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L.4.1 CONFIDENTIAL (FR) August 2, 1977 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE WEEKLY REPORTING BANKS as of June 29, 1977 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT AT WEEKLY REPORTING BANKS A S OF 2 9 J U N CD'S M A T U R I N G AMOUNT ( M I L L I O N S OF DOLLARS) IN 1977 JUNE 30 1977 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2/ ( M I L L I O N S OF D O L L A R S ) 1,830.8 2.9 2.9 .0 JULY 19,319.1 30.2 33.1 8,757.9 AUGUST 11,596.0 18.1 51.2 3,517.2 SEPTEMBER 7,601.8 12.2 63.4 3,132.0 OCTOBER 4,806.9 7.5 70.9 608.6 NOVEMBER 5,007.1 7.8 78.7 1,566.8 DECEMBER 4,764.4 7.4 86.1 3,500.6 1,497.6 2.3 88.4 417.7 555.8 .9 89.3 83.9 MARCH 1,030.1 1.6 90.9 215.2 APRIL 636.0 1.0 91.9 69.4 MAY 475.2 .7 92.6 123.5 963.5 3/ 1978 J A N U A R Y FEBRUARY JUNE OVER 12 M O N T H S TOTAL 757.8 1.2 93.8 3,891.1 6.1 100.0 XXX 63,969.6 100.0 XXX 22,956.3 (MEMORANDUM: SEPTEMBER SEPTEMBER 10 15 1/ INCLUDES 2/ SEE 3/ S A L E S OF C D ' S 595.2 847.8 ONLY CERTIFICATES TECHNICAL APPENDIX IN D E N O M I N A T I O N S OF A. MATURING AFTER 11 M O N T H S . TAX AND DIVIDEND MATURITIES) .9 1.3 $100,000 OR MORE XXX XXX I S S U E D BY WEEKLY REPORTING BANKS. 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 O F 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 N E W Y O R K C I T Y , C H I C A G O , A N D 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 A S OF 2 9 JUN AT 1977 IIN M I L L I O N S OF D O L L A R S ) NEW YORK CITY AMOUNT C D ' S M A T U R I N G IN 1977 JUN 1978 30 CHICAGO SALES SINCE PREVIOUS MONTH AMOUNT 2/ ALL OTHER W E E K L Y R E P O R T I N G B A N K S SALES SINCE PREVIOUS MONTH AMOUNT 2/ SALES SINCE PREVIOUS MONTH 515.4 .0 97.9 .0 1,217.5 .0 JULY 4,984.6 1,976.5 3,121.4 1,150.9 11,206.1 5,623.5 AUGUST 4,148.6 1,161.6 1,536.0 498.6 5,901.9 1,847.5 SEPTEMBER 2,662.5 977.7 833.3 423.7 4,299.9 1*724.5 OCTOBER 1,8 7 8 . 1 172. A 441.7 28.9 2,485.1 404.8 NOVEMBER 1,869.1 545.6 468.6 179.7 2,668.3 640.5 DECEMBER 1,939.8 1,700.2 306.2 211.4 2,509.0 1,579.5 521.4 164.9 104.1 4.0 862.1 239.0 JANUARY 94.5 2.7 75.2 4.2 384.1 75.0 MARCH FEBRUARY 3&0.9 83.0 77.6 7.8 611.6 124.4 APRIL 217.4 21.7 25.0 .3 393.6 47.5 99.5 25.2 43.4 6.0 332.3 92.3 56.2 59.1 374.8 450.8 MAY JUNE OVER 326.7 12 M O N T H S TOTAL N U M B E R OF * REPORTING 452.2 /3 1,138.7 XXX 20,737.2 7,284.1 BANKS 10 15 XXX 1,975.6 XXX 7,962.0 2,574.6 35,221.9 13,049.3 11 TAX CERTIFICATES 2/ S E E T E C H N I C A L APPENDIX 3 / S A L E S OF MATURING AFTER * T O T A L S MAY NOT ADD DUE IN D E N O M I N A T I O N O F A. TO 11 M O N T H S . ROUNDING. 213 AND DIVIDEND MATURITIES) 188.5 283.6 1/ INCLUDES ONLY CD'S 77 5 . 4 10 1 MEMORANDUM: SEPTEMBER SEPTEMBER /3 355.0 483.8 51.7 80.5 $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS, /3 T A B L E 2B 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 NEW YORK C I T Y , C H I C A G O , A N D ALL AS OF 29 J U N 1977 OTHER C E R T I F I C A T E S OF D E P O S I T A T WEEKLY AND 25 MAY REPORTING BANKS 1977 (PERCENTAGE DISTRIBUTION) NEW YORK CITY vu-a nMivnino in 25 M A Y 29 JUN 0-6 DAYS 2/ ALL CHICAGO 29 J UN 2 5 MAY 2.5 5.4 1.2 6.0 3.5 6.4 24.0 34.0 39.2 23.6 31.8 30.9 20.0 14.1 19.3 26.2 16.8 16.7 03 MONTHS 12.8 14.0 10.5 13.8 12.2 12.1 04 MONTHS 9.1 7.9 5.5 5.4 7.1 7.7 05 MONTHS 9.0 6.0 5.9 5.5 7.6 6.2 06 MONTHS 9.4 6.2 3.8 3.6 7.1 5.5 07 MONTHS 2.5 1.1 1.3 1.3 2.4 2.8 06 M O N T H S .5 1.7 .9 1.3 1.1 1.9 09 MONTHS 1.6 .4 1.0 .9 1.7 .9 10 M O N T H S 1.0 1.2 .3 .9 1.1 1.5 11 M O N T H S .5 .9 .5 .3 .9 1.0 12 M O N T H S 1.6 .3 .7 .5 1.1 .7 5.5 4.7 9.7 10.3 5.6 5.7 100.0 100.0 100.0 100.0 100.0 100.0 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 D E N O M I N A T I O N S O F $100,000 OR MORE I S S U E D BY W E E K L Y R E P O R T I N G 2 / N U M B E R OF D A Y S R E M A I N I N G I N S U R V E Y M O N T H . T H I S P E R I O D V A R I E S W I T H T H E N U M B E R F O L L O W I N G T H E L A S T W E D N E S D A Y OF T H E M O N T H . 3/ N U M B E R TOTALS 25 MAY 29 J U N 02 MONTHS 01 M O N T H S 3/ * OTHER OF M O N T H S F O L L O W I N G MAY NOT A D D DUE TO THE SURVEY MONTH. ROUNDING. OF DAYS T A B L E 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE NEW YORK C I T Y , CHICAGO, A N D ALL AS OF 29 J U N OTHER T I M E C E R T I F I C A T E S OF WEEKLY 1977 AND 25 MAY DEPOSIT AT REPORTING BANKS 1977 (CUMULATIVE DISTRIBUTION) NEW YORK CITY CD'S MATURING 25 MAY 2 9 J UN 0-6 DAYS 2 / 01 CHICAGO MONTHS 3/ 02 MONTHS OTHER 29 J U N 25 MAY 29 JUN 2 5 MAY 2.5 5.4 1.2 6.0 3.5 6.4 26.5 39.4 40.4 29.6 35.3 37.3 46# 5 53.5 59.7 55.8 52.1 54.0 03 MONTHS 59.3 67.5 70.2 69.6 64.3 66.1 04 MONTHS 68.4 75.4 75.7 75.0 71.4 73.8 05 MONTHS 77.4 83.4 81.6 80.5 79.0 80.0 06 MONTHS 86.8 89.6 85.4 84.3 86.1 85.5 07 MONTHS 89.3 90.7 86.7 85.6 88.5 88.3 08 MONTHS 89.8 92.4 87.6 86.9 89.6 90.2 09 MONTHS 91.4 92.6 88.6 87.8 91.3 91.1 10 MONTHS 92.4 94.0 88.9 88.7 92.4 92.6 11 M O N T H S 92.9 94.9 69.4 89.0 93.3 93.6 12 M O N T H S 94.5 95.2 90.1 89.5 94.4 94.3 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 M O N T H S 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 IN D E N O M I N A T I O N S BANKS. O F $ 1 0 0 , 0 0 0 OR 2 / N U M B E R OF D A Y S R E M A I N I N G IN S U R V E Y M O N T H . T H I S F O L L O W I N G T H E L A S T W E D N E S D A Y OF T H E M O N T H . 3/ NUMBER OF MONTHS FOLLOWING ALL IN THE SURVEY MONTH. MORE I S S U E D BY W E E K L Y PERIOD V A R I E S WITH THE NUMBER REPORTING OF D A Y S 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 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 A T W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 2 / A S OF 2 9 J U N 1 9 T 7 ( A M O U N T S IN M I L L I O N S O F D O L L A R S ) 3A DEPOSIT 1/ $5 BILLION AND OVER C D ' S M A T U R I N G IN 1977 JUN 30 TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 B I L L I O N 116.3 214.4 1 , 8 3 0 .8 $1 B I L L I O N TO $5 B I L L I O N TOTAL NEW Y O R K CITY 792.3 462.3 330.0 6,031.2 10,388.4 4,364.2 6,024.2 3,392.2 6,627.6 3,824.3 2,803.3 686.5 2,289.4 4,390.9 2,452.2 1,938.7 365.1 1,426 * 1 2,822.6 1,701.4 1,121.2 JULY 19,319.1 1,042.9 1,856.6 AUGUST 11,596.1 585.4 990.9 SEPTEMBER 7,801.8 435.0 OCTOBER 4,806.9 193.1 707.8 NOVEMBER 5,007.1 146.2 320. 1 1,286.6 3,254.2 1,743.5 1,510.7 DECEMBER 4,764.5 135.9 355.4 1,113.0 3,160.2 1,814.1 1,346.1 1,497.5 51.2 166.9 418.5 860.9 516.2 344.7 555.8 34.6 56.4 222.7 242.1 89.4 152.7 1,030.1 34.7 80.5 350.2 564.7 284.0 280.7 129.2 1978 JANUARY FEBRUARY MARCH APRIL 636.0 28.0 56.7 225.7 325.6 196.4 MAY 475.2 29.1 73.5 188.4 184.2 95.5 88.7 JUNE 757.8 44.9 89.5 215.7 407.7 308.8 98.9 JULY OR LATER TOTAL * 3,891.2 83.4 104.5 693.6 3,009.7 1,127.9 1,881.8 63,969.9 2,960.7 5,417.0 18,561.1 37,031.1 18,980.2 18,050.9 — (MEMORANDUM: SEPTEMBER 10 595.2 29.7 SEPTEMBER 15 847.8 40.2 TAX 44.7 69.1 (MEMORANDUM: 234 73 AND D I V I D E N D M A T U R I T I E S ) 173.3 347.5 171.7 175.8 212.0 526.5 245.3 281.2 N U M B E R OF B A N K S ) 62 82 17 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 $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 2/ TOTAL ASSETS AS R E P O R T E D IN T H E C A L L R E P O R T OF C O N D I T I O N ON J U N E 3 0 , 1 9 7 5 . * OUTSIDE N E W YORK CITY TOTALS MAY NOT ADD DUE TO ROUNDING. 10 £ SALES T A B L E 3B / ! / 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 D E P O S I T S I N C E P R E V I O U S AT W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 3 / A S OF 2 9 J U N 1 9 7 7 ( A M O U N T S IN M I L L I O N S OF D O L L A R S ) MONTH 2/ $ 5 B I L L I O N A N D OVER CD'S MATURING 1977 JUN IN TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 B I L L I O N L TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 4,555.6 1,697.2 2,858.4 30 JULY 8,757.8 AUGUST 3,517.2 SEPTEMBER 3,132.0 608.5 NOVEMBER DECEMBER OCTOBER 1978 JANUARY FEBRUARY MARCH 511.4 983.0 2,707.8 198.5 334.1 1,231.6 1,753.0 1,022.0 731.0 216.2 332.6 957.7 1,625.5 917.6 707.9 37.9 76.4 255.4 238.8 142.4 96.4 1,566.9 45.0 116.4 314.0 1,091.5 480.5 611.0 3,500.6 84. 1 244.6 672.1 2*499.8 1,600.5 899.3 417.7 18.6 82.8 123.7 192.6 162.6 30.0 84.0 9.0 5.2 29.0 40 .8 2.6 36.2 215.0 5.3 22*5 74.7 112.5 56.4 56.1 69.5 8.8 9.0 28.3 23.4 19.9 3.5 MAY 123.5 6.4 17.6 47.0 50.5 24.1 26.4 JUNE OR L A T E R 963.7 58.4 106.4 233.7 565.2 439.1 126.1 22,956.4 1,201.6 2,330.6 6 ,675. 0 12,749.2 6,564.9 6,184.3 17 7 10 APRIL TOTAL * NUMBE K (MEMORANDUM: 234 1/ 2/ 3/ $ $1 B I L L I O N TO $5 BILLION S E E T E C H N I C A L A P P E N D I X A. 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 TOTAL ASSETS AS R E P O R T E D IN T H E C A L L T O T A L S M A Y N O T A D D D U E TO R O U N D I N G . 73 62 Ur DmiiM) I 82 OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . R E P O R T OF C O N D I T I O N ON J U N E 3 0 , 1 9 7 5 . 1 TABLE 3C $5 BILLION AND OVER CD'S MATURING IN TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 BILLION $1 B I L L I O N TO S5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 1.8 2.9 3.9 4.0 3.8 2.1 2.4 JULY 30.2 35.2 34.3 32.5 28.1 23.0 33.4 AUGUST 18.1 19.8 18.3 18.3 17.9 20.1 15.5 SEPTEMBER 12.2 12.9 10.7 1977 JUN 30 14.7 12.7 12.3 11.9 OCTOBER 7.5 6.5 6.7 7.7 7.6 9.0 6.2 NOVEMBER 7.8 4.9 5.9 6.9 8.8 9.2 8.4 DECEMBER 7.4 4.6 6.6 6.0 8.5 9.6 7.5 1978 JANUARY 2.3 1.7 3.1 2.3 2.3 2.7 1.9 FEBRUARY 0.9 1.2 1.0 1.2 0.7 0.5 0.8 MARCH 1.6 1.2 1.5 1.9 1.5 1.5 1.6 APRIL 1.0 0.9 1.0 1.2 0.9 1.0 0.7 MAY 0.7 1.0 1.4 1.0 0.5 0.5 0.5 JUNE 1.2 1.5 1.7 1.2 1.1 1.6 0.5 JULY OR L A T E R 6.1 1.9 3.7 8.1 5.9 100.0 100.0 100.0 TOTAL * 100.0 2.8 100.0 1MEMORANDUM: TAX 100.0 10.4 100.0 AND DIVIDEND MATURITIES) SEPTEMBER 10 0.9 1.0 0.8 0.9 0.9 0.9 1.0 SEPTEMBER 15 1.3 1.4 1.3 1.1 1.4 1.3 1.6 1/ I N C L U D E S C E R I I F 2 C A 7 E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G 2/ TOTAL ASSETS A S R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N O N J U N E 3 0 , 1 9 7 5 . * I L T A L S M A Y N O T A D D D U E TO R O U N D I N G . BANKS. •ABLE 3 0 M A T U R I T Y D I S T R I B U T I O N O F 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 AT W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 2 / A S OF 2 9 JUN 1977 CUMULATIVE PERCENTAGE 1/ $5 BILLION A N D OVER C O " S M A T U R I N G IN 1 9 7 7 JUN 1978 30 TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 B I L L I O N $1 B I L L I O N TO $5 BILLION TOTAL NEW Y O R K CITY OUTSIDE NEW YORK CITY 2.9 3.9 4.0 3.8 2.1 2.4 1.8 JULY 33.1 39.1 38.3 36.3 30.2 25.4 35.2 AUGUST 51.2 58.9 56.6 54.6 48.1 45.5 50.7 SEPTEMBER 63.6 73.6 69.3 66.9 60.0 58.4 61.4 OCTOBER 70.9 80.1 76.0 74.6 67.6 67.4 67.6 NOVEMBER 78.7 85.0 81.9 81.5 76.4 76.6 76.0 DECEMBER 86.1 89.6 88.5 87.5 84.9 86.2 83.5 JANUARY 86.4 91.3 91.6 89.8 87.2 88.9 8 5.4 FEBRUARY 89.3 92.5 92.6 91.0 87.9 89.4 86.2 MARCH 90.9 93.7 94.1 92.9 89.4 90.9 87.8 APRIL 91.9 94.6 95.1 94.1 90.3 91.9 88.5 MAY 92.6 95.6 96.5 95.1 90.8 92.4 89.0 JUNE 93.8 97.1 98.2 96.3 91.9 94.0 89.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 JULY OR LATER 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 O F $ 1 0 0 , 0 0 0 OR M O R E I S S U E D B Y 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 T H E C A L L R E P O R T O F C O N D I T I O N ON J U N E 3 0 , 1 9 7 5 . $ T O T A L S MAY NOT ADD DUE TO ROUNDING. • « S A L E S i\i TABLE 3E O F 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 S I N C E P R E V I O U S M O N T H A T W E E K L Y REPORTING B A N K S BY SIZE OF B A N K S 3/ A S OF 2 9 J U N 1 9 7 7 PERCENTAGE DISTRIBUTION 2/ $5 BILLION A N D OVER C D ' S M A T U R I N G IN 1 9 7 7 J UN TOTAL $500 MILLION AND UNDER $1 B I L L I O N TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 30 JULY 38.1 42.6 42.2 40.6 35.7 25.9 46.2 AUGUST 15.3 16.5 14.3 18.5 13.7 15.6 11.8 SEPTEMBER 13.6 18.0 14.0 11.4 14.3 14.3 12.7 OCTOBER 2.7 3.2 3.3 3.8 1.9 2.2 1.6 NOVEMBER 6.8 3.7 5.0 4.7 8.6 7.3 9.9 DECEMBER 15.2 7.0 10.5 24.4 14.5 1976 JANUARY 1.8 10.1 19.6 1.5 3.6 1.9 1.5 2.5 0.5 FEBRUARY 0.4 0.7 0.2 0.4 0.3 0.0 0.6 MARCH 0.9 0.4 1.0 1.1 0.9 0.9 0.9 APRIL 0.3 0.7 0.4 0.4 0.2 0.3 0.1 MAY 0.5 0.7 0.8 0.7 0.4 0.4 0.4 JUNE OR LATER 4.2 4.9 4. 6 3.5 4.4 6.7 2.0 100.0 100.0 100.0 TOTAL * 100.0 100.0 — 234 1/ 2/ 3/ * $500 MILLION TO $1 B I L L I O N 73 100.0 100.0 N U M B E R OF B A N K S ) IMEMORANDUM: 62 82 17 SEE T E C H N I C A L A P P E N D I X A. I N C L U D E S C E R T I F I C A T E S I N D E N O M I N A T I O N S O F $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . TOTAL ASSETS A S R E P O R T E D IN T H E C A L L R E P O R T O F C O N D I T I O N O N J U N E 3 0 , 1 9 7 5 . TOTALS MAY NOT ADD DUE TO ROUNDING. 10 T A B L E 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 1/ AT W E E K L Y R E P O R T I N G B A N K S AT V A R I O U S SURVEY DATES (IN M O N T H S I RANK f 1 ACCtCtf ATTflN DATE «-« 29 JUN OF 25 MAY 197? SURVEY 1977 2 7 APR 1977 1BY L O C A T I O N S ALL REPORTING BANKS ISSUING CD'S NEW YORK CITY 3.2 3.1 3.2 3.4 3.0 3.1 CHICAGO 3.1 3.4 3.3 OTHER 3.1 3.2 3.2 (BY S I Z E UNDER $500 MILLION 2.6 2.5 2.5 2.7 2.5 2.6 $L,000-$5,000 MILLION 2.9 3.0 3.0 OVER 3.5 3.4 3.4 3.4 3.0. 3.1 3.5 3.8 3.8 $5 BILLION IN N E W 1/ INCLUDES TOTAL CERTIFICATES ASSETS B A N K ) 2/ $500-$!T000 MILLION OUTSIDE 2/ OF YORK C I T Y NEW YORK CITY IN D E N O M I N A T I O N S OF AS R E P O R T E D IN THE CALL $ 1 0 0 , 0 0 0 OR M O R E R E P O R T OF CONDITION ISSUED BY W E E K L Y REPORTING ON J U N E 3 0 , 1975. BANKS. TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLO BY WEEKLY REPORTING bANKS DURING THE MONTH OF VARIOUS SURVEYS IIN MONTHS! BANK CLASSIFICATION DATE OF SURVEY 29 JUN 1977 25 MAY 1977 27 APR 1977 IBY LOCATION) ALL REPORTING BANKS 2.8 2.5 2.9 NEW YORK CITY 3.5 2.4 3.2 CHICAGO 2.1 2.9 2.3 OTHER 2.6 2.6 2.8 ISSUING CD'S (BY SIZE OF BANK) 2/ UNDER $500 MILLION 2.5 2.2 2.1 $500-$l»000 MILLION 2.7 2.1 2.2 $1,000-15,000 MILLION 2.5 2.6 2.5 OVER $5 BILLION 3.0 2.7 3.3 IN NEW YORK CITY 3.6 2.4 3.3 OUTSIDE NEW YORK CITY 2.5 3.1 3.3 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. NOTE—SEE TECHNICAL APPENDIX B. I TABLE 5A R A T I O OF O U T S T A N D I N G NEGOTIABLE TINE CERTIFICATES OF D E P O S I T 1/ TO TOTAL DEPOSITS AT V A R I O U S SURVEY D A T E S (PER C E N T ) D A T E OF TOTAL ASSETS 2/ M I L L I O N S OF D O L L A R S ) UN ALL BANKS CD'S 25 MAY 27 A P R 1977 ISSUING 16.8 16.9 IT.O 500 12.7 12.5 12.2 1000 13.1 13.2 13.2 13.7 13.6 13.1 20.5 20.6 19.3 22.8 24.4 23.2 18.6 17.4 16.2 5000 5000 IN N E W YORK C I T Y O U T S I D E NEW 1/ I N C L U D E S C E R T I F I C A T E S ASSETS YORK CITY IN D E N O M I N A T I O N S AS R E P O R T E D IN T H E C A L L OF $ 1 0 0 , 0 0 0 OR M O R E REPORT OF I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . CONDITION ON JUNE 30, D E P O S I T S IN T H E D E N O M I N A T O R OF T H E R A T I O I N T H I S T A B L E A R E INTERBANK AND U.S. GOVERNMENT DEPOSITS. 1977 500 - OVER NOTE- 1977 UNDER 1000 - 2/ T O T A L 29 J U N SURVEY 1975. TOTAL D E M A N D AND TIME DEPOSITS, INCLUDING TABLE R A T I O OF O U T S T A N D I N G N E G O T I A B L E 5B TIME CERTIFICATES TO T O T A L TOTAL ASSETS 2/ (IN M I L L I O N S OF D O L L A R S ) ALL BANKS ISSUING CD'S 5* OR LESS 5 TO 10* DEPOSIT 1/ DEPOSITS AS OF 2 9 J U N (NUMBER OF OF 1977 BANKS) 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CD TO DEPOSIT R A T I O (PER C E N T ) 28 16.8 48 49 42 40 27 15 7 12.7 UNDER 500 13 22 11 500 - 1000 17 11 13 9 4 13.1 18 13 16 13 13 13.7 0 3 2 3 3 20.5 0 1 0 1 3 22.6 0 2 2 2 0 18.6 1000 - 5000 OVER 5000 IN N E W YORK CITY O U T S I D E NEW 1/ I N C L U D E S 2/ TOTAL NOTE- YORK CITY CERTIFICATES ASSETS IN D E N O M I N A T I O N S AS R E P O R T E D IN T H E OF $100,000 OR MORE CALL REPORT OF ISSUED BY WEEKLY R E P O R T I N G B A N K S . CONDITION ON JUNE 30, 1975. D E P O S I T S I N T H E D E N O M I N A T O R OF T H E R A T I O I N T H I S T A B L E A R E T O T A L D E M A N D A N D T I M E D E P O S I T S , I N C L U D I N G INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE SC PER CENT C H A N G E IN 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 25 MAY 1977 TO 29 JUN (NUMBER OF D E P O S I T 1977 OF B A N K S ) D E C L I N E S OF TOTAL ASSETS I IN M I L L I O N S O F ALL B A N K S CD'S 2/ DOLLARS I RFCOUCEO CD'S TO ZERO TOT O R MORE Z1 5 TO 10% I N C R E A S E S OF 5 F OR LESS NO CHANGE 5 % OR LESS 5 TO 10% 10% OR MORE I S S U E D C D ' S BUT HAD NONE O U T S T A N D ING O N B A S E D A T E ISSUING 2 26 24 36 5 52 36 53 2 UNDER 500 0 7 5 14 4 17 7 19 0 500 - 1000 1 8 7 8 0 11 9 17 2 1 9 7 12 1 21 17 15 0 0 2 5 2 0 3 3 2 0 0 1 1 0 0 0 2 2 2 0 1000 - 5 0 0 0 OVER 5000 IN N E W OUTSIDE YORK CITY NEW YORK 1/ I N C L U D E S C E R T I F I C A T E S 5/ TOTAL NOTE- ASSETS CITY 0 2 3 0 0 0 2 2 IN D E N O M I N A T I O N S AS R E P O R T E D OF $100,000 IN T H E C A L L R E P O R T O F OR MORE I S S U E D BY WEEKLY CONDITION ON JUNE 30, REPORTING BANKS. 1975. T H E N U M B E R O F B A N K S IN T H I S T A B L E D I F F E R S F R O M T H O S E I N M O S T O T H E R T A B L E S T O T H E E X T E N T T H A T H A D O U T S T A N D I N G C D ' S O N THE LAST S U R V E Y R E D U C E D THEIR O U T S T A N D I N G S TO ZERO ON THIS S U R V E Y . BANKS THAT TABLE PER CENT C H A N G E IN O U T S T A N D I N G N E G O T I A B L E 30 MAR U N M I L L I O N S OF DOLLARS) REDUCED CD'S 251 TO OR ZERO MORE ALL BANKS ISSUING CD* 5 OF D E P O S I T /I 1977 OF B A N K S I D E C L I N E S OF 20 TO 25* 15 TO 20* 10 TO 15* INCREASE 5 TO 10* 5S OR LESS 16 20 36 1 4 5 11 2 3 7 7 9 16 UNDER 5 0 0 TIME CERTIFICATE 1 9 7 7 T O 29 J U N (NUMBER TOTAL DEPOSITS /Z SO NO CHANGE 5* OR LESS 10 5 TO 10* TO 15* OF 20 15 TO 25% OR MORE TO 25* 20* ISSUED C D ' S BUT H A D NONE OUTSTANDING ON BASE D A T E 32 26 21 15 I 10 6 4 9 2 10 1 0 7 6 6 2 3 4 2 19 0 5 500 - 1000 I 4 1000 - 5000 0 6 2 4 5 8 15 3 12 9 9 2 3 5 0 OVER 0 1 0 0 0 0 3 0 3 5 2 2 1 0 0 0 I 0 0 0 0 3 0 2 I 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 2 2 1 0 0 5000 IN NEW YORK C I T Y OUTSIDE NEW YORK CITY 1/ I N C L U D E S C E R T I F I C A T E S 2/ T O T A L NOTE- ASSETS IN D E N O M I N A T I O N S OF AS R E P O R T E D IN THE T H E N U M B E R O F B A N K S IN T H I S HAD OUTSTANDING CD'S ON THE OUTSTANDINGS TO ZERO# CALL $100,000 OR MORE REPORT OF ISSUED BY WEEKLY CONDITION ON JUNE REPORTING BANKS. 30, 1975. T A B L E D I F F E R S F R O M T H O S E IN M O S T O T H E R T A B L E S TO T H E E X T E N T T H A T B A N K S T H A T S U R V E Y T H R E E M O N T H S P R I O R TO T H E C U R R E N T S U R V E Y , R E D U C E D T H E I R TABLE SE CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 25 MAY 19TT TO 29 JUN 1977 (NUMBER OF BANKS) U N MILLIONS OF DOLLARS 1 INCREASES OF DECLINES OF TOTAL ASSETS 2/ 31 AND OVER It AND LESS 1 TO 2% 2 TO 3* ALL BANKS ISSUING CD'S NO CHANGE 58 20 1% AND LESS 71 1 TO 2% 2 TO 3% 34 UNDER 500 I I 5 19 4 23 8 500 - 1000 1 O 6 16 0 16 11 1000 - 5000 3 0 6 19 1 26 14 OVER 5000 1 1 3 4 0 4 1 1 1 0 3 0 IN NEW YORK CITY OUTSIDE NEW YORK CITY 1 0 1 2 0 1 1 3 0 23 3% AND OVER 13 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL 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 AND U.S. GOVERNMENT DEPOSITS. TABLE 5F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 30 MAR 1977 TO 29 JUN 1977 (NUMBER OF BANKS) UN MILLIONS OF DOLLARS) INCREASES OF DECLINES OF TOTAL ASSETS 2 / 5% AND OVER 4 TO 5% 3 TO 4% A L BANKS ISSUING CD'S 2 TO 3% 11 IX 1 TO 2% AND LESS NO CHANGE 11 AND UNDER 24 58 57 > C E R 500 3 6 17 18 5'u - 1000 0 6 17 16 1C00 - 5000 1 11 21 19 l v£R 5000 0 1 3 4 IN NEW YORK CITY 0 1 3 1 OUTSIDE NEW YORK CITY 0 0 0 3 1 TO 2X 25 2 TO 33 22 3 TO 4% 10 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL NOTfc— 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 AND U.S. GOVERNMENT DEPOSITS# 4 TO 5% 5% AND OVER 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 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 F E D E R A L R E S E R V E D I S T R I C T A S OF 2 9 JUN 1/ 1977 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) C D ' S M A T U R I N G IN 1 9 7 7 JUN 30 1978 ALL D1STRICTS BOSTON NEW YORK PHILAOELPHIA CLEVELAND RICHMONO ATLANTA CHICAGO SAM " ST. LOUIS MINNEAP0L1S KANSAS CITY DALLAS FRAN— CISCO 1830.9 78.1 563.1 73.5 94.6 93.6 92.8 277.7 20.8 5.8 38.2 189.0 JUL 19319.1 802.3 5604.5 773.5 1005.0 567.1 811.5 3744.4 215.5 215.5 571.9 1571.1 3436.8 AUG 11596.0 483.8 4453.6 569.1 556.9 336.2 546.6 1988.2 162.6 89.4 282.8 687.5 1439.1 SEP 7802.0 281.3 2866.7 317.3 346.2 287.7 356.4 1127.5 144.8 98.1 158.7 502.1 1315.2 OCT 4806.8 154.3 1954.3 198.7 224.0 180.2 209.7 725.3 50.8 46.8 110.3 304.5 647.9 231.8 311.4 118.2 208.0 556.8 49.2 90.6 86.3 240.7 1028.0 349.8 144.0 303.7 NOV 5007.1 134.0 1952.1 DEC 4764.3 162.8 2001.6 207.4 139.2 499.3 39.1 49.2 117.4 255.8 798.7 JAN 1497.4 55.0 537.6 98.4 57.9 28.7 87.6 140.2 23.9 49.9 64.5 77.9 275.8 FEB 555.7 12.3 108.1 29.2 22.5 10.9 31.0 94.2 13.1 12.4 24.0 O3.9 134.1 1030.1 25.6 35.8 31.8 223.4 37.2 25.0 106.3 20.9 27.9 CO MAR 30.9 386.4 378.7 APR 636.0 13.4 MAY 475.2 10.7 JUN 757.8 18.2 337.6 JUL OR LATER 3891.1 230.9 1153.7 81.0 2462.7 22241.5 2692.3 TOTAL * 63969.5 3470.3 42.4 107.1 14.2 12.6 25.4 81.3 248.3 ™ 21.3 27.4 38.7 13.7 4.9 14.1 45.7 171.2 13.4 40.8 61.8 14.5 9.4 22.3 70.9 76.3 20.4 58.5 88.8 22.0 4.3 22.0 37.1 99.5 32.7 71.1 836.2 25.3 52.6 69.4 126.6 825.2 2723.0 10286.2 809.5 741.5 1607.3 4254.1 10799.8 26.9 1881.3 AVERAGE MATURITY IN M O N T H S 2 / 3.2 3.2 3.2 2.9 3.7 2.6 2.9 2.9 3.1 3.6 3.0 2.7 3.4 N U M B E R OF R E P O R T I N G BANKS 234 14 36 10 15 19 22 35 11 5 17 22 28 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 I S S U E D 2/ SEE TECHNICAL * DETAILS M A Y NOT A D D TO T O T A L S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E BY W E E K L Y R E P O R T I N G B A N K S . A P P E N D I X B. DUE 1 0 R O U N D I N G . TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUN 1977 <AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN ALL DISTRICTS BOSTON JUL 8750.8 337.5 AUG 3507.7 SEP 3125.9 CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 340.0 1396.2 116.5 114.1 311.0 667.9 2120.1 98.5 198.1 673.1 45.8 17.3 107.0 214.4 340.8 153.6 109.7 150.3 552.0 45.6 42.7 68.9 238.3 412. PHILADELPHIA CLEVELAND 2337.5 296.6 480.7 232.7 1*7.1 1297.7 169.7 158.2 142.1 1098.7 111.1 NEW YORK RICHMOND ATLANTA OCT 606.4 32.3 203.3 18.5 26.0 38.7 16.0 113.5 8.7 7.3 22.1 31.3 88.7 NOV 1565.6 23.2 566.3 123.1 61.8 30.4 34.9 205.5 27.5 10.1 31.9 60.8 390.3 DEC 3491.1 62.9 1738.5 146.4 276.8 104.6 88.1 346.2 23.2 14.9 78.6 157.4 453.5 i<s?e jAN 407.7 6.0 171.4 41.8 24.4 16.8 40.4 10.9 15.6 6.5 29.4 24.0 20.5 FEB 81.9 1.3 3.9 17.3 6.3 1.4 5.9 6.0 1.6 2.7 8.0 4.4 23.1 6.5 7.3 19.5 1.3 3.0 6.9 TOI*L MAG 215.3 0.5 90.7 8.8 8.6 21*5 38.7 AFR 69.6 0.3 22.3 0.5 3.9 1.6 9.6 2.2 3.2 1.0 4.5 8.6 11.9 *AY 123.6 1.8 27.4 1.4 11.5 5.0 18.6 9.1 4,2 6.8 6.1 7.0 24.7 JUN OR LATER 961.8 13.2 465.2 23.3 39.0 24.5 51.2 100.2 19.6 14.5 47.9 45.7 117.5 8022.9 956.2 1251.0 672.5 960.4 3434.4 312.8 240.9 724.3 1481.3 4042.7 3.3 3.0 2.9 2.9 2.9 2.3 3.0 2.6 2.9 2.4 2.2 * 22907.6 AVERAGE MATURITY IN MGNTH? 3/ 2.8 808.2 2.0 1/ Si i- 1 6 C W 1 C A L APPENDIX A. 2/ i N C l W f S ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. SEt TECHNICAL APPENDIX B. » f/fTAILS "AY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUN 1977 I PERCENTAGE DISTRIBUTION) ALL DISTRICTS BOSTON 2.9 3.2 JUL 30.2 AUG 18.1 SEP CD'S MATURING IN MINNEAPOLIS KANSAS CITY DALLAS 2.6 0.8 2.4 4.4 2.8 36.4 26.6 29.1 35.6 36.9 31.9 19.3 20.1 12.1 17.6 16.2 13.3 13.1 11.0 17.9 13.2 9.9 11.8 12.2 9.6 7.7 7.1 6.3 6.3 6.9 7.2 6.0 9.0 6.3 7.6 5.4 6.1 12.2 5.4 5.7 9.6 CLEVELAND 2.5 2.7 2.7 5.0 3.4 2.7 32.6 25.2 28.7 29.0 30.1 29.8 19.6 20.0 21.1 16.1 17.9 20.1 12.2 11.4 12.9 11.8 10.0 15.3 OCT 7.5 6.3 8.8 7.4 6.5 NOV 7.8 5.4 8.8 8.6 1977 JUN 30 SAN FRAN-^P CISCO ST. LOUIS PHILADELPHIA NEW YORK RICHMOND ATLANTA CHICAGO DEC 7.4 6.6 9.0 7.7 10.1 7.7 5.1 4.9 4.8 6.6 7.3 6.0 7.3 1978 JAN 2.3 2.2 2.4 3.7 1.7 1.5 3.2 1.4 3.0 6.7 4.0 1.8 2.5 FEB 0.9 0.5 0.5 1.1 0.6 0.6 1.1 0.9 1.6 1.7 1.5 1.5 1.2 MAR 1.6 1.0 1.7 1.3 0.9 1.4 1.6 1.0 1.8 1.7 1.6 1.9 APR 1.0 0.5 1.0 1.4 0.7 1.1 1.0 0.4 1.7 0.7 0.9 1.1 MAY 0.7 0.4 0.5 0.8 0.8 0.7 1.5 0.6 1.8 1.3 1.4 1.7 0.7 JUN 1.2 0.7 1.5 0.7 0.9 1.1 2.1 0.9 2.7 0.6 1.4 0.9 0.9 JUL OR LATER 6.1 9.4 5.2 3.0 11.1 1.7 2.6 8.1 3.1 7.1 4.3 3.0 7.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2 - 3 i TABLE 60 MAIURITY DISTIIlBVilON OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUN 1977 (CUMULATIVE PERCENTAGE) CD*S MATURING IN 1977 JUN 30 JUL ALL DISTRICTS BOSTON 2.9 3.2 33.1 35.8 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 2.7 2.6 0.6 2.4 4.4 2.6 33.2 39.1 29.2 29.9 38.0 41.3 34,7 53.0 53.3 58.4 49.3 42.0 55.6 57.5 48.0 PMILADELPHI A CLEVBLAND 2.5 2.7 2.7 5.0 3.4 27.7 31.4 31.7 35.1 47.8 NEW YORK RICHMONO ATLANTA CHICAGO AUG 51.2 55.4 47.7 52.5 SEP 63.4 66.8 60.6 64.3 57.8 6B.3 66.4 69.4 67.2 55.2 65.5 69.3 OCT 70.9 73.1 69.4 71.7 64.3 77.9 74.1 76.5 73.5 61.5 72.4 76.5 66.2 NOV 78.7 78.5 78.2 80.3 73.3 84.2 81.7 81.9 79.6 73.7 77.8 82.2 75.8 87.2 88.0 83.4 91.9 86.8 86.8 84.4 80.3 85.1 88.2 83.1 DEC 86.1 85.1 1976 JAN 88.4 87.3 89.6 91.7 85.1 93.4 90.0 88.2 87.4 87.0 89.1 90.0 85.6 FfcB 89.3 87.8 90.1 92.B 85.7 94.0 91.1 89.1 89.0 88.7 90.6 91.5 86*8 MAR 90.9 88.8 91.8 94.1 86.6 95.4 92.7 90.1 90.8 90.4 92.2 93.4 89.1 APR 91.9 89.3 92.8 95.5 87.3 96.5 93.7 90.5 92.5 91.1 93.1 9415 90.7 MAY 92.6 89.7 93.3 96.3 88.1 97.2 95.2 91.1 94.3 92.4 94.5 96.2 91.4 JUN 93.8 90.4 94.8 97.0 89.0 98.3 97.3 92.0 97.0 93.0 95.9 97.1 92.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 JUL OR LATER 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUN 1977 (PERCENTAGE DISTRIBUTION) CO*S MATURING IN ALL 01STRICTS BOSTON JUL 38.2 41.8 AUG 15.3 SEP 13.6 NEW YORK ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 40.7 37.2 47.4 42.9 45.1 52.4 20.6 19.6 14.6 7.2 14.8 14.5 8.4 16.3 15.6 16.1 14.6 17.7 9.5 16.1 10.2 5.ti 1.7 3.3 2.8 3.0 3.1 2.1 2.2 PHILA— DELPHI* CLEVELAND RICHMOND ATLANTA 29.1 31.0 38.4 34.6 35.4 23.2 16.2 17.7 12.6 14.6 17.6 13.7 11.6 12.3 CHI— CAGO OCT 2.6 4.0 2.5 1.9 2.1 NOV 6.8 2.9 7.1 12.9 4.9 4.5 3.6 6.0 8.8 4.2 4.4 DEC 15.2 7.8 21.7 15.3 22.1 15.6 9.2 10.1 7.4 6.2 10.9 10.6 11.2 1978 JAN 1.8 0.7 2.1 4.4 2.0 2.5 4.2 0.3 5.0 2.7 4.1 1.6 0.5 0.4 0.2 0.0 1.6 0.5 0.2 0.6 0.2 0.5 1.1 1.1 0.3 0.6 1.2 1.2 1.5 i ' # FEB 4. 1 9.7 MAR 0.9 0.1 1.1 0.7 0.7 1.3 0.8 0.6 0.4 APR 0.3 0.0 0.3 0.1 0.3 0.2 1.0 0.1 1.0 0.4 0.6 0.6 0.3 MAY 0.5 0.2 0.3 0.1 0.9 0.7 1.9 0.3 1.3 2.8 0.8 0.5 0.6 JUN OR LATER 4.2 1.6 5.8 2.4 3.1 3.6 5.3 2.9 6.3 6.0 6. 6 3.1 2.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDE5 ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. 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 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 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 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 d a t e — a r e 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. are weighted averages calculated That is, they 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.
@FedFRASER