The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
January 29, 1969, L.4.1 CONFIDENTIAL (FR) ( ^ Ct ^ n . r^,x.C' e M 8 6 C\V<' 1 "0> Resc ftrc? # SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF December 25, 1968 # Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE I 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 AT W E E K L Y R E P O R T I N G BANKS AS OF 25 DEC CD" S M A T U R I N G AMOUNT (MILLIONS OF DOLLARS) IN 1968 PERCENTAGE DISTRI BUT ION CUMULATIVE PERCENTAGE SALES SINCE P R E V I O U S MONTH 2/ ( M I L L I O N S OF D O L L A R S ) 2,018.8 8.6 8.6 .0 6,440.3 27.4 36.0 1,093.2 FEBRUARY 3,428.7 14.6 50.6 347.7 MARCH 3,126.0 13.3 63.9 1,022.9 APRIL 1,898.3 8.1 72.0 195.8 MAY 1,467.6 6.2 78.2 156.2 JUNE 1,988.3 8.5 86.7 911.5 JULY 749.3 3.2 89.9 134.7 AUGUST 472.6 2.0 91.9 78.8 SEPTEMBER 475.9 2.0 93.9 87.6 OCTOBER 425.6 1.8 95.7 30.4 NOVEMBER 211.3 .9 96.6 32.3 DECEMBER 288.9 1.2 97.8 2 3 5 . 0 3/ OVER 508.0 2.2 100.0 XXX 23,499.6 100.0 XXX 4,326.0 1968 DECEMBER 26 - 31 1969 J A N U A R Y 12 M O N T H S TOTAL (MEMORANDUM: 284.9 656.3 345.1 M A R C H 10 M A R C H 17 APRIL 15 1/ INCLUDES O N L Y C E R T I F I C A T E S 2/ SEE T E C H N I C A L A P P E N D I X A . 3/ SALES O F C D ' S M A T U R I N G AFTER IN D E N O M I N A T I O N S OF 11 M O N T H S . TAX AND DIVIDEND M A T U R I T I E S ) 1.2 2.8 1.5 $100,000 OR MORE XXX XXX XXX ISSUED BY W E E K L Y R E P O R T I N G B A N K S . TABLE 2A 1/ M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , C H I C A G O , AND ALL OTHER WEEKLY REPORTING BANKS AS OF 25 DEC 1968 (IN MILLIONS OF DOLLARS) CD'S MATURING SALES SINCE PREVIOUS MONTH 2/ - AMOUNT IN SALES SINCE PREVIOUS MONTH 2/ - AMOUNT - AMOUNT SALES SINCE PREVIOUS MONTH 2/ 722.4 .0 168.7 .0 1,127.9 .0 1,878.1 303.8 534.0 38.1 4,028 .1 751 .3 FEBRUARY 961.1 90.8 293.2 10.0 2,174.4 246.9 MARCH 938.7 228. 7 243.5 84.2 1,943.8 710.0 APRIL 511.8 29.4 110.7 9.6 1,275.8 156.8 MAY 436.1 42.9 179.4 4.2 852.1 109.1 JUNE 729.4 297.4 166.2 79.4 1,092.7 534.6 JULY 161.1 31.6 46.5 5.1 541.7 97.9 AUGUST 126.2 38.5 26.0 1.8 320 .4 38.5 SEPTEMBER 106.6 26.4 53.0 9.0 316.3 52.2 OCTOBER 77.0 13.8 19.1 .0 3 29.5 16.5 NOVEMBER 39.3 4.6 22.7 5.3 149*3 22. 4 DECEMBER 73.4 OVER 78.8 XXX 11.0 XXX 418.2 XXX 6,840.0 1,160.4 1,883.9 257.2 14,775.7 2,908.4 1968 DEC 26 - DEC 31 1969 J A N U A R Y 12 M O N T H S TOTAL * N U M B E R OF R E P O R T I N G B A N K S 11 12 71.0 302.8 115.6 M A R C H 10 MARCH 17 APRIL 15 INCLUDES ONLY C E R T I F I C A T E S 2/ SEE TECHNICAL IN DFKHMINAII APPENDIX A . 3/ SALES OF C D ' S M A T U R I N G AFTER 11 MONTHS. * T O T A L S MAY NOT ADD DUE TO R O U N D I N G . 10.5 /3 9.9 52.5 A3 (MEMORANDUM: 1/ ALL OTHER WEEKLY REPORTING BANKS CHICAGO NEW YORK CITY TAX 205.6 240 AND DIVIDEND M A T U R I T I E S ) 29.3 53.3 29.1 I84.6 300.2 200.4 172.0 /3 # # # # # + # # TABLE 2B 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 OF NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING AS OF 25 DEC 1968 AND 27 N O V (PERCENTAGE 25 DEC 0—6 D A Y S 2/ 1968 CHICAGO 27 NOV 25 DEC ALL 27 NOV OTHER 25 DEC 27 NOV 10.6 3.3 9.0 1.5 7.6 2.4 27.5 30.5 28.3 24.7 27.3 25.3 02 M O N T H S 14.1 21.0 15.6 25. 1 14.7 22.1 03 M O N T H S 13.7 11.6 12.9 14.3 13.2 13.0 04 MONTHS 7.5 9.5 5.9 8.1 8.6 8.3 05 M O N T H S 6.4 6.4 9.5 5.1 5.8 7.5 06 M O N T H S 10.7 5.3 8.8 8.9 7.4 5.0 07 MONTHS 2.4 5.8 2.5 4.4 3.7 3.8 08 M O N T H S 1.8 1.7 1.4 2.1 2.1 3.0 09 M O N T H S 1.6 1.2 2.8 1.2 2.1 1.9 10 M O N T H S 1.1 1.1 1.0 2.2 2.2 1.8 11 M O N T H S .6 .8 1.2 1.0 1.0 2. 1 12 M O N T H S 1.1 .5 .5 .9 1.4 .9 1.2 1.3 .6 .5 2.8 3.0 100.0 100.0 100.0 100.0 100.0 100.0 01 M O N T H S OVER 3/ 12 M O N T H S TOTAL * 1/ BANKS DISTRIBUTION) NEW YORK CITY r n * < MATIIP IMP. I M 1/ D E P O S I T AT INCLUDES 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 OF $ 1 0 0 , 0 0 0 OR M O R E ISSUED BY WEEKLY REPORTING 2/ NUMBER OF DAYS1 R E M A I N I N G IN SURVEY M O N T H . THIS P E R I O D V A R I E S WITH THE N U M B E R OF F O L L O W I N G THE LAST W E D N E S D A Y OF THE M O N T H . 3/ NUMBER OF M O N T H S F O L L O W I N G * T O T A L S M A Y M O T ADD DUE THE SURVFY M O N T H . TO R O U N D I N G . DAYS TABLE 2C 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 CERTIFICATES OF DEPOSIT^AT NEW Y O R K C I T Y , C H I C A G O , AND ALL OTHER WEEKLY REPORTING BANKS AS OF 25 DEC 1968 AND 27 NOV 1968 (CUMULATIVE D I S T R I B U T I O N ) MATURING IN NEW YORK CITY 25 DEC -6 D A Y S 2/ 27 NOV CHICAGO 25 DEC ALL OTHER 27 NOV 25 DEC 27 NOV 10.6 3.3 9.0 1.5 7.6 2.4 38.1 33.8 37.3 26.2 34.9 27.7 02 M O N T H S 52.2 54.8 52.9 51.3 49.6 49.8 03 M O N T H S 65.9 66.4 65.8 65.6 62.8 62.8 04 M O N T H S 73.4 75.9 71.7 73.7 71.4 71.1 05 M O N T H S 79.8 82.3 81.2 78.8 77.2 78.6 06 M O N T H S 90.5 87.6 90.0 87.7 84.6 83.6 07 M O N T H S 92.9 93.4 92.5 92.1 88.3 87.4 08 M O N T H S 94.7 95.1 93.9 94.2 90.4 90.4 09 M O N T H S 96.3 96.3 96.7 95.4 92.5 92.3 10 M O N T H S 97.4 97.4 97.7 97.6 94.7 94.1 11 M O N T H S 98.0 98.2 98.9 98.6 95.7 96.2 12 M O N T H S 99.1 98.7 99.4 99. 5 97.1 97.1 100.0 100.0 100.0 100.0 100.0 LOO. 0 01 MONTHS 3/ :R 12 M O N T H S 1/ INCLUDES 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 OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY R E P O R T I N G 2/ NUMBER OF D A Y S REMAINING IN SURVEY MONTH, THIS PERIOD VARIES WITH THE NUMBER OF D A Y S F O L L O W I N G THE LAST W E D N E S D A Y OF THE M O N T H . 3/ NUMBER OF M O N T H S F O L L O W I N G THE SURVEY M O N T H . # TABLE 3A e MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 25 DEC 1968 (AMOUNTS IN MILLIONS OF DOLLARS) $1 BILLION AND OVER - CD'S MATURING IN $200 MILLION AND UNDER TOTAL $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL - 682.1 372.4 277.3 2,018,8 99.6 260.5 326.9 6,440.3 361.8 819.2 1,231.2 4,028.1 1,720.3 1,378.8 929.0 FEBRUARY 3,428.7 169.1 464.5 608.3 2,186.8 888.4 807.3 491.1 MARCH 3,125.9 162.1 392.1 567.2 2,004.5 884.2 614.2 506.1 APRIL 1,898.3 102.3 222.0 335.9 1,238.1 478.1 432.5 327.5 MAY 1,467.6 68.4 166.7 215.2 1,017.3 403.6 403.5 210.2 JUNE 1,988.4 75.4 184.7 354.2 1,374.1 696.7 464. 0 213.4 JULY 749.3 27.9 83.7 159.2 478.5 153.8 191.3 133.4 AUGUST 472.5 14.2 107.2 68.7 282.4 116.5 95.9 70.0 SEPTEMBER 475.9 15.9 65.3 86.4 308.3 ICC.9 132.9 74.5 OCTOBER 425.6 10.7 61.3 60.5 293. 1 71.7 162.4 59.0 NOVEMBER 211.2 7.9 40.0 34.7 128.6 36.3 66.5 25.8 DECEMBER 288.8 10.7 41.4 57.8 178.9 54.5 77.8 46.6 507.9 4.7 48.7 97.8 356. 7 72.0 198.6 86.1 23,499.2 1,130.7 2,957.3 4,204.0 15,207.2 6,359.1 5,398.1 3,450.0 1968 DEC 26-31 1969 JANUARY 1970 JANUARY OR LATER TOTAL * — 1, 331. 8 OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY amh ui m vvi i nFiun ifqi niyu utfiu matub h a i u mit i icoj 1 ncnuR«iwun . — MARCH 10 284.8 13.0 30.8 54.4 186.6 62.6 66.6 57.4 MARCH 17 656.3 18.4 39.9 78.8 519.2 296.7 123.0 99.5 APRIL 15 345.1 9.8 17.7 58.6 259.0 114.5 77.2 67.3 37 7 12 18 l hc nu^Aiwu r • 263 90 84 Mil unco Ur nc oAnll\ R AMIfj<11 — NUnBt" 52 — 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100*000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31# 1965. PRIME BANKS ARF THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE 3 / REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. * T O T A L S MAY NOT ADD DUE TO ROUNDING. TABLE 3ft SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 25 DEC 1968 (AMOUNTS IN MILLIONS OF DOLLARS) SI BILLION AND OVER CD'S MATURING IN 1968 DEC TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION — PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 26-31 1969 JANUARY 1,093.2 92.7 160.7 229.9 609. S 272.3 176.7 160.9 347.6 25.4 57.2 54.6 210.4 81.2 70.2 59.0 MAkCH 1,023.1 74.2 181.5 179.3 588.1 208.2 171.5 208.4 APRIL 195.9 15.4 21.2 44.5 114.8 25.9 30.9 58.0 MAY 156.2 12.5 25.4 12.7 105.6 38.1 32.0 35.5 JUNE 911.7 46.1 117.5 170.7 577.4 276.5 190.4 110.5 JULY 134.8 3.5 5.4 5.7 120.2 31.6 53.3 35.3 AUGUST 78.6 2.3 15.4 5.9 55.0 34.8 6.2 14.0 SEPTEMBER 87.6 2.2 11.7 10.6 63. 1 25.6 19.9 17.6 OCTOBER 30.6 1.6 5.8 1.7 21.5 13.8 7.9 0.2 NOVEMBER 32.3 2.5 6.7 6.5 16.6 4.5 8.9 3.2 234.8 9.5 60.0 49.5 115.8 38.5 38.7 38.6 4,326.4 287.9 668.5 771.6 2,598.4 1,051.0 806.6 740.8 32.7 9.5 FEBRUARY DECEMBER OR LATER TOTAL * I MEMORANDUM: TAX AND DIVIDEND MATURITIES! MARCH 10 20.5- 2.5- 4.4 10.9- 11.5- 53.7- MARCH 17 488.4- 9.4- 23.1- 62.7- 393.2- 321.7- 50.8- 20.7- APRIL 15 345.1 9.8 17.7 58.6 259.0 114.5 77.2 67.3 12 18 — 263 1/ 2/ 3/ 4/ 90 (MEMORANDUM: NUMBER OF BANKS 1 84 52 37 SEE TECHNICAL APPENDIX A. INCLUDES CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. PRIMF BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. Digitized for *FRASER http://fraser.stlouisfed.org/ # # # # # $ e # # # Federal Reserve Bank of St. Louis * * TABLE 3C • e # S # MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION 1969 3 PRIME 3/ - TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 8.6 8.8 8.8 7.8 8.8 10. 7 6.9 8.0 JANUARY 27.4 32.0 27.7 29.3 26.5 27.1 25.5 26.9 FEBRUARY 14.6 15.0 15.7 14.5 14.4 14.0 15.0 14.2 MARCH 13.3 14.3 13.3 13.5 13.2 13.9 11.4 14.7 APRIL 8.1 9. 0 7.5 8.0 8.1 7.5 8.0 9.5 MAY 6.2 6.0 5.6 5.1 6.7 6.3 7.5 6.1 JUNE 8.5 6.7 6.2 8.4 9.0 11.0 8.6 6.2 JULY 3.2 2.5 2.8 3.8 3.1 2.4 3.5 3.9 AUGUST 2.0 1.3 3.6 1.6 1.9 1.8 1.8 2.0 SEPTEMBER 2.0 1.4 2.2 2. 1 2.0 1.6 2.5 2.2 OCTOBER 1.8 0.9 2.1 1.4 1.9 1. 1 3.0 1.7 NOVEMBER 0.9 0. 7 1 .4 0.8 0.8 0.6 1.2 0.7 DECEMBER 1.2 0.9 1.4 1.4 1.2 0.9 1.4 1.4 2.2 0.4 1.6 2.3 2.3 1.1 3.7 2.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 J A N U A R Y OR LATER TOTAL * (MEMORANDUM: MARCH < 1/ - - 26-31 # $1 B I L L I O N AND' OVER - - 1968 DEC # 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 OF D E P O S I T AT WEEKLY R E P O R T I N G BANKS BY SIZE OF BANKS 2/ AS OF 25 DEC 1968 PERCENTAGE DISTRIBUTION ' CD'S * TAX AND D I V I D E N D M A T U R I T I E S ) 10 1.2 1.1 1.0 1.3 1.2 1.0 1.2 1.7 M A R C H 17 2.8 1.6 1.3 1.9 3.4 4.7 2.3 2.9 APRIL 1.5 1A 1. 7 1.8 1. 4 2. 0 15 . 9 .6 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 $100,000 OR MCRE ISSUED BY W E E K L Y R E P O R T I N G 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 REPORT OF C O N D I T I O N ON DECEMBER 31, 1965. 3/ PRI"F BANKS A R E THOSE WHOSE 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 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 A N D R E P O R T E D BY D E A L F R S TO T R A D E WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE S E C O N D A R Y M A R K E T . * T O T A L S MAY NOT A D D DUE TO R O U N D I N G . WHICH ARE T A B L E 3D 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 DEPOSIT AT WEEKLY R E P O R T I N G BANKS BY SIZE OF BANKS 2/ AS OF 25 DEC 1968 'CUMULATIVE PERCENTAGE $1 B I L L I O N A N D OVER - CD'S MATURING IN TOTAL $200 MILLION A N D UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION 1/ — PRIME TOTAL NEW YORK CITY 1968 DEC 26-31 3/ OUTSIDE NEW YORK CITY NON-PRIME 8.6 8.8 8.8 7.8 8.8 10.7 6.9 8.0 36.0 40.8 36.5 37.1 35.3 37.8 32.4 34.9 FEBRUARY 50.6 55.8 52.2 51.6 49.7 51.8 47.4 49.1 MARCH 63.9 70. 1 65.5 65.1 62.9 65.7 58.8 63.8 APRIL 72.0 79. 1 73.0 73.1 71.0 73.2 66.8 73.3 MAY 78.2 85. 1 78.6 78.2 77.7 79.5 74.3 79.4 JUNE 86.7 91.8 84.8 86.6 86.7 90.5 82.9 85.6 JULY 89.9 94.3 87.6 90.4 89.8 92.9 86.4 89.5 AUGUST 91.9 95.6 91.2 92.0 91.7 94.7 88.2 91.5 SEPTEMBER 93.9 97.0 93.4 94.1 93.7 96.3 90.7 93.7 OCTOBER 95.7 97.9 95.5 95.5 95.6 97.4 93.7 95.4 NOVEMBER 96.6 98.6 96.9 96.3 96.4 98.C 94.9 96.1 DECEMBER 97.8 99.5 98.3 97.7 97.6 98.9 96.3 97.5 100.0 100. 0 100.0 100.0 100.0 100.0 100.0 100.0 1969 J A N U A R Y 1970 J A N U A R Y OR LATER 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 0 0 , 0 0 0 CR MOPE ISSUED BY W E E K L Y REPORTING B A N K S . 2/ T O T A L D E P O S I T S AS R E P O R T E D IN THE CALL REPORT OF C O N C I T I C N ON DECEMBER 31, 1 9 6 5 . 3/ P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T Q U A L I T Y AND WHICH ARE R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N I 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 . TABLE 3F SALES Zl/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 25 DEC 1968 PERCENTAGE DISTRIBUTION $1 BILLION ANDi OVER - CD'S MATURING 1968 DEC IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION — PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 26-31 1969 JANUARY FEBRUARY 25.3 32.2 24.0 29.8 23.5 25.9 21.9 21.7 8.0 8. 8 8.6 7.1 8.1 7.7 8.7 8.0 MARCH 23.6 25.8 27.2 23.2 22.6 19.8 21.3 28.1 APRIL 4.5 5.3 3.2 5.8 4.4 2.5 3.8 7.8 MAY 3.6 4.3 3.8 1.6 4.1 3.6 4.0 4.8 JUNE 21.1 16.0 17.6 22. 1 22.2 26.3 23.6 14.9 JULY 3.1 1.2 0.8 0.7 4.6 3.0 6.6 4.8 AUGUST 1.8 0.8 2.3 0.8 2.1 3.3 0.8 1.9 SEPTEMBER 2.0 0.8 1.8 1.4 2.4 2.4 2.5 2.4 OCTOBER 0.7 0.6 0.9 0.2 0.8 1.3 1.0 0.0 NOVEMBER 0.7 0.9 1.0 0.8 0.6 0.4 1.1 0.4 DECEMBER OR LATER 5.4 3.3 9.0 6.4 4.5 3.7 4.8 5.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 4.1 1.3 TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 0.5- 0.9- 0.7 1.4- 0.4- 5.1- M A R C H 17 11.3- 3.3- 3 . 5— 8.1— 15.1- 30.6- 6. 3— 2. 8 - 3.4 2.6 7.6 10.0 10.9 9.6 9.1 APRIL 15 8.0 MIMRPD nf NUnotK Ur HAMULI ri AiNIx j 1_ _ _ _ _ 1MEMORANDUM: 263 1/ 2/ 3/ 4/ 90 84 52 37 7 12 SEE TECHNICAL APPENDIX A. INCLUDES CERTIFICATES IN O E N O N I M T I O N S OF $100,000 CR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. • TOTALS MAY NOT ADO DUE TO ROUNDING. 18 T A B L E 4A A V E R A G E MATURITY 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 OF DEPOSIT AT WEEKLY REPORTING 1/ BANKS AT V A R I O U S SURVEY DATES (IN M O N T H S ) BANK C L A S S I F I C A T I O N — ——— 25 DEC 1968 DATE OF SURVEY —— 27-NOV 1968 30 OCT 1968 C BY L O C A T I O N ) ALL R E P O R T I N G BANKS 3.1 3.1 3.3 2.9 2.8 2.9 CHICAGO 2.9 3.0 3.3 OTHER 3.3 w w ISSUING C D ' S 3.5 NEW YORK C I T Y UNDER $200 M I L L I O N , 1 (BY SIZE OF B A N K ) 2/ 2.6 $200— $500 MILLION 3.1 3.0 3.2 $500— $ 1,000 M I L L I O N 3.1 3.1 3.3 OVER 3.2 3.2 3.3 2.9 2.8 2.9 3.5 3.6 3.8 3.1 3.1 3.3 $1 B I L L I O N PRIME IN NEW YORK CITY 3/ PRIME O U T S I D E NEW YORK CITY 3/ NON-PRIME IN D E N O M I N A T I O N S OF 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T Q U A L I T Y AND W H I C H ARF R E P O R T E D BY D E A L E R S TO TRADE WITHIN I OR 2 BASIS POINTS OF EACH OTHER WITHIN THE S E C O N D A R Y M A R K E T . D E P O S I T S AS R E P O R T E D http://fraser.stlouisfed.org/ « Federal Reserve Bank of St. Louis a IN THE CALL * $100,000 OR MORE 00 2.6 ISSUED BY W E E K L Y REPORTING B A N K S . REPCRT OF C O N D I T I O N ON DECEMBER # # # 31, 1965. # # # TABLE 48 AVERAGE MATURITY OF NEGOTIABLE'TIME CERTIFICATES OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MCNTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 25 DEC 1968 27-NOV 1968 30 OCT 1968 (BY L O C A T I O N ) ALL REPORTING BANKS ISSUING CD'S 3.8 3.5 3.3 NEW YORK CITY 3.9 3.8 2.9 CHICAGO 4.2 3.9 3.1 OTHER 3.7 3.2 3.6 (BY SIZE OF B A N K ) 2/ UNDER $200 MILLION 3.1 2.7 2.8 $200— $500 MILLION 3.9 3.2 3.5 $500— $1,000 MILLION 3.6 3.1 3.2 OVER 3.9 3.7 3.4 3.9 3.8 2.9 PRIME OUTSIDE NEW YORK CITY 3/ 4.0 4.0 4.1 NON-PRIME 3.7 3. 1 3.3 $1 BILLION PRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL IN NEW YORK CITY 3/ IN DENOMINATIONS OF DEPOSITS AS RFPORTFD 3/ N O T E — S E E TECHNICAL APPENDIX B . $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . IN THE CALL REPORT OF CONDITION ON DFCEMBFR 31, 1965. TABLE 5A PATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TC TOTAL DEPOSITS i AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S 25 DEC 1963 27 NOV 1968 30 OCT 1968 10.3 11.0 10.7 UNDER 200 7.0 7.2 7.2 200 - 500 9.0 9. 1 9.2 500 - 1000 9.6 10.5 10.4 11.2 12.0 11.5 12.3 13.7 12.9 OVER 1000 PRIME IN NEW YORK 3/ NONPRIME 9.6 12.4 o o PRIME OUTSIDE NEW YORK 3/ 12.8 9.7 12.4 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- DEPOSITS IN THE DEhOMlNATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. T A B L E 58 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 TIME C E R T I F I C A T E S OF D E P O S I T i TO TOTAL DEPOSITS AS CF 25 DEC (NUMBER TOTAL D E P O S I T S 2/ <IN M I L L I O N S OF ALL 5% OR LESS DOLLARS) B A N K S ISSUING CD'S 5 TO 10% 1/ 1968 OF B A N K S ) 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE A V E R A G E CO TO D E P O S I T R A T I O (PER C E N T ) 91 73 52 28 17 2 10.3 UNDER 200 40 27 13 6 4 0 7,0 200 - 500 35 17 17 6 7 2 9.0 500 - 1000 13 16 11 9 3 0 9.6 3 13 11 7 3 0 11.2 0 1 6 0 0 0 12.3 1 7 0 3 1 0 9.6 2 5 5 4 2 0 12.4 OVER 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW YORK 3/ NONPRIME 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 $100,000 OR MORE ISSUED BY WEEKLY REPORTING IN THE CALL REPORT CF C O N D I T I O N ON DECEMBER 31, BANKS. 1965. 3/ PRIME B A N K S ARE THOSF 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 BEING OF THE H I G H E S T QUALITY AND W H I C H ARE R E P O R T E D BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS P O I N T S OF EACH OTHER WITHIN THE SECONDARY 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 INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN T H I S TABLE ARE TOTAL D E M A N D AND TIME D E P O S I T S , I N C L U D I N G T A B L E 5C PER CENT 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 OF DEPOSIT i 2 7 NOV 1968 TO 25 DEC I NUMBER OF 1968 BANKS) D E C L I N E S OF TOTAL D E P O S I T S 2/ REDUCED C D ' S TO ZERO (IN M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S 10% OR MORE 5 TO 10% /I INCREASES OF 5% OR LESS NO CHANGE 5% OR LESS ISSUING 5 TO 10% ISSUED C D ' S BUT H A D NONE O U T S T A N D ING ON BASE DATE 10% OR MORE 0 21 38 65 28 58 24 27 2 UNDER 200 0 7 5 23 14 19 7 14 1 200 - 500 0 5 11 18 10 20 9 10 1 500 - 1000 0 7 10 12 4 14 3 2 0 OVER 0 2 12 12 0 5 5 1 0 0 2 3 1 0 1 0 0 0 0 0 4 5 0 1 1 1 0 0 0 5 6 0 3 4 0 0 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW Y O R K 3/ NONPRIME 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 $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G IN THE CALL R E P O R T OF C O N D I T I O N ON DECEMBER 31, BANKS. 1965. 3/ P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING OF THE H I G H E S T QUALITY 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 I OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTF- # THE N U M B E R OF B A N K S IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT B A N K S THAT H A D O U T S T A N D I N G C D ' S ON THE LAST SURVEY 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 . # # # # # # • • s # # # # e # e e TABLE 50 PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 25 SEP 196 8 TO 25 DEC 1968 (NUMBER OF BANKS) TOTAL DEPOSITS /2 C IN MILLIONS OF DOLLARS) ALL BANKS CD'S REDUCED CD'S 25% TO OR ZERO MORE DECLINES OF 20 TO 25% 10 TO 15% 15 TO 20% INCREASE OF 5 TO 10* 5% OR LESS 12 17 26 NO CHANGE 15 5% OR LESS 5 TO 10% 10 TO 15% 20 TO 25% 45 21 24 23 TO 20% 25% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE ISSUING 21 41 UNDER 200 4 10 3 2 5 7 7 3 9 2 13 7 2 18 2 200 - 500 2 8 1 4 4 3 5 4 15 9 6 7 3 14 I 500 - 1000 0 3 3 0 2 4 6 1 13 3 4 4 I 7 1 OVER 0 0 0 1 1 3 8 0 8 7 1 5 1 2 0 PRIME IN NEW YORK 3/ 0 0 0 0 I 0 2 0 0 1 0 2 1 0 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 1 2 0 5 2 i 1 0 0 0 NONPRIMF 0 0 0 1 0 2 4 0 3 4 0 2 0 2 0 1000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. 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 D E P O S I T OVER THE M O N T H AS AT A PER CENT OF TOTAL THE B E G I N N I N G OF THE 2 7 NOV 1968 TO 25 DEC 1/ DEPOSITS PERIOD 1968 I NUMBER OF BANKS) TOTAL D E P O S I T S 2/ D E C L I N E S OF 3% AND OVER (IN M I L L I O N S OF D O L L A R S ) ALL B A N K S CD'S 1% A NO LESS 1 TO 2% 2 TO 3% INCREASES OF NO CHANGE 1% AND LESS 2 TO 3% 1 TO 2% 3% AND OVER ISSUING 1 3 16 108 28 85 15 4 3 200 0 0 0 37 14 30 7 1 1 200 - 500 0 0 6 29 10 30 5 2 2 500 - 1 1 6 22 4 17 0 1 0 0 2 4 20 0 8 3 0 0 0 2 3 I 0 1 0 0 0 0 0 1 8 0 2 1 0 0 0 0 0 11 0 5 2 0 0 UNDER OVER 1000 1000 PRIME IN N E W Y O R K 3/ PRIME O U T S I D E N E W YORK 3/ NONPRI ME 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 D E P O S I T S AS R E P O R T E D CF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY W E E K L Y R E P O R T I N G IN THE CALL R E P O R T CF CONDITION ON DECEMBER BANKS. 31, 1965. 3/ P R I M E B A N K S ARE THOSE WHOSE N E G O T I A B L E C E R T I F I C A T E S OF DEPOSIT ARE R E G A R D E D AS BEING 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 D E A L E R S 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 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 T H I S TABLE ARE TOTAL D E M A N D A N D TIME D E P O S I T S , INCLUDING # # # # # # # e e T A B L E 5F CHANGE OVER 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 D E P O S I T THE LAST THREE MONTHS AS A PER CENT OF TOTAL D E P O S I T S AT THF B E G I N N I N G OF THE 25 SEP 1968 TO 25 DEC (NUMBER TOTAL DEPOSITS 2/ OF PERIOD 1968 BANKS) D E C L I N E S OF CIN M I L L I O N S OF D O L L A R S ) ALL B A N K S CD'S 1/ 5% AND OVER 4 TO 5% 3 TO 4% I N C R E A S E S OF 2 TO 3* I TO 2% 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 3 TO 4% 2 TO 33 5% AND OVER 4 TO 5% ISSUING I 2 2 9 21 57 8 90 3C 23 6 6 8 200 0 1 0 4 6 23 3 31 12 4 0 5 1 200 - 500 0 0 2 2 9 14 4 29 5 1C 5 1 3 I 1 0 2 3 11 1 16 10 5 0 0 2 0 0 0 I 3 9 0 14 3 4 1 0 2 0 0 0 1 0 2 0 1 0 3 0 0 0 0 0 0 0 1 2 0 6 2 1 0 0 0 0 0 0 0 2 5 0 7 1 0 1 0 2 UNDER 500 OVER 1000 1000 PRIME IN NEW YORK P R I M E O U T S I D E NEW NONPRIME 1/ 3/ YORK 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 DEPOSITS AS REPORTED $100,000 OR MORE ISSUED BY W E E K L Y R E P O R T I N G IN THE CALL REPORT CF 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 N E G O T I A B L E 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 QUALITY AND W H I C H ARE R E P O R T E D BY D E A L E R S TO TRADE WITHIN 1 OR 2 BASIS POINTS 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 C E M A N D A N D T I M E D E P O S I T S , INCLUDING T A B L E 6A MATURITY DISTRIBUTION 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 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 1/ AS OF 25 DEC 1968 (AMOUNTS C O ' S MATUR ING IN ALL DISTRICTS BOSTON 2018.7 107.1 1 9 6 9 JAN 6440.7 FFB ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 271.2 0.0 46.0 47.2 172.2 269.7 176,6 896.3 110.8 114.5 162.3 518.4 1043.7 65.5 HO.I 510.5 70.0 53.7 79.4 201.6 637.8 149.1 93.2 90.7 419.5 69.8 51.0 75.1 209.0 519.9 60.7 142.7 51.4 44.8 218.8 57.5 34.6 30.5 142.1 374.0 515.1 38.0 81.8 29.9 4 2.4 301.2 26.3 20.8 25.8 73.3 241.9 137.4 841.3 69.5 123.7 30.6 49.6 257.6 43.0 28.6 34.0 89.4 283.5 749.3 30.4 229.4 24.9 131.9 4.9 40.6 81.0 9.9 10.6 17.5 56.0 112.2 AUG 472.3 26.4 160.6 8.6 78.7 5.1 18.4 53.8 4.1 6.0 19.2 18.8 72.6 SEP 475.9 22.8 142.9 12.6 48.1 13.4 16.8 91.2 8.6 5.8 8.4 22.5 82.8 OCT 425.6 19.8 98.1 5.2 35.5 13.9 8.7 43.7 3.9 3.7 24.4 16.9 151.8 NOV 211.4 9.7 55.1 4.2 19.2 7.1 4.9 47.9 2.2 1.5 3.1 12.4 44.1 DEC 288.8 46. 1 88.5 7.6 20.2 8.8 16.1 30.6 2.9 1.1 2.8 25.7 38.4 508.1 23.9 102.1 18.9 192.8 7.9 12.7 61.6 9.0 0.3 0.2 38.7 40.0 23499.4 1348.7 8422.9 699.2 1745.2 492.7 670.3 3284.9 418.0 378.2 529.9 1597.0 3912.4 3.1 4.4 3.1 3.3 3.0 3.2 2.4 2.7 3.1 10 18 16 35 11 24 33 CLEVELAND 858.0 53.3 100.2 55.9 37.9 399.7 2354.1 171.4 387.8 105.1 3428 k 8 188.7 1175.5 102.5 233.5 MAR 3125.9 165.2 1161.6 121.8 APR 1898 .3 100.6 640.6 MAY 146 7-4 70.9 J UN 1988.2 JUL 31 1970 JAN OR LATER * AVERAGE MATURITY IN M O N T H S 2/ 3. 1 NUMBER OF BANKS 263 1/ NEW YORK PHILADELPHIA 1968 DEC 2 5 - D F C TOTAL IN MILLIONS OF D O L L A R S ) 3.1 2. 8 RICHMOND ATLANTA CHICAGO 2.8 REPORTING INCLUDES O N L Y C E R T I F I C A T E S 2/ SEE T E C H N I C A L APPENDIX 49 ISSUED IN D E N O M I N A T I O N S OF B. * D E T A I L S M A Y N O T A D D TO T O T A L S DUE 18 TO R O U N D I N G . 23 $100,000 OR MORE BY WEEKLY R E P O R T I N G B A N K S . 21 • • • • e e e e TABLE 6B 1/ 2/ S A L E S OF 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 FEDERAL RESERVE DISTRICT AS OF 25 DEC 1968 (AMOUNTS ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 86.7 36.2 11.6 17.7 110.7 189.7 28.4 5.9 0.8 9.4 19.7 90.2 1 2. 1 153.1 30.0 16.2 26.1 84.5 184.9 3.7 -5. 2 24.1 15.8 3.0 1.4 22.5 37.2 12.3 2.5 -7. 1 23.9 4.9 4.8 4.7 10.1 30.7 33.2 40.1 18.4 20.7 131.9 28.5 18.9 21.1 55.8 143.0 56.5 0.4 48.6 0.2 -3.4 9.9 0.9 1.2 0.4 0.7 14.3 3. 6 44.7 0.5 7.1 1.2 5.3 5.3 0. 1 1.4 0.1 0.8 8.4 87.8 8.7 30.6 0.6 11.2 1.2 -0.2 14.6 1.8 4.1 0.1 2.9 12.2 OCT 30.7 6.2 14.4 0.0 2.2 0. 1 - 1.4 3.3 1.7 1.5 0.1 2.6 0.0 NOV 32.5 3.2 5.9 0.7 3.5 0.4 0.1 8.2 1.8 0.1 2.2 3.2 3.2 235. 1 24.6 63.2 8.4 13.7 8.7 10.7 42.4 7.5 0.9 2.7 22.2 30.1 4326 -5 310.4 1539.5 139.7 262.4 108.4 169.1 531.8 135.1 64.5 86.0 335.7 743.9 3.8 3.8 3.7 3.6 4.5 3.6 4.2 4.3 3.7 4.2 3.5 3.3 3.4 CD'S MATURING ALL DISTRICTS BOSTON 1968 JAN 10 93,4 87, 3 FEB 3 47.6 MAR IN RICHATLANTA MOND PHILADELPHIA CLEVELAND 406.6 31.8 53.8 22.8 38% 5 25.8 129.9 9.0 20.4 9.1 -1.0 1023.0 68. 1 323.0 40.7 44.2 40.1 APR 195 .9 19.7 54.9 13.5 5.3 MAY 155 -9 6.5 61.7 0.9 JUN 911.1 51.4 348.1 JUL 1 35.0 5.3 AUG 78.5 SEP 1970 DEC OR LATER TOTAL IN MILLIONS OF D O L L A R S ) * AVERAGE MATURITY IN MONTHS 3/ NEW YORK CHICAGO 1/ SEE TECHNICAL A P P E N D I X A* 2/ INCLUDES ONLY C E R T I F I C A T E S ISSUED IN DENOMINATIONS OF 3/ SEE T E C H N I C A L A P P E N D I X B . * D E T A I L S MAY NOT A D D TO T O T A L S DUE TO ROUNDING. $100,000 OR MORE BY WEEKLY R E P O R T I N G B A N K S . T A B L E 6C MATURITY DISTRIBUTION GF 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 W E E K L Y R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT 1/ AS OF 25 DEC 1968 (PERCENTAGE CO's MATURING IN 1968 DEC 25--DEC ALL DISTRICTS 31 BOSTON 8. 6 NEW YORK DISTRIBUTION) PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 7.9 10.2 7.6 5.7 11.3 5.8 8.3 0.0 12.2 8.9 10.8 6.9 1969 JAN 27.4 29.6 27.9 24.5 22.2 21.3 26.5 27.3 26.5 30.3 30.6 32.5 26.7 FEB 14.6 14.0 14.0 14.7 13.4 13.3 16.7 15.5 16.7 14.2 15.0 12.6 16.3 MAR 13.3 12.2 13.8 17.4 8.5 18.9 13.6 12.8 16.7 13.5 14.2 13.1 13.3 APR 8.1 7.5 7.6 8.7 8.2 10.4 6.7 6.7 13.8 9.1 5.8 8.9 9.6 MAY 6.2 5.3 6. 1 5.4 4.7 6.1 6.2 9.2 6.3 5.5 4.9 4.6 6.2 J UN 8.5 10.2 10.0 9.9 7.1 6.2 7.6 7.8 10.3 7.6 6.4 5.6 7.2 JUL 3.2 2.3 2.7 3.6 7.6 1.0 6.2 2.5 2.4 2.8 3.3 3.5 2.9 AUG 2.0 2.0 1.9 1.2 4.5 1.0 1.5 1.6 1.0 1.6 3.6 1.2 1.9 SEP 2.0 1.7 1.7 1.8 2.8 2.7 2.6 2.8 2.1 1.5 1.6 1.4 2.1 OCT 1.8 1.5 1.2 0.7 2.0 2.8 1.3 1.3 0.9 1.0 4.6 1.1 3.9 NOV 0.9 0.7 0.7 0.6 1.1 1.4 0.8 1.5 0.5 0.4 0.6 0.8 1.1 DEC 1.2 3.4 1.1 1.1 1.2 1.8 2.5 0.9 0.7 0.3 0.5 1.6 1.0 2.2 1.8 1.2 2.7 11.0 1.6 1.9 1.9 2.2 0.1 0.0 2.4 1.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 9 7 0 J A N OR LATER TOTAL 1/ * INCLUDES O N L Y C E R T I F I C A T E S ISSUED IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY R E P O R T I N G B A N K S . 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 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 AT WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E DISTRICT 1/ AS OF 25 DEC 1968 (CUMULATIVE CO* s MATURING ALL DISTRICTS IN BOSTON NEW YORK PHILADELPHIA CLEVELAND PERCENTAGE) RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 8, 6 7.9 10.2 7.6 5.7 11.3 5.8 8.3 0.0 12.2 8.9 10.8 6.9 1969 JAN 36.0 37.5 38.1 32.1 27.9 32.6 32.3 35.6 26.5 42.5 39.5 43.3 33.6 FEB 50.6 51.5 52.1 46.8 41.3 45.9 49.0 51.1 43.2 56.7 54.5 55.9 49.9 MAR 63.9 63.7 65.9 64.2 49.8 64.8 62.6 63.9 59.9 70.2 68.7 69.0 63.2 APR 72.0 71.2 73.5 72.9 58.0 75.2 69.3 70.6 73.7 79.3 74.5 77.9 72.8 MAY 78.2 76.5 79.6 78.3 62.7 81.3 75.5 79.8 80.0 84.8 79.4 82.5 79.0 J UN 86.7 86.7 89.6 88.2 69.8 87.5 83.1 87.6 90.3 92.4 85.8 88.1 86.2 JUL 89.9 89.0 92.3 91.8 77.4 88.5 89.3 90.1 92.7 95.2 89.1 91.6 89.1 AUG 91.9 91.0 94.2 93.0 81.9 89.5 90.8 91.7 93.7 96.8 92.7 92.8 91.0 SEP 93.9 92.7 95.9 94.8 84.7 92.2 93.4 94.5 95.8 98.3 94.3 94.2 93.1 OCT 95.7 94.2 97.1 95.5 86.7 95.0 94.7 95.8 96.7 99.3 98.9 95.3 97.0 NOV 96.6 94.9 97.8 96.1 87.8 96.4 95.5 97.3 97.2 99.7 99.5 96.1 98.1 DEC 97.8 98.3 98.9 97.2 89.0 98.2 98.0 98.2 97.9 100.0 100.0 97.7 99.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1968 DEC 2 5 - D E C 31 1970 JAN OR L A T E R 1/ INCLUDES O N L Y C E R T I F I C A T E S ISSUED IN D E N O M I N A T I O N S OF $100,000 OR MORE BY W E E K L Y R E P O R T I N G B A N K S . TABLE 6E 1/ 2/ 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 SINCE P R E V I O U S M O N T H WEEKLY REPORTING BANKS BY FEDERAL R E S E R V E DISTRICT AS OF 25 DEC 1968 (PERCENTAGE D I S T R I B U T I O N ) CD'S MATURING IN ALL DISTRICTS BOSTON 1968 JAN 25*0 28.1 FEB 8.0 MAR ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 16.3 26.8 18.0 20.6 33.0 25.5 1.9 5.3 4.4 1.2 10.9 5.9 12.1 37.0 9.9 28.8 22.2 25.1 30.3 25.2 24.9 2.0 3.4 6.0 4.5 11.7 4.7 1.6 6.7 5.0 0.6 4.7 2.3 8.9 4.5 3.6 7.4 5.5 3.0 4.1 22.6 23.8 15.3 17.0 20.5 24.8 21.1 29.3 24.5 16.6 19.2 1.7 3.7 0.3 18.5 0.2 3.4 1.9 0.7 1.9 0.5 0.2 1.9 1.8 1.2 2.9 0.4 2.7 1.1 3.1 1.0 0.1 2.2 0.1 0.2 1.1 SEP 2.0 2.8 2.0 0.4 4.3 1.1 0.2 2.7 1.3 6.4 0.1 0.9 1.6 OCT 0.8 2.0 0.9 0.0 0.8 0. 1 1.4 0.6 1.3 2.3 0.1 0.8 0.0 NOV 0.7 1.0 0.4 0.5 1.3 0.4 0.1 1.5 1.3 0.2 2.6 1.0 0.4 5.4 7.9 4.1 6.0 5.2 8.0 10.6 8.0 5.6 1.4 3.1 6.6 4.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 26.4 22.8 20.5 21.0 34.1 8.3 8.4 6.4 7.8 8.4 23.4 21.9 21.0 29.1 16.8 APR 4.8 6.3 3.6 9.7 MAY 3.9 2.1 4.0 J UN 20.9 16.6 JUL 3.3 AUG 1970 DEC OR LATER TOTAL * 1/ SEE T E C H N I C A L 2/ NEW YORK APPENDIX SALES IN THIS TABLE ARE NOT A D J U S T E D FOR C D ' S * DETAILS MAY NOT CHICAGO A. INCLUDES O N L Y C E R T I F I C A T E S ISSUED IN D E N O M I N A T I O N S OF NOTE - RICHMOND ATLANTA A D D TO T O T A L S DUE TO R O U N D I N G . $100,000 OR MORE BY WEEKLY R E P O R T I N G B A N K S . THAT H A V E M A T U R E D . TECHNICAL APPENDIX A DERIVATION 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 an outstanding quantity for a time period com- parable' 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 NEGOTIABIE 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 6nd of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD's mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce comparability between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold at the mid-point between surveys, the average maturity of sales would be lengthened relative to the average maturity of outstandings, by, in effect, using an earlier starting date for sales than for outstandings. Sales of CD's maturing in a particular month are often a large and highly variable proportion of total sales while changes in outstandings due in any particular month are a small and rather stable proportion of the level of total outstandings. As a result, the average maturity of sales is much more sensitive to month-to-month variation in the maturity structure of sales than is the case with the outstandings series. Thus, large changes in the calculated average maturity of sales, or situations in which the average maturity of sales differ sharply from the average maturity of outstandings. should be interpreted with care and references should be made to actual dollar sales by month. Formulas for calculation of average maturities are available on request from the Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System.
@FedFRASER