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L.4.1(731) NOT FOR PUBLICATION O C T 3 01985 FLESDDRCN uotwi "• SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE COMMERCIAL BANKS AS OF APRIL 25, 1984 BANKING SECTION DIVISION OF RESEARCH AND STATISTICS IBOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERICAL BANKS AS OF APRIL 25, 1984 ! CD'S MATURING IN 1 1 I 1984 OUTSTANDING 1 PERCENTAGE AMOUNT (IN MILLIONS) 1 I 1 1 GROSS SALES (ESTIMATED) AMOUNT (IN MILLIONS) 1 I 1 1 PERCENTAGE 4,149.9 7.7 16,364.0 30.3 7,768.5 47.8 JUNF 9,366.2 17.4 3,050.7 18.8 JULY 5,711.5 10.6 3,255.9 20.0 AUGUST 1,974.7 3.7 404.0 2.5 SEPTEMBER 2,049.9 3.8 432.1 2.7 OCTOBER 1,129.1 2.1 NOVEMBER-APRIL (7-12 MONTHS) 2,765.3 5.1 1,331.4 8.2 OVER 12 MONTHS 10,418.8 19.4 53,959.5 100.0 16,242.6 100.0 APKIL 26-30 MAY TOTAL AVERAGE MATURITIES (IN MONTHS) NUMBER OF BANKS REPORTING NOTE: 1 ! ! i 39 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 FSTIMATES REFLECT CHANGES FROM THE PREVIOUS SURVEY TO THE CURRENT SURVEY IN OUTSTANDINGS FOR EACH OF I HE 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 APRIL 25, 1984 (AMOUNTS IN MILLIONS OF DOLLARS) OUTSTANDINGS CD* MATURING IN 1984 APRIL TOTAL 26-30 NEW YORK CITY SALES (ESTIMATED) OUTSIDE NEW YORK CITY TOTAL 1 NEW YORK CITY 11 OUTSIDE NEW YORK CITY 4,149 .9 1,265 .5 2,884.5 16,364 .0 5,708 .1 10,656.0 7,768 .5 2,174.8 5,593.7 JUNE 9,366 .2 3,480 .5 5,885.7 3,050 .7 675.9 2,374.8 JULY 5,711 .5 2,317 .3 3,394.2 3,255 .9 1,547.2 1,708.7 AUGUST 1,974 .7 667 .5 1,307.2 404 .0 113.8 290.2 SEPTEMBER 2,049 .9 961 .5 1,088.4 432 .1 265.5 166.6 OCTOBER 1,129 .1 259 .3 869.8 NOVEMBER-APRIL (7-12 MONTHS) 2,765 .3 378 .0 2,387.3 1,331 .4 410.8 920.6 OVER 12 MONTHS 10,448 .8 1,498 .7 8,950.1 53,959 .5 16,536 .4 37,423.1 16,242 .6 5,188.0 11,054.6 MAY TOTAL AVERAGE MATURITIES (IN MONTHS) NUMBER OF BANKS REPORTING NOTE: 4.1 2.8 4.7 39 9 30 1 I 1 1 1 | 1 1 1 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. I | • • • • • • • • • • • TABLE 2 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF APRIL 25, 1984 (PERCENTAGE DISTRIBUTION) I I I CD* MATURING IN TOTAL OUTSTANDINGS I I I NEW YORK CITY OUTSIDE II NEW YORK CITY I1 11 1 1984 SALES (ESTIMATED) TOTAL I OUTSIDE 1 1 NEW YORK CITY I NEW YORK CITY | 1 1 1 7.7 7.7 7.7 MAY 30.3 34.5 28.5 47.8 41.9 50.6 JUNE 17.4 21.1 15.7 18.8 13.0 21.5 JULY 10.6 14.0 9.1 20.0 29.8 15.5 3.7 4.0 3.5 2.5 2.2 2.6 3.8 5.8 2.9 2.7 5.1 1.5 OCTOBER 2.1 1.6 2.3 NOVEMBER-APRIL (7-12 MONTHS) 5.1 2.3 6.4 8.2 7.9 8.3 OVER 12 MONTHS 19.4 9.1 23.9 100.0 100.0 100.0 APRIL 26-30 AUGUST SEPTEMBER TOTAL NOTE: I i 100.0 | 1 100.0 100.0 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. 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 M A T U R I T Y DISTRIBUTION OF OUTSTANDINGS AND SALES OF 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 DEPOSIT AT LARGE COMMERCIAL BANKS AS OF APRIL 25, 1984 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) SALES ( E S T I M A T E D ) OUTSTANDINGS CD'S M A T U R I N G IN 1984 1 1 1 TOTAL I CD FUTURES |CONTRACT BANKS 1 I I 1 OTHER 1 1 1 TOTAL CD FUTURES C O N T R A C T BANKS OTHER 4,149.9 2,050.2 2,099 .8 16,364.0 6,452.3 9,911 .7 7,768. 5 2,543.2 5,225.3 JUNE 9,366.2 4,213.5 5,152 .7 3,050. 7 901.6 2,149.1 JU'Y 5,711.5 3,007.6 2,703 .9 3,255. 9 1,711.2 1,544.7 AUGUST 1,974.7 734.6 1,240 .1 404. 0 124.5 279.5 SEPTEMBER 2,049.9 1,108.1 941 .7 432. 1 265.8 166.4 OCTOBER 1,129.1 516.7 612 .4 NOVEMBER-APRIL (7-12 M O N T H S ) 2,765.3 1,161.2 1,604 .0 1,331. 4 554.4 777.0 OVER 12 M O N T H S 10,448.8 5,485.7 4,963 .1 53,959.5 24,730.1 29,229 .4 16,242. 6 6,100.7 10,142.0 APRIL 26-30 MAY TOTAL AVERAGE MATURITIES (IN M O N T H S ) NUMBER OF B A N K S REPORTING NOTE: 4.5 1 i i 4 1 5 -9 ! 1 30 39 i ' i INCLUDES N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT IN D E N O M I N A T I O N S OF $100,000 OR M O R E ISSUED BY BANKS WITH DOMESTIC A S S E T S OF $5 BILLION OR MORE AS OF DECEMBER 31, 1982. TOTAL SALES IS U N D E R S T A T E D . SALES OF CD"S BETWEEN SURVEY DATES THAT M A T U R E IN T H E R E M A I N I N G DAYS OF T H E C A L E N D A R MONTH OF THE CURRENT SURVEY ARE IGNORED. "CD FUTURES C O N T R A C T B A N K S " INCLUDE THOSE W H O S E CD"S ARE C O N S I D E R E D AS PART OF T H E D E L I V E R A B L E C D SUPPLY FOR P U R P O S E S OF FUTURE TRADING. TABLE 4 MATURITY DISTRIBUTION OF OUTSTANDINGS AND SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS AS OF APRIL 25, 1984 (PERCENTAGE DISTRIBUTION) SALES (ESTIMATED) OUTSTANDINGS CD'S MATURING IN 1984 TOTAL I CD FUTURES | |CONTRACT BANKS | OTHER TOTAL CD FUTURES CONTRACT BANKS OTHER 7.7 8.3 7.2 MAY 30.3 26.1 33.9 47.8 41.7 51.5 JUNE 17.4 17.0 17.6 18.8 14.8 21.2 JULY 10.6 12.2 9.3 20.0 28.0 15.2 AUGUST 3.7 3.0 4.2 2.5 2.0 2.8 SEPTEMBER 3.8 4.5 3.2 2.7 4.4 1.6 OCTOBER 2.1 2.1 2.1 NOVEMBER-APRIL (7-12 MONTHS) 5.1 4.7 5.5 8.2 9.1 7.7 OVER 12 MONTHS 19.4 22.2 17.0 100.0 100.0 100.0 100.0 100.0 100.0 APRIL TOTAL NOTE: 26-30 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 NEGOTIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF APRIL 25, 1984 (AMOUNTS IN MILLIONS OF DOLLARS) ALL DISTRICTS CD'S MATURING IN 1984 BOSTON NEW YORK ! CLEVE-I RICHLAND | MOND 1 PHILADELPHIA i i ATLANTA|CHICAGO| ! ! ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN I FRAN- I CISCO | 1 4,150 91 1,265 42 207 28 15 1,141 0 0 0 782 579 16,364 340 5,708 94 810 465 104 3,282 0 0 0 3,470 2,090 JUNE 9,366 414 3,481 85 341 268 33 1,786 0 0 0 1,386 1,572 JULY 5,712 81 2,317 32|1 157 194 26 1,387 0 0 0 569 948 AUGUST 1,975 4 668 82 92 4 237 0 0 0 323 563 SEPTEMBER 2,050 9 961 3! i 41I 60 88 10 221 0 0 0 130 565 OCTOBER 1,129 4 259 lii 41 54 18 242 0 0 0 158 353 NOVEMBER-APRIL (7-12 MONTHS) 2,765 8 378 83 166 34 414 0 0 0 213 1,449 OVER 12 MONTHS 10,449 48 1,499 1 61 1,248 168 59 502 0 0 0 1,193 5,726 53,959 999 16,556 287 j 3,028 1,525 303 9,212 0 0 0 8,223 13,847 APRIL 26-30 MAY TOTAL AVERAGE MATURITIES (IN MONTHS) 4.1 NUMBER OF BANKS REPORTING 39 NOTE: i 1.9 I 2.8 201 1 6.2 | 2.0 3.9 1 i ! 1 I 1 1 9 1 4.7 1 ! 1 4 2 2.4 .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. 3.2 7.2 4 9 • • • # # # # # + # # TABLE 6 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIALABLE TIME CERTIFICATES OF DEPOSIT AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF APRIL 25, 1984 (PERCENTAGE DISTRIBUTION) 1 ALL I 1 BOSTON DISTNEW YORK RICTS CD'S MATURING IN 1984 1 1 IPHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY 1 1 SAN DALLASI FRANCISCO 1 7.7 9.1 7.7 14.8 6.8 1.8 4.8 12.4 .0 .0 .0 9.5 4.2 MAY 30.3 34.0 34.5 32.9 26.7 30.5 34.4 35.6 .0 .0 .0 42.2 15.1 JUNE 17.4 41.5 21.1 29.4 11.3 17.6 11.0 19.4 .0 .0 .0 16.9 11.4 JULY 10.6 8.1 14.0 11.1 5.2 12.8 8.7 15.1 .0 .0 .0 6.9 6.8 AUGUST 3.7 .4 4.0 1.1 2.7 6.0 1.2 2.6 .0 .0 .0 3.9 4.1 SEPTEMBER 3.8 .9 5.8 1.5 2.0 5.8 3.4 2.4 .0 .0 .0 1.6 4.1 OCTOBER 2.1 .4 1.6 .4 1.3 3.5 5.8 2.6 .0 .0 .0 1.9 2.6 NOVEMBER-APRIL (7-12 MONTHS) 5.1 .8 2.3 6.9 2.7 10.9 11.3 4.5 .0 .0 .0 2.6 10.5 OVER 12 MONTHS 19.4 4.8 9.1 2.0 41.2 11.0 19.4 5.5 .0 .0 .0 14.5 41.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 .0 .0 .0 100.0 100.0 APRIL 26-30 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. TABLE 7 SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH AT LARGE COMMERCIAL BANKS, BY FEDERAL RESERVE DISTRICT AS OF APRIL 25, 1984 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN ALL DISTRICTS BOSTON| NEW I YORK PHILADELPHIA CLEVELAND ATLANTA|CHICAGO RICHMOND ST. LOUIS MINNEAPOLIS KANSAS CITY I SAN DALLAS| FRANI CISCO MAY 7,768 230 2,175 65 530 194 69 1,520 0 0 0 2,161 824 JUNE 3,051 211 676 53 186 69 18 633 0 0 0 691 514 JULY 3,256 69 1,547 27 89 90 20 788 0 0 0 385 241 AUGUST 404 0 114 1 11 36 1 66 0 0 0 50 126 SEPTEMBER 432 0 266 0 3 12 5 55 0 0 0 17 73 1,331 5 411 1 63 9 44 214 0 0 0 255 329 16,243 515 5,188 148 882 411 157 3,276 0 0 0 3,560 2,106 AFTER SEPTEMBER 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 APRIL 25, 1984 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN 1 ALL DISTRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY SAN DALLAS!1 FRAN1 CISCO 11 MAY 47.8 44.6 41.9 44.1 1 60.1 47.3 43.9 46.4 .0 .0 .0 60.7 39.1 JUNE 18.8 40.9 13.0 36.0 i 21.1 16.8 11.3 19.3 .0 .0 .0 19.4 24.4 JULY 20.0 13.4 29.8 18.3 10.1 21.9 1 3.0 24.1 .0 .0 .0 10.8 11.4 AUGUST 2.5 .1 2.2 .6 1.2 8.8 .3 2.0 .0 .0 .0 1.4 6.0 SEPTEMBER 2.7 .1 5.1 .2 .4 2.9 3.3 1.7 .0 .0 .0 .5 3.5 AFTER SEPTEMBER 8.2 1.0 7.9 .8 7.1 2.3 28.2 6.5 .0 .0 .0 7.2 15.6 100.0 100.0 100.0 100.0 J 100.0 100.0 100.0 100.0 .0 .0 .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 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.