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1.4.1(731) HOT FOR PUBLICATION SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE COMMERCIAL BANKS AS OF DECEMBER BANKING SECTION DIVISION OF RESEARCH AND STATISTICS BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 3 1 , 1986 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERICAL BANKS AS OF DECEMBER 3 1 , 1986 | CD'S MATURING IN OUTSTANDING AMOUNT ( I N MILLIONS) I I PERCENTAGE AMOUNT ( I N MILLIONS) PERCENTAGE 1 1 - 1987 GROSS SALES (ESTIMATED) 1 15,145.3 32.9 9,657.5 67.1 FEBRUARY 4,019.9 8.7 1,738.4 12.1 MARCH 3,120.1 6.8 1,359.2 9.4 APRIL 1,472.4 3.2 279.5 1.9 MAY 1,517.9 3.3 42.2 0.3 JUNE 2,657.7 5.8 JULY-DECEMBER ( 7 - 1 2 MONTHS) 4,004.4 8.7 1,306.5 9.1 OVER 12 MONTHS 14,103.4 30.6 46,041.0 100.0 14,383.3 100.0 JANUARY TOTAL AVERAGE MATURITIES ( I N MONTHS) 5.7 NUMBER OF BANKS REPORTING 38 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. GROSS SALES ESTIMATES REFLECT CHANGES FROM THE PREVIOUS SURVEY TO THE CURRENT SURVEY I N 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. II 1 TABLE 1 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF DECEMBER 31, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) I | I OUTSTANDINGS CD' MATURING I N 1987 JANUARY TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY I | I SALES (ESTIMATED) TOTAL | NEW YORK CITY OUTSIDE NEW YORK CITY 15,145.3 3,992.0 11,153.3 9,657.5 2,487.9 7,169.6 FEBRUARY 4,019.9 1,333.0 2,686.9 1,738.4 855.6 882.9 MARCH 3,120.1 912.7 2,207.4 1,359.2 556.4 802.8 APRIL 1,472.4 311.2 1,161.2 279.5 95.1 184.4 MAY 1,517.9 457.3 1,060.6 42.2 12.6 29.6 JUNE 2,657.7 838.8 1,818.9 JULY-DECEMBER ( 7 - 1 2 MONTHS) 4,004.4 793.7 3,210.7 1,306.5 313.2 993.3 OVER 12 MONTHS 14,103.4 5,740.4 8,363.0 46,041.0 14,379.1 31,662.0 14,383.3 4,320.7 10,062.6 TOTAL AVERAGE MATURITIES ( I N MONTHS) NUMBER OF BANKS REPORTING NOTEs 5.7 6.5 5.3 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 3 1 , 1982. TOTAL SALES I S 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 DECEMBER 3 1 , 1986 (PERCENTAGE DISTRIBUTION) SALES (ESTIMATED) OUTSTANDINGS CD' MATURING I N TOTAL OUTSIDE I I I NEW YORK CITY I NEW YORK CITY I I OUTSIDE NEW YORK CITY 1 1 1 1 1 00 32.9 rs. CVI JANUARY | NEW YORK CITY 1 I 1 i I I I I I 1987 TOTAL 35.2 67.1 57.6 71.3 8.7 9.3 8.5 12.1 19.8 CO MARCH 6.8 6.4 7.0 9.4 12.9 8.0 APRIL 3.2 2.2 3.7 1.9 2.2 1.8 MAY 3.3 3.2 3.4 .3 .3 .3 JUNE 5.8 5.8 5.7 JULY-DECEMBER ( 7 - 1 2 MONTHS) 8.7 5.5 10.1 9.1 7.2 9.9 OVER 12 MONTHS 30.6 39.9 26.4 100.0 100.0 100.0 100.0 100.0 100.0 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 3 1 , 1982. TOTAL SALES I S UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED. 00 FEBRUARY Ill ill TABLE 3 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF DECEMBER 31, 1986 (AMOUNTS I N MILLIONS OF DOLLARS) SALES (ESTIMATED) OUTSTANDINGS CD'S MATURING I N 1987 TOTAL I CD FUTURES | |CONTRACT BANKS I TOTAL OTHER I CD FUTURES |CONTRACT BANKS OTHER 15,145.3 5,072.0 10,073.3 9,657.5 3,293.6 6,363.9 FEBRUARY 4,019.9 1,423.0 2,597.0 1,738.4 788.5 949.9 MARCH 3,120.1 1,066.3 2,053.8 1,359.2 532.8 826.4 APRIL 1,472.4 358.9 1,113.4 279.5 55.7 223.7 MAY 1,517.9 755.6 762.3 42.2 15.0 27.1 JUNE 2,657.7 1,267.1 1,390.7 JULY-DECEMBER ( 7 - 1 2 MONTHS) 4,004.4 1,280.1 2,724.3 1,306.5 273.4 1,033.1 OVER 12 MONTHS 14,103.4 7,386.6 6,716.8 46,041.0 18,609.5 27,431.5 14,383.3 4,959.2 9,424.1 JANUARY TOTAL AVERAGE MATURITIES ( I N MONTHS) NUMBER OF BANKS REPORTING NOTE: | 5.7 6.6 5.0 38 9 29 1 INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT I N DENOMINATIONS OF $100,000 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 3 1 , 1982. TOTAL SALES I S 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 DECEMBER 3 1 , 1986 (PERCENTAGE DISTRIBUTION) I I OUTSTANDINGS CD'S MATURING IN 1987 TOTAL CD FUTURES CONTRACT BANKS SALES (ESTIMATED) OTHER TOTAL CD FUTURES CONTRACT BANKS OTHER 32.9 27.3 36.7 67.1 66.4 67.5 FEBRUARY 8.7 7.7 9.5 12.1 15.9 10.1 MARCH 6.8 5.7 7.5 9.4 10.7 8.8 APRIL 3.2 1.9 4.1 1.9 1.1 2.4 MAY 3.3 4.1 2.8 .3 .3 .3 JUNE 5.8 6.8 5.1 JULY-DECEMBER ( 7 - 1 2 MONTHS) 8.7 6.9 9.9 9.1 5.5 11.0 OVER 12 MONTHS 30.6 39.7 24.5 100.0 100.0 100.0 100.0 100.0 100.0 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 3 1 , 1982. TOTAL SALES I S 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 NEGOTIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF DECEMBER 31, 1986 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING I N JANUARY ALL DISTRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 15,145 702 3,992 147 861 1,374 114 3,022 0 0 0 1,896 3,036 FEBRUARY 4,020 69 1,333 92 139 674 39 583 0 0 0 345 747 MARCH 3,120 127 913 15 152 659 27 502 0 0 0 208 517 APRIL 1,472 12 311 7 90 260 103 249 0 0 0 176 266 MAY 1,518 2 457 20 84 92 14 174 0 0 0 199 476 JUNE 2,658 7 839 27 184 126 15 587 0 0 0 242 631 JULY-DECEMBER ( 7 - 1 2 MONTHS) 4,004 11 794 83 617 281 59 524 0 0 0 465 1,172 OVER 12 MONTHS 14,103 3 5,740 269 3,538 527 110 959 0 0 0 890 2,068 46,041 932 14,379 660 5,665 3,993 481 6,600 0 0 0 4,419 8,912 4.6 5.3 4 8 TOTAL AVERAI** MATURITIES CIN huNTHS) 5.7 1.1 6.5 7.0 9.3 3.6 5.4 3.8 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. TABLE 6 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF DECEMBER 3 1 , 1986 (PERCENTAGE DISTRIBUTION) ALL DISTRICTS BOSTON 1987 32.9 75.4 FEBRUARY 8.7 MARCH DALLAS SAN FRANCISCO .0 42.9 34.1 .0 .0 7.8 8.4 .0 .0 .0 4.7 5.8 3.8 .0 .0 .0 4.0 3.0 3.0 2.6 .0 .0 .0 4.5 5.3 3.2 3.1 8.9 .0 .0 .0 5.5 7.1 10.9 7.0 12.2 7.9 .0 .0 .0 10.5 13.2 40.8 62.5 13.2 22.8 14.5 .0 .0 .0 20.1 23.2 100.0 100.0 100.0 100.0 100.0 .0 .0 .0 100.0 100.0 ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS PHILADELPHIA CLEVELAND RICHMOND 27.8 22.3 15.2 34.4 23.7 45.8 .0 .0 7.4 9.3 13.9 2.5 16.9 8.2 8.8 .0 6.8 13.6 6.4 2.3 2.7 16.5 5.6 7.6 APRIL 3.2 1.3 2.2 1.0 1.6 6.5 21.4 MAY 3.3 .2 3.2 3.0 1.5 2.3 JUNE 5.8 .7 5.8 4.1 3.3 JULY-DECEMBER ( 7 - 1 2 MONTHS) 8.7 1.2 5.5 12.5 OVER 12 MONTHS 30.6 .3 39.9 100.0 100.0 100.0 CD'S MATURING I N JANUARY TOTAL NOTE, NEW YORK KANSAS CITY INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF * 1 0 0 , 0 0 0 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF $5 BILLION OR MORE AS OF DECEMBER 3 1 , 1982. III TABLE 7 SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF DECEMBER 31, 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 JANUARY 9,658 554 2,488 108 524 579 67 2,204 0 0 0 1,376 1,757 FEBRUARY 1,738 41 856 47 48 134 10 262 0 0 0 45 296 MARCH 1,359 48 556 5 61 249 16 195 0 0 0 42 187 APRIL 279 10 95 0 6 34 34 50 0 0 0 2 49 42 0 13 1 3 9 0 10 0 0 0 2 7 1,307 8 313 9 380 130 20 134 0 0 0 156 174 14,383 661 4,321 171 1,022 1,134 146 2,855 0 0 0 1,623 2,470 MAY AFTER MAY 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. M T E S TH,T " 6 T U R E I N THE R E M »"IN0 TABLE 8 SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF DECEMBER 31, 1986 (PERCENTAGE DISTRIBUTION) ALL DISTRICTS BOSTON JANUARY 67.1 83.8 FEBRUARY 12.1 MARCH APRIL CD'S MATURING IN 1987 MAY AFTER MAY TOTAL NOTE: DALLAS SAN FRANCISCO .0 84.8 71.1 .0 .0 2.8 12.0 .0 .0 .0 2.6 7.6 1.8 .0 .0 .0 .1 2.0 .1 .3 .0 .0 .0 .1 .3 11.5 13.3 4.7 .0 .0 .0 9.6 7.0 100.0 100.0 100.0 .0 .0 .0 100.0 100.0 ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS PHILADELPHIA CLEVELAND RICHMOND 57.6 63.6 51.3 51.0 46.0 77.2 .0 .0 6.2 19.8 27.6 4.7 11.8 6.7 9.2 .0 9.4 7.3 12.9 3.0 6.0 21.9 10.7 6.8 1.9 1.5 2.2 .0 .6 3.0 23.1 .3 .0 .3 .4 .3 .8 9.1 1.3 7.2 5.4 37.1 100.0 100.0 100.0 100.0 100.0 NEW YORK KANSAS CITY INCLUDES NEGOTIABLE CERTIFICATES OF DEPOSIT IN DENOMINATIONS OF * 1 0 0 , 0 0 0 OR MORE ISSUED BY BANKS WITH DOMESTIC ASSETS OF * 5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES I S UNDERSTATED. SALES OF CD"S BETWEEN SURVEY DATES THAT MATURE IN THE REMAINING DAYS OF THE CALENDAR MONTH OF THE CURRENT SURVEY ARE IGNORED.
@FedFRASER