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L.4.1(731) NOT FOR PUBLICATION January 19, 1983 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE COMMERCIAL BANKS as of December 29, 1982 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 MATURITY DISTRIBUTION OF OUTSTANDING AND AT SALES OF NEGOTIABLE LARGE C O M M E R C I A L BANKS AS O F DECEMBER 29, TIME C E R T I F I C A T E S OF DEPOSIT 1/ 1982 1 AMOUNTS IN MILLIONS OF DOLLARS) 1 CD'S MATURING IN A M 0 U 1 I 1 1 TOTAL N T 1 | 0 U T S T A N D I N G 1 1 1 NEW YORK I CITY 1 OUTSIDE 1 1 NEW YORK CITY I | | 1 SALES TOTAL SINCE 1 1 I NEW 1 PREVIOUS YORK 1 1 1 1 LUISlDb 1 NfcW Y O R K C I T Y 1 i PERIOD 1 I CITY . | 1 6,144 1,591 4,553 56,195 16,562 39,634 24,933 6,315 lb,o!6 FEBRUARY 22,963 6,827 16,136 9,898 2,702 7,19o MARCH 12,680 3,192 9,488 APRIL-JUNE (4-6 M O N T H S ) 17,963 6 , 2 57 11,706 JULY-DECEMBER (7-12 M O N T H S ) 4,278 493 3,785 OVER 7,057 691 6,366 127,280 35,612 91,667 47,818 13,551 ^4,^67 MARCH-JUNE (3—6 M O N T H S ) 30,643 9,449 21,194 11,702 4,375 7,j»27 B E Y O N D JUNE (OVER 6 M O N T H S ) 11,335 1,184 10,151 1,285 160 1,12 5 M A R C H 15 TAX M A T U R I T Y 859 182 678 AVERAGE MATURITY (IN M O N T H S ) 3/ 2.4 2,0 2,6 2.4 2.6 2.3 1982 DECEMBER 30-31 1983 JANUARY 12 M O N T H S TOTAL 12,987 2/ 4,534 2/ b ,4b 3 * / MEMORANDUM: 1/ 2/ 3/ I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T IN D E N O M I N A T I O N S OF $ l o 0 , 0 0 0 OR M O R E I S S U E D bY B A N K S HI in D O M E S T I C A S S E T S OF $ 1 B I L L I O N OR M O R E A S OF D E C E M B E R 31, 1 9 7 7 . SALES WITH M A T U R I T I E S B E Y O N D SECOND M O N T H . F O R M U L A S F O R C A L C U L A T I O N OF A V E R A G E M A T U R I T I E S ARE A V A I L A B L E ON R E Q U E S T F R O M THE B A N K I N G S E C T I O N , D I V I S I O N 0 = R E S E A R C H AND S T A T I S T I C S , B O A R D OF G O V E R N O R S OF T H E F E D E R A L R E S E R V E S Y S T E M . TABLE 2 MATURITY DISTRIBUTION OF O U T S T A N D I N G AND S A L E S OF N E G O T I A B L E TIME C E R T I F I C A T E S OF AT L A R G E C O M M E R C I A L AS O F D E C E M B E R 29 , BANKS DEPOSIT 1/ 1982 (PERCENTAGE DISTRIBUTION) 1 | I CD'S MATURING A M 0 U N T IN I 1 TOTAL O U T S I 1 1 | N E W YORK 1 A N D I N G I OUTSIDE 1 C I T Y | NEW Y O R K C I T Y 1 SALES 1 1 | TOTAL SINCE 1 1 1 NEW 1 PREVIOUS YORK CITY PfcklUD 1 I 1 I UUISAUFC I NEW YORK CITY 1 1 1 | 1 4.8 4.5 5.0 44.2 46.5 43.2 52.1 46.6 5*. J FEBRUARY 18.0 19.2 17.6 20.7 19.9 21.0 MARCH 10.0 9.0 10.4 APRIL-JUNE (4-6 M O N T H S ) 14.1 17.6 12.8 JULY-DECEMBER (7-12 MONTHS) 3.4 1.4 4.1 27.2 2/ 33.B OVER 5.5 1.9 6.9 100.0 100.0 100.0 100.0 100.0 100.0 24.1 26.5 23.1 24.5 32.3 21.4 8.9 3.3 11.1 2.7 1.2 3.3 .7 .5 .7 1992 DECEMBER 30-31 1983 JANUARY 12 M O N T H S TOTAL 2/ 24.7 C/ MEMORANDUM: MARCH-JUNE (3-6 M O N T H S ) BEYOND JUNE (OVER 6 M O N T H S ) M A R C H 15 TA¥ M A Titer TV 1/ 2/ I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T 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 D O M E S T I C A S S E T S OF $ 1 B I L L I O N OR M O R E A S OF D E C E M B E R 31» 1 9 7 7 . SALES WITH M A T U R I T I E S BEYOND SECOND M O N T H . ISSUED BY B A N K S WITH TABLE 3 MATURITY D I S T R I B U T I O N OF O U T S T A N D I N G A N D AT S A L E S OF LARGE COMMERCIAL AS OF D E C E M B E R 29, ( A M O U N T S IN M I L L I O N S A M O U N T CD'S MATURING TOTAL BANKS T I M E C E R T I F I C A T E S OF SIZE $1-5 BILLION DEPOSIT 1/ 1982 QF_QQLLARS). SALES O U T S T A N D I N G BANK IN NEGOTIABLE SINCE PREVIOUS BANK (ASSETS) I | | PERIOB SIZE (ASSETS) \ S5 BILLION AND OVER TOTAL $1-5 BILLION I | | L >B B1LL1UN AND UVFCR 6,144 2,703 3,441 56,195 25,059 31,136 24,933 13,046 FEBRUARY 22,963 9,637 13,326 9,89* 5,277 MARCH 12,680 4,832 7,849 APRIL-JUNE (4-6 M O N T H S ) 17,963 5,015 12,948 JULY-DECEMBER (7-12 MONTHS) 4,278 1,652 2,626 OVER 7,057 1,816 5,241 127,280 50,713 76,566 47,818 23,0*0 24,728 MARCH-JUNE (3-6 M O N T H S ) 30,643 9,847 20,796 11,702 4,133 7,boS> BEYOND JUNE (OVER 6 M O N T H S ) 11,335 3,468 7,866 1,285 633 652 M A R C H 15 TAX M A T U R I T Y 859 336 524 AVERAGE MATURITY (IN M O N T H S ) 3/ 2.4 2.0 2.7 2.2 2.7 19*2 DEC6MRFR 30-31 1983 JANUARY 12 M O N T H S TOTAL 12,987 2/ 4,766 ll,bbt> f ,621 2/ e,22i z/ MEMORANDUM: 1/ 2/ 3/ 2.4 I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M U R E I S S U E D BY B A N K S W I T H D O M E S T I C A S 5 F T S OF $1 P I L L I O N OR M O R E AS OF D E C E M B E R 3 1 , 1 9 7 7 . SALES WITH M A T U R I T I E S BEYOND SECOND M O N T H . F O R M U L A S FOR C A L C U L A T I O N OF A V E R A G E M A T U R I T I E S ARE A V A I L A B L E O N R E Q U E S T F R O M THE B A N K I N G S E C T I O N , D I V I S I O N OF R E S E A R C H A N D S T A T I S T I C S , B O A R D OF G O V E R N O R S OF T H E F E D E R A L R E S E R V E S Y S T E M . 1 I | I 1 TABLE * MATURITY D I S T R I B U T I O N OF O U T S T A N D I N G A N D S A L E S 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 AT LARGE COMMERCIAL BANKS AS OF 1 CD'S MATURING IN 1/ 1962 lE£S&EalA6E DISTRIBUTION) 0 U T S A M O U N T 1 I 1 1 1 1 1 DECEMBER 29, UfcPOSII 1 BANK T A N D I N G TOTAL 1 1 1 1 SI - 5 (ASSETS) SIZE 1_ BILLION 1 1 1 | \ 1 | 1 I SALES SINCE PREVIOUS BANK BILLION A N D OVER 1 I 1 TOTAL $1-5 BILLION 1 (ASSETS) SUFC , $5 1 PERIOD 1 I I J $5 blLLIUN ANU G V E K 4.8 5.3 4.5 44.2 49.4 40.7 52.1 56.5 46.1 FEBRUARY 18.0 19.0 17.4 20.7 22.9 18.7 MARCH 10.0 9.5 10.3 APRIL-JUNE (4-6 M O N T H S ) 14.1 9.9 16.9 JULY-DECEMBER (7-12 M O N T H S ) 3.4 3.3 3.4 2 7 . 2 2/ 20.6 2/ 33.3 OVER 5.5 3.6 6.8 100.0 100.0 100.0 100.0 100.0 100.u 24.1 19.4 27.2 24.5 17.9 30.6 8.9 6.8 10.3 2.7 2.7 2.6 .7 .7 .7 1982 DECEMBER 30-31 1983 JANUARY 12 M O N T H S TOTAL MEMORANDUM: MARCH-JUNE (3-6 M O N T H S ) BEYOND JUNE (OVER 6 M O N T H S ) M A R C H 15 TAX M A T U R I T Y 1/ 2/ I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T D O M E S T I C A S S E T S OF $1 B I L L I O N OR M O R E AS OF SALES WITH M A T U R I T I E S BEYOND SECOND M O N T H . IN D E N O M I N A T I O N S OF D E C E M B E R 31, 1 9 7 7 . $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY B A N K S W I T H 2/ _i 1 1 1 1 1 I TABLE 5 MATURITY 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 AT LARGE COMMERCIAL BANKS IZ DEPOSIT BY FEDERAL RESERVE DISTRICT AS OF D E C E M B E R 2 9 , 1 9 8 2 CD'S M A T U R I N G IN 1 1 1 | 1 1 BOSTONI | ! 1 1 ALL DISTRICTS ( A M O1W U1N I OANWMW S OF D O L L A R S ) I IILALkb 1.T1SJ IN A 11 M 1 1 1 1 1 1 1 1 1 1 1 1 ST. NEW | PHILA-I C L E V E - I R I C H ATLANTA|CHICAGOl LOUIS LAND | MOND YORK | D E L P H I A I I 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 SAN 1 I MINNE-I KANSASl C1IY | DALLAS! F R A N 1 APULISI 1 CISCO I 1 1 1 i L 1. 6t 144 397 1,876 155 501 157 142 709 61 8b lt>u 64U 1,250 56,195 3,130 18,953 1,159 2,687 2,040 830 7,330 340 613 1,416 7,68<* 9,30b FEBRUARY 22,963 960 7,770 495 1,586 758 365 3,029 294 337 t>8 1 2,360 4 , 32 fa MARCH 12,660 391 3,677 173 894 399 185 1,534 104 65 274 1,153 3,*33 APRIL-JUNE (4-6 M O N T H S ) 17,963 293 6,890 148 1,237 368 179 1,659 147 155 460 1,271 >,155 JULY-DECEMBER (7-12 M O N T H S ) 4, 278 128 631 29 296 77 36 493 46 139 13c 36 L 1,*97 OVER 7,057 130 780 85 272 53 92 391 86 409 119 325 4,315 127,280 5,429 40,576 2,245 7,474 3,853 1,827 15,146 1,597 1, b 0 3 3,240 14,005 30,054 MARCH-JUNE (3-6 M O N T H S ) 30,643 684 10,567 321 2,131 767 363 3,193 251 220 7d<t 2,424 b , 9 bo BEYOND JUNE (OVER 6 M O N T H S ) 11,335 258 1,411 114 566 130 128 884 131 543 258 M A R C H 15 TAX MATURITY 8 59 22 209 7 47 64 20 144 8 3 <15 AVERAGE MATURITY (IN M O N T H S ) 2/ 2,4 1.6 2.0 1.7 2.4 1.7 2.1 2.0 2.1 4.5 NUMBER 128 9 19 7 11 13 10 15 5 3 1982 DECEMBER 30-31 1983 JANUARY 12 M O N T H S TOTAL MEMORANDUM: 1/ 2/ OF BANKS I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M U R E I S S U E D BY B A N K S D O M E S T I C Ac. F TS OF $1 B I L L I O N OR M O R E AS OF D E C E M B E R 31, 1 9 7 7 . W F I G H T I N G P R O C E D U R E IS THE S A M E AS T H A T U S E D FUR ' T O T A L ' O U T S T A N D I N G S C O L U M N IN T A B L E 1. WITH t> 6,Z1Z to Z'tL 1.7 3.S e 23 TABLE 6 MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE AT L A R G E C O M M E R C I A L B A N K S 1/ OF DEPOSIT BY FEDERAL R E S E R V E DISTRICT DECEMBER 29, AS OF TIME C E R T I F I C A T E S 1982 •1££&££MIAGE.DISTRIBUTION) CD'S M A T U R I N G IN ALL DISTRICTS BOSTON NEW YORK I I I t i l l I PHILA-I CLEVE-I R I C H I D E L P H I I LAND I MONO I I I L I I H3 . b 56.3 30.9 lb.7 21..u lo. V 14.4 6.5 3.6 t .4 b.2 iZ.7 11.0 9,2 6.6 14.2 9.1 17.1 2.0 3.3 2.9 7.7 4.3 2.b 6. j 1.4 5.0 2.6 5.4 22.7 3.7 2 .3 14.3 100.0 100,0 100.0 100.0 100.0 100.0 100.0 lOu.O 100.0 14.3 28.5 19.9 19.9 21.1 15.7 12.2 17.3 29.9 3.5 5.1 7.6 7.0 5.8 8.2 30.4 4.9 Z0.7 .5 .3 .6 1.1 1.0 .5 .2 48.4 52.6 34*0 19.7 20.0 20.0 18.4 12.0 10.4 10.1 10.1 6.6 16.6 9.6 9.8 1.6 1.3 4.0 2.0 2.4 1.9 3.8 3.6 100.0 100.0 100.0 100.0 24.1 12.6 26.0 8.9 4.8 .7 .4 JANUARY 44.2 57.7 46.7 51.6 36.0 53.0 FEBRUARY 18.0 17.7 19.2 22.1 21.2 MARCH 10.0 7.2 9.1 7.7 APRIL-JUNE (4-6 MONTHS) 14.1 5.4 17.0 JULY-DECEMBER (7-12 M O N T H S ) 3.4 2.4 OVER 5.5 TOTAL CO 45.4 4.1 4.6 L 4.2 6.7 12 M O N T H S J I I I SAN I hkANI CISCO 4.6 4. 7 6.9 1983 L I 5.1 4.6 30-31 ST. LOUIS I I I I I I | MINNE-I K A N S A S I I APOLISI CIIY | DALLAS I I I 4.7 7.3 DECEMBER | (ATLANTA C H I C A G O I —1 4.8 19*2 I MEMORANDUM; MARCH-JUNE (3-6 M O N T H S ) B E Y O N D JUNE (OVER 6 M O N T H S ) M A R C H 15 TAX M A T U R I T Y 1/ I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T D O M E S T I C A S S E T S OF $i B I L L I O N OR M O R E AS OF 1.7 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 D E C E M B E R 31, 1 9 7 7 . ISSUED BY B A N K S WITH b.o •b •3 .9 TABLE 7 S A L E S 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 M O N T H AT L A R G E C O M M E R C I A L B A N K S 1/ BY F E D E R A L R E S E R V E D I S T R I C T AS O F CD'S 1963 MATURING IN 1 I 1 I I 1 JANUARY FEBRUARY M A R C H OR LATER TOTAL ALL DISTRICTS 1 1 I 1 | | BOSTON| 1 1 1 1 DECEMBER 29. 1982 i»wr J. AO!rfVll 4 A—JLUL. 1 1 1 1 1 1 NEW | PHILA-I CLEVE-I R I C H LAND | MOND YORK IDELPHIAI 1 1 1 1 1 1 thflQJ * 1 1 1 1 ST. 1 1 ATLANTA|CHICAGO| LOUIS 1 1 1 1 1 1 1 1 t 1 1 1 SAN | M1NNE-) KANSAS| 1 CITY 1 DALLAS| F R A N 1 APULISI 1 1 CISCO 1 1 1 1 1 1 24,933 1,936 7,367 523 1,180 1,043 400 3,490 445 157 b?2 4,627 3,092 9,898 580 3,127 263 886 364 206 1,189 123 180 44U 1,332 1,20b 12,987 398 5,030 177 760 302 233 1,483 62 388 1,21/ 2,664 47,818 2,914 15,523 963 2,825 1,710 840 6,162 630 411 1,500 7,177 7,163 11,702 348 4,871 170 668 311 172 1,364 57 35 36b 1,017 2,3cb 1,285 50 159 7 91 -8 61 119 4 39 201 539 2.4 1.8 2.5 2.0 2.5 1.9 2.7 2.2 1.6 2.7 2.0 3.1 MEMORANDUM: MARCH-JUNE (3-6 M O N T H S ) BEYOND JUNE (OVER 6 M O N T H S ) AVERAGE MATURITY (IN M O N T H S ) 3/ 1/ 2/ 3/ 1 I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T 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 B A N K S W I T H D O M E S T I C A S S E T S OF $ 1 B I L L I O N OR M O R E AS OF D E C E M B E R 31, 1 9 7 7 . D E T A I L S M A Y NOT A D D T O T O T A L S D U E TO R O U N D I N G . N E G A T I V E V A L U E S , FOR S O M E D I S T R I C T S , S O M E T I M E S R E S U L T F R O M T H E P R O C E D U R E T H A T E S T I M A T E S S A L E S FUR THE 7 T H M O N T H O F THE T O T A L O F 7 - 1 2 M O N T H M A T U R I T I E S O F T H E P R E V I O U S S U R V E Y . T H E S E E S T I M A T E S A R E B A S E D O N A R A T I O O F THE 7 T H M O N T H TO THE T O T A L OF 7 - 1 2 M O N T H S F O R A L L R E P O R T E R S R A T H E R T H A N F O R THE I N D I V I D U A L D I S T R I C T S . W E I G H T I N G P R O C E D U R E IS T H E S A M E AS T H A T U S E D FOR • T O T A L • S A L E S C O L U M N IN T A B L E 1 . Zi> 2/ 2.4 TABLE 8 S A L E S 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 M O N T H A T L A R G E C O M M E R C I A L B A N K S 1/ BY F E D E R A L R E S E R V E D I S T R I C T AS OF DECEMBER 29, 1982 IPFBr.FNTAKP D I S T R I B U T I O N ! CD'S MATURING IN ALL DISTRICTS BOSTON NEW YORK I I I I I I I PHILA—I CLEVE-I RICH|DELPHIAI LAND I MONO I I I L oo 56.6 70.7 36.2 44.6 64.5 43.t 31.4 21.3 24.6 19.3 19.5 43.8 29.3 16.6 16 .9 18.4 26.9 17.7 27.8 24.1 9.8 Iti.U 25.9 17.0 *0.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100. u 100.0 11.9 31.4 17.6 23.7 18.2 20.5 22.1 9.1 6.4 24.3 14.2 32.5 1.7 1.0 .8 3.2 —• 5 7.3 1.9 .7 9.6 1.6 2.6 7.5 66.4 47.5 54.3 FEBRUARY 20.7 19.9 20.1 27.3 27.2 13.7 32.4 100.0 100.0 24.5 2.7 TOTAL _L 47.7 52.1 LATER ST. LOUIS I I I I I I SAN I UALLAS I F R A N I I CISCO _L 61.0 JANUARY M A R C H OR CHICAGO 1 4" 1983 J ATLANTA I I I I I MINNE-l KANSAS I APOLISl CITY I I MEMORANDUMS MARCH-JUNE (3-6 M O N T H S ) BEYOND JUNE (OVER 6 M O N T H S ) 1/ I N C L U D E S N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 UR D O M E S T I C A S S E T S OF $ 1 B I L L I O N OR M O R E AS OF D E C E M B E R 31, 1 9 7 7 . DETAILS MAY NOT ADD TO T O T A L S D U E TO R O U N D I N G . MORE ISSUED BY B A N K S W I T H
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