 183.2 152.6 11.6 DECEMBER 518.0 30.2 81.6 68.3 337.9 135.2 174.8 27.9 1,024.2 54.3 171.5 174.6 623.8 309.2 179.4 135.2 68.B 4.0 L0.7 14.4 39.7 26.5 5.1 8.1 MARCH 118.7 5.4 14.9 26.1 72.3 41.9 20.9 9.5 A P R IL 97.4 7.0 9.0 40.6 40.8 17.7 6.2 16.9 MAY 21.7 0.5 8.3 Y.7 5.2 3.7 0.6 0.9 JUNE 112.8 8.2 19.9 27.3 57.4 16.6 21.2 19.6 JULY OR LATER 467.9 33.9 77.9 150.3 205.8 21.6 92.2 92.0 11,545.8 754.1 1,579.0 2,007.2 7,205.5 3,994.7 1,895.5 1,315.3 JANUARY FEBRUARY TOTAL * i r* n n a ki r%t i &A « AMH AINU nil/ U l V l1U fitwn c r i U MMAIIIQITTtQI AIUKIIitol .SEPTEMBER 11 138.1 13.1 19.4 21.9 83.7 57.7 16.9 9.1 SEPTEMBER 15 357.0 9.6 23.3 62.1 262.0 168.2 54.2 39.6 12 18 NUnDtK Ur OflNNo J 1 n cnui\«nuuri • 1/ 2/ SEE TECHNICAL APPENDIX A. INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF 3/ 4/ TOTAL PRIME R E P O R T OF C O N D I T I O N UN D E C E M B E R 31, 1965. CERTIFICATES OF DEPOSIT ARE R E G A R D E D AS BEING DEPOSITS AS R E P O R T E D IN T H E C A L L BANKS ARE THOSE WHOSE NEGOTIABLE REPORTED BY DEALERS * TOTALS MAY NOT ADD TO DUE TRADE TO WITHIN ROUNDING. 1 OR *100,000 2 BASIS OR MORE POINTS OF ISSUED EACH BY OTHER WEEKLY WITHIN / 37 50 81 86 254 REPORTING THE BANKS. OF THE SECONDARY HIGHEST MARKET. QUALITY AND WHICH ARE TABLE MATURITY 3C D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME CERTIFICATES AT W E E K L Y R E P O R T I N G B A N K S BY SIZE OF BANKS 2/ AS OF 26 PERCENTAGE JUL OF DEPOSIT 1/ 1972 DISTRIBUTION $1 BILLION AND OVER — $200 CD'S MATURING TOTAL IN $200 MILLION $500 MILLION AND UNDER $1 OUTSIDE TOTAL BILLION NEW 1972 1973 — — YORK NEW NON-PRIM YORK CITY CITY 5.0 4.6 5.4 26.6 26.1 27.1 30.6 22.4 25.4 17.8 17.0 17.0 17.2 18.4 15.9 16.0 12.1 14.2 13.8 16.0 16.3 16.4 14. 7 AUGUST 27.1 30.3 SEPTEMBER 17.2 OCTOBER 15.2 6.9 NOVEMBER 7.5 6.8 6.9 7.5 7.6 8.4 7.0 6.7 DECEMBER 7.5 6.6 7.6 6.4 7.8 7. 1 9.5 6.9 JANUARY 6.8 5.0 7.5 5.8 7.1 7.4 6. 1 8.0 FEBRUARY 2.1 2.1 2.0 2.2 2.1 1.7 2.1 3.0 MARCH 2.3 2.4 2.0 2.5 2.3 1.3 2.7 4.0 APRIL 2.0 1.5 1.8 2.7 1.9 1.0 2.9 3.1 MAY 1.3 1.5 1.5 1.6 1.2 0.6 1.8 1.8 JUNE 1.3 1.8 2.3 2.0 0.9 0.3 1.4 1.9 JULY 1.2 1.3 1.4 1.7 1.0 0.3 1.5 2.0 AUGUST OR LATER 3.0 3.4 2.2 4.4 2.8 I. 7 5.7 1.1 TOTAL 100.0 100.0 * 100.0 (MEMORANDUM: 100.0 100.0 TAX AND DIVIDEND 100.0 100.0 100.0 MATURITIES) SEPTEMBER 11 1.3 1.5 1.3 1.4 1.3 1.4 1.2 1.0 SEPTEMBER 15 3.5 1.5 1.3 2.4 4.4 4. I 3.4 5.3 1/ INCLUDES 2/ 3/ TOTAL PRIME TOTALS CERTIFICATES IN DENOMINATIONS DEPOSITS AS REPORTED IN T H E C A L L BANKS ARE THOSE WHOSE NEGOTIABLE REPORTED * — 4.9 7.4 27-31 — 6.5 5.6 JUL — 3/ TO TO MILLION PRIME ) MILLION BY MAY DEALERS NOT ADD TO DUE TRADE TO WITHIN ROUNDING. 1 OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING R E P O R T OF C O N D I T I O N ON DECEMBER 31$ 1965. C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OR 2 BASIS POINTS OF EACH OTHER WITHIN THE BANKS. OF THE SECONDARY HIGHEST MARKET. QUALITY AND WHICH ARE TABLE 3D MATURITY D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME CERTIFICATES AT W E E K L Y REPORTING B A N K S BY SIZE OF BANKS 2/ AS OF 26 CUMULATIVE JUL OF DEPOSIT 1972 PERCENTAGE SI $200 CD'S MATURING IN TOTAL *200 MILLION AND UNDER MILLION $500 TO $500 If BILLION MILLION PRIME $1 1973 JUL 27-31 3/ TOTAL BILLION OUTSIDE NEW 1972 OVER — — — — — — — — — — TO MILLION AND YORK NEW NON-PRIME YORK CITY CITY 5.6 7.4 6.9 6.5 4.9 5.0 4.6 5.4 AUGUST 32.7 37.7 33.5 32.6 32.0 35.6 27.0 30.8 SEPTEMBER 49.9 55.5 50.5 49.6 49.2 54.0 42.9 46.8 OCTOBER 65.1 67.6 64.7 63.4 65.2 r0.3 59.3 61.5 NOVEMBER 72.6 74.4 71.6 70.9 72.8 18.7 66.3 68.2 DECEMBER 80.1 81.0 79.2 77.3 80.6 85.8 75.8 75. 1 JANUARY 86.9 86.0 86.7 83.1 87.7 93.2 81.9 83.1 FEBRUARY 89.0 88.1 88.7 85.3 89.8 94.9 84.0 86.1 MARCH 91.3 90.5 90.7 87.8 92.1 96.2 86.7 90. 1 APRIL 93.3 92.0 92.5 90.5 94.0 97.2 89.6 93.2 MAY 94.6 93.5 94.0 92.1 95.2 97.8 91.4 95.0 JUNE 95.9 95.3 96.3 94.1 96.1 98.1 92.8 96.9 JULY 97.1 96.6 97.7 95.8 97. 1 98.4 94.3 98.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 AUGUST OR LATER 1/ 2/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S TOTAL DEPOSITS AS REPORTED IN T H E C A L L 3/ PRIME BANKS REPORTED BY ARE THOSE DEALERS TO WHUSE TRADE NEGOTIABLE WITHIN 1 OF * 1 0 0 , 0 0 0 OR MORE REPORT OF C O N D I T I O N CERTIFICATES OR 2 BASIS OF POINTS I S S U E D BY W E E K L Y REPORTING ON DECEMBER 31, 1965. DEPOSIT OF EACH ARE REGARDED OTHER WITHIN AS BEING THE BANKS. OF THE SECONDARY HIGHEST MARKET. QUALITY AND WHICH ARE » TABLE • • e 3E SALES /I/ OF # • + e 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 AT W E E K L Y R E P O R T I N G B A N K S B Y S I Z E O F B A N K S 3 / AS OF 26 JUL 1972 PERCENTAGE DISTRIBUTION # MONTH $1 CD'S 1972 1973 MATURING JUL IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION MILLION TO $1 B I L L I O N • 2/ BILLION $500 AND OVER PRIME TOTAL 4/ NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 27-31 AUGUST 38.2 44.8 38.1 32.0 39.3 43.8 31.3 37.2 SEPTEMBER 15.8 16.7 15.7 19.6 14.7 16.0 12.1 14.4 OCTOBER 20.7 17.3 18.2 19.1 22.0 21.3 22.2 23.9 NOVEMBER 4.3 2. 1 3.1 4.0 4.8 4.6 8.1 0.9 DECEMBER 4.5 4.0 5.2 3.4 4.7 3.4 9.2 2. 1 JANUARY 8.9 7.2 10.9 8. 7 8.7 7.7 9.5 10.3 FEBRUARY 0.6 0.5 0.7 0.7 0.6 0.7 0.3 0.6 MARCH 1.0 0.7 0.9 1.3 1.0 1.0 1.1 0.7 APRIL 0.8 0.9 0.6 2.0 0.6 0.4 0.3 1.3 MAY 0.2 0.1 0.5 0*4 0.1 0.1 0.0 0. 1 JUNE 1.0 1.1 1.3 1.4 0.8 0.4 1.1 1.5 JULY OR L A T E R 4. 1 4.5 4.9 7.5 2.9 0.5 4.9 7.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) SEPTEMBER 11 1.2 1.7 1.2 1.1 1.2 1.4 0.9 0.7 SEPTEMBER 15 3.1 1.3 1.5 3.1 3.6 4.2 2.9 3.0 CMEMORANDUM: 254 86 NUMBER 81 OF BANKS I 50 37 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 M O R E 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 D E P O S I T S AS R E P O R T E D IN T H E C A L L R E P O R T OF C O N D I T I O N U N D E C E M B E R 31# 1 9 6 5 . 4/ P R I M E B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D A S B E I N G OF THE H I G H E S T 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 O R 2 B A S I S P O I N T S O h 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 . O T A L S M A Y N O T A D D D U E TO R O U N D I N G . Digitized* for TFRASER 12 QUALITY AND WHICH 18 ARE TABLE AVERAGE 4A MATURITY OF OUTSTANDING NEGOTIABLE AT AT TIME WEEKLY CERTIFICATES REPORTING VARIOUS (IN SURVEY DATES MONTHSI JUL 1972 28 (BY REPORTING ISSUING SURVEY JUN 1972 31 MAY 1972 LOCATION) BANKS 3.2 3.2 2.7 2.9 3.1 CHICAGO 2.5 2.5 2.6 OTHER 3.5 3.4 3.4 YORK CD'S CITY (BY UNDER $200 $200-$500 MILLION MILLION $500—SITOOO OVER $1 MILLION BILLION PRIME IN NEW PRIME OUTSIDE YORK CITY 3/ NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME BANKS ARE THOSE R E P O R T E D BY W H I C H A R E OF 3.2 NEW CERTIFICATES AS 1/ CLASSIFICATION 26 ALL DEPOSIT BANKS DATE BANK OF IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO TRADE OF $100,000 REPORT OF OR SIZE OF BANK) 2/ 3.0 3.0 3.0 3.2 3.1 3.0 3.4 3.2 3.2 3.1 3.2 3.3 2.6 2.8 3.1 3.7 3.7 3.7 3.4 3.4 3.5 MORE CONDITION ISSUED ON BY WEEKLY DECEMBER 31, REPORTING BANKS. 1965. 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 UF THE HIGHEST QUALITY AND WITHIN 1 OR 2 BASIS P0IN1S OF EACH OTHER WITHIN THE SECONDARY MARKET. # # # # # # # TABLE AVERAGE # # • MATURITY OF NEGOTIABLE SOLD TIME BY DURING THE t CERTIFICATES WEEKLY MONTH (IN OF REPORTING OF VARIOUS SURVEYS MONTHS) JUL 1972 28 (BY REPORTING ISSUING SURVEY JUN 1972 31 MAY 1972 LOCATION) BANKS CD'S 2.8 2.8 2.1 2.3 3.2 CHICAGO 2.7 2.6 2.5 OTHER 3.1 3.0 2.7 YORK CITY (BY UNDER $200 $200—$500 MILLION MILLION $500—$1,000 OVER $1 MILLION BILLION PRIME IN NEW PRIME OUTSIDE YORK CITY 3/ NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE ARE REPORTED BY N O T E — S E E TECHNICAL OF 2.7 NEW AS 1/ CLASSIFICATION 26 ALL DEPOSIT BANKS DATE BANK IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE DEALERS TO TRADE APPENDIX B. OF $100,000 REPORT OF OR « 4B SIZE OF BANK) 2/ 2.5 2.7 2.5 2.9 3.1 2.6 3.2 2.7 2.6 2.6 2.7 3.0 2.2 2.2 3.2 3.1 3.4 2.9 3.0 2.9 2.6 MORE CONDITION ISSUED ON BY WEEKLY DECEMBER 31, REPORTING BANKS. 1965. CERTIFICATES OF DEPOSIT ARE R E G A R D E D AS BEING OF THE HIGHEST QUALITY AND WITHIN 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R WITHIN THE SECONDARY MARKET. TABLE RATIO OF OUTSTANDING NEGOTIABLE TO AT TOTAL VARIOUS (PER 5A TIME CERTIFICATES T O T A L D E P O S I T S 2/ M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S 26 JUL 1/ DEPOSITS SURVEY DATES CENT) DATE (IN OF D E P O S I T 1972 28 OF JUN SURVEY 1972 31 M A Y 1972 ISSUING 13.8 13.1 12.9 UNDER 200 11.0 10.9 11.0 200 - 500 12.6 12.0 12.0 500 - 1000 12.3 11.6 11.6 14.9 14.2 13.8 20.6 18.8 18.8 10.3 10.2 9.6 14.3 13.8 13.2 OVER 1000 PRIME IN N E W PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D A R E 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 O R 2 B A S I S P O I N T S O F 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 . NOTE- AS IN D E N O M I N A T I O N S REPORTED IN THE CALL OF $100,000 REPORT 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 INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN OF OR MORE CONDITION THIS TABLE ISSUED ON ARE BY W E E K L Y DECEMBER TOTAL 31, REPORTING BANKS. 196b. DEMAND AND TIME D E P O S I T S , INCLUDING TABLE RATIO OF OUTSTANDING NEGOTIABLE (IN ALL DEPOSITS MILLIONS BANKS CD'S OF CERTIFICATES TOTAL DEPOSITS AS OF JUL 26 OF OF DEPOSIT 1/ 1972 BANKS) 5% 5 10 15 20 25% AVERAGE OR TO TO TO TO OR TO LESS 10* 2/ DOLLARS I TIME TO CNUMBER TOTAL SB 20% 15% 25% MORE ISSUING RATIO (PER 46 67 64 40 17 20 13.8 UNDER 200 20 27 20 8 4 7 11.0 200 - 500 16 19 19 15 3 9 12.6 500 - 1000 7 9 19 11 4 0 12.3 3 12 6 6 6 4 14.9 0 1 1 0 4 1 20.6 0 7 1 3 1 0 10.3 3 4 4 3 1 3 14.3 OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRLME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE ARE R E P O R T E D BY NOTE- CERTIFICATES AS IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE DEALERS TO T R A D E OF $100,000 REPORT MORE CONDITION ISSUED ON BY WEEKLY DECEMBER 31, REPORTING CENT) BANKS. 1965. CERTIFICATES OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T QUALITY AND WITHIN 1 OR 2 B A S I S P O I N T S OF EACH OTHER WITHIN THE SECONDARY MARKET . DEPOSITS IN T H E DENOMINATOR OF THE RATIO INTERBANK AND U.S. GOVERNMENT DEPOSITS. OF OR CO DEPOSIT IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING TABLE PER CENT CHANGE IN O U T S T A N D I N G 28 JUN NEGOTIABLE 1972 TO (NUMBER TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S OF DECLINES 2/ REDUCED CD'S TO ZERO DOLLARS) 5C OF TIME 26 JUL CERTIFICATE OF OtPOSIT /I INCREASES OF 1972 BANKS 1 OF — — — — — — — 10% OR MORE 5 TO 10% 5 % OR LESS NO CHANGE 5 % OR LESS 5 TO 10% 10% OR MORE ISSUED C D ' S BUT HAD NONE OUTSTANDING ON B A S E D A T E ISSUING 0 22 22 48 12 53 35 62 0 200 0 10 9 16 4 23 9 15 0 200 - 500 0 4 7 18 6 10 13 23 0 500 - 0 4 2 7 2 11 8 16 0 0 4 4 7 0 9 5 8 0 0 0 0 3 0 1 1 2 0 0 3 1 1 0 3 0 4 0 0 1 3 3 0 5 4 2 0 UNDER OVER 1000 1000 PRIME IN N E W PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE A R E R E P O R T E D BY NOTE- THE HAD CERTIFICATES AS IN D E N O M I N A T I O N S REPORTED IN T H E I CALL OF $100,000 REPORT OF OR MORE CONDITION ISSUED ON BY WEEKLY DECEMBER 31, REPORTING BANKS. 1965. W H O S E N E G O T I A B L E C E R T I F I C A T E S O F D E P O S I T A R E R E G A R D E D 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 D E A L E R S T O T R A D E W I T H I N I OR 2 B A S I S P O I N T S O F 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 . N U M B E R OF B A N K S IN T H I S O U T S T A N D I N G CD'S ON THE T A B L E D I F F E R S F R O M T H O S E IN M O S T O T H E R LAST SURVEY R E D U C E D THEIR O U T S T A N D I N G S T A B L E S TO THE E X T E N T T H A T TO Z E R O O N T H I S S U R V E Y . BANKS THAT e i e e • e TABLE e # # # # 50 « PER CENT CHANGE IN OUTSTANDING 26 APR NEGOTIABLE 1972 TO (NUMBER TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S OF DECLINES REDUCED CD'S 25% OR TO MORE ZERO /2 DOLLARS) OF TIME 26 JUL CERTIFICATE ISSUING /I BANKS I I N C R E A S E OF _______ — — — — — OF 10 TO 15% 15 TO 20% DEPOSIT 1972 — 20 TO 25* OF 5 TO 10% 5% OR LESS NO CHANGE — — 5% OR LESS 5 TO 10% lb TO 20% 10 TO 15% — — — — — — — — — 20 TO 25% 2 5% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 0 16 4 8 13 19 23 9 22 25 28 15 13 58 1 UNDER 200 0 10 1 3 2 8 9 4 8 13 7 1 3 17 0 200 - 500 0 3 3 3 6 6 6 3 8 4 9 6 5 19 0 500 - 1000 0 3 0 1 1 1 4 2 3 6 4 5 4 15 1 0 0 0 1 4 4 4 0 3 2 8 3 1 7 0 0 0 0 1 1 0 1 0 0 0 3 0 0 1 0 0 0 0 0 1 3 0 0 1 1 1 1 0 4 0 0 0 0 0 2 1 3 0 2 1 4 2 1 2 0 OVER 1000 PRIME IN PRIME OUTSIDE NEW YORK NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH B A N K S ARE THOSE A R E R E P O R T E D BY NOTE- CERTIFICATES AS IN DENOMINATIONS REPORTED IN CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E T H E N U M B E R O F B A N K S IN T H I S H A D O U T S T A N D I N G C D ' S ON THE O U T S T A N D I N G S TO ZERO. THE OF $100,000 REPORT OF OR MORE CONDITION ISSUED ON BY WEEKLY DECEMBER 31, REPORTING BANKS. 1965. C E R T I F I C A T E S O F D E P O S I T A R E R E G A R D E D A S B E I N G OF T H E H I G H E S T Q U A L I T Y A N D W I T H I N I OR 2 BASIS P O I N T S OF E A C H OTHER WITHIN THE S E C O N D A R Y M A R K E T . T A B L E D I F F E R S F R O M T H O S E IN M O S T S U R V E Y T H R E E M O N T H S P R I O R TO THE OTHER TABLES TO CURRENT SURVEY, THE EXTENT THAT R E D U C E D THEIR BANKS I HAT TABLE CHANGE IN O U T S T A N D I N G N E G O T I A B L E OVER THE MONTH AT AS THE 28 A PER (IN ALL DEPOSITS MILLIONS BANKS CD'S OF 2/ JUN 1972 DOLLARS) 3* AND OVER 2 TO 3% 2 7 DEPOSITS PERIOD 1972 BANKS! INCREASES 15 200 500 1 1 4 1000 0 2 1 0 2 2 1000 PRIME IN PRIME OUTSIDE NEW YORK NEW 3/ YORK 0 3 / NONPRIME INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE A R E R E P O R T E D BY AS 0 NO CHANGE IN THE 1% AND LESS OF 12 5 1 TO 2% OF 2 TO 3% 3* AND OVER 1 86 34 35 7 6 22 11 7 6 2 16 11 4 4 0 13 5 1 3 4 23 0 11 1 2 0 1 2 0 3 0 4 1 6 0 8 $ 1 0 0 , 0 0 0 OR MORE 0 CALL 69 2 2 IN D E N O M I N A T I O N S REPORTED 8 0 0 1/ REPORT OF CONDITION ISSUED ON BY WEEKLY DECEMBER 31, 14 15 2 2 0 1 1 1 2 1 0 REPORTING 1 BANKS. 1965. W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D D E A L E R S TO T R A D E W I T H I N 1 OR 2 BASIS P O I N T S 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 . 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 INTERBANK AND U.S. GOVERNMENT DEPOSITS. http://fraser.stlouisfed.org/ FederaleReserve Bank of St.# Louis OF 1Z ISSUING 2 NOTE- THE IX AND LESS 1 OVER OF TOTAL TO 2 6 JUL 1 TO 2% 200 5 00 - CENT OF DEPOSIT DECLINES OF UNDER - T I M E C E R T I F I C A T E S OF BEGINNING (NUMBER TOTAL 5E IN T H I S TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING « # e # e e # # e • • • e i • TABLE CHANGE OVER LAST THREE AT MONTHS AS APR 1972 DEPOSITS 1 IN M I L L I O N S ALL BANKS CD" S OF A PER OF CENT THE TO 2 6 J U L (NUMBER TOTAL TIME CERTIFICATES THE B E G I N N I N G 26 e • OF OF OF TOTAL DEPOSIT 5% AND OVER DOLLARS) ISSUING 3 TO 4% 4 TO 5% # 1/ DEPOSITS PERIOD 1972 BANKS) INCREASES OF D E C L I N E S OF 2/ # 5F IN O U T S T A N D I N G N E G O T I A B L E THE • 5% AND OVER 4 TO 5% 3 TO 41 2 TO 3% 1 ro 2% It AND UNDER NO CHANGE 1% AND LESS 1 TO 2% 2 TO 3% 2 2 6 10 22 43 9 52 36 31 14 11 15 UNDER 200 1 2 2 3 8 17 4 24 10 6 3 2 4 200 - 500 0 0 3 4 8 12 3 13 14 12 3 4 5 500 1000 1 0 0 3 1 6 2 10 5 9 7 2 3 0 0 1 0 5 8 0 b 7 4 1 3 3 0 0 1 0 1 1 0 0 1 1 1 I 0 0 0 0 0 2 2 0 2 3 1 0 1 1 0 0 0 0 2 5 0 3 3 2 0 1 2 - OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ N O N P R I ME 1/ INCLUDES 2/ TOTAL NOTE- CERTIFICATES DEPOSITS AS IN D E N O M I N A T I O N S REPORTED IN THE CALL OF *100,000 REPORT D E P O S I T S IN T H E D E N O M I N A T O R OF T H E R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN OF OR MORE CONDITION THIS ISSUED ON TABLE ARE BY W E E K L Y DECEMBER TOTAL 31, REPORT1NG BANKS. 1965. DEMAND AND TIME DEPOSITS, INCLUDING TABLE MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES AT WEEKLY R E P O R T I N G B A N K S BY F E D E R A L R E S E R V E D I S T R I C T AS O F (AMOUNTS C0» S M A T U R I N G IN ALL DISTRICTS BOSTON 2117.4 76.0 10217.7 SEP 6A 26 JUL OF DEPOSIT 1/ 1972 IN M I L L I O N S O F DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 211.3 52.7 18.6 45.1 208.0 300.8 414.1 1198.5 157. 1 113.4 204.0 587.2 1355.5 213.6 271.8 891.1 68.6 73.7 152.8 399. 1 762.8 315.4 212.2 158.6 749.3 90.1 69.5 116.4 233.8 785.3 116.9 140. 1 101.3 96.9 262.8 38.2 30.2 62.2 178.4 349.0 1121.7 134.7 123.8 86.4 100. 8 338.7 41.0 30.4 71.8 132. 3 452.8 102.8 1025.4 102.3 140.3 86.8 119.8 239.9 49.4 43.4 71.7 171.5 422.3 783.5 20.7 255.2 78.9 39.4 31.6 28.6 56.8 11.8 7.6 31.9 81.5 139.5 MAR 862.4 73.4 212.2 121.6 45.6 18.4 48.1 69. 1 17.7 3.1 17.2 64.0 172.0 APR 764.6 33.6 167.1 88.7 73.0 38.0 22.3 44.2 12.4 8.0 27.3 46. 7 203.3 MAY 497.7 29.7 97.3 53.1 46.5 18.0 21.7 37. 1 10.4 4.4 22.3 32.3 124.9 J UN 507.4 34.5 52.1 63.4 48.2 21.7 51.7 61.0 5.9 10.8 22.8 35.8 99.5 JUL 448.9 19.9 57.7 53.9 33.6 12.6 44.2 25.9 5.6 1.8 20.1 42. 1 131.5 1125.1 48.9 251.6 77.0 344.9 23.9 64.5 66.0 24.1 6.8 35.1 15.6 166.7 37705.3 1870.6 15350.5 1733.7 2115.4 1256.7 1525.1 4251.7 585.0 421.7 900.7 2228.3 5465.9 AVERAGE MATURITY IN M O N T H S 2 / 3.1 3.4 2.6 4.5 4.9 3.1 3.6 2. 7 3.2 3.7 3.0 3.6 NUMBER BANKS 254 18 40 10 19 16 23 36 11 20 24 32 1972 PHILADELPHIA CLEVELAND 874.8 75.2 78. 3 94.6 82.0 396.0 4749.9 339.5 404.9 297.6 6468.8 288.0 2854.7 211.2 281.4 OCT 5714.0 376. 8 2389.3 217.3 NOV 2810.0 192.5 1241.5 DEC 2812.2 177.8 JAN 2575.6 FEB JUL 27-JUL 31 ' AUG 1973 NEW YORK AUG TOTAL OR LATER * OF CHICAGO 3.0 ' REPORTING 1/ INCLUDES ONLY CERTIFICATES 2/ SEE APPENDIX TECHNICAL * DETAILS RICHMOND ATLANTA MAY NOT ADD TO ISSUED IN D E N O M I N A T I O N S B. TOTALS DUE TO R O U N D I N G . 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 BANKS. 5 • 1 9 • # • TABLE 1/ SALES OF NEGOTIABLE IN ALL DISTRICTS BOSTON 19 72 A U G 4414.6 168.2 SEP 1823.1 OCT 1973 • * + 2/ JUL SINCE PREVIOUS MONTH ' 1972 IN M I L L I O N S OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 394.4 51.2 60.1 101.4 283.0 571.6 78.0 182.4 18.3 25.3 42.1 140.6 189.8 97.4 76.5 268.6 42.2 30.0 48.4 99. 1 443.9 11.9 11.0 11.9 126.5 1.3 12.0 9.0 7.3 42.3 2.9 24.7 18.3 25.5 112.6 4.3 5.6 19.9 23.8 81.4 384.4 15.4 62.7 17.6 69.7 127.6 12.5 10.4 39.4 46.5 193.1 3.3 33.6 2.5 3.6 4.1 4.2 2.1 0.8 2.0 0.7 2.7 9.2 118.7 9.2 48.1 3.1 5.5 2.4 4.4 7.2 0.1 0.6 3.4 13.2 21.5 APR 97.3 19.1 21.9 6.0 1.7 6.5 1.9 6.5 1.3 2.5 2.3 5.7 21.9 MAY 21 .6 2.6 5.4 3.2 1.8 0.8 0.4 1.7 0.4 0.2 2.0 1.1 2 .0 JUN 112.7 10.2 20.1 11.6 13.8 4.7 2.4 15.0 2.7 1.8 5.8 4.1 20.5 467.9 18.8 31.5 51.3 53.4 13.4 71.6 31.8 5.0 2.2 22.6 40.9 125.4 11545.9 599.5 4931.8 344.0 503.1 373.3 537.4 1276.4 140. 1 152. 7 297.0 668.0 1722.6 2.7 3.0 2.1 3.8 3.7 2.6 3.6 2.8 2.7 2.4 3.4 2.6 3.2 NEW YORK CLEVELAND 2212.3 124.8 129.7 797.4 2387.2 122.4 NOV 491.6 DEC RICHMOND ATLANTA CHICAGO 135.3 121.4 190.9 34.5 109.3 75.7 993.3 86.0 79.4 47.9 207.8 2.7 518.2 23.2 176.0 JAN 1024.2 44.9 FEB 68.8 MAR OR L A T E R * AVERAGE MATURITY IN M O N T H S 3/ 1/ SEE 2/ INCLUDES ONLY CERTIFICATES 3/ SEE * 26 PHILADELPHIA JUL TOTAL 68 C E R T I F I C A T E S OF D E P O S I 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 I AMOUNTS MATURING • TIME A S OF CD'S • TECHNICAL TECHNICAL DETAILS MAY NOT APPENDIX APPENDIX ADD TO A. ISSUED IN D E N O M I N A T I O N S O F B. TOTALS DUE TO R O U N D I N G . $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE MATURITY 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 AT WEEKLY R E P O R T I N G B A N K S BY F E D E R A L R E S E R V E D I S T R I C T AS O F 26 (PERCENTAGE CD'S 1972 1973 1/ JUL OF DEPOSIT 1/ 1972 DISTRIBUTION! ST. LOUIS MINNEA P O L IS KANSAS CITY DALLAS SAN FRANCISCO 5.0 9.0 4.4 5.0 9.3 5.5 27.2 28.2 26.9 26.9 22.6 26.4 24.8 17.0 17.8 21.0 11.7 17.5 17.0 17.9 14.0 14.9 16.9 10.4 17.6 15.4 16.5 12.9 10.5 14.4 6.7 6.6 8.1 6.4 6.2 6.5 7.2 6.9 8.0 6.4 7.3 7.8 5.9 6.9 6.6 8.0 7.0 7.2 8.0 5.9 8.3 5.5 6.7 5.9 6*6 6.9 7.9 5.6 8.4 10.3 8.0 7.7 7.7 2.1 1.1 1.7 4.6 1.9 2.5 1.9 1.3 2.0 1.8 3.5 3.7 2.6 MAR 2.3 3.9 1.4 7.0 2.2 1.5 3.2 1.6 3.0 0.7 1 .9 2.9 3.1 APR 2.0 1.8 1.1 5.1 3.5 3.0 1.5 1.0 2.1 1.9 3.0 2. 1 3.7 MAY 1.3 1.6 0.6 3.1 2.2 1.4 1.4 0.9 1.8 1.0 2.5 1.4 2.3 J UN 1.3 1.8 0.3 3.7 2.3 1.7 3.4 1.4 1.0 2.6 2.5 1.6 1.8 JUL 1.2 1.1 0.4 3.1 1.6 1.0 2.9 0.6 1.0 0.4 2.2 1. 9 2.4 3.0 2.6 1.6 4.4 16.3 1.9 4.2 1.6 4.1 1.6 3.9 0.7 3.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OR M O R E BY ALL DISTRICTS BOSTON 5.6 4.1 AUG 27.1 SEP 17.2 OCT MATURING IN PHILADELPHIA CLEVELAND RICHMOND ATLANTA 5.7 4.3 3.7 7.5 5.4 21.2 30.9 19.6 19.1 23.7 15.4 18.6 12.2 13.3 15.2 20.1 15.6 12.5 NOV 7.5 10.3 8. 1 DEC 7.5 9.5 JAN 6.8 FEB JUL AUG TOTAL 6C 2 7- J U L OR LATER * INCLUDES 31 ONLY CERTIFICATES . ISSUED IN NEW YORK DENOMINATIONS OF *100,000 CHICAGO WEEKLY REPORTING BANKS. TABLE MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME AT WEEKLY REPORTING B A N K S BY F E D E R A L R E S E R V E D I S T R I C T AS O F 26 (CUMULATIVE CD'S MATURING ALL DISTRICTS BOSTON 5.6 4.1 AUG 32.7 SEP DEPOSIT 1/ 1972 PERCENTAGE) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 5.0 9.0 4.4 5.0 9.3 5.5 32.6 33.2 35.9 31.3 27.6 35.7 30.3 48.2 50.4 54.2 47.6 48.8 44.6 53.6 44.3 51.0 65.1 60.8 71.8 63.0 65.3 57.5 64. 1 58.7 55.3 57.6 73.2 67.2 78.0 69.5 72 .5 64.4 72. 1 65.1 86.2 63.1 63.5 80.1 73.8 86.0 76.5 79.7 72.4 78.0 73.4 86.1 92.9 69.0 70.1 87.0 81. ? 91.6 84.9 90.0 80.4 85.7 81.1 89.0 87.2 94.6 73.6 72.0 89.5 83.6 92.9 86.9 91.8 83.9 89.4 83.7 MAR 91.3 91. 1 96.0 80.6 74.2 91.0 86.8 94.5 89.9 92.5 85.8 92.3 86.8 APR 9 3.3 92.9 97.1 85.7 77. 7 94.0 88. 3 95.5 92.0 94.4 88.8 94.4 90.5 MAY 94.6 94.5 97.7 88.8 79.9 95.4 89.7 96.4 93.8 95.4 91.3 95. 8 92.8 JUN 9 5.9 96.3 98.0 92.5 82.2 97.1 93.1 97.8 94.8 98.0 93.8 97.4 94.6 JUL 97.1 97.4 98.4 95.6 83.8 98.1 96.0 98.4 95.8 98.4 96.0 99.3 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.U OR BY NEW YORK CLEVELAND RICHMOND ATLANTA 5.7 4.3 3.7 7.5 5.4 25.3 36.6 23.9 22.8 31.2 49.9 40.7 55.2 36.1 36.1 OCT 65.1 60.8 70.8 48.6 NOV 72.6 71.1 78.9 DEC 80.1 80.6 JAN 86.9 FEB 27-JUL AUG OR 1/ JUL C E R T I F I C A T E S OF PHILADELPHIA 1972 JUL 1973 IN 60 31 LATER INCLUDES ONLY CERTIFICATES ISSUED IN D E N O M I N A T I O N S OF $100,000 MORE CHICAGO WEEKLY REPORTING BANKS. TABLE 1/ SALES OF NEGOTIABLE TIME BY OF 26 (PERCENTAGE JUL SINCE DISTRIBUTION! MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 30.9 36.5 39 . 4 34.1 42.4 33.2 14.5 14.3 13.1 16.6 14.2 21.0 11.0 26.1 14.2 21.0 30. 1 19.6 16.3 14.8 25.8 2.4 2.9 2.2 9.9 0.9 7.9 3.0 1.1 2.5 0.8 4.9 4.9 4.7 8.8 3. 1 3.7 6.7 3.6 4.7 7.8 4.5 12.5 4.7 13.0 10.0 8.9 6.8 13.3 7.0 11.2 0.6 0.7 0.7 0.7 1.1 0.8 0.2 0.6 1.3 0.2 0.4 0.5 1.0 1.5 1.0 0.9 1.1 0.6 0.8 0.6 0. 1 0.4 1.1 2.0 1.2 APR 0.8 3.2 0.4 1.7 0.3 1.7 0.4 0.5 0.9 1.6 0.8 0.9 1.3 MAY 0.2 0.4 0.1 0.9 0.4 0.2 0.1 0.1 0.3 0.1 0.7 0.2 0.1 JUN 1.0 1.7 0.4 3.4 2.7 1.3 0.4 1.2 1.9 1.2 2.0 0.6 1.2 4.1 3.1 0.6 14.9 10.6 3.6 13.3 2.5 3.6 1.4 7.6 6.1 7.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 BOSTON AUG 38,2 28.1 SEP 15.8 OCT 20.7, NOV IN RICHMONO ATLANTA CLEVELAND 44.9 36.3 26.9 32.5 35.5 21.6 16.2 10.0 21.7 20.3 20.4 20.1 25.0 15.8 4,3 8.0 4.2 0.8 DEC 4.5 3.9 3.6 1973 J A N 8.9 7.5 FEB 0.6 MAR JUL OR L A T E R * 1/ SEE 2/ INCLUDES NOTE - MONTH 1972 PHILADELPHIA TOTAL PREVIOUS ST. LOUIS ALL DISTRICTS MATURING 1972 * 2/ C E R T I F I C A T E S OF D E P O S I T WEEKLY REPORTING BANKS FEDERAL RESERVE DISTRICT AS CD'S 6E TECHNICAL SALES DETAILS APPENDIX ONLY IN MAY NOT ADO TABLE CHICAGO A. CERTIFICATES THIS NEW YORK ISSUED ARE NOT TO T O T A L S DUE IN D E N O M I N A T I O N S ADJUSTED FOR TO R O U N D I N G . CD'S OF THAT $ 1 0 0 , 0 0 0 OR MORE HAVE MATURED. BY WEEKLY REPORTING BANKS. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD's maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month--after the survey date--are assumed to mature in the middle of the period between the .eurvey 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 d a y s ) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce comparibility between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold at the mid-point between surveys, the average maturity of sales would be lengthened relative to the average maturity of outstandings, by, in effect, using an earlier starting date for sales than for outstandings. Sales of CD's maturing in a particular month are often a large and highly variable proportion of total sales while changes in outstandings due in any particular month are a small and rather stable proportion of the level of total outstandings. As a result, the average maturity of sales is much more sensitive to month-to-month variation in the maturity structure of sales than is the case with the outstandings series. Thus, large changes in the calculated average maturity of sales, or situations in which the average maturity of sales differ sharply from the average maturity of outstandings. should be interpreted with care and references should be made to actual dollar sales by month. Formulas for calculation of average maturities are available on request from the Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System.
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