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L.4.1 CONFIDENTIAL (FR) July 19, 1974 IE: SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS as of June 26, 1974 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS AS OF 26 JUN 1974 SALES SINCE PREVIOUS MONTH 2/ (MILLIONS OF DOLLARS) AMOUNT (MILLIONS OF DOLLARS) PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE 4,493.4 5.6 5.6 .0 JULY 31,455.5 39.3 44.9 11,449.3 AUGUST 17,456.9 21.8 66.7 5,930.3 SEPTEMBER 12,023.1 15.0 81.7 6,754.6 OCTOBER 5,637.1 7.0 88.7 2,708.1 NOVEMBER 2,281.2 2.8 91.5 785.1 DECEMBER 1,830.5 2.3 93.8 943.5 1,019.8 1.3 95.1 206.8 FEBRUARY 620.9 .8 95.9 31.2 MARCH 784.9 1.0 96.9 56.1 APRIL 767.0 1.0 97.9 39.3 MAY 414.6 .5 98.4 52.0 JUNE 333.4 .4 98.8 995.1 1.2 100.0 XXX 80,113.6 100.0 XXX 29,255.2 CD'S MATURING IN 1974 JUNE 27 - 30 1975 JANUARY OVER 12 MONTHS TOTAL (MEMORANDUMS SEPTEMBER SEPTEMBER K 16 699.1 1,210.8 298.9 3/ TAX AND DIVIDEND MATURITIES) .9 1.5 XXX XXX 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER 11 MONTHS. TABLE 2A 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO , AND ALL OTHER WEEKLY REPORTING BANKS AS OF 26 JUN 1974 (IN MILLIONS OF DOLLARS) AMOUNT CD'S MATURING IN ALL OTHER WEEKLY REPORTING BANKS CHICAGO NEW YORK CITY SALES SINCE PREVIOUS MONTH 2/ AMOUNT AMOUNT SALES SINCE PREVIOUS MONTH 2/ SALES SINCE PREVIOUS MONTH 2/ 1,325.2 .0 354.6 .0 2,813.6 .0 10,313.6 3,433.9 3,630.5 934.6 17,511.3 7,060.7 AUGUST 6,204.8 1,938.7 1,827.0 577.9 9,425.2 3,413.7 SEPTEMBER 4,518.3 2,809.7 1,462.9 973.4 6,041.9 2,971.5 OCTOBER 1,892.3 944.4 841.1 591.9 2,903.7 1,171.7 NOVEMBER 633.5 267.1 255.9 173.1 1,391.9 345.0 DECEMBER 531.9 361.9 299.7 195.1 998.9 386.6 138.2 33.3 81.1 37.1 800.5 136.4 19.7 4.3 6.8 1.6 594.5 25.4 MARCH 113.7 25.8 30.4 1.6 640.8 28.8 APRIL 68.4 18.8 4.4 .7 694.2 19.8 MAY 38.4 17.6 3.2 .3 373.0 34.6 1974 JUN 27 - JUN 30 JULY 1975 JANUARY FEBRUARY 100.0 /3 104.1 JUNE 13.8 /3 219.7 11.5 XXX 904.8 XXX 25,980.8 9,955.5 8,819.7 3,500.5 45,313.0 15,799.2 11 10 16 263.2 587.2 TAX AND DIVIDEND MATURITIES) 85.2 41.2 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATION OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER 11 MONTHS, * TOTALS MAY NOT ADD DUE TO ROUNDING. 239 11 (MEMORANDUM: 185.0 /3 XXX NUMBER OF REPORTING BANKS SEPTEMBER SEPTEMBER 10.6 78.7 OVER 12 MONTHS TOTAL * — • 350.7 582.5 TABLE 2B 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 26 JUN 1974 AND 29 MAY 1974 (PERCENTAGE DISTRIBUTION) >eS MATURING IN NEW YORK CITY 26 JUN 0-6 DAYS 1 2/ ALL OTHER CHICAGO 29 MAY 26 JUN 29 MAY 26 JUN 29 MA^ 5.1 4.4 4.0 5.7 6.2 4.9 01 MONTHS 3/ 39.7 38.2 41.2 33.5 38.6 36.8 02 MONTHS 23.9 26.9 20.7 33.0 20.8 22.8 03 MONTHS 17.4 16.7 16.6 15.3 13.3 13.1 04 MONTHS 7.3 6.7 9.5 6.0 6.4 6.7 05 MONTHS 2.4 3.7 2.9 3.1 3.1 3.8 06 MONTHS 2.0 1.4 3.4 1.0 2.2 2.3 07 MONTHS .5 .7 .9 1.3 1.8 1.3 08 MONTHS .1 .4 .1 .5 1.3 1.4 09 MONTHS .4 .1 .3 .1 1.4 1.2 10 MONTHS .3 .3 .0 .4 1.5 1.3 11 MONTHS .1 .2 .0 .0 .8 1.5 12 MONTHS .4 .1 .1 .0 .5 .7 .3 .3 .1 .1 2.0 2.0 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 MONTHS TOTAL * 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ NUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. * TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 26 JUN 1974 AND 29 MAY 1974 (CUMULATIVE DISTRIBUTION) CD'S MATURING IN NEW YORK CITY 26 JUN 0—6 1 DAYS 2/ 29 MAY CHICAGO 26 JUN ALL OTHER 29 MAY 26 JUN 29 MAY 5.1 4.4 4.0 5.7 6.2 4.9 01 MONTHS 3/ 44.8 42.6 45.2 39.2 44.8 41.7 02 MONTHS 68.7 69.5 65.9 72.2 65.6 64.5 03 MONTHS 86.1 86.2 82.5 87.5 78.9 77.6 04 MONTHS 93.4 92.9 92.0 93.5 85.3 84.3 05 MONTHS 95.8 96.6 94.9 96.6 88.4 88.1 06 MONTHS 97.8 98.0 98.3 97.6 90.6 90.4 07 MONTHS 98.3 98.7 99.2 98.9 92.4 91.7 08 MONTHS 98.4 99.1 99.3 99.4 93.7 93.1 09 MONTHS 98.8 99.2 99.6 99.5 95.1 94.3 10 MONTHS 99.1 99.5 99.6 99.9 96.6 95.6 11 MONTHS 99.2 99.7 99.6 99.9 97.4 97.1 12 MONTHS 99.6 99.8 99.7 99.9 97.9 97.8 100.0 100.0 100.0 100.0 100.0 100.0 OVER 12 MONTHS 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ NUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. TABLE 3A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 26 JUN 1974 (AMOUNTS IN MILLIONS OF DOLLARS) *1 BILLION ANCi OVER CD'S MATURING IN 1974 JUN 27-30 TOTAL *200 MILLION AND UNDER *200 MILLION TO *500 MILLION *500 MILLION TO *1 BILLION PRIME 3/ TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 4,493.4 274.0 553.4 833.1 2,832.9 1,288.7 992.3 551.9 JULY 31,455.5 1,608.7 3,920.0 4,447.7 21,479.1 9,835.3 8,749.5 2,894.3 AUGUST 17,456.8 803.5 1,918.7 2,454.7 12,279.9 5,921.5 4,832.7 1,525.7 SEPTEMBER 12,023.0 453.5 1,333.4 1,553.1 8,683.0 4,188.3 3,344.0 1,150.7 OCTOBER 5,637.1 176.0 461.1 827.0 4,173.0 1,731.8 1,729.6 711.6 NOVEMBER 2,281.2 93.0 223.2 291.7 1,673.3 598.1 730.4 344.8 DECEMBER 1,830.5 80.1 175.5 307.8 1,267.1 524.0 566.3 176.8 1,019.8 54.7 101.0 134.6 729.5 123.4 400.0 206.1 FEBRUARY 620.9 36.8 87.4 82.4 414.3 19.0 323.1 72.2 MARCH 784.7 28.9 79.3 132.2 544.3 41.1 383.7 119.5 APRIL 766.9 31.6 122.3 94.7 518.3 64.0 295.6 158.7 MAY 414.7 28.5 51.7 89.1 245.4 36.0 153.7 55.7 JUNE 333.3 22.6 30.5 41.2 239.0 100.4 101.5 37.1 JULY OR LATER 995.1 103.9 102.6 226.4 562.2 55.6 333.0 173.6 80,112.9 3,795.8 9,160.1 11,515.7 55,641.3 24,527.2 22,935.4 8,178.7 1975 JANUARY TOTAL * i ntnuK APNUUH : IAa AMU U1VlUbNU MA I UK IT 1E5I SEPTEMBER 10 699.0 19.6 84.7 87.1 507.6 254.3 192.6 60.5 SEPTEMBER 16 1,210.7 26.7 85.4 131.5 967.1 473.7 325.8 167.6 37 7 12 18 # Mcuno 261 87 a kir\i iy • FNUHdcK Ml 1MB CDUrDCdAiNKo B A Ml/ 1CI 86 51 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 M A R K E T . * TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 3B SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 26 JUN 1974 (AMOUNTS IN MILLIONS OF DOLLARS) $1 BILLION AND OVER CD'S MATURING IN 1974 JUN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 11,449.4 710.1 1,618.2 1,675.4 7,445.7 3,258.8 3,105.0 1,081.9 AUGUST 5,930.2 305.3 712.5 945.4 3,967.0 1,863.8 1,589.8 513.4 SEPTEMBER 6,754.6 266.2 762.5 834.0 4,891.9 2,579.0 1,690.5 622.4 OCTOBER 2 ,708.0 67.9 215.7 369.9 2,054.5 815.9 861.3 377.3 NOVEMBER 785.0 21.7 56.7 81.6 625.0 252.0 253.4 119.6 DECEMBER 943.6 32.5 86.4 147.7 677.0 357.0 279.3 40.7 206.8 7.8 7.4 15.8 175.8 33.1 101.3 41.4 FEBRUARY 31.1 2.1 5.2 8.6 15.2 4.3 9.0 1.9 MARCH 56.0 2.7 10.2 7.2 35.9 3.3 6.9 25.7 APRIL 39.3 0.8 4.7 5.1 28.7 18.7 7.7 2.3 MAY 52.1 3.2 3.6 9.1 36.2 17.5 16.4 2.3 298.8 20.4 17.8 36.8 223.8 99.3 81.3 43.2 29,254.9 1,440.7 3,500.9 4,136.6 20,176.7 9,302.7 8,001.9 2,872.1 37 7 12 18 1975 JANUARY JUNE OR LATER TOTAL * (MEMORANDUM: 261 * PRIME 4/ 27-30 JULY 1/ 2/ 3/ 4/ $500 MILLION TO $1 BILLION 87 NUMBER OF BANKS) 86 51 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. 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 M A R K E T . TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 3C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 26 JUN 1974 PERCENTAGE DISTRIBUTION $1 BILLION AND OVER CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 5.6 7.2 6.0 7.2 5.1 5.3 4.3 6.7 JULY 39.3 42.4 42.8 38.6 38.6 40.1 38.1 35.4 AUGUST 21.8 21.2 20.9 21.3 22.1 24.1 21.1 18.7 SEPTEMBER 15.0 11.9 14.6 13.5 15.6 17.1 14.6 14.1 OCTOBER 7.0 4.6 5.0 7.2 7.5 7.1 7.5 8.7 NOVEMBER 2.8 2.5 2.4 2.5 3.0 2.4 3.2 4.2 DECEMBER 2.3 2.1 1.9 2.7 2.3 2.1 2.5 2.2 1.3 1.4 1.1 1.2 1.3 0.5 1.7 2.5 FEBRUARY 0.8 1.0 1.0 0.7 0.7 0.1 1.4 0.9 MARCH 1.0 0.8 0.9 1.1 1.0 0.2 1.7 1.5 APRIL 1.0 0.8 1.3 0.8 0.9 0.3 1.3 1.9 MAY 0.5 0.8 0.6 0.8 0.4 0.1 0.7 0.7 JUNE 0.4 0.6 0.3 0.4 0.4 0.4 0.4 0.5 JULY OR LATFR 1.2 2.7 1.1 2.0 1.0 0.2 1.5 2.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1974 JUN 27-30 1975 JANUARY TOTAL * DIVIDEND MATURITIES) SEPTEMBER 10 0.9 0.5 0.9 0.8 0.9 1.0 0.8 0.7 SEPTEMBER 16 1.5 0.7 0.9 1.1 1.7 1.9 1.4 2.0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 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 M A R K E T . * TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 3D SI BILLION AND OVER CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL NEW YORK CITY • 1974 JUN 27-30 OUTSIDE NEW YORK CITY NON-PRIME 5.6 7.2 6.0 7.2 5.1 5.3 4.3 6.7 JULY 44.9 49.6 48.8 45.8 43.7 45.4 42.4 42.1 AUGUST 66.7 70.8 69.7 67 1 1 65.8 69.5 63.5 60.8 SEPTEMBER 81.7 82.7 84.3 .80.6 81.4 86.6 78.1 74.9 OCTOBER 88.7 87.3 89.3 87.8 88.9 93.7 85.6 83.6 NOVEMBER 91.5 89.8 91.7 90.3 91.9 96.1 88.8 87.8 DECEMBER 93.8 91.9 93.6 93.0 94.2 98.2 91.3 90.0 95.1 93.3 94.7 94.2 95.5 98.7 93.0 92.5 FEBRUARY 95.9 94.3 95.7 94.9 96.2 98.8 94.4 93.4 MARCH 96.9 95.1 96.6 96.0 97.2 99.0 96.1 94.9 APRIL 97.9 95.9 97.9 96.8 98.1 99.3 97.4 96.8 MAY 98.4 96.7 98.5 97.6 98.5 99.4 96.1 97.5 JUNE 98.8 97.3 98.8 98.0 98.9 99.8 98.5 98.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1975 JANUARY JULY OR LATER 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 M A R K E T . TABLE 3E SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 26 JUN 1974 PERCENTAGE DISTRIBUTION $1 BILLION AND OVER CD'S MATURING IN 1974 JUN TOTAL $200 MILLION AND UNDER $200 MILLION TO $5t>0 MILLION NEW YORK CITY OUTSIDE NEW YORK CITY TOTAL NON-PRIME JULY 39.1 49.3 46.2 40.5 36.9 35.0 38.8 37.7 AUGUST 20.3 21.2 20.4 22.9 19.7 20.0 19.9 17.9 SEPTEMBER 23.1 18.5 21.8 20.2 24.2 27.7 21.1 21.7 OCTOBER 9.3 4.7 6.2 8.9 10.2 8.8 10.8 13.1 NOVEMBER 2.7 1.5 1.6 2.0 3.1 2.7 3.2 4.2 DECEMBER 3.2 2.3 2.5 3.6 3.4 3.8 3.5 1.4 JANUARY 0.7 0.5 0.2 0.4 0.9 0.4 1.3 1.4 FEBRUARY 0.1 0.1 0.1 0.2 0.1 0.0 0.1 0.1 MARCH 0.2 0.2 0.3 0.2 0.2 0.0 0.1 0.9 APRIL 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 MAY 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.1 JUNE OR LATER 1.0 1.4 0.5 0.9 1.1 1.1 1.0 1.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 (MEMORANDUM: 261 * PRIME 4/ 27-30 TOTAL * 1/ 2/ 3/ 4/ $500 MILLION TO $1 BILLION 87 100.0 NUMBER OF BANKS) 86 51 37 12 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. 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 M A R K E T . TOTALS MAY NOT ADD DUE TO ROUNDING. 18 TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 26 JUN 1974 29 MAY 1974 24 APR 1974 (BY LOCATION) ALL REPORTING BANKS 2.1 2.1 2.1 NEW YORK CITY 1.8 1.7 1.7 CHICAGO 1.8 1.7 1.6 OTHER 2.3 2.4 2.4 ISSUING CD'S (BY SIZE OF BANK) 2/ 2.1 2.1 2.2 S200-S500 MILLION 2.0 2.0 2.1 $500-31,000 MILLION 2.2 2.2 2.2 OVER SI BILLION 2.1 2.1 2.0 1.8 1.7, 1.6 2.3 2.4 2.4 2.5 2.3 2.3 UNDER $200 MILLION PRIME IN NEW YORK CITY 3/ VRIME OUTSIDE NEW YORK CITY 3/ NON-PRIME ' 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S , 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME RANKS ARE TKHSE 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 M A R K E T . TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLD. BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 26 JUN 1974 29 MAY 1974 24 APR 1974 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 2.1 2.0 2.0 NEW YORK CITY 2.2 2.0 1.8 CHICAGO 2.5 1.9 1.7 OTHER 1.9 2.0 2.1 (BY SIZE OF B A N K ) 2/ UNDER $200 MILLION 1.8 1.6 1.8 $200—6500 MILLION 1.8 1.8 2.0 $500—$1rOOO MILLION 2.0 1.8 2.0 2.1 2.1 2.0 PRIME IN NEW YORK CITY 3/ 2.1 2.0 1.9 PRIME OUTSIDE NEW YORK CITY 3/ 2.1 2.2 2.1 NON-PRIME 2.2 2.0 2.1 OVER $1 BILLION 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 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 M A R K E T . N O T E — S E E TECHNICAL APPENDIX B. TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) 26 JUN 1974 29 MAY 1974 ALL BANKS ISSUING CD'S 23.1 22.8 UNDER 200 14.5 200 - 500 18.8 19.0 18.4 500 - 1000 1 Q .2 19.2 18.0 OVER 26.2 25.7 24.7 29.9 29.3 28.7 PRIME PUTSIDF NEW YORK 3/ 24.9 24.2 23.0 NONPRIME 21.5 21.6 20.4 PRIME IN NFW YORK 3/ 21.8 14,8 00 •d- 1000 24 APR 1974 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CpNDITION ON DECEMBER 31, 1965. 3/ P n I M E 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 M A R K E T . NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 5B RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 26 JUN 1974 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CD TO DEPOSIT RATIO (PER C E N T ) ALL BANKS ISSUING CD'S 36 29 39 44 46 67 23.1 UNC-FR 200 13 14 19 15 16 10 14.5 200 - 500 16 6 11 17 13 23 18.8 500 - 1000 6 7 5 6 9 18 19.2 CVF-R 1000 1 2 4 6 8 16 26.2 PRIME IN NEW YORK 3/ 0 0 0 0 1 6 29.9 PRIME OUTSIDE NEW YORK 3/ 0 0 0 4 4 4 24.9 \»ONPRIME 1 2 4 2 3 6 21.5 1/ INCLUDES CERTIFICATES 2/ r IN DENOMINATIONS OF S100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . O T A L DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ F 31ME 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 M A R K E T . NOT?- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT DEPOSITS. TABLE 5C PER CPNT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 29 MAY 1974 TO 26 JUN 1974 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (1< REDUCED CD'S TO ZERO MILLIONS OF DOLLARS) DECLINES OF 10% OR MORE 5 TO 10% INCREASES OF 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10% OR MORE ISSUED CD'S BUT HAD NONE O U T S T A N D ING ON BASE DATE ALL RANKS ISSUING CD'S 1 34 43 72 11 52 28 21 0 UNDP 3 200 1 13 17 22 5 16 9 5 0 200 - 500 0 11 14 26 5 15 8 7 0 500 - 1000 0 4 7 14 1 12 7 6 0 OVf- 0 6 5 10 0 9 4 3 0 0 0 0 2 0 3 2 0 0 0 1 0 4 0 4 1 2 0 0 5 5 4 0 2 1 1 0 1000 P^IME IM NEW YORK 3/ IMF OUTS IDF NEW YORK 3/ 'ONPRIME 1/ INCLUDES CERTIFICATES / IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ P°I ME 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 M A R K E T . NOTF- 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 LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS S U R V E Y . TABLE 5D PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 27 MAR 1974 TO 26 JUN 1974 (NUMBER OF BANKS) TOTAL DEPOSITS /2 (IN MILLIONS OF DOLLARS) REDUCED CD'S 25% OR TO MORE ZERO INCREASE OF DECLINES OF 20 TO 2 5% 15 TO 20% 10 TO 15% 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10 TO 15% 25% OR MORE 20 TO 25% 15 TO 20% ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE ALL BANKS ISSUING CD'S 1 24 6 6 9 23 23 9 26 23 30 21 17 42 2 UNDER 200 1 16 4 6 4 9 8 3 6 8 6 6 5 6 0 200 - 500 0 4 2 0 3 9 8 5 11 9 13 5 5 10 2 500 - 1000 0 2 0 0 2 5 7 1 6 4 6 5 2 11 0 OVER 0 2 0 0 0 0 0 0 3 2 5 5 5 15 0 PRIME IN NEW YORK 3/ 0 0 0 0 0 0 0 0 0 1 0 2 1 3 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 0 0 0 1 1 1 1 1 7 0 NCNPR1ME 0 2 0 0 0 0 0 0 2 0 4 2 3 5 0 1000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1 9 6 5 . 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 T R A D E WITHIN 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 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. TABLE 5E 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 29 MAY 1974 TO 26 JUN 1974 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) DECLINES OF 33 AND OVER 2 TO 3% INCREASES OF 1 TO 2% 12 AND LESS NO CHANGE 1% AND LESS 1 TO 2% 2 TO 3% 3% AND OVER ALL BANKS ISSUING CD'S 4 18 39 90 11 59 26 10 4 UNDER 200 2 5 13 33 5 19 7 3 0 200 - 500 0 5 16 30 5 18 6 5 1 500 - 1000 1 3 4 18 1 15 6 1 2 OVER 1 1000 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3 NONPRIME 5 0 / 0 0 1 6 0 2 2 3 9 0 0 4 3 6 0 0 0 7 7 1 1 2 3 0 0 4 1 1 1 1 3 0 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 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 M A R K E T . NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. i \ 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 2J MAR 1974 TO 26 JUN 1974 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) DECLINES OF 5% AND OVER 4 TO 5% 3 TO 4% INCREASES OF 2 TO 1 TO 2% 3% 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 3 TO 4% 2 TO 3% 5% AND OVER 4 TO 5% ALL BANKS ISSUING CD'S 6 4 8 15 16 44 9 36 22 29 15 IP 37 UNDER 200 4 2 5 Q 9 19 3 7 6 11 5 5 2 200 - 500 1 2 2 5 4 12 5 17 10 9 5 6 6 500 - 1000 0 0 0 1 3 13 1 8 2 6 2 3 12 OVER 1 0 1 0 0 0 0 4 4 3 3 4 17 PRIME IN NEW YORK 3/ 0 0 0 0 0 0 0 0 1 0 1 0 5 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 0 0 0 1 1 1 2 7 NONPRIME 1 0 1 0 0 0 0 4 2 2 1 2 5 1000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 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 R E G A R D E D 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 M A R K E T . NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL D E M A N D AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 JUN 1974 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN 1974 JUN 27—JUN 30 ALL DISTRICTS BOSTON 4493.6 285.5 NEW YORK PHILADELPHIA CLEVELAND 1527.2 299.8 1358.4 11798.9 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 587.4 45.8 77.3 73.4 287.0 760.1 1318.3 4965.4 366.1 446.0 735.3 1675.0 5528.6 RICHMOND ATLANTA CHICAGO 211.0 184.9 154.2 1114.3 1309.2 839.9 JUL 31455.4 AUG 17457.0 774.0 6844.7 593.0 912.9 454.6 670.9 2740.5 227.6 215.6 389.2 763.8 2870.2 SEP 12023.1 424.0 4823.5 449.5 642.8 358.9 533.5 1892.3 139.2 194.6 224.4 413.9 1926.5 OCT 5637.1 294.2 2003.6 225.3 267.7 224.5 193.0 1079.7 49.9 65.6 68.7 139.0 1025.9 NOV 2281.2 272.8 677.6 190.8 71.3 67.5 116.3 310.4 13.3 27.1 38.4 51.3 444.4 DEC 1830.4 151.4 605.9 54.0 78.2 58.3 79.5 357.4 12.6 26.5 45.2 73.0 288.4 1975 JAN 1019.8 118.1 150.7 30.1 77.8 21.7 36.7 120.7 13.6 27.0 28.6 39.0 355.8 FEB 621.0 100.6 26.2 9.7 53.4 12.2 41.0 19.9 14.9 12.7 14.3 20.2 295.9 MAR 784.7 186.8 129.1 18.3 68.8 46.7 30.0 47.3 15.5 18.3 9.6 13.4 200.9 APR 767.2 112.0 108.8 32.2 97.6 33.6 60.9 18.2 20.6 9.9 15.8 37.2 220.4 MAY 414.6 85.7 43.3 14.4 43.8 21.1 29.4 11.8 20.6 11.6 8.8 12.2 111.9 JUN 333.6 39.7 114.0 8.9 36.4 2.2 10.8 19.2 5.7 3.2 10.3 7.5 75.7 JUL OR LATER 995.1 32.3 91.6 78.7 398.5 14.3 61.8 40.0 29.2 4.0 16.6 143.3 84.8 4235.5 28945.1 3119.0 4269.4 2340.4 3336.3 12210.2 974.6 1139.4 1678.6 TOTAL * 80113.8 3675.8 14189.5 AVERAGE MATURITY IN MONTHS 2/ 2.1 2.9 1.7 2.2 3.3 2.1 2.2 1.8 2.5 2.1 1.9 2.0 2.2 NUMBER OF REPORTING BANKS 261 18 40 9 23 18 25 36 11 5 19 25 32 1/ INCLUDES >NLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE. BY WEEKLY REPORTING B A N K S . 2/ SEE TFCHNICAL APPENDIX B. * DETAILS MAY N O T ADD TO TOTALS CUE TO ROUNDING. TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 JUN 1974 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN ALL DISTRICTS BOSTON JUL 11449.3 580.5 AUG 5930.3 SEP CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 509.4 1477.4 116.3 160.8 309.6 656.0 2260.5 129.5 172.5 914.0 93.8 72.8 127.7 348.9 1037.0 252.9 200.1 251.6 1278.5 68.5 102.9 123.2 277.9 823.1 150.4 154.3 89.7 25.0 774.2 23.5 24.7 17.2 34.0 336.9 278.4 70.3 13.2 14.6 39.7 183.6 5.3 7.1 5.2 11.2 127.0 47.3 378.6 27.8 27.6 24.7 45.8 218.6 4.3 20.0 12.5 48.9 87.4 206.9 5.4 34.5 23.4 9.8 0.0 2.1 44.1 0.8 4.3 2.5 2.8 77.2 FEB 31.3 2.3 5.9 1.1 0.6 1.0 3.9 1.6 4.9 0.6 0.1 1.0 6.3 MAR 56.1 3.5 26.6 1.5 4.6 2.1 1.0 6.8 0.0 1.3 0.9 1.5 6.3 APR 43.9 4.3 19.3 1.5 2.1 4.0 2.5 2.7 0.3 0.6 0.3 O.C 6.3 MAY 52.1 7.6 18.1 3.4 1.0 1.5 2.4 5.3 0.1 2.3 0.3 2.8 7.3 298.7 36.8 101.9 12.6 15.4 0.8 7.3 21.1 5.5 2.9 7.1 17.1 70.2 1261.6 11307.7 1116.2 1271.3 732.4 1063.2 4927.9 323.3 400.3 606 .6 1402.1 4647.5 2.2 2.0 2.0 1.8 2.3 2.0 2.0 1.6 1.7 1.8 NEW YORK PHILADELPHIA CLEVELAND 4214.2 416.0 484.2 264.4 293.4 2234.1 201.0 305.6 6754.8 173.0 2995.9 207.2 OCT 2708.1 78.0 1000.2 NOV 785.1 29.5 DEC 943.5 1975 JAN 1974 JUN OR LATER TOTAL * 29260.1 AVERAGE MATURITY IN MONTHS 3/ 2.0 2.0 2.0 RICHMOND ATLANTA 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING B A N K S . 3/ SEE TECHNICAL APPENDIX B. * DETAILS MAY N O T 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 26 JUN 1974 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO BOSTON 5.6 6.7 4.8 4.7 6.8 4.4 7.8 5.4 JUL 39.3 39.5 40.7 37.6 39.1 43.8 45.6 39.0 AUG 19.4 20.1 22.4 23.4 18.9 23.2 20.8 20.2 15.1 15.3 16.0 15.5 14.3 17.1 13.4 11.3 13.6 7.2 6.3 9.6 5.8 8.8 5.1 5.8 4.1 3.8 7.2 2.3 6.1 1.7 2.9 3.5 2.5 1.4 2.4 2.3 1.4 3.1 3.6 2.1 1.7 1.8 2.5 2.4 2.9 1.3 2.3 2.7 2.0 2.0 1.3 2.8 0.5 1.0 1.8 0.9 1.1 1.0 1.4 2.4 1.7 1.1 2.5 FEB 0.8 2.4 0.1 0.3 1.3 0.5 1.2 0.2 1.5 1.1 0.9 0.5 2.1 MAR 1.0 4.4 0.4 0.6 1.6 2.0 0.9 0.4 1.6 1.6 0.6 0.4 1.4 APR 1.0 2.6 0.4 1.0 2.3 1.4 1.8 0.1 2.1 0.9 0.9 1.0 1.6 MAY 0.5 2.0 0.1 0.5 1.0 0.9 0.9 0.1 2.1 1.0 0.5 0.3 0.8 JUN 0.4 0.9 0.4 0.3 0.9 0.1 0.3 0.2 0.6 0.3 0.6 0.2 0.5 JUL OR LATER 1.2 0.8 0.3 2.5 9.3 0.6 1.9 0.3 3.0 0.4 1.0 3.9 0.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 NEW YORK PHILADELPHIA CLEVELAND 5.3 9.6 4.9 7.9 4.6 32.1 40.8 35.7 30.7 35.9 21.8 18.3 23.6 19.0 21.4 SEP 15.0 10.0 16.7 14.4 OCT 7.0 6.9 6.9 NOV 2.8 6.4 DEC 2.3 1975 JAN 1974 JUN 27--JUN 30 TOTAL * RICHMOND ATLANTA CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6D MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 JUN 1974 .(CUMULATIVE PERCENTAGE) MATURIN G IN ALL DISTRICTS ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO BOSTON 5.6 6.7 4.8 4.7 6.8 4.4 7.8 5.4 JUL 44.9 44.1 45.5 42.3 45.9 48.2 53.4 44.4 AUG 63.2 64.2 67.9 65.7 64.8 71.4 74.2 64.6 72.1 78.5 80.2 83.4 80.0 81.9 84.8 85.5 78.2 85.9 78.4 88.1 86.0 92.2 85.1 87.7 88.9 89.3 85.4 95.6 92.0 80.1 91.0 89.5 94.7 86.5 90.1 91.2 90.7 88.5 84.0 97.7 93.7 81.9 93.5 91.9 97.6 87.8 92.4 93.9 92.7 90.5 95.1 86.8 98.2 94.7 83.7 94.4 93.0 98.6 89.2 94.8 95.6 93.8 93.0 FEB 95.9 89.2 98.3 95.0 85.0 94.9 94.2 98.8 90.7 95.9 96.5 94.3 95.1 MAR 96.9 93.6 98.7 95.6 86.6 96.9 95.1 99.2 92.3 97.5 97.1 94.7 96.5 APR 97.9 96.2 99.1 96.6 88.9 98.3 96.9 99.3 94.4 98.4 98.0 95.7 98.1 MAY 98.4 98.2 99.2 97.1 89.9 99.2 97.8 99.4 96.5 99.4 98.5 96.0 98.9 JUN 98.8 99.1 99.6 97.4 90.8 99.3 98.1 99.6 97.1 99.7 99.1 96.2 99.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 5.3 9.6 4.9 7.9 4.6 38.8 46.1 45.3 35.6 43.8 66.7 57.1 69.7 64.3 57.0 SEP 81.7 67.1 86.4 78.7 OCT 88.7 74.0 93.3 NOV 91.5 80.4 DEC 93.8 JAN JUN 27- JUN 30 JUL OR LATER NEW YORK RICHMOND ATLANTA CHICAGO 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 26 JUN 1974 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS BOSTON JUL 39.1 46.0 AUG 20.3 SEP ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 30.0 36.0 40.2 51.0 46.8 46 .6 16.2 18.5 29.0 18.2 21.1 24.9 21.4 27.3 23.7 25.9 21.2 25.7 20.3 19.8 17.0 12.1 12.2 2.4 15.7 7.3 6.2 2.8 2.4 6.9 6.3 1.0 2.0 3.7 3.7 1.6 1.8 0.9 0.8 2.6 3.3 2.5 2.2 3.4 4.3 4.4 1.3 5.0 2.1 3.5 1.8 0.4 0.3 2.1 0.8 0.0 0.2 0.9 0.2 1.1 0.4 0.2 1.6 0.1 0.2 0.1 0.1 0.0 0.1 0.4 0.0 1.5 0.1 0.0 0.1 0.2 MAR 0.2 0.3 0.2 0.1 0.4 0.3 0.1 0.1 0.0 0.3 0.1 0.1 0.1 APR 0.2 0.3 0.2 0.1 0.2 0.5 0.2 0.1 0.1 0.1 0.0 0.0 0.1 MAY 0.2 0.6 0.2 0.3 0.1 0.2 0.2 0.1 0.0 0.6 0.0 0.2 0.2 JUN OR LATER 1.0 2.9 0.9 1.1 1.2 0.1 0.7 0.4 1.7 0.7 1.2 1.2 1.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 NEW YORK PHILADELPHIA CLEVELAND 37.3 37.3 38.1 36.1 47.9 23.3 19.8 18.0 24.0 17.7 23.1 13.7 26.5 18.6 19.9 OCT 9.3 6.2 8.8 13.5 NOV 2.7 2.3 2.5 DEC 3.2 3.7 1975 JAN 0.7 FEB 1974 TOTAL * RICHMOND ATLANTA CHICAGO 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES 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 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 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