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L.4. 1 CONFIDENTIAL (FR) August 14, 1967 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF July 26, 1967 Note: Sales since the previous survey and comparisons with the previous data reflect a revision in the June series whereby $14 million in outstanding negotiable CD's have been eliminated from the series due to a reporting error. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE 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 WEEKLY AS CD'S MATURING 1967 JULY 1968 NEGOTIABLE REPORTING OF 26 JUL AMOUNT (MILLIONS OF DOLLARS) IN 2 7 - 31 1 1/ TIME C E R T I F I C A T E S OF D E P O S I T AT BANKS 1967 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE S A L E S SINCE P R E V I O U S M O N T H 2/ ( Mi L L I O N S OF D O L L A R S ) .0 792.7 4.0 4.0 AUGUST 4,032.0 20.5 24.5 1,128.8 SEPTEMBER 3.973.0 20.2 44.7 780. 1 OCTOBER 2 ,718.8 13.8 58.5 1,066.0 NOVEMBER 1,276.2 6.5 65.0 296.9 DECEMBER 2.094.1 10.6 75.6 404.2 JANUARY 1,681.8 8.5 84. 1 734.8 FEBRUARY 468.8 2.4 86.5 68. 5 MARCH 569.6 2.9 89 .4 98.2 APRIL 474.5 2.4 91.8 111.5 MAY 307.0 1.6 93.4 23. 9 JUNE 376.8 1.9 95. 3 60.2 JULY 285.1 1.4 96. 7 220.1 644.7 3.3 100.0 XXX 19,695.1 100.0 XXX 4,993.4 OVER 12 M O N T H S TOTAL (MEMORANDUM: SEPTEMBER SEPTEMBER 11 15 252.5 1 ,040.3 1/ INCLUDES ONLY CERTIFICATES 2/ S E E T E C H N I C A L A P P E N D l X A. 3/ S A L E S OF C O * S M A T U R I N G AFTER IN D E N O M I N A T I O N S 11 M O N T H S . TAX AND D I V I D E N D M A T U R I T I E S > 1.3 5. 3 GF $ 1 0 0 , 0 0 0 OR M O R E XXX XXX ISSUED BY WEEKLY 43.2 237. 7 REPORTING BANKS. 3/ T A B L E 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 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 D E P O S I T NEW Y O R K C I T Y , C H I C A G O , AND ALL O T H E R W E E K L Y R E P O R T I N G B A N K S AS OF 2 6 JUL (IN M I L L I O N S NEW CD* S M A T U R I N G IN AMOUNT 1967 UF D O L L A R S ) YORK C I T Y CHICAGO SALES SINCE P R E V I O U S M U N T H 2/ - AT AMOUNT ALL SALES S I N C E PREV IUUS M U N T H — OTHER WEEKLY AMOUNT 2/ REPORTING SALES S I N C E PREVIOUS MUNTH 234.0 .0 48.8 .0 509.Q .0 AUGUST 1,474.9 394.5 266.0 68.9 2 ,291.1 665.3 SEPTEMBER 1,627.0 348.4 278.1 32.9 ? ,067.3 398.8 OCTOBER 97S. 1 371.2 203.0 96.0 1 ,536.7 598 .4 NOVEMBER 452.9 138.3 99. 1 39 .3 724.2 119.5 DECEMBER 790.8 145.3 230.8 6 3.6 1 ,07?.5 194.8 596.1 244.9 197. 1 74.7 888.6 415.0 FEBRUARY 110.2 13.9 68.5 10.9 290.1 43.9 MARCH 1 75.2 15.3 59.9 26.7 334.5 5T> .0 APRIL 152.1 36.3 43.0 21.2 279.4 54.2 MAY 126.4 11.7 27.5 .3 153.1 12.1 JUNE lib. 8 48.8 5.4 212.2 46 . 7 JULY 66.4 24.5 114.9 XXX 42. 1 XXX 487.7 XXX 7,016.4 1,752.4 1» 6 4 4 . 1 462.9 11 , 0 3 4 . 6 2,777.4 1967 JUL 27 - JUL 31 1968 J A N U A R Y UVER 12 M O N T H S TOTAL * NUMBER OF REPORTING BANKS 8. 1 /3 12 11 15 109.7 544. 7 1/ I N C L U D E S O N L Y C E R T I F I C A T E S 2/ S E E T E C H N I C A L A P P E N D I X A. 3/ SALES UF * T O T A L S MAY N U T A D D D U E TAX AND 19.D 106.7 IN D E N O M I N A T I O N CF $ 1 0 0 , 0 0 0 GR M O R E CD'S MATURING AFTER 11 M O N T H S . 10 R O U N D I N G . 23.0 / 3 187.3 11 (MEMORANDUM: SEPTEMBER SEPTEMBER 31.4 1 7 2 . 7 /3 242 CIVICENL MATURITIES) 20.4 100.1 2.7 10 . 1 ISSUE C BY W E E K L Y R E P O R T I N G 122.4 395.5 tiANK S BANKS 20.9 120.7 2/ TABLE 2B 1/ M A T U R I T Y D I S T R I B U T I O N CF C U T S T A N O I N G N E G O T I A B L E TIME C E R T I F I C A T E S UF D E P O S I T AT NEW YORK C I T Y , C H I C A G O . AND ALL OTHER W E E K L Y R E P O R T I N G B A N K S AS OF 26 JUL 1967 ANC 2d JUN (PERCENTAGE D1STRIBUTIUN) NEW YORK CITY CD'S MATURING IN 26 JUL 1967 CHICAGO 28 JUN 26 JUL ALL OTHER 28 JUN 26 JUL 20 JUN 4.3 4.6 3.3 4.3 3.0 2.7 01 M O N T H S 3/ 21.0 20 .6 16.2 24.1 20. e 24.4 02 M O N T H S 23.2 16.1 16.9 12. r lb. 7 15.G 03 M O N T H S 14.0 19.1 12.3 15.8 13.9 lb. 3 04 M O N T H S 6.5 9.1 6.0 6.9 6.6 8.6 05 M O N T H S 11.3 4.7 14.0 3.9 9. 7 5.6 06 M O N T H S 8.5 9.6 12.0 1C .8 8.1 8. 1 C7 M O N T H S 1 .6 5.2 4.2 7 .9 2. 6 4.4 08 M O N T H S 2.5 1.4 3.6 3.7 3.0 2. i 09 M O N T H S 2.2 2.4 2.6 2.1 2.5 2.6 10 M O N T H S 1.8 1.7 1.7 1.4 1.4 2.1 11 M O N T H S 1.7 1.7 3.0 1.8 1.9 1.3 12 M O N T H S .9 1.6 1.9 2.8 1. 7 1.5 1.6 2.3 2.6 3.3 4.4 4. 6 100.0 100.0 100.0 100.0 0-6 DAYS 2/ OVER 12 M O N T H S TOTAL * 1/ I N C L U D E S O N L Y C E R T I F I C A T E S BANKS. IN O E N O f INAT I LNb OF * 1 0 0 , 0 0 0 OR MUKfc ISSUED BY 2/ N U M B E R OF DAYS R E M A l M h G IN SURVEY M O N T H . THIS P E R I O D V A R I E S WITH THE F O L L O W I N G THE LAST wEONfcSDAY OF THE M O N T H . 3/ N U M B E R CF M O N T H S F O L L O W I N G THE SURVEY * T O T A L S M A Y NUT ADD DUE TC R U U N D I N G . •CNTH. 100. 0 100.0 WEEKLY REPuRIlNv NUMBER UF U A Y S T A B L E 2C 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 N E G O T I A B L E TIME C E R T I F I C A T E S UF D E P O S I T AT NEW YORK C I T Y , C H I C A G O , AND ALL OTHER AS OF 2 6 JUL WEEKLY R E P O R T I N G 1967 AND 2d JUN BANKS 1967 i 1 1 1CUMULATIVE DISTRIBUTION! IN 26 28 JUN 26 JUL 28 JUN 26 JUL OTHER 28 JUN 3.3 4.3 3.0 2.7 4.6 4.3 01 M O N T H S 3/ 24.3 24.9 19.2 26.8 25.4 28.7 02 M O N T H S 47.5 41.0 36.1 39.5 44. 1 43.7 03 M O N T H S 61.5 60.1 48.4 55.3 58.0 59.0 04 M O N T H S 68.0 69.2 54.4 62.2 64. 6 67.6 05 M O N T H S 79.1 73.9 68.4 66.1 74.3 73.2 06 M O N T H S 87.8 83.5 80.4 76.9 82.4 81.3 07 M O N T H S 89.4 88.7 84.6 84.8 85.0 85.7 08 M O N T H S 91 .9 90*1 88.2 88.5 88.0 88.0 09 M O N T H S 94.1 92.5 90.8 90.6 90.5 90.6 10 M O N T H S 95.9 94.2 92.5 92.0 91.9 92.7 11 M O N T H S 97.6 95.9 95.5 93.8 93.d 94. 0 12 M O N T H S 98.5 97.5 97.4 96.6 95.5 95.5 100.0 100.0 100.0 100.0 100.c 100.0 0 - 6 W A Y S 2/ OVER 1/ JUL ALL CHICAGO CiTY CD'S MATURING 12 M O N T H S . INCLUDES ONLY C E R T I F I C A T E S BANKS. IN D E N O M I N A T I O N S OF $100,000 OR M O R E 2/ N U M B E R UF D A Y S R E M A I N I N G IN SURVEY MCNTH. THIS F O L L O W I N G THE LAST WEDNESDAY OF THE K O N T H . 3/ N U M B E R OF M O N T H S F O L L O W I N G T HE SURVEY M O N T H . ISSUED BY WEEKLY REPORTING P E R I O D V A R I E S WITH THE NUMBER OF D A Y S TABLE: 3A $i B I L L I O N CD'S MATURING 1967 JUL IN 27-31 TOTAL $200 MILLION AND UNDER $200 MILLION TO $ 500 M I L L I O N $500 MILLION TO $1 BILLION AND OVER PRIME TOTAL 3/ O U T S IDE NEW Y O R K CITY NON-PRIME NEW YORK CITY 792.5 41.2 91.5 100.3 559.5 220.4 187.4 151.7 AUGUST 4,C32.C 203.2 465. 8 618.1 2,744.9 1,397.4 766.9 580.6 SEPTEMBER 3,973. C 146.9 421.2 535.6 2,869.3 1, 558. 8 862.1 448.4 OCTOBER 2.718.8 121.4 328.4 428.5 1.840.5 92 9.2 557.3 354.0 NOVEMBER 1 ,2 76. 1 55.3 143.2 197.9 879.7 438.5 269.1 172.1 DECEMBER 2*094.u 85.7 191.4 243.3 1.573.6 760.8 575.6 237.2 1.681.9 67.4 185.1 249.8 1,179.6 570.3 378.9 230.4 FEBRUARY 468. 7 16.8 51.4 78.7 321.8 105.9 183.2 32.7 MARCH 56 9. 6 14.4 4 7.6 113.9 393. 7 169.8 137.6 86.3 APRIL 474.4 18.4 53.2 63.8 339.0 139.4 122.0 77.6 MAY 306.8 10.4 24.1 31.6 240.7 126.3 83.4 31.0 JUNE 3 76.8 16.6 41.6 63.8 254. 8 106.4 102.6 45.8 JULY 285,0 12.5 27.4 48.5 196. t 62.4 8C.4 53.8 AUGUST OR L A T E R 644. 7 7.3 48.6 97.7 491. 1 114.6 289.2 87.3 1 9 , 6 9 4 .3 817.5 2,120.5 2,871.5 13,884.8 6 , 7 CO. 2 4,595.7 2,588.9 1968 J A N U A R Y TOTAL * (MEMOKANOUM: TAX AND DIVIDEND M A T U R I T I E S ) SEPTEMBER 11 252.4 7.8 17.8 36.4 190.4 107.0 46.9 36.5 SEPTEMBER 15 1,040.2 23.6 54.2 62.7 899.7 538.4 291.4 69.9 12 18 (MEMORANDUM: 265 95 NUMBER 83 UF B A N K S ) -50 37 1/ I N C L U D E S 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 Of $100,000 LR PUKE ISSUED BY W E E K L Y R E P O R T I N G H A N K S . 2/ TOTAL D E P O S I T S AS RE*>OK\tD IN THE C A L L RtPCRT Lf C C N D I T I C N CN C t C E M B E R 31, 1 9 6 5 . 3/ P R I M E B A N K S A R E THCSfc WHOSE N E G O T I A B L E C E R T I F I C A T E S UF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T R E P O R T E D BY D E A L E R S TO T R A D t hi THIN 1 OR 2 BAblS P O I N T S OF EACH CT Hfctf WITHl,* THE S E C O N D A R Y M A R K E T . * T O T A L S M A Y N U T A D D DtlE TO R O U N D I N G . DUALITY AND WHICH ARE TABLE 38 SALES /!/ CF NEGOTIABLE TIME CERT1F1CATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 26 JUL 1967 tAMCUNTS IN MILLIONS OF DOLLARS) $1 BILLION AND OVER CC« s MATURING 1 9 6 7 JUL IN TOTAL $200 MILLION AND UNDER $200 MILLION TC $500 MILLION $500 MILLION TO $1 BILLION PRIME 4/ TOTAL NEW YORK CI TY OUTSIDE NEW YORK CITY NON-PRIME 27-31 AUGLST 1,126.t 50.5 134.0 189.6 754.7 355.3 207.0 192.4 780.0 24.8 92.5 98.4 564.3 334.7 133.5 96. 1 1,066.1 57.6 147.1 162.2 699.2 350.6 196.9 151.7 NOVEMBER 297. 0 5.2 25.1 34.2 232. 5 132.8 71.6 28.1 DECEMBER 4C4. 1 16.8 32.6 40.7 314.0 138.2 132.0 43.8 734. 9 39.3 100.0 104.0 491.6 226.8 154.9 107.9 FEBRUARY 68.6 4.3 11.9 17.0 35.4 12. 3 15.8 7.3 MARCH 98.2 1.5 1.7 19.7 75.3 12.4 37.2 25.7 APRIL 111.4 2.4 5.6 17.5 85.9 28.8 29.9 27.2 MAY 23. 8 0.8 1.3 4.5 17.2 11.7 4.2 1.3 JUNE 6C.3 6.5 13.7 14.2 25.9 5.4 14.3 220.0 14.1 26.6 52.9 126.4 23.5 57.8 45.1 4,993.2 223.8 592.1 754.9 3,422.4 1,634.5 1,055.1 732.8 9. 3 SEPTEMBER OCTOBER 1968 JANUARY JULY OR LATER TOTAL * — SEPTEMBER 11 43.2 SEPTEMBER 15 237.6 (MEMORANDUM: 0.8 5.2 — 265 95 TAX 6.2 AND DIVIDEND M A T U R I T I E S ) 1.9 6.9 33.6 IS.9 4.4 20.1 24.7 187.6 103.1 55.6 28.9 12 18 (MEMORANDUM: NUMBER OF BANKS) 83 50 37 1/ SEE TECHNICAL APPENDIX A . 2/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 CK MOFE ISSUEC BY WEEKLY REPORTING BANKS 3/ TOTAL DEPOSITS AS R EPORTED IN THE CALL REPORT OF CONDITION CN DECEMBER 31, 1965. * TOTALS MAY NOT ADO Ollh TO R O U N D I N G . ARE TABLE 3C 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 UF D E P O S I T AT WEEKLY R E P O R T I N G bANK S BY SIZE OF B A N K S 2/ AS CF 26 JUL 1967 PERCENTAGE DISTRIBUTION 1/ SI BILLION ANO O V E R CD'S MATURING IN S2G0 MILLION ANO UNDER TOTAL $200 MILLION TO MILLION $500 $500 MILLION TO *1 BILL ION - PRIME 3 / TOTAL NEW YORK CITY 1967 JUL 27-31 NON-PR i fE 4.0 5.0 4.3 3.5 4.0 3.3 4.1 5.9 AUGUST 20.5 24.9 22.0 21.5 19.6 20. 9 lb.7 22.4 SEPTEMBER 20.2 18.0 19. 9 18.7 20. 7 23.3 18.8 1 7.3 OCTOBER 13.8 14.9 15.5 14.9 13.3 13.9 12.1 13.7 NOVEMBER 6.5 6.8 6.8 6.9 6.3 6.5 5.9 6.6 DECEMBER 10.6 10.5 9.0 8.5 11.3 11.4 12.5 9.2 8.5 8.2 8.7 d.7 8.5 8.5 8.2 8.9 FEBRUARY 2.4 2.1 2.4 2.7 2.3 1.6 4.0 1.3 MARCH 2.9 1.8 2.2 4.0 2.8 2.5 3.0 3.3 APKiL 2.4 2.3 2.5 2.2 2.4 2.1 2.7 3.0 MAY 1.6 1.3 1.1 1.1 1.7 1.9 1.8 1.2 JUNE 1.9 2.0 2.0 2.2 1.0 1.6 2.2 1.8 JULY 1.4 1.5 1.3 1.7 1.4 C.9 1.7 2.1 AUGUST OR LATER 3.3 0.9 2.3 3.4 3.5 1.7 6.3 3.4 100.0 100.0 130.0 100.0 100.0 1 CO.0 IOC.0 100.0 1968 J A N U A R Y TOTAL — OUTSIDE NEW YORK CITY * ——— — — — ( MEMORANDUM ' TAX ANU DIVIDEND M A T U R I T I E S ) SEPTEMBER 11 1.3 1.0 0.8 1.3 1.4 1.6 1.0 1.4 SEPTEMBER 15 5.3 2.9 2.6 2.2 6.5 8.C 6.3 2.7 1/ INCLUDES C E R T I F I C A T E S IN DfcNOMlNATICNS CF $100,000 OK MORE ISsUfcD BY WEEKLY REPORT ING B A N K S . 2/ TOTAL D E P O S I T S AS R E P O R T E D IN THE CALL REPCRT CF C C N D I T I C N CN DECEMBER 31, 1965. 3/ P R I M E BANKS A R E THCSE WHO St N E G O T I A B L E C E R T I F I C A T E S uF DEPOSIT ARc R c G A R D t D AS BEING OF THE HIGHEST R E P O R T E D BY DLALEkS fO TRADE WITHIN 1 UR 2 BASIS POINTS UF EACH OTHER WITHIN THE SECONDARY M A R K E T . * TOTALS MAY NOT ADD DUE TO R O U N D I N G . QUALITY AND WHICH ARE TABLE 3D M A T U R I T Y D I S T R I B U T I O N Of CUT S T A N D I N G 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 D E P O S I T AT W E E K L Y R E P O R T I N G B A N K S BY SIZE UF B A N K S 2/ AS OF 26 JUL 1 9 o 7 CUMULATIVE PERCENTAGE SI B I L L I O N - CD9S MATURING IN TOTAL $200 MILLION ANU UNDER *200 1500 MILLION TC MILLION $500 MILLION TO $1 B I L L I O N 1/ - P R I M E 3/ TOTAL N E W YORK CITY 1967 JUL 27-31 V AND OVER 4.0 5.0 4.3 3.5 4.0 AUGUST 24.5 29.9 26.3 25.0 23.8 SEPTEMBER 44.7 47.9 46.2 43.7 OCTOBER 56.5 b2.8 61.7 NOVEMBER 65.C 69.6 DECEMBER 75.6 i. 3 OUTSIDE NEW YORK CITY NGN-PR1PE 4. 1 5.9 24.2 2C.8 28.3 44.5 47.5 39.6 45.6 58.6 57.8 61.4 51.7 59.3 bti . 5 65.5 64.1 67. 9 5 7.6 65.9 80.1 77.5 74.0 75.4 79.3 70.1 75.1 84.1 88.3 86.2 82.7 83.9 87. 8 78.3 84.0 FEBRUARY 86.5 90.4 88 .6 85.4 86.2 89.4 82.3 85.3 MARCH 89.4 92.2 90.8 89.4 89.0 91.9 85.3 88.6 APRIL 91.8 94.5 93.3 91.6 91.4 94.0 88.0 91.6 MAY 93.4 95.8 94.4 92.7 93.1 95.9 89.8 92.8 JUNE 95.3 9 7.8 96.4 94.9 94.9 97.5 92.0 94.6 JULY 96.7 99.3 97.7 96.6 96. 3 98.4 93.7 96.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1968 J A N U A R Y AUGUSi OR L A T E R T A B L E 3E SALES Zl / CF N E G U ? I A B L E TIME C E R T I F I C A T E S OF DEPOSIT SINCE P R E V I O U S AT WEEKLY K t P O R T I N G BANKS BY SIZE OF BANKS 3/ AS OF 2b JUL 1967 PERCENTAGE DISTRIBUTION MONTH 2/ $1 B I L L I O N AND OVER CD'S MATURING 1967 JUL 19od IN TUIAL $200 MILLION AND UNDER S200 *000 MILLION TC fILLICN lb00 MILLION TO Si E1LLION — PRIME 4/ TOTAL Nb t* YORK CIfY OUTSIDE NEW YORK CITY NON-PRI^E 2 7—31 AUGUST 22. 6 22.6 22.6 25.1 22.1 21. 7 19.6 26.3 SEPTEMBER 15.6 11.1 15.6 13.0 16.5 2 C. 5 12.7 13.1 OcFObER il.4 25.7 24. ti 21.5 20 .4 21.4 18.7 20.7 NO VfcMBtR 5. ^ 2.3 4.2 4.5 t>. 8 8.1 6.8 3.8 DECEMBER 8.1 7.5 5.5 5.4 9.2 8.5 12.5 6.0 14. 7 17.6 lb.9 13.8 14.4 14.0 14.7 14.7 FEBRUARY 1.4 1.9 2.0 2.3 1.0 0.8 1.5 2.0 1.0 MARCH 0.7 0.3 2.6 2.2 0. 8 3 .5 2.2 3. 5 APR IL 1.1 0.9 2.3 2.5 1. 8 2 .8 3.7 MAY 0. 5 0.4 0.2 0.6 0.5 0. 7 0.4 1,2 0.2 JUNE 2.9 2.3 1.9 0.8 0.3 1.4 0.8 JULY OR LATER 4.4 o.3 4. r> 7.0 3.7 1.4 5 .5 6.2 100.0 100.c 100.0 100 .0 100.0 JANUARY TOTAL » 100.0 100.u 100.0 (MEMORANDUM: TAX ANu D I V I D E N D M A T U R I T I E S ) SEPTEMBER 11 0.9 0.4 0.3 0.9 l.C 1.2 0.4 1.3 SEPTEMBER 15 4.8 2.3 3.4 3.3 5. 5 6.3 5.3 3.9 (MEMORANDUM: 265 95 N U M b E R Of- B A N K S ) 83 50 1/ SEE TECHNICAL A P P E N D I X A . 2/ INCLUDES C E R T I F I C A T E ^ IN DENGMI KA TILN S CF i100 tOO 0 CR MERE ISSUED fcY WEEKLY R E P O R T I N G 3/ TOTAL D E P O S I T S A S R E P j R T E D IN THE CALL AcPLRT CF C O N D I T I O N LN DECEMBER 31, 1S65 r 37 BANKS 12 18 - TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES (IN MONTHS) DATE UF SURVEY BANK CLASSIFICATION — 26 JUL 1967 — — — — — — — 28 JUN 1967 31 MAY 1967 (BY LOCAT ION) ALL REPORTING BANKS ISSUING CD'S 3.6 3.5 3.6 3.3 3.4 3.6 CHICAGO 4.1 3.8 3.5 OTHER 3. 7 3.5 3.6 NEW YORK CITY (BY size OF B A N K ) 2/ UNDER $200 MILLION 3.2 2.9 2.9 $20C-$500 MILLION 3.4 3.2 3.3 $500-$l,000 MILLION 3*6 3.4 3.4 OVER 3.6 3.6 3. 1 3.3 3.5 3.6 4.2 4.1 4.0 3.6 3.4 3.4 $1 BILLION PRIME IN NEW YORK CITY 3/ PRIME OUTSIDE NEW YORK CITY NON-PRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL D E P O S I T S AS REPORTED IN THE CALL REPORT 3/ IN DENOMINATIONS OF $13 0,000 OK MORE ISSUED BY WEEKLY REPORT I,Nl, BANKS. OF CONDITION UN OECEMoER 3 1, 1965. TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME C E R T I F I C A T E S OF SOLD BY WEEKLY REPORTING DEPOSIT 1/ BANKS DURING THE MONTH UF V A R I O U S S U R V E Y S (IN M O N T H S ) BANK C L A S S I F I C A T I O N JUL 1967 28 JON 1967 31 MAY 1967 (BY L O C A T ION) ALL R E P O R T I N G RANKS ISSUING NEW CD'S 3.5 YORK CITY 3 , 1, CHICAli0 »2QQ-&00 3 3.6 4., (BY 3 3 ^ 3.0 4.3 UNDER $200 MILLION .2 SIZE O F B A N K ) 2/ « 'N , , 3.3 2.9 s , , 3.4 2.8 $ 5 0 0 - t l , 0 0 0 MILLION J1 H8 , , 3.3 3.1 OVER 3 ,3 , MILLION ' tl BILLION PRIMfc IN NfcW YORK CITY 3/ PRIME O U T S I D E NEW YORK CITY NON-PRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL IN D E N O M I N A T I O N S OF D E P O S I T S AS R E P O R T E D 3/ "h'c" http://fraser.stlouisfed.org/ N O T E — S E E TECHNICAL A P P E N D I X 6. Federal Reserve Bank of St. Louis 3/ -2 3.1 3>0 3.9 3.5 3.7 3. I S100.000 ,)R MURF IN THE CALL REPCRT s 3.6 ? ? 3.3 ISSUE, BY W E E K L Y R E P O R T I N G B A N K S . OF C O N D I T I O N ON DECEMBER 31, 1965. r* T A B L E 5A RATIO OF OUTSTANDING N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T TO TOTAL AT V A R I O U S (PER DEPOSITS SURVEY DATES CENT I )ATE OF UN TOTAL DEPOSITS 2/ M I L L I O N S OF D O L L A R S ) 26 JUL ALL B A N K S ISSUING CD * S 1/ 1967 28 JUN SURVEY 1967 31 MAY 1967 10.4 9. 9 9.8 UNDER 2 00 6.4 5 .7 6. 0 200 - 500 7.9 7.6 7.6 500 - 1000 9.2 8.2 8.1 11.8 11.4 11.3 14.5 14.2 13.6 9.5 9.1 9.2 11.0 10.8 10. 9 OVER 1000 PRIME IN NEW YORK 3/ P R I M E • UTS IDt NEW YORK 3/ NONPRIME 1/ INCLUDES C k R T I F ICATES IN D E N O M I N A T I O N S OF $100,003 2/ TOTAL D E P O S I T S AS R E P O R T E D IN THE CALL REPORT OR MORE ISSUED BY W E E K L Y R E P O R T I N G OF C O N D I T I O N ON DECEMBER BANKS. 31, 1965. 3/ P R I M E B A N K S ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D A S B E I N G OF THE H I G H E S T Q U A L I T Y A N D W H I C H ARE R E P O R T E D BY D E A L E R S TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTE- O E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O INTERBANK A N D U . S . G O V E R N M E N T D E P O S I T S . IN THIS TABLE ARE TOTAL D E M A N D AND TIME D E P O S I T S , INCLUDING TABLE 5B RATIO OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S CF D E P O S I T TO TOTAL DEPOSITS AS OF 26 JUL (NUMBER OF (IN M I L L I O N S OF ALL BANKS CD'S DOLLARS) OR LESS 1967 BANKS) 10 TO 15* TO 10* 1/ 15 TO 20 TO 25% 20% 25% OR MORE A V E R A G E CD TO D E P O S I T R A T I O (PER C E N T ) ISSUING 118 68 52 18 7 2 10.4 UNDER 200 56 21 12 5 I 0 6.4 200 - 500 34 24 16 5 2 2 7.9 23 13 11 2 I 0 9.2 5 IC 13 6 3 0 11.8 0 I 3 1 2 0 14.5 PRIME O U T S I D E NEW YORK 3/ 3 5 1 2 1 0 9.5 NONPRIME 2 4 9 3 0 0 1UC 500 - 1 0 0 0 OVER 1000 PRIME 1/ IN NEW YORK 3/ INCLUDES C E R T I F I C A T E S IN DENOMINATIONS UF * 1 0 0 , 0 0 0 OR MORE 2/ TOTAL D E P O S I T S AS REPORTED "0,E" IN THE CALL REPORT m ISSUED BY WEEKLY R c P O R T I N G CF CONDITION ON , M , s t " l e ™ e DECEMBER t "tal k " 31, m ° 1V65. « « ° " « BANKS. T A B L E 5C PER CENT C H A N G E IN OUTSTANDING N E G O T I A B L E TIME C E R T I F I C A T E OF D E P O S I T 28 JUN 1967 TO 26 JUL (NUMBER OF TOTAL D E P O S I T S 2/ C IN M I L L I O N S ALL B A N K S CD'S UNDER OF D O L L A R S ) REDUCED CD'S TO ZERO DECLINES lv * 0R MORE 5 1967 BANKS) OF 1 0 INCREASES OF 5 10% /I * 0R LESS NO CHANGE 5* OR LESS 5 TO 10* 1 OS OR MORE ISSUED CD'S BUT H A D NONE O U T S T A N D I NG ON BASE DATE ISSUING 30 26 48 30 63l 24 49 200 0 11 7 13 18 21 8 19 0 200 - 500 0 12 9 17 9 17 5 17 0 500 - 0 7 7 12 3 8 5 & 0 0 0 3 6 0 17 6 5 0 0 0 1 0 0 5 0 I 0 0 0 2 3 0 4 2 1 0 0 0 0 3 0 8 4 3 0 OVER 1000 1000 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3/ NGNPR I ME 1/ TNCLUOES C E R T I F I C A T E S IN D b N O M I N A T I O N S OF $100,000 OR MORE 2/ TOTAL D E P O S I T S AS R E P O R T E D ISSUED BY W E E K L Y REPORTING IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. BANKS. TABLE PER CENT CHANGE IN O U T S T A N D I N G 26 APR N F G O T 1 ABLE 1967 TO (NUMBER TOTAL UN ALL DEPOSITS MILLIONS BANKS CD'S OF /2 REDUCED C D 1 S 25% TO OR ZERO MORE DOLLARS) 5D OF T I M E C E R T I F I C A T E OF 26 JUL 15 TO 20* 10 TO 15% /I 1967 BANKS) D E C L I N E S OF 20 TO 25% DEPOSIT INCREASE 5 TO 10% 5% OR LESS — - N U 5 0 K CHANGE T[J LESS 10* 10 TO 15% OF 15 TO 20% 20 TO 25% 25% OR MORE ISSUED C D ' S BUT H A D NONE OUTSTANDING ON B A S F D A T E ISSUING 15 11 19 21 26 11 35 20 23 10 11 52 UNDER 200 2 9 2 5 5 6 8 7 12 5 3 4 6 21 2 200 - 500 3 3 4 3 6 6 8 4 9 6 6 4 4 19 1 500 - 1000 0 3 1 1 6 5 4 0 7 6 8 1 1 7 0 0 0 1 2 2 4 6 0 7 3 6 1 0 5 0 0 0 1 0 3 0 0 0 1 2 1 1 0 1 0 0 0 0 2 0 1 1 c 4 0 3 C 0 1 0 0 0 0 0 2 3 5 0 2 1 2 0 0 3 0 OVER 1000 PRIME IN N E W PR 1ME O U T S I D E YORK NEW 3/ YORK 3/ N O N P R IME 1/ INCLUDES CERTIFICATES 2/ T O T A L Nore D E P O S I T S AS IN D E N O M I N A T I O N S REPORTED OF $100,000 IN THE C A L L R E P O R T OF OR MORE CONDITION ISSUED ON BY W E E K L Y DECEMBER 31, REPORTING BANKS. 1965. "E E E s B ! - * ™ ™ » T A B L E 5E CHANGE IN O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF OfcPUSl T 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE B E G I N N I N G OF THE P E R I O D 28 JUN 1967 TO 26 JUL (NUMBER OF TOTAL D E P O S I T S 2/ 1967 BANKS) OFCLIN F S OF CIN M I L L I O N S OF D O L L A R S ) 3% AND OVER 2 TO 3% I TO 2% INCREASES OF u ANO LESS NO CHANGE 1% A NO LESS 1 TU 2% 31 2 TU AND OVER 3% ALL B A N K S ISSUING CD'S 0 3 12 94 25 98 24 5 4 UNDER 200 0 1 2 31 16 37 5 0 3 200 - 500 0 1 6 33 6 24 9 3 1 500 - 1000 0 1 4 21 3 15 5 1 0 OVER 0 0 0 9 C 22 b 1 0 0 0" 0 1 0 5 1 0 0 0 0 0 5 0 4 3 0 o 0 0 0 3 0 13 1 1 0 1000 PRIME IN NEW PRIME OUTSIDE NEW YORK 3/ YORK 3/ NONPRI ME 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 OF 1 1 0 0 , 0 0 0 UR MORE 2/ TOTAL D E P O S I T S AS REPORTED ISSUED BY W E E K L Y R E P O R T I N G IN THE CALL REPORT OF CONDITION UN DECEMBER 31, BANKS. 1965. 3/ PRIME B A N K S ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y AND W H I C H ARE R E P O R T E D B Y D E A L E R S TC TRADE WITHIN 1 OR 2 BASIS P O I N T S OF EACH OTHER WITHIN THE S E C O N D A R Y M A R K E T . NOTE- D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O I N T E R B A N K A N D U.S. G O V E R N M E N T D E P O S I T S . IN THIS T A B L E ARE TOTAL D E M A N D AND TIME D E P O S I T S , INCLUDING TABLE 5F CHANGE IN OUT SI 4NO ING NEGOTIABLE OVER THE LAST THREE MONTHS TIME C E R T I F I C A T E S OF D E P O S I T AS A PER CENT OF AT THE B E G I N N I N G OF 26 APR TOTAL D E P O S I T S 2/ UN ALL M I L L I O N S OF QECLINES DOLLARS) 5% AND OVER BANKS ISSU ING CD* S 4 TO 5% 3 TO 4% DEPOSITS THE P E R I O D 1967 TO 26 JUL (NUMBER OF TOTAL 1/ 1967 BANKS) OF I NC.RFASES OF 2 TU 3% 1 TO 2% U AND LESS NO CHANGE 1% AND UNDER 1 TO 3 TO 4% 2 TO 33 2% 4 ro 5% 5% AND OVER 0 2 2 9 23 64 I 1 80 31 21 13 2 4 200 0 1 1 4 9 20 7 27 9 9 4 1 1 2 0 0 - 500 0 0 1 3 6 21 4 23 12 4 5 1 2 500 - 0 0 0 2 4 13 C 18 7 3 2 0 1 0 1 0 0 4 10 0 12 3 5 2 0 0 0 I 0 0 0 0 0 2 1 3 0 0 0 0 0 0 0 2 2 0 6 0 1 I 0 0 0 0 0 0 2 3 0 4 2 1 1 0 0 UNDER OVER 1000 lOOC PRIME IN M E W YORK 3/ PRIME O U T S I D E NEtf YORK NONPR IME 1/ 3/ INCLUDES C E R T I F I C A T E S 2/ TOTAL IN D E N O M I N A T I O N S OF S1C0 ,000 OR MORE D E P O S I T S AS R E P O R T E D 1IN THE CALL REPORT ISSUED BY WEEKLY R E P O R T I N G CF CONDITION ON DECEMBER 31, BANKS. 1965 • 3/ P R I M E R A N K S ARE THOSE WHOSE NEGOTIABLE CERTIFICATES UF DEPOSIT ARE R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y AND W H I C H ARE R E P O R T E D BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTE- D E P O S I T S IN THE DENOMINATOR OF THE R A T I O I N T E R B A N K AND U.S. G O V E R N M E N T D E P O S I T S . IN THIS TABLE ARE TOTAL D E M A N D AND TIME D E P O S I T S , INCLUDING TABLE 6A 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 N E G O T I A B L E TIME C E R T I F I C A T E S UF D E P O S I T AT WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 26 JUL (AMOUNTS CD'S M A T U R I N G IN ALL 01 sTR1CTS NEW YORK IN M I L L I O N S OF PHILADELPHIA CLEVELAND 44. 7 37.9 302.5 26.5 196 7 DOLLARS) RICHMOND ATLANTA CHICAGO ST. MINNE- KANSAS SAN FRAN- 8.6 17.3 108.9 1 1.2 12.3 21.9 37.3 163.7 AUG 4031.9 227.3 1707.2 130.4 264.1 61.5 114. 1 457.8 70.2 60. 8 89.1 257.6 591.8 SEP 3973.1 174.9 1871.8 91 .4 237.9 88. 1 89.4 415.6 59. 7 59. 1 89.8 208.9 5A6.5 OCT 2718.5 190.1 1131.6 87.5 169.4 56.3 71.7 322.3 42. 7 41.4 70.7 179.9 354.9 NOV 1276.4 80.0 512.3 33 . 3 107.2 23.7 33.3 162.5 25.2 17.2 35.3 64.2 182.2 DEC 2094.1 101.4 917.0 56.1 140.2 50. 5 38.0 282.0 43. 5 28. 1 36.5 99.3 301.5 1968 J A N 1681.8 68. 1 701.9 25.5 100.8 25.3 46.8 237.2 31.4 35.2 23.6 149.8 236.2 FEB 468.9 23.5 140.2 5.3 29.9 15.6 17.5 102.1 16.2 3.4 6.2 25.G 83.4 MAR 569.6 29. 3 226.1 29.2 22.6 11.9 21.1 82.0 13.2 1.7 6.9 36.4 89.2 APR 474.7 22.6 195.8 10.3 47.1 3.4 9 . 3 68.2 5.2 5.0 12.1 28.3 67.4 MAY 306. 8 9.5 143.6 6.9 18.3 1.2 6.3 51.3 3. 7 1.6 0.9 14.9 48.6 J UN 377.0 35. 1 126.5 20.5 16.0 3.1 15.4 64.2 3. 7 1.8 8.2 19.7 62.8 JUL 285.2 8. 7 83.4 8 .8 25.0 0.3 10.0 42.4 2.6 0.2 8. 1 33.7 62.0 AUG OR LATER 644. 5 37.8 150.9 38 .5 191.4 8.4 24.1 74.2 1. 7 1.5 1.2 32.7 8 2. 1 19695.3 1046.2 8210.8 570.2 1414.6 357.9 514.3 2470.7 330.2 3. 5 3.5 3.3 3.9 4.5 3.3 3.8 3.8 3.3 18 47 11 18 17 22 35 9 TOTAL * IN M O N T H S 2/ BANKS 1/ BOSTON 1/ 265 INCLUDES ONLY C E R T I F I C A T E S 2/ SEE TECHNICAL APPENDIX * OtT A I L S MAY NOT ADD ISSUED IN DENOMINATIONS 6. TO TOTALS DUE TO ROUND I \lu. OF tlOO.OOC OR M O R E BY WEEKLY R E P O R T I N G BANKS TABLE 6 8 1/ 2/ SALES CF NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT SINCE P R E V I O U S MONTH WEEKLY REPORTING BANKS BY F E D E R A L RESERVE DISTRICT AS OF 26 JUL (AMOUNTS CD* S M A T U R I N G IN ALL DISTRICTS BOSTON 1967 AUG 1129.9 95.7 SEP 780.2 OCT 1967 IN M I L L I O N S OF DOLLARS ) ST. LOUIS MINNEAPOLIS KANSAS C I TY DALLAS SAN FRANCISCO 107.8 16.9 12. 0 29.8 68.2 17 1.0 16.1 53.2 6.0 9.4 13.1 32. 1 102.9 15.2 36.0 147.6 9.9 14.0 3 8. 9 89.9 127.3 36.3 0.3 2.2 46.0 3.3 1.7 12.3 4.6 29.4 18.4 39.2 6.4 4.1 70.9 1.8 2.6 4.5 17.5 49.6 279.9 11.8 47.6 14.6 28.1 98.2 11.8 7.6 14.6 87.4 107.1 2.3 24.4 1.0 3.8 0. 1 4.9 15.8 1.9 0.4 C.4 9. 1 4.4 98.2 7.6 38.0 1.7 3.3 0.0 2.2 30.7 0.0 0. 5 0.3 5.2 8.7 APR 111.6 5.3 40.5 0.9 7.4 C. 3 2.3 28.0 0.0 0.5 0.9 11.6 13.9 MAY 23.9 2.0 13.9 0.9 1.0 0 .0 0 .6 1.0 0.0 0.1 0.0 1.1 3.3 J UN 60.4 6.4 1C.2 2.3 3.2 0.8 7.5 8.0 1.8 0.3 0.9 6.6 12.4 220. 1 6. 3 39.9 10.9 17.8 0.4 9.1 41.3 2.6 1.2 7.8 38.8 44.C 4993.5 285. C 2096.4 120 .9 367.7 62.9 136.2 648 .5 56. C 50.3 123.5 372.1 674.0 3.5 3.0 3.1 3.9 3.4 3.1 4.2 4.2 3.5 3.0 3.2 4.4 3.6 PHI LADE LPHI A CLEVELAND 485 .8 24.3 80. 1 14.2 23.1 39.3 413.8 15.9 67.9 10.6 1066.C 60.2 436.3 30 .6 60. 1 NOV 296.9 11.4 147.1 2.3 DEC 404.2 22.6 166.6 1968 JAN 734.6 25.9 FEB 68.5 MAR JUL OR LATER TOTAL * AVERAGE MATURITY IN MONTHS 3/ 1/ SEE T E C H N I C A L A P P E N D I X 2/ TECHNICAL ISSUED IN DENOMINATIONS A P P E N D I X ft. * DETAILS MAY NOT ADD RICHMOND ATLANTA CHICAGO A. INCLUDES O N L Y C E R T I F I C A T E S 3/ SEE NEW YORK TO T O T A L S CUE TO R O U N D I N G . OF $100,000 OR M O R E BY WEEKLY REPORTING BANKS. T A B L E 6C 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 WEEKLY R E P O R T I N G BANKS BY F E D E R A L R E S E R V E DISTRICT AS OF 26 JUL (PERCENTAGE CCS MATUR ING IN ALL DISTRICTS BOSTON NEW YORK 1/ 1967 DISTRIBUTION) PHILADELPHIA CLEVELAND 3.7 4.6 3.2 2.4 3.4 4.4 RICHMOND ATLANTA CHICAGO ST. SAN FRAN- MINNE- KANSAS 3.4 4.6 5.3 3.1 5.6 AUG 20.5 21.7 20.8 22.9 18.7 17.2 22 .2 18.5 21.3 22.6 21.7 21.7 SEP 20.3 2 0.2 16.7 22.8 16 .0 16.8 24.6 17.4 16.8 18.1 21. 9 21.9 17.6 OCT 23.1 13.8 18.2 13.8 15.3 12.0 15.7 13.9 13.0 12.9 15.4 17.2 15.1 NOV 12.2 6.5 7.6 6.2 5.8 7.6 6.6 6.5 6.6 7.6 6.4 8.6 5.4 DEC 6.3 10.6 9.7 11.2 9.8 9.9 14. 1 7 .4 11.4 13.2 10.4 8.9 8.4 1968 JAN 10.4 8.5 6.5 8.5 4.5 7. 1 7. I 9.1 9.6 9.5 1 3. 1 5. 7 12.6 FEB 8.1 2.4 2.2 1.7 0 .9 2. 1 4.4 3.4 4.1 4.9 1.3 1.5 2.2 MAR 2.9 2.9 2. 8 2.8 5.1 1.6 3.3 4.1 3.3 4.0 0.6 1.7 3. 1 APR 3.1 2.4 2.2 2.4 1.8 3.3 0.9 1.8 2.8 1.6 1.9 2.9 MAY 2.4 2.3 1.6 0.9 1.7 1.2 1.3 0.3 1.2 2.1 1.1 0.6 0.2 1.3 J UN 1.7 1.9 3.4 1.5 3.6 1.1 0.9 3.0 2.6 1.1 0. 7 2.0 1.7 JUL 2.2 1.4 0.8 I .0 1.5 1.8 C.l 1 .9 1.7 0. 8 0.1 2.0 2.8 AUG OR LATER 2.1 3.3 3.6 1.8 6.8 13.5 2.3 4.7 3.0 0.5 0.6 0.3 2.8 2.8 100.0 1 CC.O 100.c 100.0 100.0 100.0 100. n 100.0 TOTAL * 1/ INCLUDES O N L Y C E R T I F I C A T E S I S S U E D IN DENOMINATIONS OF $ 1 0 0 , 0 30 OR M O R E BY WEEKLY R E P O R T I N G BANKS TABLE 6 0 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 WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 26 JUL (CUMULATIVE CD'S M A T U R I N G IN ALL 01 sTRICTS BOSTON 4.C 3.6 AUG 24.5 25.3 SEP 44.7 OCT NEW YORK 1/ 1967 PERCENTAGE! PHILADELPHIA CLEVELAND 4.6 3.2 2.4 3 .4 24.5 27.5 21.9 19.6 42.0 4 7.3 43.5 38. 7 58.5 6C.2 61 .1 58.9 NOV 65.0 67.8 67.3 DEC 75.6 77. 5 1968 JAN 84.1 FEB RICHMON D ATLANTA CH1 CAGO SAN ERA N— ST. LOUT S MINNEA POLI S KANSAS CITY 4.4 3.4 4.6 5.3 25.6 22.9 24.7 27.2 2 7.0 24.8 25.9 44.2 ,4 3 .0 39.7 42.8 49. 1 48.9 42.4 46.r 50.7 59.9 56.9 52.7 55.7 64.5 66.1 57.5 58 .2 64.6 58. 3 66.5 63.4 59 .3 63. 3 70.9 74. 7 62 .9 64.5 78.5 74.4 68.2 80.6 70.8 70.7 76.5 81.3 83.6 71.3 74.9 84.0 87.0 78.9 75.3 87.7 79.9 80.3 86.0 94.4 89. 3 83.9 83.0 86.5 86.2 88. 7 79.8 77.4 *2.1 83.3 84.4 90.9 95.7 90.8 86. 1 85.9 *AR 89.4 89.0 91.5 84.9 79.0 95.4 87.4 87.7 94,9 96.3 92.5 89.2 89.C APR 91.8 91.2 93.9 86.7 82.3 96.3 89.2 90.5 96.5 98.2 95.4 91.6 9 1.3 HAY 93.4 92.1 95.6 37 .9 9 3.6 96.6 90.4 92 . 6 97.6 93. 8 95. 6 92.9 93.r J UN 95.3 95.5 97. 1 91.5 84.7 97.5 93.4 95.2 93.7 99.5 97. 6 94.6 95.2 JUL 96.7 96.3 98.1 93.0 86.5 97.6 95.3 96. 9 99. 5 99.6 99.6 97.4 97.3 100.0 100.0 100.0 100. 0 100.0 100 .0 100 .0 100.0 100.0 100.0 1967 JUL 26—J UL AUG OR LATER 31 1/ INCLUOfcS O N L Y C E R T I F I C A T E S 3. 7 ISSUED IN O E N O M I N A T I U N S OF $ 1 0 0 , 0 0 0 OR MORE OY WEEKLY R E P O R T I N G R A N K S . DALLAS 3. 1 5.6 TABLE 6 E 1/ SALES CF NEGOTIABLE 1 i ME C E R T I F I C A T E S OF DEPOSIT WEEKLY REPORTING BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 26 JUL * 2/ SINCE P R E V I O U S MONTH ' 1967 (PERCENTAGE D I S T R I B U T I O N ) CD'S MATUR ING IN ALL DISTRICTS BOSTON 1967 AUG 22.6 33.6 23.2 20. 1 21.8 22.6 17.0 SEP 15.6 13.8 19.7 13.1 IB. 5 16.9 OCT 21 .3 21.1 2 0.8 2 5.3 16.3 NOV 5.9 4.0 7.0 1.9 DEC 8.1 7.9 7.9 1968 J A N 14.7 9.1 FEB 1.4 MAR TOTAL 1/ SFF 2/ ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 16.6 30.2 23. 9 24. 1 18.3 25.4 11.8 8.2 10.7 18.7 10.6 8.6 15.3 24.2 26.4 22.8 17. 7 27.8 31. 5 24.2 19.9 9.9 0.5 1.6 5.9 3.4 10.0 1.2 4.4 15.2 10.7 10. 2 3.0 10.9 3.2 5.2 3.6 4. 7 7.4 13.4 9.8 12.9 23.7 20.6 15.1 21.1 15.1 11.8 23.5 15.9 C. 8 1.2 0.8 1.0 0.2 3.6 2.4 3.4 C. 8 0.3 2.4 0.7 2.0 2.7 1.8 1.4 0.9 0.0 1 .6 4.7 0.0 1.0 0.2 1 .4 1.3 APR 2.2 1.9 1.9 0.7 2,0 0.5 1.7 4.3 0.0 1.0 0.7 3.1 2.1 MAY o.t> 0.7 0.7 0.7 0.3 0.0 0.4 0.2 0.0 0.2 0.0 0.3 0.5 J UN 1.2 2.2 0.5 1.9 1.9 1.3 5 .5 1.2 3.2 0.6 0.7 1.8 1.8 JUL OR L A T E R 4.4 7.2 1.9 9.0 4.6 0. 6 6.7 6.4 4.6 2.4 6.3 10.4 6.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.C * TFCHNICAL APPcNOIX SALES PHILADELPHIA CLEVELAND RICHMONO ATLANTA ISSUED IN D E N O M I N 6 T I C N S OF $ 100,000 OR MORE IN THIS TABLE ARE NOT A D J U S T E D FOR CD'S THAT HAVE M A T U R E D . * D E T A I L S M A Y NOT A D D TO TOTALS DUE CH1 — CAGO 7. 1 A. INCLUDES O N L Y C E R T I F I C A T E S NOTE - NEW YORK TO R O U N D I N G . BY WEEKLY R E P O R T I N G B A N K S . 0 TECHNICAL APPENDIX A DERVIATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are 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 last 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 on outstandings 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 currect 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 compatibility 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.
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