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FEDERAL RESERVED lla ijstic o l release SOVEBNO^x /v ( l ib r a r y \ G.9 ~ ,*<$/ nszm^y ] / For immediate release October 27, 1970 MATURITY DISTRtBtfflON OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT The total of outstanding negotiable time certificates of deposit (CD^) in denominations of $100,000 or more at large commercial banks as of September 30 was $22.3 billion. This was $2.1 billion more than reported for the August survey. A year ago all reporting banks had $10.6 billion of large denomination certificates outstanding. The certificates maturing on the December 10 and December 15 tax and dividend dates totaled $501 million, compared with $329 million for the corresponding survey a year ago. The average maturity of total certificates outstanding was 2.9 months, compared with 3.0 months for the previous survey. For the comparable survey a year ago, the average maturity for outstanding certificates was 3.4 months. The distribution of maturities by bank size is shown on the back of this release. OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS, September 30, 1970 CDfs Maturing in 1970— October November December 1/ 1971— January February March April May June July August September October or later Total In millions of dollars Percentage distribution 8,196.8 4,529.9 3,245.1 894.5 720.1 1,085.8 1,140.0 400.9 474.1 398.2 306.8 490.6 411.7 36.8 20.3 14.6 4.0 3.2 4.9 5.1 1.8 2.1 1.8 1.4 2.2 1.8 22,294.5 100.0 Cumulative percentage 36.8 57.1 71.7 75.7 78.9 83.8 88.9 90.7 92.8 94.6 96.0 98.2 100.0 XXX JL/ Includes $170 million maturing on December 10 and $331 million matruing on December 15. MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS By Size of Bank 1/ (Amounts in millions of dollars, as of September 30, 1970) Period of maturity 1970 October November December December 10 December 15 1971 January February March April May June July August September October or later Total T o t a l D e p o s i t s o f b a n 1k 2/ Under $200 million to $500 million $1 billion $200 million $500 million to $1 billion and over Total 487.5 273.7 195.6 1,022.1 645.9 438.4 1,320.6 710.1 508.5 5,366.5 2,900.1 2,102.5 8,196.7 4,529.8 3,245.0 7.1 11.3 16.1 23.8 17.8 48.2 128.9 248.1 169.9 331.4 83.1 74.7 98.3 75.7 57.3 54.5 42.5 27.3 40.9 17.2 220.5 129.8 155.0 142.3 94.9 116.1 84.2 64.2 76.4 62.7 200.3 157.6 184.2 157.4 82.6 100.0 88.7 50.5 76.7 66.2 390.6 357.9 648.4 764.7 166.0 203.5 182.7 164.8 296.6 265.6 894.5 720.0 1,085.9 1,140.1 400.8 474.1 398.1 306.8 490.6 411.7 1,528.3 3,252.5 3,703.4 13,,809.9 22,294.1 Cumulative total 8,196.7 12,726.5 15,971.5 16,866.0 17,586.0 18,671.9 19,812.0 20,212.8 20,686.9 21,085.0 21,391.8 21,882.4 22,294.1 Average maturity 3.0 2.9 2.7 3.3 3.5 (in months) lumber of banks 255 37 82 48 88 reporting 1/ Includes certificates in denominations of $100,000 or more issued by weekly reporting banks. !/ Total deposits as reported in the Call Report of Condition on December 31, 1965. Details may not add to totals because of rounding.