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L.4.1 CONFIDENTIAL (FR) January 9, 1970. SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF fcrL-.L k? KAN November 26, 1969. NOTE: Sales since the previous survey and comparisons with previous data reflect revisions in the October report whereby $5.1 million in outstanding negotiable CD's have been eliminated from the series . Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE VATUKITv D I S T R I B U T I O N OF OUTSTANDING WEEKLY NEGOTIABLE REPORTING AS OF CD'S MATURING 26 NOV T I M E C E R T I F I C A T E S OF 1/ D E P O S I T AT BANKS 1969 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE P R E V I O U S M O N T H 2/ ( M I L L I O N S OF D O L L A R S ) 233.0 2.1 2.1 DECEMBER 2,942.5 26.0 28.1 671.9 JANUARY 2,597.2 22.9 51.0 258.6 FEBRUARY 1,394.4 12.3 63.3 546.7 MARCH 923.0 8.2 71.5 100.5 APRIL 997.8 8.8 80.3 MAY 707.9 6.3 86.6 JUNE 263.9 2.3 88.9 JULY 290.7 2.6 91.5 8.1 AUGUST 137.4 1,2 92.7 6.9 SEPTEMBER 225.8 2.0 94.7 7.6 OCTOBER 225.2 2.0 96.7 8.6 NOVEMBER 112.9 1.0 97.7 OVER 268.2 2.4 100.0 XXX 100.0 XXX 2,249.4 1969 N O V E M B E R 197C AMOUNT ( M I L L I O N S OF DOLLARS) IN 1 27 - 30 12 M O N T H S 11,319.9 TOTAL TAX (MEMORANDUM: DECEMBER DECEMBER 1/ INCLUDES ONLY CERTIFICATES 2/ SEE APPENDIX 3/ S A L E S OF TECHNICAL 1.1 119.2 377.3 10 15 CD'S MATURING IN D E N O M I N A T I O N S A. AFTER 11 M O N T H S . AND DIVIDEND 3.3 OF $ 1 0 0 , 0 0 0 OR M O R E .0 81.0 438.5 35.2 85.7 3/ MATURITIES) XXX XXX 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 . 28.5 102.4 T A B L E 2A 1Z 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 , A N D 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 NOV CIN M I L L I O N S OF NFW CD'S MATURING 1969 DOLLARS) ALL CHICAGO YORK C I T Y S A L E S SINCE PREVIOUS MONTH AMOUNT 2/ - S A L E S SINCE PREVIOUS MONTH 2/ - OTHER WEEKLY REPORTING AMOUNT - .0 22.2 .0 182.3 .0 DECEMBER 619.1 213.0 120.3 19.1 2 , 2 0 3.1 4 39.8 JANUARY 784.8 104.8 107.0 4.2 1,705.4 149.6 FEBRUARY 343.4 206.5 71.8 24.0 979.2 316.2 MARCH 177.2 46.2 57.2 10.6 68 8.6 43.7 APRIL 253.1 1*.7 32.9 .8 71 1.8 6 0.5 MAY 193.1 108.5 21.8 8.3 493.0 321.7 JUNE 50.8 12.4 28.8 .2 184.3 22.6 JULY 64.2 1.8 36,4 .0 190.1 6.3 AUGUST 39.0 .5 4.6 .0 93.8 6.4 SEPTEMBER 53.5 .7 19.3 .0 153.0 6.9 OCTOBER 33.4 .6 9.7 .2 182.1 8.2 NOVEMBER 41.8 36.4 64.1 43.5 OVER 48. 7 XXX 17.3 XXX 202.2 XXX 2,730.6 751.1 556.3 72.8 8,03 3.0 1,42 5.5 27 - NOV 12 M O N T H S TOTAL NUMBER 30 * OF R E P O R T I N G / (MEMORANDUM: DECEMBER DECEMBER 9.6 138.6 10 15 1/ INCLUDES ONLY CERTIFICATES 2/ SEE APPENDIX TECHNICAL IN D E N O M I N A T I O N A. Digitized for 3/FRASER S A L E S OF C D ' S M A T U R I N G AFTER 11 M O N T H S . http://fraser.stlouisfed.org/ Federal Reserve * T O TBank A L S ofM St. A Y Louis N O T A O D DUE TO R O U N D I N G . TAX AND DIVIDEND MATURITIES) 2.6 70.7 OF $100,000 /3 238 11 11 BANKS 5.8 /3 7.0 /3 ' BANKS SALES SINCE PREVIOUS MONTH 2/ 28.5 1969 NOV 1970 AMOUNT IN AT OR M O R E 5.2 14.8 .3 2.6 I S S U E D BY W E E K L Y REPORTING 104.9 225.1 25.6 29.6 BANKS. v- TABLE 28 1/ MATURITY DISTRIBUTION MEN YORK OF OUTSTANDING NEGOTIABLE CITY, CHICAGO, AS OF AND 26 NOV ALL O T H E R 1969 (PERCENTAGE NEW YORK TIME C E R T I F I C A T E S OF D E P O S I T WEEKLY REPORTING A N D 29 OCT BANKS 1969 DISTRIBUTION) ALL CHICAGO CITY OTHER V U " O nn 1 Ul\ 1 'NU 1 'N 26 N O V 29 O C T 26 N O V 29 O C T 4.2 4.0 1.2 2.3 2.3 22.7 17.1 21.6 24.2 27.4 21.3 C 2 MONTHS 29.7 16.4 19.2 16.4 21.2 20.9 03 M O N T H S 12.6 27.4 12.9 16.6 12.2 18.5 04 MONTHS 6.5 5.5 10.3 7.7 8.6 7.9 05 MONTHS 9.3 5.3 5.9 7.5 8.9 7.7 06 M O N T H S 7. 1 9.4 3.9 5.2 6.1 7.7 07 MONTHS 1.9 3.4 5.2 2.2 2.3 2.0 08 MONTHS 2.4 1.5 6.5 4.6 2.4 1.9 09 M O N T H S 1.4 2.5 .8 5.9 1.2 2.2 10 M O N T H S 2.0 1.6 3.5 .7 1.9 1.0 11 M O N T H S 1.2 2.1 1.7 3.1 2.3 1.7 12 M O N T H S 1.5 1.3 1.3 1.6 .8 2.1 1.8 2.2 3.1 3.0 2.5 2.7 100.0 100.0 100.0 100.0 100.0 100.0 OF $ 1 0 0 , 0 0 0 OR M O R E IDAYS 2/ MONTHS 01 OVER 3/ 12 M O N T H S TOTAL * INCLUDES ONLY CERTIFICATES BANKS. 2/ N U M B E R OF FOLLOWING 3/ N U M B E R * 26 NOV 29 OCT 1.0 0—6 1/ AT IN D E N O M I N A T I O N S 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 THE L A S T W E D N E S D A Y OF THE M O N T H . OF M O N T H S F O L L O W I N G TOTALS M A Y N O T ADD DUE TO THE SURVEY ROUNDING. MONTH. ISSUED BY W E E K L Y R E P O R T I N G 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 OF DAYS TABLE MATURITY DISTRIBUTION NFW YORK OF OUTSTANDING CITY, CHICAGO, A S OF 2C NEGOTIABLE A N D ALL O T H E R 26 NOV 1969 1/ T I M E C E R T I F I C A T E S OF D E P O S I T WEEKLY REPORTING A N D 29 OCT AT BANKS 1969 (CUMULATIVE DISTRIBUTION! r n • C M ATI IDT MP TM NEW YORK CITY 26 N O V 0-6 2/ 26 NOV ALL 29 O C T OTHER ?6 N O V 29 O C T 1.0 4.2 4.0 1.2 2.3 2.3 23.7 21.3 25.6 25.4 29.7 23.6 02 M O N T H S 52.4 37.7 44.8 41.8 50.9 44.5 03 MONTHS 65.G 65.1 57.7 58.4 63.1 63.0 04 MONTHS 71.5 70.6 68.0 66.1 71.7 70.9 05 M O N T H S 80. 8 75.9 73.9 73.6 80.6 78.6 06 M O N T H S 87.9 85.3 77.8 78.8 86.7 86.3 07 MONTHS 89.8 88.7 83.0 81.0 89.0 88.3 18 M O N T H S 92.2 90.2 89.5 35.6 91.4 90.2 MONTHS 93.6 92.7 90.3 91.5 92.6 92.4 10 M O N T H S 95.6 94.3 93.8 92.2 94.5 93.4 11 M O N T H S 96.8 96.4 95.5 95.3 96.8 95. 1 12 M O N T H S 98.3 97.7 96.8 96 . 9 97.6 97.2 100.0 100.0 103.0 100.0 100.0 100.0 OF OR M O R E 01 09 OVER 1/ DAYS 29 OCT CHICAGO MONTHS 3/ 12 M O N T H S INCLUDES ONLY CERTIFICATES BANKS. IN D E N O M I N A T I O N S $100,000 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 FOLLOWING 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 P E R I O D V A R I E S W I T H T H E THE L A S T W E D N E S D A Y OF THE M O N T H . 3/ N U M B E R MONTHS Oc FOLLOWING THE SURVEY MONTH. N U M B E R OF DAYS TABLE 34 "-VT'JOITY 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 AT W E E K L Y R E P O R T I N G B A N K S BY SIZE OF B A N K S 2/ AS OF 26 NOV 1969 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) DEPOSIT 1/ >' $1 B I L L I O N A N D OVER CD'S MATURING 1969 NOV 1970 IN 27-30 TOTAL $2CO MILLION AND UNDER $200 M I L L I O N TO $500 M I L L I O N $500 MILLION TO $1 B I L L I O N - PRIME TOTAL 3/ OUTSIDE NEW Y O R K CITY NON-PRIME NEW YORK CITY 233.0 23.9 53.4 43.8 111.9 25.5 58.7 27.7 DECEMBER 2,942.4 250.9 511.2 579.9 1,600.4 543.5 570.6 486.3 JANUARY 2,597.1 213.9 358.4 435.6 1,589.2 733.9 458.1 397.2 FEBRUARY 1,394.3 112.8 267.0 228.7 785.8 320.1 290.0 175.7 MARCH 923.0 94.0 135.9 203.5 489.7 158.6 187.0 144.1 APRIL 997.7 78.8 159.6 194.7 564.6 235.8 185.1 143.7 MAY 707.8 63.5 141.3 136.8 366.2 160.9 100.4 104.9 JUNE 263.9 18.0 46.5 37.6 161.8 44.7 72.6 44.5 JULY 290.6 17.4 24.0 53.2 196.0 54.7 80.6 6C.5 AUGUST 137.5 8.4 20.9 14.6 93.6 34.4 40.3 18.9 SEPTEMBER 225.7 8.7 53.7 35.9 127.4 42.4 54.8 30.2 OCTOBER 225.2 4.2 23.1 26.7 171.2 32.2 112.7 26.3 NOVEMBER 112.3 5.6 14.4 13.9 78.9 41.1 21.6 16.2 DECEMBER OR L A T E R 26R.1 9.4 31.1 50.1 177.5 42.8 86.6 48.1 11,319.1 909.5 1,84U.4 2,055.0 6,514.2 2,470.6 2,319.3 1,7?4.3 TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) DECEMBER 10 119.2 20.1 27.0 21.4 50.7 9.6 25.8 15.3 DECEMBER 15 377.3 21.1 41.7 81.7 232.8 116.9 63.9 52.0 37 7 12 18 (MEMORANDUM: 260 90 NUMBER 64 OF BANKS) 49 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/ T O T A L D F P O S I T S AS 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 ON D E C E M B E R 31, 1 9 6 5 . V poI ME B A N K S ARF THOSE W H O S E 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 AND 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 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N THE S E C O N D A R Y M A R K E T . http://fraser.stlouisfed.org/ * 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 . Federal Reserve Bank of St. Louis WHICH ARE TABLE 38 SALFS /If 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 DEPOSIT SINCE P R E V I O U S MONTH 2/ AT WEEKLY R E P O R T I N G BANKS BY SIZE OF BANKS 3/ AS OF 26 NOV 1969 (AMOUNTS IN MILLIONS OF D O L L A R S ) $1 BILLION AND OVER CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 M I L L I O N $500 MILLION TO $1 BILLION - PRIME 4/ TOTAL - 1969 NOV OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 27-30 DECEMBER 671.9 59.7 86.7 137.1 388.4 179.0 108.6 100.8 258.6 21.7 41.3 25.4 170.2 104.6 25.6 40.0 FEBRUARY 546.7 45.3 91.3 63.7 346.4 200.7 87.6 58.1 MARCH 100. 6 1.8 4.7 12.4 81.7 46.1 23.9 11.7 APRIL 80.9 7.0 15.8 12.1 46.0 19.6 12.2 14.2 438.4 42.5 105.0 88.1 202.8 78.4 44.1 80.3 JUNE 35.2 2.1 2.5 2.6 28.0 12.4 8.2 7.4 JULY 8.2 1.0 2.3 0.0 4.9 1.8 0.4 2.7 AUGUST 7.0 0.6 2.2 2.1 2.1 0.5 0.7 0.9 SEPTEMBER 7.5 0.1 3.9 1.4 2.1 0.7 0.0 1.4 OCTOBER 8.6 0.5 1.4 3.3 3.4 0.6 1.8 1.0 85. 5 4.7 13.2 6.4 61.2 32.9 15.6 12.7 2,249.1 187.0 370.3 354.6 1,337.2 677.3 328.7 331.2 1970 J A N U A R Y MAY NOVEMBER OR LATER TOTAL * (MEMORANDUM: TAX AND D I V I D E N D M A T U R I T I E S ) DECEMBER 10 28.4 5.0 11.0 2.7 9.7 DECEMBER 15 102.5 2.3 4.9 28.4 66.Q L (MEMORANDUM: 260 90 2.6 55.1 1.6 5.5 3.8 8.0 12 18 NUMBER OF B A N K S ) 84 49 37 1/ SEE T E C H N I C A L APPENDIX A. 2/ 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 MORE ISSUED BY WEEKLY REPORTING B A N K S . 3/ 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. 4/ 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 D E P O S I T ARE R E G A R D E D AS BEING OF THE HIGHEST Q U A L I T Y AND WHICH D E P O R T E D BY DEALERS TO TRADE WITHIN 1 OP 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 M A Y NOT ADD DUE TO ROUNDI NO. ARE TABLE MATURITY 3C D T S T R I B U T T Q N OP 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 W E E K L Y R E P O R T I N G BANKS BY S I Z E OF B A N K S 2/ AS OF 26 NOV 1969 PERCENTAGE DISTRIBUTION 1/ SI B I L L I O N A N D O V E R CD'S 1969 1970 MATURING IN TOTAL $200 MILLION AND U N D E R $200 M I L L I O N TO $500 M I L L I O N $500 MILLION TO $1 B I L L I O N PRIME 3/ TOTAL NEW Y O R K CITY OUTSIDE NEW YORK CITY NON-PRIME 2.1 2.6 2.9 2.1 1.7 1.0 2.5 1.6 DECEMBER 26.0 27.6 27.8 28.2 24.6 22.0 24.6 28.2 JANUARY 22.9 23.5 19.5 21.2 24.4 29.7 19.8 23.0 FEBRUARY 12.3 12.4 14.5 11.1 12.1 13.0 12.5 10.2 MARCH 8.2 10.3 7.4 9.9 7.5 6.4 8.1 8.4 APRIL 9.8 9.7 8.7 9.5 8.7 9.5 8.0 8.3 MAY 6.3 7.0 7.7 6.7 5.6 6.5 4.3 6.1 JUNE 2.3 2.0 2.5 1.8 2.5 1.8 3.1 2.6 JULY 2.6 1.9 1.3 2.6 3.0 2.2 3.5 3.5 AUGUST 1.2 0.9 1.1 0.7 1.4 1.4 1.7 1.1 SEPTEMBER 2.0 1.0 2.9 1.7 2.0 1.7 2.4 1.8 OCTOBER 2.0 0.5 1.3 1.3 2.6 1.3 4.9 1.5 NOVEMBER 1.0 0.6 0.8 0.7 1.2 1.7 0.9 0.9 DECEMBER OR LATER 2.4 1.0 1.7 2.4 2.7 1.7 3.7 2.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 NOV 27-30 TOTAL * f M f* M O D A M 1 1M • T AAND V DIVIDEND MATURITIES) DECEMBER 10 1.1 2.2 1.5 1.0 0.8 0.4 1.1 0.9 DECEMBER 15 3.3 2.3 2.3 4.0 3.6 4.7 2.8 3.0 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 OR M O R E ISSUED BY W E E K L Y R E P O R T I N G 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 R E P O R T OF C O N D I T I O N ON D E 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 T H O S E W H O S F 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 E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N T H E 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 O T A D D DUE TO R O U N D I N G . WHICH ARE TABLE 30 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 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 W E E K L Y R E P O R T I N G BANKS BY SIZE OF B A N K S 2/ AS OF 26 NOV 1969 CUMULATIVE PERCENTAGE 1/ $1 B I L L I O N A N D OVER CD'S MATURING IN TOTAL S2CC MILLION AND UNDER $200 MILLION TO $500 M I L L I O N $500 M I L L I O N TN $1 B I L L I O N — PRIME TOTAL NEW Y O R K CITY 1 9 6 9 NOV 27-30 3/ OUTSIDE NEW YORK CITY NON-PRIME 2.1 2.6 2.9 2.1 1.7 1.0 2.5 1.6 28.1 30.2 30.7 30.3 26.3 23.0 27.1 29.P 51.0 53.7 50.2 51.5 50.7 52.7 46.9 52.8 FEBRUARY 63.3 66. 1 64.7 62.6 62.8 65.7 59.4 63.0 MARCH 71.5 76.4 72.1 ?2.5 70.3 72.1 67.5 71.4 APRIL 80.3 85.1 80.8 82.0 79.0 81.6 75.5 79.7 MAY 86.6 92.1 88.5 88.7 84.6 88.1 79.8 85.8 JUNE 88.9 94.1 91.0 90.5 87.1 89.9 82.9 88.4 JULY 91.5 96.0 92.3 93.1 90.1 92.1 86.4 91.9 AUGUST 92.7 96.9 93.4 93.8 91.5 93.5 88.1 93.0 SEPTEMBER 94.7 97.9 96.3 95.5 93.5 95.2 90.5 94.8 OCTOBER 96.7 98.4 97.6 96.8 96.1 96.5 95.4 96.3 NOVEMBER 97.7 99.0 98.4 97.5 97.3 98.2 96.3 97.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OECFMBFR 1970 J A N U A R Y DECEMBER 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 OF $ 1 0 0 , O C C OR M O R E ISSUED BY W E E K L Y R E P O R T I N G R 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 R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 . 3/ P R I M E B A N K S ARE T H O S E 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 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 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 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N T H E S E C O N D A R Y M A R K E T . ARE TABLE SALES 3E /!/ 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 D E P O S I T SINCE 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/ AS OF 2 6 NOV 1969 PERCENTAGE DISTRIBUTION MONTH 2/ SI B I L L I O N $200 CD'S MATURING 1969 1970 NOV IN TOTAL MI LLION A N D UNDER $500 $200 M I L L I O N TO $500 M I L L I O N $1 MILLION TO BILLION AND OVFR PRIME 4/ - NEW YORK CITY OUTSIDE NEW YORK CITY TOTAL NON-PRIME 27-30 DECEMBER 29.9 31.9 23.4 38.7 29.0 26.4 33.0 30.4 JANUARY 11. 5 11.6 11.2 7.2 12.7 15.4 7.8 12.1 FEBRUARY 24.3 24.2 24.7 18.0 25.9 29.6 26.7 17.5 MARCH 4.5 1.0 1.3 3.5 6.1 6.8 7.3 3.5 APRIL 3.6 3.7 4.3 3.4 3.4 2.9 3.7 4.3 19.5 22.7 28.4 24.8 15.2 11.6 13.4 24.2 MAY 1.6 1.1 0.7 0.7 2. 1 1.8 2.5 2.2 JUNE 0.4 0.5 0.6 0.0 0.4 0.3 0.1 0.8 JULY 0.3 0.3 0.6 0.6 0.2 0.1 0,2 0.3 AUGUST SEPTEMBER 0.3 0.1 1.1 0.4 0.2 0.1 0.0 0.4 0.4 0.3 0.4 0.9 0.3 0.1 0.5 0.3 OCTOBER NOVEMBER OR L A T E R 3.8 2.5 3.6 1.8 4.6 4.9 4.7 3.8 100.0 100.C TOTAL * 100.0 100. C (MEMORANDUM: TAX 100.0 100.0 100.0 100.0 AND DIVIDEND MATURITIES) 2.7 3.0 0.8 0.7 0.4 1.7 10 1.3 0.5 DECEMBER 15 4.6 1.2 U3 9.0 5.0 8.1 1.2 2.4 DECEMBER z (MEMORANDUM: 90 260 R E P O R T E D BY C E A L F P S TO TRADt W l i H i N * T O T A L S M A Y N O T A D D DUE TO R O U N D I N G . ' "" ' — NUMBER 84 - — — OF BANKS) 49 ------ 37 18 12 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 SECONDARY MARKET. ARE TABLE 44 AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE AT WEEKLY TIME CERTIFICATES REPORTING AT V A R I O U S SURVEY OF DEPOSIT 1/ BANKS DATES (IN M O N T H S ) D A T E OF BANK CLASSIFICATION 26 NOV 1969 2 9 - OCT SURVEY 1969 2 4 SEP 1969 (BY L O C A T I O N ) ALL REPORTING BANKS ISSUING C D ' S 3.2 3.3 3.4 CITY 3.2 3.4 3.7 CHICAGO 3.6 3.7 3.9 OTHER 3.2 3.3 3.3 NEW YORK $200 MILLION r\> UNDER 2/ 2.9 2.9 3.1 3.0 3.0 $500-$!t 000 3.1 3.3 3.3 3.3 3.5 3.7 3.1 3.3 3.6 3.7 3.8 4.0 3.2 3.3 3.4 MILLION $1 B I L L I O N PRIME IN N E W PRIME OUTSIDE YORK CITY 3/ NEW YORK CITY 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME BANKS ARE BANK) $2C0-$500 MILLION OVER AS S I Z E OF 00 (BY IN D E N O M I N A T I O N S REPORTED THOSE WHOSF IN THE CALL NEGOTIABLE OF $100,000 REPORT OF OR "ORE ISSUED C O N D I T I O N ON CERTIFICATES OF DEPOSIT BY W E E K L Y DECEMBER ARE 31, REPORTING BANKS. 1965. R E G A R D E D AS B E I N G OF THE HIGHEST QUALITY AND W H I C H A R E R E P O R T E D BY D E A L E R S T O T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H OTHER W I T H I N T H E S E C O N D A R Y M A R K E T . TABLE AVERAGE 4B MATURITY OF NEGOTIABLE SOLO TIME BY DURING CERTIFICATES WEEKLY THE MONTH (IN OF REPORTING OF DEPOSIT BANKS VARIOUS SURVEYS MONTHS) DATE OF BANK NOV 29-OCT 1969 (BY REPORTING LOCATION) 3.9 3.0 3.1 4. 6 CHICAGO 3.3 2.8 5.3 OTHER 3.2 3.5 3.6 YORK CITY S I Z E OF 3.4 $2no-$500 MILLION 3.5 4.0 3.4 $500~$1,000 MILLION 3.0 3.4 3.6 OVER 3.1 3.1 4.2 3.0 3.1 4.5 3.0 2.9 4.3 BILLION IN NEW PRIME OUTSIDE YORK CITY 3/ NEW YORK CITY 3/ 3.8 PRIME BANKS ARE DENOMINATIONS REPORTED THOSE WHOSE IN THE CALL NEGOTIABLE TO T R A D E W H I C H A R E R E P O R T E D B Y D E A L E R S http://fraser.stlouisfed.org/ NO T E —ofS St. E E Louis T E C H N I C A L A P P E N D I X 9. Federal Reserve Bank OF $100,000 REPORT OF OR MORE CONDITION ISSUED ON BY W E E K L Y DECEMBER 31, I 1 1 I 1 I I 1 !1 1 L I ?/ IN I UI I 1 I 1 1 3.3 I W SI MILLION PRIME CERTIFICATES AS 2/ 3.3 $2CO NON-PRIME DEPOSITS BANK) 3.0 UNDER THTAL I960 3.3 CD S (BY 2/ SEP 3.1 NEW INCLUDES 24 1969 BANKS 1 ISSUING 1/ SURVEY CLASSIFICATION 26 ALL 1/ REPORTING BANKS. 1965, 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 W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N THE S E C O N D A R Y M A R K E T . T A B L E 5A XATI3 1C O U T S T A N D I N G NEGOTIABLE TO TOTAL Tl^f C E R T I F I C A T E S OF D E P O S I T 1/ DEPOSITS AT V A R I O U S SURVEY DATES (PER C E N T ) DATE OF SURVEY TOTAL D E P O S I T S 2/ (IN MILLIONS OF D O L L A R S ) 24 SEP 1969 ISSUING 5.4 5.6 2CO 5.9 6.1 6.5 200 - 500 5.9 6.2 6.7 500 - 1000 5.5 5.7 6.3 OVER 5.0 5.1 5.0 4.5 3.8 CO 5.2 6.8 7.1 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW YORK 3/ 4.4 NONPRIME 6.6 INCLUDES C E R T I F I C A T E S 2/ TOTAL 1969 5.3 UNDER 1/ 29 OCT *4- BANKS CD'S 1969 00 ALL 26 NOV DEPOSITS 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 C A L L $lf0,000 REPORT OF OR MORE ISSUED BY WEEKLY R E P O R T I N G B A N K S . CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS 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 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 . I* THE D E N O M I N A T O R OF THE RATIO INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN THIS 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 T4BIF R A T I O OF O U T ST A N D I N G NEGOTIABLE 5B TIMF C F R T I F I C A T E S TO T O T A L AS OF TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD' S OF 5% OR LESS 2/ DOLLARS) 5 TO 10* DEPOSIT 1/ DEPOSITS 26 NOV (NUMBER OF OF 1969 BANKS) 15 TO 20% 10 TO 15% AVERAGE CD TO DEPOSIT R A T I O (PER C E N T ) 25% OR MORE 2C TO 2 5% ISSUING 137 77 29 15 1 1 5.3 UNDER 200 50 20 14 4 1 1 5.9 200 - 50C 40 28 9 7 0 0 5.0 500 - 1000 29 15 2 3 0 0 5.5 18 14 4 1 0 0 5.0 4 3 G 0 0 0 4.8 7 4 1 0 0 0 4.4 7 7 3 1 0 0 6.6 OVER 1000 PRIME IN N E W PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIMF 1/ INCLUDES CERTIFICATES 2/ TOTAL 3/ P R I M E WHICH NOTE- Z DEPOSITS 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 $100,000 REPORT OF OR M O R E CONDITION I S S U E D BY W E E K L Y ON DECEMBER 31, REPORTING BANKS. 1965. B A N K S ARE T H O S E 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 A R E R E G A R D E D AS B E I N G O F THE H I G H E S T Q U A L I T Y A N D ARE R E P O R T E D B Y D E A L E R S T O T R A D E W I T H I N 1 O R 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . 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 DEMAND AND TIME DEPOSITS, INCLUDING T A B L E 5C D ER 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 TI MP C E R T I F I C A T E OF DEPOSIT /I 29 OCT 1969 TO 26 NOV 1969 (NUMBER OF B A N K S ) D E C L I N E S OF TOTAL D E P O S I T S 2/ REDUCED CD'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% INCREASES OF 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10% OR MORE ISSUED C D ' S BUT HAD NONE O U T S T A N D ING ON BASE DATE ISSUING 2 71 44 54 22 32 19 18 0 200 1 27 14 14 11 12 5 7 0 200 - 500 1 21 12 18 9 13 6 5 0 500 - 0 15 11 11 2 3 5 2 0 0 8 7 11 0 4 3 4 0 0 0 0 2 0 2 1 2 0 0 4 5 2 0 0 0 1 0 0 4 2 7 0 2 2 1 0 UNDER OVER 1000 1000 PRIME IN NEW YORK 3/ PRIME O U T S I D E NEW YORK 3/ NONPRIMF 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS 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 OP MORE REPORT OF ISSUED BY WEEKLY REPORTING B A N K S . CONDITION ON DECEMBER 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 APE "EPOP TED BY DEALERS T O T R A D E W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY M A R K E T . NOTE- / THE NUMBER OF BANKS IN THIS TABLE D I F F E R S FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT B A N K S THAT HAD O U T S T A N D I N G CD'S ON 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 . T A B L E 50 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 27 AUG 1969 TIME C E R T I F I C A T E OF D E P O S I T TO 26 NOV Zl 1969 (NUMBER OF B A N K S ) TOTAL REDUCED C D ' S 25% TO OR ZERO MORE D E P O S I T S /2 (IN M I L L I O N S ALL B A N K S CD'S OF D O L L A R S ) 20 15 TO TO 25% 10% 5% OR LESS 5 TO 10 TO 15% 20% ISSUING 67 INCREASE OF D E C L I N E S OF 25 32 31 23 23 NO CHANGE 5% OR LESS 5 TO 10% 11 10 20 15 TO 10 TO 15% 25% OR MORE TO 25% 20% ISSUED C D • S BUT H A D NONE OUTSTANDING ON BASE DATE 13 200 4 18 * 7 6 11 4 13 4 6 6 4 3 f> 6 2 200 - 500 2 23 6 13 9 11 7 3 4 2 0 0 1 3 2 500 - 1 20 8 6 4 6 2 1 0 0 0 0 1 1 0 0 6 4 7 7 2 1 0 1 2 1 1 2 3 0 0 0 0 0 0 0 0 0 0 2 1 1 1 2 0 0 3 2 3 4 0 0 0 0 0 0 0 0 0 0 0 3 2 4 3 2 1 0 1 G 0 0 I 1 0 UNDER OVER 1000 10CC PRIME IN NEW YORK 3/ P R I M E 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/ T O T A L D E P O S I T S 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 $100,000 OR MORE REPORT OF ISSUED BY W E E K L Y R E P O R T I N G C O N D I T I O N ON DECEMBER 31, BANKS. 1965. 3/ PRIME R A N K S ARE THOSE WHOSE N E G O T I A B L E CERTIFICATES 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 DEALERS 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- THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER T A B L E S TO THE E X T E N T THAT BANKS THAT H A D O U T S T A N D I N G C D ' S O N THE SURVEY THREE MONTHS PRIOR TO THE C U R R E N T 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 Z E R O . T A B L E 5F CHANGE IN O U T S T A N D I N G N E G O T I A B L E TIME CERTIFICATES OF D E P O S I T OVER THF 1/ MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE B E G I N N I N G OF T H E 2° OCT 1969 TO 26 NOV PERIOD 1969 (NUMBER OF B A N K S ) TOTAL D E P O S I T S 2/ DECLINES OF (IN MILL IONS OF D O L L A R S ! ALL BANKS CD'S 3X AND OVER 2 TO 356 I N C R E A S E S OF 1 TO 2% 1% ANO LESS NO CHANGE 1% AND LESS 1 TO 2% 2 3* AND OVER TO 3% ISSUING I 4 21 146 22 58 5 2 1 200 0 0 11 46 11 19 1 1 1 200 - 500 1 3 6 42 9 20 3 500 - 0 0 3 34 2 9 0 10 UNDER OVER 1000 10C0 PRIME 0 IN NEW YORK 3/ P R I M E O U T S I D E NEW YORK 0 3/ NONPRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 1 1 0 0 2 4 2 0 1 1 0 0 0 0 4 1 0 0 0 0 0 11 0 1 0 0 0 O i l 11 0 5 0 0 0 IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE D E P O S I T S AS R E P O R T E D 0 0 IN THE C A L L REPORT OF ISSUED BY WEEKLY R E P O R T I N G B A N K S . CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS 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 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 INTERBANK ANO 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 ANO T I M E D E P O S I T S , INCLUDING TABLE CHANGE n VFR IN O U T S T A N D I N G THE 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 LAST T H R E E M O N T H S AT THE AS A PER C E N T B E G I N N I N G OF 27 AUG 1069 (IN ALL DEPOSITS MILLIONS BANKS CD'S OF OF OF T O T A L DEPOSIT 1/ DEPOSITS PERIOD 1969 BANKS) I N C R E A S E S OF D E C L I N E S OF 2/ DOLLARS) THE TO 26 NOV (NUMBER TOTAL 5F 5% AND OVER 4 TO 5% ISSUING 3 TO 4% 1 TO 2% 2 TO 3% 1% AND LESS NO CHANGE 1% AND UNDER 5% AND OVER 4 TO 5% 3 TO 4% 2 TO 3% 1 TO 2% 5 9 11 32 44 102 8 35 5 2 1 2 0 UNDER 200 2 0 2 11 7 38 4 20 1 2 0 1 0 200 - 500 2 5 6 10 14 33 3 8 0 0 0 1 0 500 - 1000 0 4 3 7 13 19 1 0 2 0 0 0 0 1 0 0 4 10 12 0 7 2 0 1 0 0 3/ 0 0 0 0 0 0 0 5 1 0 1 0 0 YORK 3/ 0 0 0 3 5 4 n 0 0 0 0 0 0 1 0 0 1 5 9 0 2 1 0 0 0 0 OVER 1000 PRIME IN NEW YORK t>R T ME O U T S I D E NEW N O N P R I ME 1/ INCLUDES CERTIFICATES 2/ T O T A L DEPOSITS 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 $100,000 REPORT OF OR M O R E CONDITION ISSUED BY W E E K L Y R E P O R T I N G ON D E C E M B E R 31. BANKS. 1965. 3/ P R I M E B A N K S ARE T H O S E 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 W H I C H 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 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N 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 TN 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. GOVERNMENT DEPOSITS. IN T H I S T A B L E ARE TOTAL D E M A N D AND TIME DEPOSITS, INCLUDING TABLE 66 MATURITY DISTRIBUTION 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 AT W E E K L Y 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 D I S T R I C T AS (AMOUNTS 26 NOV IN M I L L I O N S 1/ 1969 OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 32.2 6.5 0.9 10.4 29.9 54.8 115.5 307.7 80.9 30.9 91.4 248.0 647.6 62.9 106. 1 245.9 48.4 30.2 51.0 288.0 521.6 104.3 37.6 74.6 150.2 31.2 8.5 67.6 114.1 285.4 22.1 50.7 39.8 34.7 114. 1 31.8 4.7 17.9 112.5 204.4 311.8 24.4 72.6 39.2 41.9 91.4 40.3 5.0 26.6 110.1 213.9 13.0 235.0 19.0 28.2 15.5 35.0 70.5 27.0 3.2 38.3 80.6 142.7 264. 1 16.2 63.4 8.1 23.4 10.5 9.3 53.5 4.5 1.5 5.9 12.6 55.2 JUL 290.5 8.5 80.6 14.8 29.6 5.2 6.8 43. 8 3.1 0.7 5.3 33.4 58.7 AUG 137.6 5.7 45.6 4.5 17.2 3.2 3.3 16.6 2.3 0.0 2.0 6.5 30.7 SEP 226.0 7. 1 60.0 5.9 33.4 38.8 4.7 25.2 4.1 1.0 4.0 8.3 33.5 OCT 225.3 9. 2 38. 9 13.5 74.8 12.4 2.1 15.8 3.3 0.8 1.2 11.7 41.6 NOV 112.9 0. 5 48.2 9.5 4. 1 6.1 1.4 12.3 1.9 2.2 1.3 7.2 18.2 268. 0 8.0 66.1 5.1 86.2 7.6 9.2 35.6 1.1 5.0 1.1 10.4 32.6 11320.1 483.2 3542.3 285.3 829.0 458.2 1223.8 286.4 94.6 324.0 1073.3 2340.9 AVERAGE MATURITY IN M O N T H S 2/ 3.1 2.5 3.0 3.8 4.8 3.9 2.8 3.3 2.9 2.8 2.7 2.9 2.9 DUMBER BANKS 260 17 45 10 19 15 23 37 11 5 21 24 33 CD'S MATURING IN ALL DISTRICTS BOSTON 233.0 7.2 DEC 2942.4 1 9 7 0 J AN 1969 PHILADELPHIA CLEVELAND 45.9 2.4 20. 3 8.9 13.6 190.8 921.7 61.2 155. 3 91.4 2597. 1 100.1 (=51.5 62.5 128.9 FEB 1394.4 55. 9 423. 8 32.3 MAR 923.C 40.5 249.8 APR 997.8 20.6 MAY 708.0 JUN NOV 27 -NOV D E C OR TOTAL 30 LATER * OF REPORTING 1/ INCLUDES ONLY CERTIFICATES 2/ SEE T E C H N I C A L * OF DEPOSIT DETAILS MAY NOT APPENDIX ADD TO ISSUED NEW YORK IN D E N O M I N A T I O N S 9. T O T A L S OUF TO P O U N D I N G . OF RICHATLANTA MOND 379 . 1 $ 1 0 0 , 0 0 0 OR M O R E CHICAGO BY W E E K L Y REPORTING BANKS. . T A B L E 68 1/ SALES 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 DEPOSIT SINCE P R E V I O U S MONTH WEEKLY REPORTING BANKS BY FEDERAL R E S E R V E D I S T R I C T AS OF 26 NOV 1969 (AMOUNTS IN MILLIONS OF ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 45.5 9.5 4.6 11.5 39.6 170.7 5.2 17.1 1.4 0.6 3.2 7.2 70.7 11.6 28.2 41.8 11.8 3.3 33.6 31.8 83.6 l.C 1.3 5.3 14.5 0.7 0. 1 0.0 1.7 20.2 4.9 2.5 4.3 5.0 1.0 0.2 1.7 6.0 23.2 138.7 8.0 15. 1 11.6 26.7 42.5 18.8 2.5 32.7 47.3 88.4 0.3 13.0 0.0 5.0 2.3 0.0 1.1 2.5 0.0 0.9 0.2 9.9 8. 1 0.0 1.8 0.0 0.0 1.2 0.4 1.1 0.0 0.0 0.0 0.8 2.8 AUG 6.9 1.5 1.3 0.0 0. 1 0.1 1.0 1.4 0.0 0.0 0.1 0.0 1.4 SEP 7.7 0.6 0.9 0.0 0.0 1.0 2.8 0. 1 0.0 0.0 0.6 1.0 0.7 OCT 8.6 0.6 1.1 0. 1 0.6 1.0 0.1 0.2 0.0 0.2 0.2 2.2 2.3 85.7 0.6 40.8 2.9 1.3 5.5 1.5 9.8 1.1 0.1 1.3 4.3 16.5 2249.6 73.3 919.4 57.0 74.0 68.8 99.5 180.9 46.8 11.6 85.8 142. 1 490.4 3. 1 2.4 2.9 3.1 3.2 3.7 3.4 3.4 3.8 2.6 3.7 3.5 2.9 CD'S MATURING IN ALL DISTRICTS BOSTON 1969 DEC 671.9 27.5 1970 JAN 258.7 FFB PHI LADELPHI A CLEVELAND 284.6 14.4 18.9 21.8 23.3 4.7 128.9 8.5 4. 1 7.1 546. 8 27.2 235.7 12.8 25.4 MAR 100.6 2.3 48.1 5.4 APR 81.1 2.0 24,5 MAY 438.3 6.0 J UN 35.2 JUL NOV OR LATER TOTAL * AVERAGE MATURITY IN M O N T H S 3/ 1/ SEE T E C H N I C A L 2f APPENDIX D E T A I L S MAY NOT APPENDIX NEW YORK RICHATLANTA MOND CHICAGO 5. 8 A. INCLUDES O N L Y C E R T I F I C A T E S 3/ SEE T E C H N I C A L * COLLARS) ISSUED IN D E N O M I N A T I O N S OF B. ADD TO T O T A L S DUE,TO R O U N D I N G . $100,000 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 . TABLE 6C "ATURITY HISTOI9UTI0N QF 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 REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T AS OF 26 NOV 1/ 1969 (PERCENTAGE D I S T R I B U T I O N ) CD1S MATURING IN ALL DISTRICTS ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO BOSTON 2.1 1.5 2.6 2.3 1.0 3.2 2.8 2.3 DEC 26.C 25.2 25.1 28.2 32.7 28.2 23.1 27.7 1970 JAN 16.6 23.2 20.1 16.9 31.9 15.7 26.8 22.3 12.6 9.9 16.3 13.0 10.9 9.0 20.9 10.6 12.2 7.7 6. 1 10.5 7.6 9.3 11.1 5.0 5.5 10.5 8.7 8.8 8.6 8.8 10.3 9.1 7.5 14.1 5.3 8.2 10.3 9. 1 2.7 6.6 6.7 3.4 4.1 7.6 5.8 9.4 3.4 11.8 7.5 6.1 2.3 3.4 1.8 2.8 2.8 2.8 2.0 4.4 1.6 1.6 1.8 1.2 2.4 JUL 2.6 1.8 2.3 5.2 3.6 1.4 1.5 3.6 1.1 0.7 1.6 3.1 2.5 AUG 1.2 1.2 1.3 1.6 2. 1 0.8 0.7 1.4 0.8 0.0 0.6 0.6 1.3 SEP 2.C 1.5 1.7 2.1 4.0 10.2 1.0 2. 1 1.4 1.1 1.2 0.8 1.4 OCT 2.0 1.9 1.1 4.7 9.0 3.3 0.5 1.3 1.2 0.8 0.4 1.1 1.8 NOV 1.0 0.1 1.4 3.3 0.5 1.6 0.3 1.0 0.7 2.3 0.4 0.7 0.8 DEC OR LATER 2.4 1.7 1.9 1.8 10.4 2.0 2.0. 2.9 0.4 5.3 0.3 1.0 1.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 1.3 0.8 2.4 2.3 3.0 3?9.5 26.0 21.5 18.7 24.1 22.9 20.7 26.9 21.9 15.5 FEB 12.3 111.5 12.0 11.3 MAR 8.2 8.4 7. 1 APR 8. 8 4.3 MAY 6.3 JUN 1969 NOV TOTAL 1/ 27'-NOV * 30 INCLUDES O N L Y C E R T I F I C A T E S NEW YORK ISSUED IN D E N O M I N A T I O N S OF RICHMOND ATLANTA 100.0 CHICAGO $100,000 OR M O R E BY WEEKLY REPORTING B A N K S . T A B L E 6D MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 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 AS OF 2 6 NOV (CUMULATIVE PERCENTAGE) MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 2.6 2.3 1.0 3.2 2.8 2.3 28.2 27.7 30.5 33.7 31.4 25.9 30.0 43.0 51.4 47.8 47.4 65.6 47.1 52.7 52.3 49.2 52.9 67.7 60.9 58.3 74.6 68.0 63.3 64.5 63.2 55.3 63.4 75.3 70. 1 69.4 79.6 73.5 73.8 73.2 82.1 71.8 64. 1 73.7 84.4 77.6 83.5 84.9 81.7 84.1 82.3 88.6 88.7 78.5 67.5 77.8 92.0 83.4 92.9 88.3 93.5 91.6 88.4 98.9 92.0 90.5 81.3 70.3 80.6 94.0 87.8 94.5 89.9 95.3 92.8 90.8 JUL 91.5 93.8 92.8 86.5 73.9 82.0 95.5 91.4 95.6 90.6 96.9 . 95.9 93.3 AUG 92. 7 95.0 94.1 88.1 76.0 82.8 96.2 92.8 96.4 90.6 97.5 96.5 94.6 SEP 94.7 96.5 95.8 90.2 81.0 93.0 97.2 94.9 97.8 91.7 98.7 97.3 96.0 OCT 96.7 98.4 96.9 94.9 89.0 96.3 97.7 96.2 99.0 92.5 99.1 98.4 97.8 NOV 97.7 98.5 98.3 98.2 89.5 97.9 98.C 97.2 99.7 94.8 99.5 99.1 98.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 IN ALL DISTRICTS BOSTON 2.1 1.5 DEC 28.1 JAN PHILADELPHIA CLEVELAND RICHMOND ATLANTA 1.3 0.8 2.4 2.3 3.0 41.0 27.3 22.3 21. 1 26.4 51.0 61.7 54.2 44.2 36.6 FEB 63. 3 73.2 66.2 55.5 MAR 71.5 81.6 73.3 APR 80.3 85.9 MAY 86. 6 JUN 1969 NOV DEC 1/ 1969 ST. LOUIS CO* s M A T U R I N G 1970 1/ 27--NOV OR 30 LATER INCLUDES ONLY CERTIFICATES ISSUED NEW YORK IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE CHICAGO BY W E E K L Y REPORTING BANKS. T A B L E 6E 1/ SALFS NEGOTIABLE 2/ C E R T I F I C A T E S OF D E P O S I T SINCE P R E V I O U S MONTH WEEKLY REPORTING BANKS BY F E D E R A L R E S E R V E D I S T R I C T TIME AS OF 2 6 NOV (PERCENTAGE CO1S M A T U R ING IN ALL DISTRICTS BOSTON 1<>69 OFC 29.9 37.5 JAN1 11.5 FEB 1970 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 25.2 20.3 39.7 13.4 27.9 34.8 5.2 9.5 3.0 5.2 3.7 5.1 14.4 16.9 28.3 23.1 25.2 28.4 39.2 22.4 17.0 1.4 1.9 5.3 8.0 1.5 0.9 0.0 1.2 4.1 8.6 3.4 6.3 5.0 3.2 2.1 1.7 2.0 4.2 4.7 15.1 14.0 20.4 16.9 26.8 23.5 40.2 21.6 38.1 33.3 18.0 0,4 1.4 0.0 6.8 3.3 0.0 0.6 5.3 0.0 1.0 0. 1 2.0 0.4 0.0 0.2 0.0 0.0 1.7 0.4 0.6 0.0 0.0 0.0 0.6 0.6 AUG 0.3 2.0 0. 1 0.0 0.1 0.1 1.0 0.8 0.0 0.0 0.1 0.0 0.3 SEP 0.3 0.8 0.1 0.0 0.0 1.5 2.8 0. 1 0.0 0.0 0.7 0.7 0.1 OCT 0.4 0.8 0.1 0.2 0.8 1.5 0.1 0.1 n .n 1.7 0.2 1.5 0.5 3.8 0.8 4.4 5.1 1.8 8.0 1.5 5.4 2.4 0.9 1.5 3.0 3.4 100.0 100.0 100.0 100.0 100.0 100.C 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OR M O R E BY W E E K L Y CLEVELAND 31.0 25.3 25.5 31.7 23.4 6.4 14.0 14.9 5.5 10.3 24. 3 37.1 25.6 22.5 34.3 MAR 4.5 3.1 5.2 9.5 APR 3.6 2.7 2.7 MAY 19.5 8.2 J UN 1.6 JUL OR LATER * 1/ SEE T E C H N I C A L 2/ INCLUDES ONLY CERTIFICATES NpTE * DISTRIBUTION) PHILADELPHIA NOV TOTAL 1969 - SALES DETAILS APPENDIX TN THIS T A B L E MAY NOT ADO NEW YORK RICHMOND ATLANTA CH I — CAGO A. ISSUED ARE N O T IN D E N O M I N A T I O N S OF $100,000 A D J U S T E D FOR C D ' S T H A T H A V E TO T O T A L S DUE TO R O U N D I N G . MATURED. REPORTING BANKS. 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 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 comparibility 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.