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April 21, 1978 L.4.1 CONFIDENTIAL (FR) **"* % p ^ * SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE WEEKLY REPORTING BANKS as of March 29, 1978 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS AS OF 29 MAR CD'S MATURING IN 30 - 31 2,263.7 PERCENTAGE DISTRIBUTION 00 1976 MARCH AMOUNT (MILLIONS OF DOLLARS) 1976 CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2/ (MILLIONS OF D O L L A R S ) 2.8 .0 APRIL 24,083.5 29.3 32.1 10,286.3 MAY 14,049.6 17.1 49.2 4,234.2 JUNE 10,884.5 13.2 62.4 3,5*7.6 JULY 7,602.0 9.2 71.6 485.3 AUGUST 6,760.4 6.2 79.8 2,448.3 SEPTEMBER 6,036.0 7.3 87.1 4,875.1 OCTOBER 1,485.1 1.8 88.9 161.6 NOVEMBER 925.4 1.1 90.0 173.9 DECEMBER 1,443.4 1.8 91.8 465.9 699.6 .9 92.7 52.8 FEBRUARY 591.3 .7 93.4 238.0 MARCH 673.2 .8 94.2 832.1 3/ 4,749.6 5.8 100.0 XXX 82,247.4 100.0 XXX 27,801.1 1979 JANUARY EVER 12 MONTHS TOTAL (MEMORANDUM: JUNE 10 JUNE 15 APRIL 15 1.235.0 1.740.1 2,660.1 TAX AND DIVIDEND MATURITIES) 1.5 2.1 3.2 XXX XXX XXX 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE ISSUED BY WEEKLY REPGKTING B A N K S . 2/ StE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER 11 MONTHS. 809.0 TAbLt 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 D E P O S I T AT NEW YORK CITY, 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 29 M A R 1978 (IN M I L L I O N S OF D O L L A R S ) NEW YORK CITY ALL OTHER W E E K L Y R E P O R T I N G B A N K S CHICAGO C D ' S M A T U R I N G IN AMOUNT 1976 MAR 30 - MAR 31 611.0 .0 146 .6 .0 1,506.c .0 APRIL 5,692.9 1,585.9 2,946.1 1 ,115.0 15,244.6 7,585.5 MAY 4,411.6 620.0 1,764.3 963.4 7,873.5 2,550.8 JUNE 3,454.1 1,003.7 963.0 287.8 6,467.4 2,236.2 JULY 2,763.8 69.0 7o8 .6 62.5 4,049.5 333.6 AUGUST 2,472.4 628.9 891.6 483.7 3,396.2 1,135.8 SEPTEMBER 2,469.7 2,224.7 6ol.7 453.0 2,904.6 2,197.4 OCTOBER 279.2 22.7 357.6 16.2 846.3 142.7 N O V E M b ER 136.5 15.2 47.7 9.3 741.2 149.4 DECEMBER 392.3 93.0 163.9 39.1 687.3 333.9 130.5 2.3 36.6 5.4 532.4 45.0 170.2 113.0 29.6 4.4 391.6 120.7 551.8 7 0 3 . 1 /3 1979 J A N U A R Y FEBRUARY MARCH OVER SALES SINCE P R E V I O U S M O N T H 2/ 66.9 12 M O N T H S TOTAL * 60.2 /3 52.6 S A L E S SINCE P R E V I O U S MONTH 2/ 69.0 /3 AMOUNT SALES S I N C E PREVIOUS MONTH 2/ 1,463.2 XXX 878.4 XXX 2,388.3 XXX 24,736.5 6,838 .6 9,728.5 3 ,428.9 47,782.9 17,534.1 N U M B E R OF R t PORT1NG BANKS 10 11 (MEMORANDUM: JUNE iO JUNE 15 APRIL 15 1/ INCLUDtS AMOUNT 264.1 357.3 713.6 ONLY C E R T I F I C A T E S TAX AND D I V I D E N D M A T U R I T I E S ) 182.1 IN D E N O M I N A T I O N OF $ 1 0 0 , 0 0 0 OR MORt 2/ SEE TECHNICAL APPtNDIX A. 3/ SALES OF CD'S M A T U R I N G AFTER 11 M O N T H S . Digitized * Tfor O T AFRASER L S M A Y NOT ADD DUE TO R O U N D I N G . 214 65.3 165.7 345.2 117.1 ISSUED BY WEEKLY R E P O R T I N G B A N K S . 905.6 1,197.1 1,601.3 509.7 TABLE 2B 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 29 MAR 1976 AND 22 FEB 1976 (PERCENTAGE DISTRIBUTION) MAIUKIINI* in 29 MAR ALL OTHER CHICAGO NEW YORK CITY • 22 FEB 29 MAR 22 FEB 29 MAR 22 FEB 2.5 5.0 1.5 4.5 3.2 6.5 01 MONTHS 3/ 23.8 24.0 30.3 25.0 31.9 28.1 02 M O N T H S 17.6 17.7 18.1 21.0 16.5 17.4 03 MONTHS 14.0 14.7 9.9 10.3 13.5 12.1 04 MONTHS 11.2 10.1 8.1 7.7 8.5 9.6 05 MONTHS 10.0 11.1 9.2 8.1 7.1 8.4 06 MONTHS 10.0 6.7 6.8 4.7 6.1 5.1 u7 MONTHS 1.1 1.0 3.7 2.4 1.6 1.6 08 M O N T H S .6 1.1 .5 3.9 l.o 1.6 09 MONTHS 1.6 .5 1.7 .4 1.9 1.3 10 MONTHS .5 1.2 .4 1.4 1.1 1.3 11 MONTHS .7 .5 .3 .4 .8 1.1 12 MONTHS .3 .2 .5 .3 1.2 .6 6.0 6.1 9.0 9.9 5.0 5.1 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2/ OVER 12 MONTHS TOTAL * 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 UR MORE ISSUED BY WEEKLY REPORTING BANKS. 2 / NUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. * TOTALS M A Y NOT ADD DUE TO ROUNDING. TABLE 2C 1/ MATURITY DISTRIBUTION OF O U T S T A N D I N G NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 29 MAR 1976 AND 22 FEB 1976 (CUMULATIVE DISTRIBUTION) 29 MAR 22 Ffcb ALL OTHER CHICAGO NEW YORK CITY MATUK lIMb IN 29 MAR 22 FEB 29 MAR 22 FEB 2.5 5.0 1.5 4.5 3.2 6.5 01 MONTHS 3/ 26.3 29.0 31.6 29.5 35.1 34.6 02 MONTHS 44.1 46.7 49.9 50.5 51.o 52.0 03 MONTHS 56.1 61.4 59.6 60.8 65. 1 64.1 04 MONTHS 69.3 71.5 67.9 66.5 73.6 73.7 05 MONTHS 79.3 62.6 77.1 76.6 60.7 6^. 1 06 MONTHS 69.3 89.3 63.9 81.3 6b.6 67.2 07 MONTHS 90.4 90.3 67.6 63.7 88.6 68.8 06 MONTHS 91.0 91.4 66.1 87.6 90.2 90.4 09 MONTHS 92.6 91.9 89.6 88.0 92.1 91.7 10 MONTHS 93.1 93.1 90.2 69.4 93.2 93.0 11 MONTHS 93.b 93.6 90.5 89.6 94.0 94.1 12 MONTHS 94.1 93.6 91.0 90.1 95.2 94.7 100.0 100.0 100.0 100.0 100.0 100.0 6 DAYS 2/ :k 12 MONTHS 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ NUMBER OF L.AYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE M O N T H . 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY M O N T H . MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 29 MAR 1978 (AMOUNTS IN MILLIONS OF DOLLARS) TABLE 3A $5 BILLION AND OVER $1 BILLION TO $5 BILLION $500 MILLION AND UNDER $500 MILLION TO $1 BILLICN 2,263.7 170.2 362.6 908.1 APRIL 24,083.6 1,216.9 2,517.7 7,543.0 MAY 14,049.6 728.2 1,482.4 4,178.9 JUNE 10,884.4 574.1 1,055.7 JULY 7,602.0 318.5 AUGUST 6,760.3 SEPTEMBER OC10BER C D ' S MATURING IN TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 822.8 513.9 308.9 12,806.0 5,042.6 7,763.4 7,660 * 1 4,066,0 3,594.1 3,276.5 5,978.1 3,191.3 2,766.6 588.3 1,844.0 4,851.2 2,649.1 2,202.1 IB'/ .6 586.9 1,639.5 4,344.3 2,241.4 2,102.9 6,036.0 21 V .4 424.3 1,505.3 3,689.0 2,296.4 1,590.6 1,485.0 73.6 156.1 446.8 806.3 261.9 544.4 NOVEMbtR 925.4 61.4 173.0 406.8 264.2 125.0 159.2 DECEMBER 1,443.5 67.3 171.2 466 . 3 738,7 375.6 363.1 699.6 56.7 116.8 257.1 269.0 12 3.2 145.8 FEBRUARY 591.3 40.6 100.3 197.1 253.3 166.2 87.1 MARCH 673.2 30,4 60.6 379.6 182.4 61.4 121.0 126.8 156.8 843.3 3,623.0 1,466.0 2,155.0 3,B71.9 7,974.7 <3,692.5 46,506.4 22,564.0 23,924.4 1978 MAR 30-31 1979 JANUARY APRIL OR LATER TOTAL * 4,749.9 62,247.5 -R— (MEMORANDUM: TOTAL TAX AND DIVIDEND M A T U R I T I E S ! — — — JUNE 10 1.235.0 32.9 77.6 339.0 765.5 247.3 538.2 JUNE 15 1,740.2 64.0 76.5 477.6 1,121.9 299.5 622.4 APRIL 15 2.660.1 129.0 215.4 767.7 1,548.0 666.1 879.9 (MEMORANDUM: 235 71 NUMBER OF BANKS> 64 83 17 1/ INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF *100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G BANKS. 2 / TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. * TOTALS MAY NOT ADD DUE TO ROUNDING. 10 ^ ALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 29 MAR 1978 (AMOUNTS IN MILLIONS OF DOLLARS) TABLE 3d $5 BILLION AND OVER $500 MILLION TO $1 BILLION 10,286.4 594.4 1,232.2 3,438.9 MAY 4,234.3 251.4 494.0 JUNE 3,527.5 257.6 JULY 485.3 AUGUST SEPTEMBER NEW YORK CITY OUTSIDE NEW YORK CITY 5,020.9 1,070.2 3,950.7 1,388.9 2,100.0 666.6 1,413.2 468.0 1,209.1 1,592.8 914.4 678.4 59.6 89.6 211.9 124.0 52.7 71.3 2,446.3 33.< 156.6 574.0 1,664.5 740.5 944.0 4,875.1 131.4 242.1 1,107.0 3,394.6 2,126.1 1,266•5 OCTOBER 181.5 6.2 44.2 68.4 62.7 18.7 44.0 NOVEMBER 173.9 9.9 42.4 81.0 40.6 15.2 25.4 DECEMBER 465.9 6.6 42.8 171.7 242.8 87.7 155.1 52.9 1.1 7.0 26.6 lb.2 0.3 17.9 FEBRUARY 238.0 12.9 J4.2 53.1 137.8 109.6 26.0 MARCH OR LATER b 32.1 47.5 97.1 472.1 215.4 52.0 163.4 27,60*.2 1,414.0 2,950.2 8,802.7 14,634.3 5,87o.4 8,757.9 140.6 161.4 1978 MAk 1979 JANUARY TOTAL * — APRIL 63.1 609.0 15 (MEMORANDUMS — TAX AND DIVIDEND MATURITIES) 107.5 (MEMORANDUM: 71 235 336.4 302.0 NUMBER OF BANKS) 64 83 10 17 SEE TECHNICAL APPENDIX A . ^ ^ r INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. TOTALS MAY NOT ADD DUE TO ROUNDING. # TOTAL 30-31 APRIL 1/ 2/ 3/ » $1 BILLION TO $5 BILLION $500 MILLION AND UNDER TOTAL CD'S MATURING IN # # # * # # # * # TABLE 3C MATURITY D 1 S T R I B U T I O N OF O U T S T A N D I N G NEGUTLABLT TIME C E R T I F I C A T E S OF DEPOSIT AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 / AS OF 29 MAR 1978 PERCENTAGE D I S T R I B U T I O N 1/ *5 B I L L I O N AND OVER C D ' S MATURING IN 1976 MAR 30-31 $600 MILLION AND UNOFCR $500 MILLION TO S I BILLION $1 BILLION TO »5 B I L L I O N TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 2.8 4.4 4.5 3.8 1.8 2.3 1.3 APRIL 29.3 31.4 31.6 31.6 27.& 22.3 32.4 MAY 17.1 16.8 18.6 17.5 16.5 16.0 15.0 JUNE 13.2 14.8 13.2 13.7 12.9 14.1 11.6 JULY 9.2 8.2 7.4 7.7 10.4 11.7 9.2 AUGUST 8.2 4.9 7.4 6.9 9.3 9.9 8.8 SEPTEMBER 7.3 5.6 5.3 6.3 6.4 10.2 6.6 OCTOBER 1.6 1.9 2.0 1.9 1.7 1.2 2.3 NOVEMBER 1.1 1.6 2.2 1.7 0.6 0.6 0.7 DECEMBER 1.6 1.7 2.1 2.0 1.6 1.7 1.5 0.9 1.5 1.5 1.1 0.6 0.5 0.6 FEBRUARY 0.7 L.C 1.3 0.6 0.5 0.7 0.4 MARCH 0.8 0.8 1.0 1.6 0.4 0.3 0.5 APRIL OR LATER 5.8 3.3 2.0 3.5 7.8 6.5 9.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1979 JANUARY TOTAL * —— TOTAL — — — — — — — — — — — — — ———;• I I — I ~- ——— (MEMORANDUM! TAX AND D I V I D E N D M A T U R I T I E S ) JUNE 10 1.5 0.8 1.0 1.4 1.7 1.1 2.2 JUNE 15 2.1 1.7 1.0 2.0 2.4 1.3 3.4 APRIL 3.2 3.3 2.7 3.2 3.3 3.0 3.7 15 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 O F * 1 0 0 , 0 0 0 OR MORE ISSUED BY W E E K L Y R E P O R T I N G B A N K S . 2 / TOTAL ASSETS A S R E P O R T E D IN THE CALL REPORT UF CONDITION O N JUNE 3 0 , 1 9 7 5 . * TOTALS MAY N O T A D O DUE TO R O U N D I N G . MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 29 MAR 197 6 CUMULATIVE PERCENTAGE TABLE 3D 1/ $5 BILLION AND OVER CD'S MATURING IN TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 BILLION $1 BILLION TO $5 BILLION TOTAL NEW YORK CITY 1978 MAR 30-31 2.8 4.4 4.5 3.8 1.8 OUTSIDE NEW YORK CITY 2.3 1.3 APRIL 32.1 35.8 36.1 35.4 29.3 24.6 33.7 MAY 49.2 54.6 54.7 52.9 45.8 42.O 4TI.7 JUNE 62.4 69.4 67.9 66.6 58.7 56.7 60.3 JULY 71.6 77.6 75.3 74.3 69.1 68.4 69.5 AUGUST 79.D 62.5 62.7 81.2 78.4 78.3 78.3 SEPTEMBER 67.1 68.1 86.0 67.5 66.6 66.5 64.9 OCTOBER 68.9 90.0 90.0 69.4 86.5 69.7 67.2 NOVEMBER 90.0 91.6 92.2 91.1 69.1 90.3 67.9 DECEMBER 91.6 93.3 94.3 93.1 90.7 92.0 69.4 92.7 94.6 95.6 94.2 91.3 92.5 90.0 FEBRUARY 93.4 95.8 97.1 95.0 91.6 93.6 90.4 MARCH 94.2 96.6 96.1 96. 6 92.2 93.5 90.9 100.0 100.0 1U0.0 100.0 100.0 100.0 100.0 1979 JANUARY APRIL OR LATER 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $*00,000 OR MURE ISSUED BY WEEKLY REPORTING BANKS. 2 / TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION UN JUNE 30, 1975. * TOTALS MAY NOT ADD DUE TO ROUNDING. SALES /!/ OF NEGOTIABLE TIME CERT1FICATES OF DEPOSIT SINCE P R E V I O U S MONTH t/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3 / AS OF 29 MAR 197 8 PERCENTAGE DISTRIBUTION TABLE 3c $5 BILLION AND OVER CD'S MATURING IN 1976 MAR TQTAL $509 MILLION AND UNDER *500 MILLION TO *1 BILLION $1 BILLION TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 30-31 APRIL 37.0 42.0 41.6 39.1 34.3 18.2 45.1 MAY 15*2 17.fr 16.7 15.6 14.3 11.7 16.1 JUNE 12.7 16.2 15.9 13.7 10.9 15.6 7.7 JULY 1.7 4.2 3.0 2.4 0.9 0.8 AUGUST p.8 2.3 5.3 6.5 11.5 12.6 10.8 17.5 9.3 8.2 12.6 23.2 36.2 14.5 OCTOBER 0.7 0.4 1.5 0.8 0.4 0.3 0.5 NOVEMBER O.o 0.7 1.4 0.9 0.3 0.3 0.3 DECEMBER 1.7 0.6 1.5 2.0 1.7 1.5 1.8 0.2 0.1 0.2 0.3 0.1 0.0 0.2 FEBRUARY 0.9 0.9 1.2 0.6 0.9 1.9 0.3 MARCH OR LATER 3.0 3.4 3.3 5.4 1.5 0.9 1.9 IO9.O ;oo.o 100.0 100.0 100.0 SEPTEMBER 1979 JANUARY TOTAL * — '"'I MEMORANDUMS APRIL 15 2.9 4.5 235 71 3.8 (MEMORANDUM: 2.1 NUMBER OF BANKS) 100.0 2.4 1.8 64 83 — 17 2 / INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR M O R E ISSUED BY WEEKLY REPORTING B A N K S . 3 / TOTAL ASSETS AS REPORTED IN THfc CALL REPORT OF COIDIT1QN ON JUNE 30# 1975. * TOTALS MAY NOT ADD QUE TO R O U N D I N G . 100.0 TAX AND DIVIDEND MATURITIES) 3.6 — - 0.8 10 TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES UN MONTHS > DATE OF SURVEY BANK CLASSIFICATION 2V MAR 1976 22 FEB 1978 — 26 JAN 1976 (oY LOCATION) ALL REPORTING BANKS ISSUING CD'S 3.2 3-3 3.3 3.3 3.3 3.4 CHICAGO 3.5 3.7 3.b OTHER 3.1 3.2 3.2 NEW YORK CITY (BY SIZE OF oANK) 2/ UNDER *600 MILLION 2.6 2.9 2.9 $500-$1,000 MILLION 2.8 2.9 2.9 *1,000-S5.000 MILLION 3.0 2.9 3.0 OVER 3.4 3.6 3.6 IN NEW YORK CITY 3.4 3.4 3.5 OUTSIDE NEW YORK CITY 3.4 3.8 3.6 $5 BILLION 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL ASSETS http://fraser.stlouisfed.org/ Federal#Reserve Bank of St.# Louis AS REPORTED IN THE CALL REPORT LF CONDITION ON JUNE 30, 1 9 7 5 . # # # # # # # # + # # # # # # # # # TABLb 4B AVERAGE MATURITY OF NEGOTIABLE TIME CtRTIFICATES OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING TME MONTH OF VARIOUS SURVEYS (IN M O N T H S ) DATE OF SURVEY BANK CLASSIFICATION 29 MAR 1978 22 FEB 1978 2 5 JAN 1978 (BY L O C A T I O N ) ALL REPORTING BANKS ISSUING CD'S 2.9 2.8 2.B NEW YORK CITY 3.5 3.5 3.0 CHICAGO 2.7 2.6 2.4 OTHER 2.7 2.6 2,8 (BY SIZE OF B A N K ) 2/ UNDER *500 MILLION 2.4 2.3 2.7 $500-*1,000 MILLION 2.6 2.6 <.5 $l,CC0-*5,00u MILLION 2.9 2.5 2.5 UVEk $5 BILLION 3.0 3.3 3.1 IN NEW YORK CITY 3.8 3.7 3.3 OUTSIDE NEW YORK CITY 2.5 2.9 2.9 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF *100.000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 3 0 . 1975. N O T E — S E E TECHNICAL APPENDIX B . — # * TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY (IN MILLIONS OF D O L L A R S ) .LL <9 MAR 1978 I W W 22 FEB 1978 25 JAN 1978 —r 2()-3 UNDER 500 15.6 15.5 15.3 SOU - IGOO 17. i 16.3 15.6 1000 - BOOO 16.7 15.7 15.7 24.4 22.4 23.0 IN NEW YORK CITY <6.8 26.4 2e>.l OUTSIDE NEW YORK CITY 22.5 19*9 'O.* OVER 6000 1/ INCLUDES CtRTIElCATES IN DENOMINATIONS UE SlQOfOOO UR MORE ISSUED bY WEEKLY REPORTING B A N K S . t/ TOTAL NOTE- http://fraser.stlouisfed.org/ FederaleReserve Bank of St.#Louis ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE DENOMINATOR UE THE K A T 1 0 IN THIS TABLE ARE TOTAL DEMAND AND TIMfc DEPOSITS, INCLUDING INTERBANK A N D U . S . GOVERNMENT DEPOSITS. # e # # # e # e TABLE 5B RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 29 MAR 1978 (NUMBER OF BANKS) TOTAL ASSETS 2/ UN MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S 5% OR LESS 5 TO 10% 20 15 TO 10 TO 15* 20% AVERAGE CO TO DEPOSIT RATIO (PER CENT) 25* OR MORE TO 25* 32 29 52 41 32 49 20.3 9 11 19 11 11 10 15.8 500 •- 100U 11 9 12 9 9 14 17.2 10G0 - 5000 12 9 18 17 10 17 16.7 0 0 3 4 2 6 24.4 IN NEW YORK CITY 0 0 1 1 1 4 26.8 OUTSIDE NEW YORK CITY 0 0 2 3 1 4 22.5 UNDER 500 OVER 5000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TUTAL NOTE- ASSETS As REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK A N D U.S. GOVERNMENT DEPOSITS. TABLFC 5C PFCR CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 22 FEB 1978 TO 2V MAR 1976 (NUMBER OF BANKS) TOTAL ASSETS 2/ (IN MILLIONS OF DOLLARS) DECLINES OF REDUCED CD'S TO 5 TO 104 OR 5% OR ZERO MORE 10* LESS INCREASES OF NO CHANGE 5% OR LESS > TO 10% L qt OR MORE ISSUED CD'S BUT HAD NONE OUTSTANO 1NG ON BASE DATE ALL BANKS ISSUING CD'S 1 16 13 47 4 57 46 50 0 UNDER 500 1 5 5 21 2 13 14 11 0 500 - 1000 0 5 2 12 0 17 14 14 0 11 2 22 14 21 0 1000 - 5000 0 8 5 OVER 5000 0 0 1 3 0 5 4 4 0 IN NEW YORK CITY 0 0 1 1 0 3 0 2 0 OUTSIDE NEW YORK CITY 0 0 0 2 0 2 4 2 O 1/ INCLUDES CERTIFICATES IN DENOMINATIONS LF $100,000 OR MURE ISSUED BY WEEKLY REPORTING BANKS. k/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION UN JUNE 30 , 1975. THE NUMBER OF BANKS IN THIS IAALE DIFFERS FROM THOST IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING, CD'S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO UN THIS SURVEY. TABLE 50 PER CENT CHANG6 IN QUI STANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 26 DEC 1977 TO 29 MAR 1978 (NUMBEP. OF BANKS) TOTAL DEPOSITS /2 I IN MILLIONS OF DOLLARS) REDUCES TO ZERO DECLINES OF 25% OR MORE 20 TO 25% 15 TO 20% 10 TO 15% INCREASE OF TO 10* 5* UR LESS 5? NO CHANGE OR LESS TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE ISSUED CD'S BUT H A D NONE OUTSTANDING UN BASE DATE ALL BANKS ISSUING CD'S I 5 4 5 9 13 19 3 29 29 25 26 IV 49 0 UNDER 500 1 2 2 1 2 4 7 2 4 10 7 10 0 14 0 5Q0 «- 1000 0 0 0 I Z 3 5 0 11 8 7 5 4 17 0 1000 - 5000 u 3 1 2 5 3 6 1 12 9 10 6 6 17 0 OVER 0 0 1 0 0 3 1 0 2 2 1 3 3 1 0 IN NcW YORK CITY 0 0 1 0 0 0 1 0 1 1 1 0 1 1 0 OUTSIDE N£W YORK CITY 0 0 0 0 0 3 0 0 1 1 0 3 2 0 0 5V0Q 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL NOTE- ASSETS AS REPORT6D IN THE CALL REPORT OF CONDITION ON JUNE 3 0 , 1975. THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CO•S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. TABLE 5fc CHANGE IN OUTSTANDING NEGOTlAt>Lfc TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 22 FEB 1976 TO 29 MAR 1978 (NUMBER OF bANKS) TOTAL ASSETS 2/ (IN MILLIONS OF DOLLARS 1 ALL BANKS CD'S ISSUING INCREASES OF DECLINES OF XX AND LESS 1 TO Z% 2 TQ 3% 3? AND OVER NO CHANGE IX AND LESS 1 TO Z% 3% AND OVER 2 TO 3% 1 7 11 62 4 73 39 22 16 UNDER 500 1 1 5 25 2 20 12 5 0 SCO - 1000 0 3 2 15 O 19 15 7 3 1000 T 5000 0 3 3 19 2 29 9 9 9 OVER 5000 0 5 3 1 4 v 2 1 2 IN NEW YORK CITY 0 UUTSICE NEW YORK CITY 0 0 1 0 0 3 0 1 1 0 2 0 2 0 3 1 2 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE OeNOMINATOR OF THE RATIU IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK A N D U . S . GOVERNMENT DEPOSITS. # # # # # # # # # TABLE 5F CHANGE 1^ OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THc BEGINNING OF THE PERIOD c8 DEC 1977 TO 29 MAR 1978 (NUMBER OF BANKS) — — 1* AND UNDER 3 TO 4% 2 TO 3% 1 TO 2% 5% AND OVER I NO CHANGE i j 1% AND LESS 1 TO 2% i 3 TO 4% S&+'\ 5% AND OVER i I (IN MILLIONS OF D O L L A R S ) INCREASED OF 1 1 1 i ASSETS 2/ i TOTAL — — D t C H N c S OF W -* f te o ^ ! i 1 1 1 1 ALL BANKS ISSUING CD'S 3 l 5 9 8 28 3 47 49 27 24 9 22 UNDER 300 1 0 1 3 3 10 2 11 17 10 7 1 5 5Q0 - 1000 Q Q 0 1 2 8 0 14 15 d 5 2 9 1000 - 5000 2 o 3 4 L 9 1 21 1c 7 10 6 6 OYER 5000 0 1 1 1 1 1 0 1 5 2 4 0 2 IN NEW YORK CITY 0 I 0 0 0 1 0 1 1 1 1 0 1 OUTSIDE NEW YORK CITY 0 0 1 1 1 0 0 0 4 1 1 0 1 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF >100.000 OR M O R E ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 3 0 , 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME D E P O S I T S , INCLUDING INTERBANK A N D U . S . GOVERNMENT DEPOSITS. TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABL E TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT 1/ AS OF 29 MAR 1978 (AMOUNTS IN MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 295.9 33.2 26.0 75.0 250.2 316.4 766.5 3950.5 279,1 188.7 760.4 1782.0 9521.4 515.3 591.1 2298.2 194.6 180.5 404.1 1005.6 2210.6 563.7 332.2 430.9 1615.1 197.6 136.1 272.3 788.4 2081.6 235. 1 442.7 204.2 275.2 963.2 81.8 47.2 141.5 545.5 1547.1 2554.1 243.4 322.1 138.7 282.5 1063.0 66,5 60.7 117,6 428.9 1273.8 iji.a 2550.3 136.5 354.4 123.5 197.8 841.6 57,9 91.0 103.1 518.9 929.7 1465.1 44.6 325.3 74.1 61.6 47.2 81.5 413.7 30.4 14.7 49.4 147.6 174.8 NOV 925.3 54.f 152,9 65.9 81.9 52.4 63.5 113.2 16.4 7.8 52.5 117.0 147.6 DEC 1443.5 62.5 447.4 45.8 53.0 46.4 73.7 220.1 17.5 3LS.5 40,0 148,0 273.0 1979 JAN 699.7 23.2 >63.6 45.4 40.3 29.5 47.5 68,1 15.6 7,4 38.8 87.5 132.6 FEB 591.5 13.9 182.2 23.7 31.6 26.7 45.8 57.6 16.7 4.5 *9.6 48.9 120.3 MAk 67a.3 11.3 *3.8 21.7 30.4 33.5 25.2 102.8 8.6 93.6 21.7 125.2 115.5 4749.9 255.5 1507.5 91.7 331.3 28.1 I0tt.4 965.0 35.9 31.0 65.3 2*3.3 104b.9 3027.4 27036.5 3064.3 4368.8 2417.7 3075.3 12968,0 1052.2 906.7 2162.1 3.4 2.7 3.3 3.0 3.9 15 19 35 11 ALL DISTRICTS BOSTON 2263.7 91.1 APR 24063.6 MAY CD'S MATURING IN CLEVELAND 741.8 104.7 136.5 107.2 b 5.7 962.4 6813.3 1060.2 1266.3 732.8 14049.6 565.6 4857.8 592.8 633.0 JUN 10bo4.4 360.7 3772,5 323.3 JUL 7 £>01.8 234.3 2684,u AUG 6760.3 208.8 SEP 6036.0 UCT 1976 MAk 30-MAk 31 APk Ok LAT£k TOTAL * *2247.7 AVERAGE MATURITY IN MONTHS 2/ 3.2 3.2 3.2 2.7 — NUMBER UF REPORTING BANKS 235 13 CHICAGO RICHMOND ATLANTA PHILADELPHIA NEW YORK 6 2 7 7 . 4 15891.3 2.6 3.3 3.1 17 23 29 - 1 10 36 22 1/ INCLUDES UNLY C.6R1 1F1CATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING B A N K S . i.f SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO R O U N D I N G . http://fraser.stlouisfed.org/ Federal Reserve Bank of St.eLouis • • + # t • # # # # # # # # # # # # TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 MAR 1976 (AMOUNTS IN MILLIONS OF D O L L A R S ) ALL DISTRICTS BOSTON APR 10286.2 426.5 MAY 4234.3 JuN DALLAS SAN FRANCISCO 89.0 392.1 739.8 3383.7 65.1 58.0 160.9 291.5 682.9 515.1 85.5 12.4 140.1 360.3 613.4 32.5 122.8 13.7 1.0 39.7 52.7 33.0 53.4 56.7 542.8 20.9 28.8 39.8 122.2 517.8 294.9 69.2 127.7 587.1 40.8 75.0 67.5 362.2 775.8 24.4 7.8 12.9 3.0 27.8 7.0 0.3 18.2 16.0 22.7 19.2 21.5 4.2 7.0 3.1 28.8 1.8 1.5 9.6 36.5 26.8 16.9 108.3 17.4 16.4 11.6 17.8 50.1 7.8 b.4 13.5 42.1 155.7 52.8 1.7 16.0 11.8 3.0 0.5 4. 6 6.1 0.7 0.1 4.8 0.5 3.0 FEb 237.9 7.3 116.5 1.4 12.2 3.0 10.6 8.9 1.5 1.8 4.5 11.3 58.9 MAR OR LATER 632.1 73.0 60.7 15.9 29.1 35.7 24.2 1$5.6 10.7 88.7 27.5 154.9 155.9 27601.0 1005.2 76^5.0 ;073.6 1160.5 778.7 947.6 4636.7 393.9 3o5.0 915.2 2190.0 6429.6 2.9 2.4 3.3 2.4 3.1 2.7 2.7 2.7 2.6 5.0 2.4 3.2 2.4 ST. LOUIS 289.9 1560.2 136.4 159.6 205.0 1049.2 106.8 129.5 172.5 17.b 29.9 20.4 86). 3 63.7 92.6 114.7 2270.4 89.8 181.5 9.7 31.7 NOV 173.9 ^3.9 DfcC 466.0 1979 JAN 2110.3 441.1 439.3 275.9 213.2 973.b 252.8 122.3 3527,4 115.2 1156.8 116.0 JUL 4b5.3 23.8 99.0 AUG 2 448.3 49.3 SEP 4*75.1 OCT TOTAL * AVERAGE MATURITY IN MONTHS 3/ 1/ SEt TECHNICAL APPENDIX A . 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX B . » DETAILS MAY NOT ADO TO TOTALS UUE TO ROUNDING. 1 </> 1 CHICAGO CLEVELAND i 52 !?I RICHMOND ATLANTA PHILADELPHIA NEW YORK I FT IT KANSAS CITY CD'S MATURING IN TABLfc 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 MAR 1976 (PERCENTAGE DISTRIBUTION! KANSAS CITY DALLAS SAN FRANCISCO 2.9 3.5 4.0 2.0 26.5 20.8 35.2 26.4 34.7 17.7 16.5 19.9 18.7 16.0 13.9 14,0 12.5 16.6 15.2 12.6 12.6 13.1 8.4 8.9 7.4 7.8 5.2 6.5 8.7 9.7 7.4 5.7 9.2 8.2 6.3 6.7 5.4 6.8 8.0 4.5 6.1 5.1 6.4 6.5 5.5 10.0 4.8 8.3 5.9 1.2 2.4 1.9 2.0 2.7 3.2 2.9 1.6 2.3 2.4 1.1 1.6 0.6 2.2 1.9 2.2 2.1 0.9 1.6 0.9 2.4 1.9 0.9 1.6 2.1 1.7 1.5 1.2 1.9 2.4 1.7 1.7 1.7 1.9 2.4 1.7 1979 JAN 0.9 0.6 0.6 1.5 0.9 1.2 1.5 0.5 1.5 0.6 1.8 1.4 0.8 FEB 0.7 0.5 0.7 0.6 0.7 1.1 1.5 0.4 1.6 0.5 0.9 0.6 0.8 MAK 0.8 0.4 0.3 0.7 0.7 1.4 0.8 0.8 0.8 10.3 1.0 2.0 0.7 APR OR LATER 5.8 8.4 5.6 3.0 7.6 1.2 3.5 7.4 3.4 3.4 3.0 4.5 6.6 100.0 100.0 100.0 100.0 100.0 BOSTON 2.6 3.0 APR 29.3 MAY CHICAGO ST. LOUIS PHILADELPHIA CLEVELAND 2.7 3.4 3.1 4.4 2.8 2.3 3.2 31.6 25.2 34.6 29.0 30.3 24.9 30.5 17.1 16.7 16.0 19.3 14.5 21.3 19.2 JUN 13.2 12.2 14.0 10.6 12.9 13.7 JUL 9.2 7.7 10.7 7.7 10.1 AUG 8,2 6.9 9.4 7.9 SfcP 7.3 4.3 9.4 OCT l.p 1.5 NOV 1.1 DEC RICHATLANTA MOND 1 NEW YORK 2# »- rr </> 1 ALL UISTR1CTS CD'S MATURING JN 1976 MAR 30-MAR 31 100.0 TOTAL * 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE 6Y WEEKLY REPORTING BANKS. http://fraser.stlouisfed.org/ Federal EReserve Bank of St.«Louis # • • • • • E E # # # # # # # # # TABLE 60 M A T U R I T Y DISTRIBUTION pF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 MAR 1/ 197 8 (CUMULATIVE PERCENTAGE) MATURING > ALL DISTR1CTS IN | II • ! Ill II 1 MAK 30- MAR 31 - BOSTON — — 2.6 APR NEW YORK •• I 7 1 — PHILADELPHIA CLEVELAND •1 ~ — — — — ST. LOUIS CHICAGO RICHMOND ATLANTA — — — — MINNEAPOLIS KANSAS CITY — — - — » — — — — • — DALLAS — — — SAN FRANCISCO ______ 3.0 2.7 3.4 3.1 4.4 2.8 2.3 3 .2 2.9 3.5 4.0 2.0 34.6 27.9 36.0 32.1 34.7 27.7 32.6 29.7 23.7 38.7 32.4 36.7 MAY 49.2 53.5 4 5.9 57.3 46.6 56.0 46.9 50.5 46.2 43.6 57.4 46.4 50.6 JUN 62.4 65.7 59.9 67.9 59.5 69.7 60.9 63.0 67.0 58.8 70.0 61.0 63.7 JUL 71.6 73.4 7 0.6 75.6 69.6 76.1 69.6 70.4 74.6 64.0 76.5 69.7 73.4 AUG 79.6 TI0.3 60. 0 83.5 77.0 83.8 79.0 78.6 81.1 70.7 81.9 76.5 61.4 SEP 67.1 64.6 69.1 86.0 65.1 66.9 85.4 65.1 66.6 60.7 56.7 64.8 67.3 DC 7 68.9 86,1 90.6 90.4 67.0 90.9 68.1 60.3 89.5 62.3 69.0 67.2 68.4 NOV 90.0 67.9 91.2 92.6 88 *9 93.1 90.2 69.2 91.1 83.2 91.4 89.1 89.3 UEC 91.8 90.0 92.9 94.1 90.1 95.0 92.6 90.9 92.6 64.9 93.3 91.5 91.0 VAN 92.7 90.6 93.5 95.6 91.0 96.2 94.1 91.4 94.3 85.7 95.1 92.9 91.8 FEB 93.4 91.3 94.2 9F>.4 91.7 97.3 95.6 91.6 95.9 66.2 96.0 93.7 92.6 MAR 94.2 91.7 94.5 97.1 92.4 96.7 96.4 92.6 96.7 96.5 97.0 95.7 93.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 APR OR LATER 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF *100,000 OR MORE BY WEEKLY REPORTING B A N K S . TABLE 66 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 MAR 1976 (PERCENTAGE DISTRIBUTION) ALL OISTRICTS BOSTON APR 37.Q 40.0 MAY 15.4 JUN CD'S MATURING IN NEW YORK ST. LOUIS M1NNEAPOL1S KANSAS CITY DALLAS SAN FRANCISCO 33.6 35.1 24.4 42.8 33.8 52.6 21.6 22.6 16.5 15.9 17.6 13.3 10.6 16.6 16.2 11.1 21.7 3.4 15.3 16.5 9.5 2.6 2.6 3.4 2.6 3.5 0.3 4.2 2.4 0.5 5.9 6.0 6.9 6.0 11.7 5.3 7.9 4.3 5.6 8.1 PHILAOELPH1A CLEVfcLAND RICHMONO ATLANTA 26.9 41.1 37.9 35.4 30.6 20.0 12.4 23.5 10.5 20.5 12.7 10.6 14.8 10.6 9.4 JUL 1.7 2.2 1.3 1.7 AUG ti.8 4.6 11.0 CH1CAGO SEP 17.5 10.6 28.9 6.4 25.4 8.9 13.5 12.7 10.4 20.5 7.4 16.5 12.1 OCT 0.7 0.9 0.4 2.3 0.7 1.7 0.3 0.6 1.8 0.1 2.0 0.7 0.4 NOV 0.6 1.3 0.2 2.0 0.4 0.9 0.3 0.6 0.5 0.4 1.0 1.7 0.4 uec 1.7 1.6 1.4 1.6 1.4 1.5 1.9 1.1 2.0 2.3 1.5 1.9 2.4 197V JAN 0^ 2 0.2 0.2 1.1 0.3 0.1 0.5 0.2 0.2 0.0 0.3 0.0 0.0 FEb 0.9 0.7 1.5 0.1 1.1 U.4 1.1 0.2 0.4 0.5 0.5 0.5 0.9 MAk OK LATEk 3.0 6.9 1.0 1.5 2.5 4.6 2.6 2.9 2.7 24.3 3.0 7.1 2.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100,0 100.0 100.0 100.0 100.0 TOTAL * 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF *100.000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN ThfS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TU R O U N U I N G . TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived manner: in the following Outstanding CD 1 s maturing in each month of the previous survey aie 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 la st 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 comparable 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 current 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 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 comparability 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.