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July 25, 1973 L.4.1 CONFIDENTIAL (FR) FEDERAL RESERVE BANK of KANSAS CITY AUG 2 1H73 — Research Library — SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF D E P O S I T AT LARGE WEEKLY REPORTING BANKS as of June 27, 1973 NOTE: Sales since the previous survey and comparison with previous data reflect revisions in the May report whereby $3.7 million in outstanding negotiable C D 1 s have been added to the series. e Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE MATURITY rilSTHIAUTTON OF O U T S T A N D I N G 1 NEGOTIABLE WFFKLY REPORTING AS CD'S MATURING OF AMOUNT ( M I L L I O N S OF DOLLARS) IN P7 JUN TIMF 1/ C E R T I F I C A T E S OF D E P O S I T AT RANKS 1973 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2/ ( M I L L I O N S OF D O L L A R S ) 3,161.9 5.3 5.3 .0 JULY 22,086.6 37.3 42.6 7,488.2 AUGUST 11,056.9 18.7 61.3 3,266.0 SEPTEMBER 8,165.0 13.8 75.1 5,598.9 OCTOBER 3,074.9 5.2 80.3 734.2 NOVEMBER 2,392.4 4.0 84.3 470.0 DECEMBER 2,597.2 4,4 88.7 1,601.3 1,298.2 2.2 90.9 436.7 FEBRUARY 556.4 .9 91.8 44.6 MARCH 945.4 1.6 93.4 120.1 APRIL 946.8 1.6 95.0 31.5 MAY 658.0 1.1 96.1 38.5 JUNE 694.5 1.2 97.3 1,626.9 2.7 100.0 XXX 59,261.4 100.0 XXX 20,406.4 1973 JUNE 2 8 - 30 1974 JANUARY OVER 12 M O N T H S TOTAL (MEMORANDUM; SEPTEMBER SEPTEMBER 763.3 998.4 10 17 1/ INCLUDES ONLY CERTIFICATES 2/ SEE TECHNICAL APPENDIX IN D E N O M I N A T I O N S OF 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 . TAX AND D I V I D E N D MATURITIES) XXX XXX 1.3 1.7 $ 1 0 0 , 0 0 0 OR M O R F 5 7 6 . 4 3/ I S S U E D AY WFFKLY REPORTING RANKS. TABLE 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 NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 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 BANKS AS OF 27 JUN 1973 (IN M I L L I O N S OF D O L L A R S ) C D ' S MATURING AMOUNT IN ALL OTHER WEEKLY R E P O R T I N G B A N K S CHICAGO NEW YORK CITY SALES SINCE P R E V I O U S MONTH 2/ AMOUNT SALES SINCE P R E V I O U S MONTH 2/ AMOUNT S A L E S SINCE P R E V I O U S MONTH ?/ .0 .0 290.4 .0 JULY 7,596.4 2,548.7 2,836.4 633.0 11,633.7 4,286.4 AUGUST 4,187.1 1,104.0 1,268.4 358.9 5,591.1 1,792.9 SEPTEMBER 3,180.8 2,459.8 923.8 773.9 4 , 056.6 2,361.4 OCTOBER 599.4 183.2 372.2 108.9 2,101 .2 439.9 NOVEMRFP 528.5 177.4 200.5 21.5 1,662.3 269.9 DECEMBER 587.4 436.9 196.7 138.8 1,809.6 1,022.1 205.8 110.6 90.2 40.7 1,001.6 284.9 58.4 9.9 14.9 .1 481.5 33.0 MARCH 240.5 44.5 24.2 10.3 680.4 65.0 APRIL 125.8 2.4 35.0 .1 784.7 27.7 MAY 149.3 .1 9.6 .4 498.2 37.1 JUNE 216.4 144.5 /3 15.9 1974 JANUARY FEBRUARY OVER 158.3 XXX 1,174.4 XXX 19,037.2 7,222.0 6,436.5 2,095.2 33,738.9 11,042.9 12 12 (MEMORANDUM! 345.3 441.1 10 17 APPENDIX A. 3/ SALES OF CD'S M A T U R I N G AFTER 11 M O N T H S . * TOTALS MAY NOT ADD DUE TO R O U N D I N G . 238 TAX AND DIVIDEND M A T U R I T I E S ) 69.4 99.5 1/ INCLUDES ONLY 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 OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY R E P O R T I N G BANKS, 2/ SEE TECHNICAL 4 2 2 . 6 /3 XXX NUMBER OF R E P O R T I N G B A N K S SEPTEMBER SEPTEMBER 461.9 293.9 12 M O N T H S TOTAL * 8.6 /3 CO 1 ,067.5 1973 JUN 28 - JUN 30 348.3 457.7 e e # # # # # TABLE 28 # # # # 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 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 27 JUN 1973 AND 30 MAY 1973 , (PERCENTAGE D I S T R I B U T I O N ) IN 27 JUN ALL OTHER CHICAGO NEW"YOPK CITY CD'S M A T U R I N G 30 MAY 27 JUN 30 MAY 27 JUN 30 MAY 5.6 2.3 4.5 1.7 5.3 2.4 01 M O N T H S 3/ 39,9 42.6 44.1 33.9 34.5 36.0 02 M O N T H S 22.0 25.9 19.7 35.0 16.6 21.6 03 M O N T H S 16.7 15.8 14.4 14.5 12.0 11.2 04 M O N T H S 3.1 3.7 5.8 2.4 6.2 5.0 05 M O N T H S 2.9 2.1 3.1 4.2 4.9 4.9 06 M O N T H S 3.1 1.8 3.1 2.8 5.4 4.1 07 M O N T H S 1.1 .8 1.4 .9 3.0 2.3 08 M O N T H S .3 .5 .2 .8 1.4 2.1 09 M O N T H S 1.3 .2 .4 .2 2.0 1.3 10 M O N T H S .7 1.0 .5 .2 2.3 1.8 11 M O N T H S .8 .6 .1 .6 1 .5 2.2 12 M O N T H S 1.1 .8 .2 .1 1.4 1.4 1.5 1.9 2.5 2.6 3.5 3.6 100.0 100.0 100.0 100.0 100.0 100.N 0 - 6 DAYS 2/ OVER 12 M O N T H S TOTAL * 1/ INCLUDES ONLY 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 ISSUED BY WEEKLY R E P O R T I N G BANKS. 2/ NUMBER OF D A Y S REMAINING IN SURVEY M O N T H . THIS P 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 W E D N E S D A Y OF THE M O N T H . 3/ NUMBER OF M O N T H S F O L L O W I N G THE SURVEY M O N T H . • T O T A L S MAY NOT ADD DUE TO R O U N D I N G . TABLF 2C 1/ 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 OF DEPOSIT AT NEW YORK C I T Y , C H I C A G O , AND ALL OTHER WEEKLY REPORTING B A N K S AS OF 27 JIJN 1973 AND 30 MAY 1973 (CUMULATIVE D I S T R I B U T I O N ) CD'S MATURING IN NEW YORK CITY 2 7 JUN 0-6 DAYS 2/ 30 MAY CHICAGO 27 JUN ALL OTHER 30 MAY 27 JUN 30 MAY 5.6 2.3 4.5 1.7 5.3 2.4 01 MONTHS 3/ 45.5 44.9 48.6 35.6 39.8 38.4 02 MONTHS 67 e 5 70.8 *8.3 70.6 56.4 6 0.0 03 MONTHS 84.2 86.6 82.7 85.1 68.4 7] .2 0 4 MONTHS 67.3 90.3 88.5 87.5 74.6 76.2 OS MONTHS 90.1 92.4 91.6 91.7 79.5 81.1 OA MONTHS 93.2 94.2 44.7 94.5 84.9 85.2 07 MONTHS 94.3 95.0 96. 1 95.4 87.9 87.5 OA M O N T H S 94.6 95.5 96.3 96.2 89.3 89.6 09 MONTHS 95.9 95.7 96.7 96.4 91.3 90.9 10 MONTHS 96.6 96.7 97.2 96.6 93.6 92.7 11 M O N T H S 97.4 97.3 97.3 97.2 95.1 94.9 12 MONTHS 98.5 98.1 97.5 97.3 96.5 96.3 100.0 100.0 100.0 100.0 100.0 100.0 OVF.R : 12 M O N T H S 1/ INCLUDES ONLY 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 ?./ NUMBER OF D A Y S R E M A I N I N G IN SURVEY M O N T H . THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST W E D N E S D A Y OF THE M O N T H . 3/ NUMBER OF M O N T H S F O L L O W I N G THE SURVEY M O N T H . 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 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 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 27 J U N 1973 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) ~ " $200 CD,S MATURING IN $1 B I L L I O N AND O V E R $200 MILLION TOTAL $ 5 0 0 ™ U L 1/ $500 MILLION ION PRIME 3/ .IBELION TOTAL CITY "77777m"7B-7o 7777.1 llV'o 7777l 373*8 CITY 7777*77" 7 0 2 2 . 9 613.9 288.2 JULY 22,086.6 1,056.4 2,637.7 3,489.6 14,902.9 7,359.7 5,354.7 2,188.5 AUGUST 11,056.8 515.2 1,290.7 1.888.1 7,362.8 4,039.4 2,464.2 859.2 SEPTEMBER 8,165.0 356.8 908.4 1,248.5 5,651.3 3,053.9 1,817.1 780.3 OCTOBER 3,075.0 171.1 448.1 630.8 1,825.0 542.0 897.2 385.8 NOVEMBER 2,392.4 141.1 329.1 405.6 1,516.6 434.9 733.5 348.2 DECEMBER 2,597.3 161.1 373.9 389.6 1,672.7 559.1 823.5 290.1 1,298.1 80.8 246.3 175.5 795.5 198.3 385.4 211.8 FEBRUARY 556.5 67.2 118.5 117.7 253.1 57.2 118.5 77.4 MARCH 945.4 58.1 124.6 165.2 597.5 164.5 284.3 148.7 APRIL 946.8 62.7 163.6 183.3 537.2 112.1 308.1 117.0 MAY 658.0 56.1 100.7 154.8 346.4 139.5 148.0 58.9 JUNE 694.4 54.5 77.6 103.2 459.1 214.8 196.6 47.7 1,626.8 99.3 141.0 283.2 1.103.3 263.4 777.2 62.7 59,261.0 3,049.4 7,334.0 9,929.2 38,948.4 18,161.7 14,922.2 5,864.5 1974 JANUARY J 0PYLATER TOTAL* (MEMORANDUM! TAX AND D I V I D E N D M A T U R I T I E S ) SEPTEMBER 10 763.2 24.4 74.6 SEPTEMBER IF 998.4 33.5 83.3 (MEMORANDUM» 262 1/ I N C L U D E S C E R T I F I C A T E S 90 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 s * T O T A L S MAY N O T ADD D U E TO R O U N D I N G . ^ 133.8 530.4 331.3 129.9 69.2 144.9 736.7 432.1 214.1 90.5 7 12 N U M B E R OF B A N K S ) — 85 50 ISSUED BY W E E K L Y — 37 REPORTING 18^ BANKS. - SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 27 JUN 1973 (AMOUNTS IN MILLIONS OF DOLLARS) TABLE 3R $1 BILLION AND OVER CD'S MATURING IN 1973 JUN TOTAL *200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 4/ TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 28-30 JULY 7,4*8.3 504.6 ^41.5 1,252.9 4,789.3 2,435.9 1,565.0 788.4 AUGUST 3,266.0 144.2 453.3 629.7 2,038.8 1,072.2 738.9 227.7 SEPTEMBER ^,598.8 184.2 565.2 811.3 4,038.1 2,415.1 1,267.5 355.5 OCTOBER 734.3 31.9 99.7 179.0 423.7 179.1 211.0 33.6 NOVEMBER 470.1 15.1 67.3 47.5 340.2 174.9 126.2 39.1 DECEMBER 1,601.4 58.5 187.0 1 Q 0 ,5 1,165.4 420.0 617.9 127.5 436.5 11.5 19.7 21.1 384.2 109.6 242.6 32.0 44.7 5.9 10.3 6.6 21.9 1 n.o 6.6 5.3 MARCH 120.2 A.5 13.9 15.e 82.0 44.4 24.5 13.1 APRIL 31.5 4.2 5.9 11.9 9.5 2.4 9.7 2.6- MAY 38.6 4.3 5.1 14.7 14.5 0.1 14.6 0.2- =,76.2 47.7 64.0 93.1 371.4 140.9 195.5 35.0 20,406.6 1,020.6 2,432.9 3,274.1 13,679.0 7,004.6 5,020.0 1,654.4 12 18 1974 JANUARY FEBRUARY JUNE OR LATER TOTAL * NUMBER OF BANKS) — (MEMOR ANDUM: 262 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES CERTIFICATES IN DENOMINATIONS 3/ TOTAL DEPOSITS AS REPORTED IN THE CALL 4/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE REPORTED BY DEALERS TO TRADE WITHIN 1 OR • TOTALS MAY NOT ADD DUE TO ROUNDING. 90 85 50 37 OF $100,000 OR MORE ISSUED RY WEEKLY REPORTING BANKS. REPORT OF CONDITION ON DECEMBER 31$ 1965. CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. k, * # TABLE 3C . # # # # # # # # M A T U R I T Y D I S T R I B U T I O N 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 AT WEEKLY REPORTING B A N K S BY SIZF OF B A N K S 2/ AS OF 27 JUN 1973 PERCENTAGE D I S T R I B U T I O N - $200 CD.S $200 MILLION $1 1/ B I L L I O N AND OVER $500 M I L L I O N PRIMF 3/ -ILL,;. NON-PRIME NEW YORK CITY 1973 JUN 28-30 5.3 5.5 5.1 7.0 4.9 5.6 4.1 4.9 JULY 37.3 34.6 36.0 35.1 36.3 40.5 35.9 37.3 AUGUST 18.7 16.9. 17.6 19.0 18.9 22.2 16.5 14.7 SEPTEMBER 13.A 11.7 12.4 12.6 14.5 16.8 12.2 13.3 OCTOBER 5.2 5.6 6.1 6.4 4.7 3.0 6.0 6.6 NOVEMBER 4.0 4.6 4.5 4.1 3.9 2.4 4.9 5.9 DECEMBER 4.4 5.3 5.1 3.9 4.3 3.1 5.5 4.9 2.2 2.6 3.4 1.8 2.0 1.1 2.6 3.6 FEBRUARY 0.9 2.2 1.6 1.2 0.6 0.3 O.FL 1.3 MARCH 1.6 1.9 1.7 1.7 V °'<3 1,9 APRIL 1.6 2.1 2.2 1.8 1*4 MAY 1.1 1.8 1.4 1.6 0.9 JUNE 1.2 1.8 1.1 1.0 J 2.7 3.3 1.9 100.0 100.0 100.0 1974 J A N U A R Y QRYLATER TOTAL * E E E , NEW YORK CITY W E E E E W SEPTEMBER SEPTEMBER E W E E . E » W E » W W « - — ( M E M O R A N D U M * 10 17 1.3 1.7 0.8 1.1 S 2 , 5 2.1 2.0 0.8 1.0 1.0 1.2 1.2 1.3 0.8 2.9 2.8 1.5 5.2 1.1 100.0 100.0 100.0 100.0 100.0 1.3 1.4 L.« 0.9 1.2 1*5 1 ^.4 1»4 TAX AND D I V I D E N D M A T U R I T I E S ) 1.0 1#1 • 9 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 RY WEEKLY REPORTING B A N K S . 2/ TOTAL D E P O S I T S AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS 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 F S T QUALITY AND WHICH ARE REPORTED 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 . * TOTALS MAY NOT ADD DUE TO R O U N D I N G . 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 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 B A N K S BY SIZE OF B A N K S 2/ AS OF 27 JUN 1973 CUMULATIVE PERCENTAGE $1 B I L L I O N AND OVER C D ' S MATURING IN $200 MILLION AND UNDER TOTAL $200 M I L L I O N TO $500 M I L L I O N PRIME 3/ $500 MILLION TO $1 BILLION TOTAL OUTSIDE NFW YORK CITY NEW YORK CITY NON-PRIME 4.9 5.3 5.5 5.1 7.0 4.9 5.6 JULY 42.6 40.1 41.1 42.1 43.2 46.1 40.0 42.2 AUGUST 61.3 57.0 58.7 61.1 62.1 68.3 56.5 56.9 SEPTEMBER 75.1 68.7 71.1 73.7 76.6 85.1 68.7 70.2 OCTOBER 80.3 74.3 77.2 80.1 *1.3 88.1 74.7 76.8 NOVEMBER 84.3 78.9 81.7 84.2 85.2 90.5 79.6 82.7 DECEMBER 88.7 84.2 86.8 88.1 89.5 93.6 85.1 87.6 90.9 86.8 90.2 89.9 91.5 94.7 87.7 91.2 FEBRUARY 91.8 89.0 91.8 91.1 92.1 95.0 88.5 92.5 MARCH 93.4 90.9 93.5 92.8 93.6 95.9 90.4 95.0 APRIL 95.0 93.0 95.7 94.6 95.0 96.5 92.5 97.0 MAY 96.1 94.8 97.1 96.2 95.9 97.3 93.5 98.0 JUNE 97.3 96.6 98.2 97.2 97.1 98.5 94.8 98.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1973 JUN 28-30 1974 JANUARY JULY OR LATER 4.1' 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 MORE ISSUED BY WEEKLY REPORTING B A N K S . 2 / TOTAL D E P O S I T S 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 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 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 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 B A S I S P O I N T S OF EACH OTHER WITHIN THE SECONDARY M A R K E T . # # # # $ * # # # # • e # « S • e e e S A L E S /I/ OF NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT SINCE P R E V I O U S MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF B A N K S 3/ AS OF 27 JUN 1973 PERCENTAGE DISTRIBUTION TABLE 3E $1 BILLION AND OVER CD'S MATURING 1973 JUN IN TOTAL *200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME JULY 36.7 49.4 38.7 38.3 35.0 34.8 31.2 47.7 AUGUST 16.0 14.1 , 18.6 19.2 14.9 15.3 14.7 13.8 SEPTEMBER 27.4 18.0 23.2 24.8 29.5 34.5 25.2 21.5 OCTOBER 3.6 3.1 4.1 5.5 3.1 2.6 4.2 2.0 NOVEMBER 2.3 1.5 2.A 1.5 2.5 2.5 2.5 2.4 DECEMBER 7.8 5.7 7.7 5.8 8.5 6.0 12.3 7.7 2.1 1.1 0.8 0.6 2.8 1 .6 4.8 1.9 FEBRUARY 0.2 0.6 0.4 0.2 0.2 0.1 0.1 0.3 MARCH 0.6 0.8 0.6 0.5 0.6 0.6 0.5 0.8 APRIL 0.2 0.4 0.2 0.4 0.1 0.0 0.2 0.2- MAY 0.2 0.4 0.2 0.4 0.1 0.0 0.3 0.0 JUNE OR IATER 2.8 4.7 2.6 ... 2.8 2.7 2.0 3.9 2.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * 100.0 NUMB (MEMORANDUM: 262 * TOTAL 28-30 1974 JANUARY 1/ 2/ 3/ 4/ PRIME 4/ 90 85 50 37 SEE T E C H N I C A L APPENDIX A• 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 R E P O R T I N G R A N K S . TOTAL D E P O S I T S AS R E P O R T E D IN THE CAIL REPORT OF CONDITION ON DECEMBER 31# 1965. 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 DEPOSIT ARE R E G A R D E D AS BEING OF THE HIGHEST QUALITY REPORTED BY D E A L E R S TO TRADE 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 . TOTALS MAY NOT ADD DUE TO R O U N D I N G . 12 AND WHICH ARE 18 TABLE 4 A 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 DEPOSIT 1/ AT WEEKLY REPORTING RANKS AT V A R I O U S SURVEY DATES (IN MONTHS) DATE OF SURVEY RANK C L A S S I F I C A T I O N 27 JUN 30 MAY 1973 1973 25 APR 1973 (BY L O C A T I O N ) ALL REPORTING B A N K S ISSUING CD 1 S 2.6 2.5 2.6 NEW YORK CITY 2.1 1.9 1 .9 CHICAGO 2.0 2.1 2.2 OTHFA 3.0 2.9 3.0 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 3.0 3.0 3.1 * 2 0 0 - 3 5 0 0 MILLION 2.7 2.8 2.9 $500-$1» 000 MILLION 2.7 2.6 2.8 OVER 2.5 2.4 2.4 PRIME IN NEW YORK CITY 3/ 2.1 1.9 1.9 PRIME O U T S I D E NEW YORK CITY 3/ 3.1 2.9 3.1 NON-PRIME 2.7 2.6 2.8 $1 BILLION 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 MOPF ISSUED RY WEEKLY RFPORTING B A N K S . 2/ TOTAL D E P O S I T S AS R E P O R T E D 3/ PRIME BANKS 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 TN THE CALL R E P O R T OF C O N D I T I O N ON DECEMBER 31, 1965. ^ ARE REGARDED AS BEING OF THE HIGHFST QUALITY AND WHICH 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 EACH OTHER WITHIN THE SECONDARY M A R K E T . • e # # e # e e e # e W TARLT 48 AVERAGE MATURITY OF NEGOTIABLE TIMF C E R T I F I C A T E S OF DEPOSIT 1/ SOLD BY WEEKLY R E P O R T I N G BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN M O N T H S ) DATE OF SURVEY RANK C L A S S I F I C A T I O N 27 JUN 1971 30 MAY 1973 25 APR 1973 (BY L O C A T I O N ) ALL REPORTING BANKS 2.4 2.2 2.2 NEW YORK CITY 2.3 2.1 1.8 CHICAGO 2.2 2.1 2.0 OTHFR 2.A 2.2 2.5 ISSUING CD'S (AY SIZE OF BANK) 2/ 2.3 2.2 2.5 $ 2 0 0 - $ 5 0 0 MILLION 2.3 2.2 2.4 $ 5 0 0 - $ L * 0 0 0 MILLION 2.3 2.1 2.3 OVER 2.5 2.2 2.2 2.3 2.1 1.8 PRIME OUTSIDE NEW YORK CITY 3/ 2.9 2.3 2.6 NON-PRIME 2.1 2.1 2.2 UNDER $200 MILLION $1 BILLION PRIME IN NEW YORK CITY 3/ 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 2/ TOTAL D E P O S I T S AS R E P O R T E D 3/ PR IMF 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 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 P O I N T S OF FACH OTHER WITHIN THE S E C O N D A R Y M A R K E T , NOTE — SEE TECHNICAL APPENDIX B. ISSUED BY WEEKLY R E P O R T I N G B A N K S . IN THE CALL REPORT OF CONDITION ON DECEMBER 31• 1965. TABLE 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 TO T O T A L 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/ DEPOSITS AT V A R I O U S S U R V E Y D A T E S (PER CENT) D A T E OF TOTAL D E P O S I T S 2/ (IM M I L L I O N S OF D O L L A R S ) ALL W A N K S rms 27 JUN ISSUING 1973 19.3 14.4 POO 12.3 12.3 12.1 ?no - soo 1*.0 16.0 IS.7 boo - 1 00<1 17.9 1*.2 17.0 OVEP 21.4 21 .5 20.3 27.2 27.2 26.S IB.A 1ft• 1 16.3 16.4 18.1 17.5 1000 PRIME IN NPW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIME INCLUDES CERTIFICATES ?/ TOTAL 25 APR 1973 19.2 UNDER ]/ 30 MAY 1973 SURVEY IN O F N O M I N A T I O N S OF D E P O S I T S «S R E P O R T E D IN T H E * 1 0 0 , 0 0 0 OR CALL R E P O R T OF MORE I S S U E D AY W F E K L Y C O N D I T I O N ON D E C E M R F R 11. REPORTING BANKS. 1965. 3/ PR IMF R 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 ARE R E G A R D E D AS B E I N G OF THF 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 T R A D E W I T H I N 1 OR ? B A S I S 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 . 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 AND U . S . G O V E R N M F N T D E P O S I T S . IN T H I S T A B L E ARE T O T A L D E M A N D AND T I M F DEPOSITS, INCLUDING TABLE 5B RATIO 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/ TO TOTAL D E P O S I T S AS OF 27 JUN 1973 (NUMBER OF B A N K S ) torn, D E P O S I T S 2 , UN M M I L L I O N S OF O O L L . P S , * LESS »• .« Jo TO o«* ""EPOSIT 1« M.L = . N K S ISSUING ^ UNDER 200 18 18 24 IS 7 5 200 - 500 1« » I7 16 1° 16 500 - 1000 4 8 10 8 7 13 OVER 2 4 8 6 5 12 0 0 0 0 2 0 5 3 0 4 3 1 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW YORK 3 NONPRIME / „ 0 2 1/ INCLUDES C E R T I F I C A T E S „ I,.I 1 2 , 3 16 17.9 2 1 , 4 5 4 3 *° 27.2 1 0 , B 3 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 B A N K S . ?/ TOTAL 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 311 1965. - : r : E : : , r : NOTE- D E P O S I T S IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME D E P O S I T S , INTERBANK AND U . S . GOVERNMENT D E P O S I T S . INCLUDING TABLE 5C PER CENT CHANGE IN O U T S T A N D I N G N E G O T I A B L E TIME CERTIFICATE OF D E P O S I T /I 30 MAY 1973 TO 27 JUN 1973 (NUMBER OF BANKS) D E C L I N E S OF TOTAL D E P O S I T S 2/ REDUCED CD'S TO ZERO (IN M I L L I O N S OF D O L L A R S ) INCREASES 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 RUT HAD NONE O U T S T A N D ING ONJ BASE DATE ALL RANKS ISSUING CD'S 0 48 41 58 5 42 25 41 2 UNDER 200 0 18 13 18 2 14 9 15 1 200 - 500 0 13 11 20 3 15 9 13 1 500 - 1000 0 9 11 12 0 8 2 8 0 0 8 6 8 0 5 5 5 0 0 2 1 0 0 2 2 0 0 0 1 0 4 0 2 1 4 0 0 5 5 4 0 1 2 1 0 OVER 1000 PRIMFC: IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3/ NONPRIML 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 MORE ISSUFD HY WEEKLY REPORTING B A N K S . 2/ TOTAL D E P O S I T S AS R E P O R T E D IN THE CALL R E P O R T OF CONDITION 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 DEPOSIT ARE REGARDED AS BEING OF THE H I G H E S T Q U A L I T Y AND WHICH 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 S E C O N D A R Y M A R K E T . NOTE- THE NUMBER OF RANKS IN THIS TABLE D I F F E R S 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 CD'S ON THE LAST SURVEY R E D U C E D THFIR O U T S T A N D I N G S TO ZERO ON THIS S U R V E Y . # $ e # # • • • • • • TABLE SD PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 28 MAR 1973 TO 27 JUN 1973 (NUMBER OF BANKS) TOTAL DEPOSITS /2 (IN MILLIONS OF DOLLARS) REDUCED CD'S ?5% OR TO ZERO MORE INCREASE OF DECLINES OF 20 TO 25% 10 TO 15% 15 TO 20% - - - - - - — — — — — — — — — — — — — — — — — — — — — — — — 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10 TO 15% 25% OR MORE 20 TO 25% 15 TO 20% ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE ALL BANKS ISSUING CD'S 0 17 10 9 10 18 32 1 28 25 12 22 15 61 2 UNDER 200 0 7 5 4 6 9 a 1 8 5 1 5 2 26 1 200 - 50 0 0 4 2 3 3 2 10 0 14 9 5 8 6 18 1 500 - 1000 0 4 2 0 0 5 7 0 3 6 3 7 4 9 0 OVER 1000 0 2 1 2 1 2 7 0 3 5 1 2 3 8 0 PRIME IN NEW YORK 3/ 0 0 1 1 0 0 1 0 1 1 0 1 0 1 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 0 0 0 1 1 1 1 2 6 0 NONPRIME 0 ? 0 1 1 2 6 0 1 3 0 0 1 1 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31. 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THF HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 30 MAY 1973 TO 27 JUN 1973 (NUMBER OF BANKS) INCREASES OF DECLINES OF TOTAL DEPOSITS 2/ - - - - - - - — — — — — — — — —— — — — — — — — — — — — — (IN MILLIONS OF DOLLARS) ALL RANKS ISSUING CD'S 3* AND OVER 1 TO ?% 2 TO 3% \% AND LESS NO CHANGE 1% AND LESS - - - - 3% AND OVER 2 TO 3% 1 TO 2% 13 16 IS 85 5 59 25 12 10 UNDER 200 5 7 9 28 2 27 5 5 1 POO - SON 1 1 13 30 3 22 6 ? 500 - 1000 2 5 9 17 0 6 4 5 ? OVER 1000 5 3 4 10 0 4 10 0 1 PRIME IN NEW YORK 3/ 1 2 0 0 0 1 3 0 0 PRIME OUTSIDE NEW YORK 3/ 0 1 1 3 0 2 4 0 1 NONPRIME 4 0 3 7 0 1 3 0 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING RANKS, 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31. 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS. INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE SF C H A N G E IN 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 1/ OVER THE LAST THREF MONTHS AS A PER CENT OF TOTAL D E P O S I T S AT THE B E G I N N I N G OF THE PERIOD 28 MAR 1973 TO 27 JUN 1973 (NUMBER OF B A N K S ) INCREASES OF DECLINES 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 ) 5% AND OVER 4 TO 5% — — — — — — — — — — — — — — mm mm mm ^ ^ mm 3 TO 4% 1% AND LESS 1 TO 2% 2 TO 3% NO CHANGE 1% AND UNDER — • 1 TO 2% 5% AND OVER 4 TO 5% 3 TO 4% 2 TO 3% ALL B A N K S ISSUING CD • S 8 6 3 9 22 49 1 51 27 26 19 17 UNDER 200 3 3 1 7 10 15 1 15 12 E A 5 200 - 500 ti 1 0 1 8 14 0 26 7 10 4 7 6 500 - 1000 2 1 1 1 1 13 0 5 7 3 2 5 9 OVER 1000 3 1 1 0 3 7 0 5 1 5 5 0 6 1 1 0 0 1 0 0 1 0 1 1 0 1 P R I M E O U T S I D E NEW YORK 3/ 0 0 0 0 0 0 0 2 0 2 3 0 5 NONPRIME 2 0 1 0 2 7 0 2 1 2 1 0 0 PRIME IN NEW YORK 3/ 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 OP MORE ISSUED BY WEEKLY R E P O R T I N G R A N K S . 2 / TOTAL 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 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 THF. HIGHEST Q U A L I T Y AND WHICH 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 P O I N T S 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 RATIO IN T H I S TABLE ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING INTERBANK AND U . S . G O V E R N M E N T D E P O S I T S . 2/ 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 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 F E D E R A L R E S E R V E DISTRICT AS OF 2 7 JUN 1973 (AMOUNTS IN M I L L I O N S OF DOLLARS) CD'S M A T U R I N G IN ALL DISTRICTS BOSTON 3159.4 155.1 JUL 22066.3 AUG 11046.5 1973 JUN 28-JUN 30 NEW YORK ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 440.8 57.1 59.9 59.3 163.0 433.8 921.5 3605.7 322.8 362.2 402.3 1177.1 2946.7 338.7 363.9 1647.5 199.7 172.5 216.4 493.2 1450.2 289.7 257.3 321.7 1226.3 79.8 97.3 156.5 331.0 1118.2 PHILADELPHIA CLEVELAND 1257.8 131.8 968.7 8995.0 458.1 RICHMOND ATLANTA CHICAGO 147.8 132.1 120.9 722.2 1083.7 558.4 4842.1 358.9 505.3 324.9 3597.8 360.5 SEP A16 1 OCT 3072.8 235.5 718.5 158.9 152.5 135.0 220.5 521.0 49.5 40.2 91.6 132.3 617.3 NOV 2391.4 148.6 609.3 138.8 117.5 99.6 142.7 367.0 30.1 20.5 68.6 103.6 545.1 DEC 2593.6 96.0 690.1 166.0 74.6 77.4 173.3 283.0 34.3 21.0 78.5 152.3 747.1 1974 JAM 1297.8 29.2 255.8 91.1 58.7 60.7 82.4 130.4 18.6 5.7 49.3 98.6 417.3 FER 554.6 15.5 71.5 36.0 36.2 31.2 50.2 50.9 26.9 2.7 32.2 49.3 152.0 MAP 945.4 76.7 259.7 49.2 43.4 37.5 41.7 67.0 17.2 2.9 28.8 52.7 268.6 APR 945.5 115.8 145.1 15.0 90.2 41.6 73.9 74.4 20.5 3.7 34.0 78.5 252.8 MAY 656.8 85.3 168.1 19.1 59.5 38.1 38.9 35.2 11.7 1.9 36.9 45.9 116.2 JUN 694.2 102.3 222.8 7.2 39.7 13.7 42.3 33.4 4.1 3.2 24.4 43.9 157.2 1626.6 90.3 306.1 87.2 472.2 40.0 75.5 200.4 22.0 3.5 40.2 28.2 261.0 2902.0 2 2 1 3 9 . 7 2341.9 3171.0 1861.3 2669.4 8683.0 894.3 797.2 1319.0 2949.6 9483.5 3.3 2.6 3.2 19 24 33 JUL OR LATER TOTAL * e 0 59211.9 A V E R A G E MATURITY IN M O N T H S 2/ 2.6 3.2 2.0 2.9 3.9 2.8 3.0 2.1 2.6 NUMBER OF R E P O R T I N G BANKS 260 19 41 9 23 17 23 36 11 1/ I N C L U D E S ONLY 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 $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY R E P O R T I N G B A N K S . 2 / SEE TECHNICAL APPENDIX B. http://fraser.stlouisfed.org/ • D E T A I L ^ MAY NOT A D D ^ O TOTALS D U ^ T O ROUNDING Federal Reserve Bank of St. Louis 1 .6 5 ' • e e e e # # TABLE 6B 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 SINCE P R E V I O U S MONTH WEEKLY R E P O R T I N G B A N K S BY FEDERAL R E S E R V E DISTRICT AS OF 27 JUN 1973 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) CD'S MATURING IN ALL DISTRICTS BOSTON JUL 7468.1 351.7 AUG 3255.6 SEP RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 404.9 161.7 288.1 937.9 127.2 122.1 148.4 496.6 1096,4 85.7 150.4 56.7 108.7 497.0 73.6 108.8 58.6 169.9 456,2 2730.3 174.7 199.3 158.1 143.6 955.7 34.1 73.6 100.4 185.9 647,7 55.8 213.3 29.6 34.6 41.5 41.2 143.9 22.1 20.1 17.0 24.3 8A5 479.1 9.9 185.0 36.2 19.8 5.0 28.7 102.2 5.3 7.5 15.1 25.9 33.5 DEC 1597.9 39.4 481.5 63.8 30.0 49.7 98.7 177.0 11.7 7.2 22.2 70.1 546.6 1974 JAM 436.2 5.2 123.4 9.2 4.0 6.1 11.1 50.3 1.4 0.5 1.6 24.8 198.6 FER 43.0 1.3 11.0 0.3 3.0 3.6 5.1 9.0 0.9 0.2 0.1 3.4 5.1 MAR 119.7 0.3 46.7 3.2 11.9 3.4 2.6 19.0 5.4 0.2 1.5 10.0 15.5 APR 30.2 3.1 3.0 0.0 5.4 2.9 5.3 1.7 0.7 0.2 2.3 3.4 2.2 MAY 37.8 2.9 2.4 o.*L 8.2 5.1 1.6 2.2 0.5 0.7 0.6 6.2 6.6 581.6 69.0 150.9 2.2 70.1 12.8 34.5 22.8 2.9 1.6 14.8 45.2 154.8 20376.2 911.6 8368.0 627.0 941.6 $06.6 769.2 2918.7 285.8 342.7 382.6 1065.7 3256.7 2.4 2.6 2.2 2.3 2.6 2.7 2.8 2.2 1.9 2.4 2.3 3.0 1973 PHILADELPHIA CLEVELAND 3111.8 221.3 181.3 1308.7 5595.1 191.7 OCT 731.9 NOV JUN OR LATER TOTAL * AVERAGE M A T U R I T Y IN M O N T H S 3/ NEW YORK 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY 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 $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY R E P O R T I N G R A N K S . 3 / SEE TECHNICAL APPENDIX B. » 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 . 1 .8 TABLE 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 TIME C E R T I F I C A T E S OF DEPOSIT AT WEEKLY REPORTING BANKS BY F E D E R A L RESERVE DISTRICT 1/ AS OF 27 JUN 1973 (PERCENTAGE D I S T R I B U T I O N ) C D ' S MATURING IN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 5.1 6.4 7.5 4.5 5.5 4.6 34.5 41.5 36.1 45.4 30.5 39.9 31.1 18.2 13.6 19.0 22.3 21.6 16.4 16.7 15.3 9.1 13.8 12.1 14.1 12.2 1 1 .9 11.2 11.8 6.8 4.8 7.3 8.3 6.0 5.5 5.0 6 . 9 4.5 6.5 2.8 5.9 3.7 5.4 5.3 4.2 3.4 2.6 5.2 3.5 5.7 3.3 3.1 7.1 2.4 4.2 6.5 3.3 3.8 2.6 6.0 5.2 7.9 2.2 1.0 1.2 3.9 1.9 3.3 3.1 1.5 2.1 0.7 3.7 3.3 4.4 FEB 0.9 0.5 0.3 1.5 1.1 1.7 1.9 0.6 3.0 0.3 2.4 1.7 1.6 MAR 1.6 2.6 1.2 2.1 1.4 2.0 1.6 0.8 1.9 0.4 2.2 1.8 2.8 APR 1.6 4.0 0.7 0.6 2.8 2.2 2.8 0.9 2.3 0.5 2.6 2.7 2.7 MAY 1.1 2.9 0.8 0.8 1.9 2.0 1.5 0.4 1.3 0.2 2.8 1.6 1 . 2 JUN 1.2 3.5 1.0 0.3 1.3 0.7 1.6 0.4 0.5 0.4 1.8 1.5 1.7 JUL OR LATER 2.7 3.1 1.4 3.7 14.9 2.1 2.8 2.3 2.5 0.4 3.0 1.0 2.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL DISTRICTS BOSTON 5.3 5.3 JUL 37.3 AUG RICHMOND ATLANTA PHILADELPHIA CLEVELAND 5.7 5.6 4.7 7.1 4.5 33.4 40.6 30.8 34.2 30.0 18.7 15.a 21.9 15.3 15.9 SEP 13.A 11.2 16.3 15.4 OCT 5.2 8.1 3.2 NOV 4.0 5.1 DEC 4.4 JAN 1973 JUN 28-JUN 30 1974 NEW YORK TOTAL * CHICAGO 8 . 9 1/ INCLUDES ONLY 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 $100,000 OR MORE BY WEEKLY R E P O R T I N G B A N K S . • • • • • • • • • • • TABLE F,n MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 27 JUN 1973 (CUMULATIVE PERCENTAGE) ALL DISTRICTS BOSTON 5.3 5.3 JUL 42.6 AUG MATURING IN RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO PHILADELPHIA CLEVELAND 5.7 5.6 4.7 7.1 4.5 5.1 6.4 7.5 4.5 5.5 4.6 38.7 46.3 36.4 38.9 37.1 39.0 46.6 42.5 52.9 35.0 45.4 35.7 61.3 54.5 68.2 51.7 54.8 55.3 52.6 65.6 64.8 74.5 51.4 62.1 SEP 75.1 65.7 84.5 67.1 63.9 69.1 64.7 79.7 73.7 86.7 63.3 73.3 OCT 80.3 73.8 87.7 73.9 68.7 76.4 73.0 85.7 79.2 91.7 70.2 77.8 NOV 84.3 78.9 90.5 79.8 72.4 81.8 78.3 89.9 82.6 94.3 75.4 81.3 75.0 DEC 88.7 82.2 93.6 86.9 74.8 86.0 84.8 93.2 86.4 96.9 *1.4 86.5 82.9 JAN 90.9 83.2 94.A 90.8 76.7 89.3 87.9 94.7 88.5 97.6 R5.1 89.8 87.3 FEB 91,8 83.7 95.1 92.3 77.8 91.0 89.8 95.3 91.5 97.9 87.5 91.5 88.9 MAP 93.4 86.3 96.3 94.4 79.2 93.0 91.4 96.1 93.4 98.3 89.7 93.3 91.7 APR 95.0 90.3 97.0 95.0 82.0 95.2 94.2 97.0 95.7 98.8 92.3 96.0 94.4 MAY 96.1 93.2 97.8 95.8 83.9 97.2 95.7 97.4 97.0 99.0 95.1 97.6 95.6 JUN 97.3 96.7 98.8 96.1 85.2 97.9 97.3 97.8 97.5 99.4 96.9 99.1 97.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 JUN 28-JUN 30 JUL OR LATER NEW YORK 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 62.8 TABLE 6E 1/ 2/ SALFS OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 27 JUN 1973 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS BOSTON 1973 UUL 34.7 39.6 AUG 16.0 SEP KANSAS CITY „ DALLAS SAN FRANCISCO ST. LOUIS MINNEAPOLIS 32.1 44.5 35.6 38.8 46 . 6 33.7 14.1 17.0 25.8 31.7 15.3 15.9 14.0 31.2 18.7 32.7 11.9 21.5 26.2 17.4 19.9 3.7 8.2 5.4 4.9 7.7 5.9 4.4 2.3 2.7 5.8 2.1 1.0 3.7 3.5 1.9 2.2 3.9 2.4 1.2 5.A 10.2 3.2 9.8 12.8 6.1 4.1 2.1 5.8 6.6 16.8 0.6 1.5 1.5 0.4 1.2 1.4 1.7 0.5 0.1 0.4 2.3 6.1 0.2 0.1 0.1 0.0 0.3 0.7 0.7 0.3 0.3 0.1 0.0 0.3 0.2 MAR 0.6 0,0 0.6 0.5 1.3 0.7 0.3 0.7 1.9 0.1 0.4 0.9 0.5 APR 0.1 0.3 0.0 0.0 0.6 0.6 0.7 0.1 0.2 0.1 0.6 0.3 0.1 MAY 0.2 0.3 0.0 0.1 0.9 1.0 0.2 0.1 0.2 0.2 0.2 0.6 0.2 JUN OR LATER 2.9 7.6 1.8 0.4 7.4 2.5 4.5 0.8 1.0 0.5 3.9 4.2 4.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 RICHMOND ATLANTA PHILADELPHIA CLEVELAND 37.2 35.3 43.0 31.9 37.5 19.9 15.6 13.7 16.0 11.2 27.5 21.0 32.6 27.9 21.2 OCT 3.6 6.1 2.5 4.7 NOV 2.4 1.1 2.2 DEC 7.8 4.3 1974 JAN 2.1 FEP TOTAL * NEW YORK CHICAGO 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. » DETAILS MAY NOT AOD TO TOTALS DUE TO ROUNDINfi. 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- parable1 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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