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1.4.1(731) NOT FOR PUBLICATION SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE COMMERCIAL BANKS AS OF AUGUST BANKING SECTION DIVISION OF RESEARCH AND STATISTICS BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 27, 1986 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERICAL BANKS AS OF AUGUST 27, 1986 GROSS SALES (ESTIMATED) OUTSTANDING CD'S MATURING IN 1986 AMOUNT (IN MILLIONS) PERCENTAGE 13,476.1 28.8 7,195.7 55.1 OCTOBER 4,644.6 9.9 1,389.9 10.6 NOVEMBER 2,801.9 6.0 1,170.2 9.0 DECEMBER 2,091.7 4.5 293.7 2.2 JANUARY 1,860.6 4.0 361.2 2.8 FEBRUARY 1,024.4 2.2 MARCH-AUGUST (7-12 MONTHS) 5,831.7 12.5 2,654.1 20.3 OVER 12 MONTHS 13,494.6 13,064.7 100.0 TOTAL 46,842.5 AVERAGE MATURITIES (IN MONTHS) 5.7 NUMBER OF BANKS REPORTING 38 NOTE; • 00 3.5 28-31 OO CM 1,616.9 AUGUST SEPTEMBER 1987 PERCENTAGE AMOUNT (IN MILLIONS) 100.0 INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,0Q0 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. GROSS SALES ESTIMATES REFLECT CHANGES FROM THE PREVIOUS SURVEY TO THE CURRENT SURVEY IN OUTSTANDINGS FOR EACH OF THE FIRST FIVE FULL MONTHS AND FOR OUTSTANDINGS BEYOND THE FIFTH MONTH. CHANGES IN OUTSTANDINGS FOR THE REMAINING DAYS OF THE SURVEY MONTH ARE EXCLUDED FROM TOTAL SALES ESTIMATES. TABLE 1 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF AUGUST 27, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) OUTSTANDINGS CD1 MATURING IN 1986 AUGUST TOTAL 28-31 OUTSIDE NEW YORK CITY TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 1,616.9 407.0 1,209.9 13,476.1 3,018.7 10,457.5 7,195.7 1,448.0 5,747.7 OCTOBER 4,644.6 1,030.6 3,613.9 1,389.9 192.4 1,197.5 NOVEMBER 2,801.9 718.2 2,083.6 1,170.2 232.9 937.3 DECEMBER 2,091.7 558.6 1,533.2 293.7 54.3 239.4 JANUARY 1,860.6 456.1 1,404.5 361.2 51.2 310.0 FEBRUARY 1,024.4 203.5 820.8 MARCH-AUGUST (7-12 MONTHS) 5,831.7 1,469.0 4,362.7 2,654.1 561.2 2,092.8 OVER 12 MONTHS 13,494.6 4,832.3 8,662.3 46,842.5 12,694.1 34,148.4 13,064.7 2,540.0 10,524.7 SEPTEMBER 1987 NEW YORK CITY SALES (ESTIMATED) TOTAL AVERAGE MATURITIES (IN MONTHS) NUMBER OF BANKS REPORTING NOTE: 5.7 6.7 5.4 38 9 29 INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. TABLE 2 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF AUGUST 27, 1986 (PERCENTAGE DISTRIBUTION) SALES (ESTIMATED) OUTSTANDINGS CD 1 MATURING IN 1986 TOTAL TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 3.5 3.2 3.5 28.8 23.8 30.6 55.1 57.0 54.6 OCTOBER 9.9 8.1 10.6 10.6 7.6 11.4 NOVEMBER 6.0 5.7 6.1 9.0 9.2 8.9 DECEMBER 4.5 4.4 4.5 2.2 2 1 2.3 JANUARY 4.0 3.6 4.1 2.8 2.0 2.9 FEBRUARY 2.2 1.6 2.4 MARCH-AUGUST (7-12 MONTHS) 12.5 11.6 12.8 20.3 22.1 19.9 OVER 12 MONTHS 28.8 38.1 25.4 100.0 100.0 100.0 100.0 100.0 100.0 AUGUST 28-31 SEPTEMBER 1987 OUTSIDE I NEW YORK CITY j1 NEW YORK CITY 1 TOTAL NOTE: INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. TABLE 3 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF AUGUST 27, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) OUTSTANDINGS CD'S MATURING IN 1986 AUGUST TOTAL 28-31 CD FUTURES CONTRACT BANKS OTHER TOTAL CD FUTURES 1 CONTRACT BANKS J OTHER 1,616.9 534.0 1,082.9 13,476.1 4,126.8 9,349.4 7,195.7 1,925.5 5,270.2 OCTOBER 4,644.6 1,492.6 3,151.9 1,389.9 377.3 1,012.6 NOVEMBER 2,801.9 1,234.0 1,567.9 1,170.2 466.2 704.0 DECEMBER 2,091.7 910.1 1,181.7 293.7 61.3 232.3 JANUARY 1,860.6 748.5 1,112.1 361.2 71.7 289.5 FEBRUARY 1,024.4 316.2 708.2 MARCH-AUGUST (7-12 MONTHS) 5,831.7 2,346.8 3,484.9 2,654.1 831.2 1,822.9 OVER 12 MONTHS 13,494.6 6,673.5 6,821.1 46,842.5 18,382.4 28,460.1 13,064.7 3,733.2 9,331.5 SEPTEMBER 1987 SALES (ESTIMATED) TOTAL AVERAGE MATURITIES (IN MONTHS) NUMBER OF BANKS REPORTING NOTE: | | 1 5.7 6.7 38 9 5.2 1 I I 1 II 1 11 29 i INCLUDES NEGOTIABLE CERTIFICATES OF.DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. "CD FUTURES CONTRACT BANKS" INCLUDE THOSE WHOSE CD"S ARE CONSIDERED AS PART OF THE DELIVERABLE CD SUPPLY FOR PURPOSES OF FUTURE TRADING. TABLE 4 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF AUGUST 27, 1986 (PERCENTAGE DISTRIBUTION) SALES (ESTIMATED) OUTSTANDINGS CD'S MATURING IN 1986 TOTAL OTHER TOTAL CD FUTURES CONTRACT BANKS OTHER 3.5 2.9 3.8 28.8 22.5 32.9 55.1 51.6 56.5 OCTOBER 9.9 8.1 11.1 10.6 10.1 10.9 NOVEMBER 6.0 6.7 5.5 9.0 12.5 7.5 DECEMBER 4.5 5.0 4.2 2.2 1.6 2.5 JANUARY 4.0 4.1 3.9 2.8 1.9 3.1 FEBRUARY 2.2 1.7 2.5 MARCH-AUGUST (7-12 MONTHS) 12.5 12.8 12.2 20.3 22.3 19.5 OVER 12 MONTHS 28.8 36.3 24.0 100.0 100.0 100.0 100.0 100.0 100.0 AUGUST 28-31 SEPTEMBER 1987 CD FUTURES CONTRACT BANKS TOTAL NOTE: INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. "CD FUTURES CONTRACT BANKS" INCLUDE THOSE WHOSE CD"S ARE CONSIDERED AS PART OF THE DELIVERABLE CD SUPPLY FOR PURPOSES OF FUTURE TRADING. TABLE 5 MATURITY DISTRIBUTION OF OUTSTANDING NE60TIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF AUGUST 27, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) ALL DISTRICTS CD'S MATURING IN 1986 NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN I FRAN- | CISCO I 1,617 89 407 6 174 124 16 455 0 0 0 176 170 13,476 328 3,019 129 1,129 909 122 2,868 0 0 0 1,731 3,241 OCTOBER 4,645 315 1,031 26 298 599 39 717 0 0 0 515 1,104 NOVEMBER 2,802 26 718 25 185 213 33 330 0 0 0 418 854 DECEMBER 2,092 3 559 9 203 136 16 315 0 0 0 352 499 JANUARY 1,861 4 456 22 94 206 20 421 0 0 0 176 462 FEBRUARY 1,024 1 204 42 39 209 11 177 0 0 0 124 218 MARCH-AUGUST (7-12 MONTHS) 5,832 34 1,469 78 671 220 103 1,057 0 0 0 686 1,514 OVER 12 MONTHS 13,495 3 4,832 324 2,883 487 111 878 0 0 0 1,397 2,579 46,842 804 12,694 661 5,676 3,101 470 7,219 0 0 0 5,574 10,643 AUGUST 28-31 SEPTEMBER 1987 BOSTON TOTAL AVERAGE MATURITIES (IN MONTHS) 5.7 1.5 6.7 8.1 8.0 4.2 5.9 4.0 NUMBER OF BANKS REPORTING 38 1 9 1 4 4 2 5 NOTE: .0 .0 .0 INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. 5.3 4 5.4 | 8 | TABLE 6 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF AUGUST 27, 1986 (PERCENTAGE DISTRIBUTION) ALL DISTRICTS CD'S MATURING IN 1986 NEW YORK i CLEVEIPHIIALAND IDELPHIA 1 1 RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 1.6 3.5 11.1 3.2 .8 3.1 4.0 3.4 6.3 .0 .0 .0 3.2 28.8 40.9 23.8 19.6 19.9 29.3 25.9 39.7 .0 .0 .0 31.1 OCTOBER 9.9 39.2 8.1 4.0 5.3 19.3 8.2 9.9 .0 .0 .0 9.2 10.4 NOVEMBER 6.0 3.2 5.7 3.8 3.3 6.9 6.9 4.6 .0 .0 .0 7.5 8.0 DECEMBER 4.5 .4 4.4 1.4 3.6 4.4 3.3 4.4 .0 .0 .0 6.3 4.7 JANUARY 4.0 .5 3.6 3.4 1.7 6.6 4.3 5.8 .0 .0 .0 3.2 4.3 FEBRUARY 2.2 .1 1.6 6.3 .7 6.7 2.4 2.5 .0 .0 .0 2.2 2.1 MARCH-AUGUST (7-12 MONTHS) 12.5 4.3 11.6 11.7 11.8 7.1 22.0 14.7 .0 .0 .0 12.3 14.2 OVER 12 MONTHS 28.8 .4 38.1 49.0 50.8 15.7 23.5 12.2 .0 .0 .0 25.1 24.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 .0 .0 .0 100.0 100.0 AUGUST 28-31 SEPTEMBER 1987 BOSTON TOTAL NOTE: INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. ' 30.5 TABLE 7 SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF AUGUST 27, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN 1987 ALL DISTRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO SEPTEMBER 7,196 206 1,448 55 766 274 81 1,602 0 0 0 1,012 1,752 OCTOBER 1,390 274 192 18 87 117 9 215 0 0 0 115 362 NOVEMBER 1,170 19 233 7 49 47 16 195 0 0 0 165 439 DECEMBER 294 0 54 1 110 50 0 37 0 0 0 14 28 JANUARY 361 1 51 0 15 45 12 186 0 0 0 2 48 2,654 1 561 4 448 261 3 691 0 0 0 241 442 13,065 501 2,540 86 1,475 795 122 2,925 0 0 0 1,550 3,071 AFTER JANUARY TOTAL NOTE: INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. TABLE 8 SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF AUGUST 27, 1986 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN 1987 ALL DIST| RICTS 1 BOSTON NEW YORK IPHILAIDELPHIA 1 CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SEPTEMBER 55.1 41.0 57.0 64.0 51.9 34.5 66.7 54.8 .0 .0 .0 65.3 OCTOBER 10.6 54.7 7.6 21.3 5.9 14.7 7.3 7.3 .0 .0 .0 7.4 NOVEMBER 9.0 3.8 9.2 8.4 3.3 5.9 13.4 6.6 .0 .0 .0 10.6 DECEMBER 2.2 .1 2.1 1.1 7.4 6.3 .0 1.2 .0 .0 .0 .9 JANUARY 2.8 .3 2.0 .5 1.0 5.7 9.9 6.4 .0 .0 .0 .1 20.3 .2 22.1 4.7 30.4 32.9 2.8 23.6 .0 .0 .0 15.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 .0 ,0 .0 100.0 AFTER JANUARY TOTAL NOTE: INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. SAN ! FRAN - 1 CISCO 1 1 1 57.0 1 I 11.8 1 I 14.3 1 I .9 1 1.6 1 I 14.4 1 | 100.0 I 1
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