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July 9, 1969. L.4.1 CONFIDENTIAL (FR) SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF May 28, 1969 Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. FEDERAL RESERVE BANK of KANSAS CITY JUL 16 1963 TABLE 1 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 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 AS OF 28 MAY 1 CD S AMOUNT (MILLIONS OF DOLLARS) 1969 SALES SINCE PREVIOUS MONTH 2/ (MILLIONS CF D O L L A R S ) PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE 258.2 1.5 1.5 ,0 JUNE 4,722.0 27.8 29.3 781,0 JULY 3,374.9 19.9 49.2 236,9 AUGUST 2,083.3 12.3 61.5 543,6 SEPTEMBER 1,615.9 9.5 71.0 67,0 OCTOBER 1,410.6 8.3 79.3 116.5 NOVEMBER 967.6 5.7 85,0 561.6 DECEMBER 612.7 3.6 88.6 98.0 537.6 3.2 91,8 29.7 FEBRUARY 280 *4 1.7 93,5 14.1 MARCH 247.0 1.5 95,0 12.8 APRIL 293.6 1.7 96.7 22,9 MAY 175.3 1.0 97.7 391.9 2.3 100.0 XXX 16,971.0 100.0 XXX 2,630.1 MATURING 1969 MAY IN 29 - 31 1970 J A N U A R Y OVER 12 M O N T H S TOTAL (MEMORANDUM: 200.4 659.8 JUNE 10 JUNE 1 6 1/ INCLUDES ONLY CERTIFICATES 2/ SEE T E C H N I C A L A P P E N D I X A. ?/ SALES CF C D ' S AFTER 11 MATURING TAX AND DIVIDEND M A T U R I T I E S ) 1.2 3.9 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 MONTHS. 146,0 3/ XXX XXX ISSUED BY W E E K L Y R E P O R T I N G B A N K S . 10,4 76.1 TABLE 2 A 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 TIME C E R T I F I C A T E S OF D E P O S I T A T NEW Y O R K CITY, CHICAGO, AND ALL OTHER W E E K L Y R E P O R T I N G B A N K S AS OF 28 MAY 1969 (IN M I L L I O N S OF D O L L A R S ) CD'S MATURING IN 1969 M A Y 29 - MAY AMOUNT 31 SALES S I N C E P R E V I O U S MONTH 2/ - - AMOUNT .0 41.6 ALL OTHER WEEKLY R E P O R T I N G BANKS CHICAGO NEW YORK CITY SALES SINCE P R E V I O U S M O N T H 2/ - - .0 12.7 AMOUNT 203.9 SALES S I N C E PREVIOUS M O N T H 2/ .0 JUNE 1,221.9 135.4 323.0 33.0 3.177.1 612.6 JULY 638.5 30.8 206.7 9.7 2.529.7 196.4 AUGUST 457.5 112.0 144.2 32.7 1,481.6 398.9 SEPTEMBER 301.9 14.0 117.8 .3 1.196.2 52.7 OCTOBER 207.7 12.3 67.1 5.6 1.135.8 98.6 NOVEMBER 155.0 80.0 41.9 13.1 770.7 468.5 DECEMBER 134.5 28.5 23.8 4.0 454. 4 6 5 .5 89.0 2.9 24.9 1.7 423.7 25.1 FEBRUARY 49.2 .9 19.5 .4 211.9 12.8 MARCH 44.9 .2 24.6 .7 17#. J 11.9 APRIL 79.9 2.6 15.1 .1 19*.* 20.2 MAY 40.0 1970 J A N U A R Y OVER 35.8 XXX 3,497.4 452.4 12 M O N T H S TOTAL * 10 16 62.2 277.9 1/ I N C L U D E S O N L Y C E R T I F I C A T E S 2/ SEE 3/ S A L E S OF C D ' S M A T U R I N G TAX AFTER 11 MONTHS. TO R O U N D I N G . 101.8/3 347.2 XXX 112.7 12,4 32.0 2 ,065.0 240 AND D I V I D E N D M A T U R I T I E S ) 1.5 10.9 IN D E N O M I N A T I O N OF $ 1 0 0 , 0 0 0 OR M O R E T E C H N I C A L A P P E N D I X A. * T O T A L S M A Y N O T ADD DUF It 041. 6 12*. 9 XXX It (MEMORANDUM: JUNE JUNE 8.9 12 N U M B E R OF R E P O R T I N G B A N K S 11.4 /3 11.4 32.8 / 3 10.1 39.7 .0 4.4 ISSUED BY W E E K L Y R E P O R T I N G B A N K S . 128.1 342.2 8.9 60.& •ONIQNflOd 01 Bfia aav ION avw sivioi * * H 1 N 0 W A3 AtiflS 3H1 9 N I M U 1 1 0 3 SH1N0W 30 ti38WfliN /£ •H1NGW 3 H I 30 AVQS3N0 3M 1 S V 1 3H1 ON IN011GJ S A V Q 30 «39WflN 3H1 H U M S31HVA 0 0 1 * 3 d S I H 1 *H1N0W A3A* PIS NI 9 N I N I V W 3 h SAVQ iO d39WAN /Z *SXNV8 S 3 1 V D I 3 l i b 3 3 A 1 N 0 S 3 0 0 1 ON I /I * 1V101 0*001 0*001 0*001 0*001 0*001 0*001 6*2 8*2 L* 6* 1*1 0*1 **1 0*1 2*1 1*1 0*2 1*1 SH1N0W £M 9 *1 6*1 t*1 Z*1 £*Z SrtlNOW 11 9M **1 9*1 **z £*1 £* 1 SH1N0W *•£ 1*1 6*1 6*1 £*Z t*1 S HI N OW 6 0 1 *£ *f 9*1 4y*Z 8*Z 6*Z S H 1 N 0 W 80 **2 i*£ £*Z £*Z 0*Z 8*£ S H 1 N 0 W 10 £e8 2 *9 0*S 0*» 1*S t*t SH1N0W I *6 1*6 S*6 t*9 5*1 6*5 S H 1 N 0 W SO *0 00 9 N 1 1 * 0 4 3* ATM 33H A 9 03ASSI 3W0W *0 0 0 0 * C 0 I $ 3 0 S N O I 1 V N 1 M 0 N 3 0 N I 9*6 1*6 £*11 0*6 9*8 SHlNOW *?G 9*81 6*11 0*91 8*£1 6*91 1 * £1 S HI N OW iO t*02 £ *0Z S*£Z 8*61 t*8Z £*81 SH1N0W zc 0*61 S*SZ 9*SZ 0 * 1£ t*1Z 6*t£ /t S H I N O W 10 0* 9*1 0* Z*1 0* Z*I ydv * € AVW 8Z 0£ W3H10 nv bdV AVW 8Z ydV 0£ AVW 0£ SH1NGW Z1 H3A0 .21 01 90 /Z SAVQ 9-0 8Z NI ONiyniVW Si All 3 XyOA M3N 09V3IH3 (NOiingitiisia 33viN33*3d) 6961 *dV 0£ ONV 6961 S X N V Q 9 N U * 0 d 3 * A1X33M AVW 8Z 30 SV d3H10 11V ONV *09V3IH3 ' A l l : XWOA M3N IV ! 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SAVQ 9-0 mt nw t xn t ww s.nn ( N o n n g i aisio 3Ai ivinwno) 6961 tidV 0£ ONV 6961 AVIn SZ du SV SXNV9 9NIlU0d3a A~I)I33M 6.3H10 11V ONV '03VDIH0 ' Ail 0 >dOA' M3N IV 1 IS0d30 30 S31V0I3IJ.U3D 3hll 3 1 9 V I 1 0 9 3 N 'JNlONVlSinO 30 N D 1 1 0 8 1 HiS 10 Ali^niVw /I OZ 3 19V1 /I TABLE M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T 1/ AT WEEKLY REPORT ING BANKS BY SIZE OF B A N K S 2/ AS OF 28 MAY 1969 (AMOUNTS IN M I L L I O N S OF D O L L A R S ) 3A SI B I L L I O N A N D OVER $200 MILLION AND UNDER $200 M I L L I O N TO $500 MILLION $ 5 0 0 MILLION TO $ 1 BILLION 258.0 24.3 50.6 50.2 JUNE 4,722.0 325.8 651.4 JULY 3,374.9 281.0 AUGUST 2.083.4 SF^TEMBER OCTOBER C D 1 S MATU5ING IN TOTAL OUTSIDE NEW Y O R K CITY NON-PRIME NEW YORK CITY 132.9 34.9 61.5 36.5 936.1 2,808.7 1,154.1 896.4 758.2 5 39.6 729.1 1,825.2 589.2 703.4 532.6 171.9 410.4 367.2 1,133.9 412.5 418.0 303.4 1,615.9 112.3 267.8 338.1 897.7 281.1 369.1 247.5 1.410.5 96 .7 266.9 296.9 750.0 184.3 369.2 196.5 NOVEMBER 967.6 78.3 193.8 191.1 504.4 142.0 190.6 171.8 DECEMBER 612.7 27.0 84.2 133.8 367.7 111.5 139.0 117.2 537.5 34.5 63.5 98.1 341.4 82.5 136.8 122.1 FEBRUARY 280.3 10.6 47.5 51.2 171.0 38.9 95.1 37.0 MARCH 246. 8 16.6 34.6 40.3 155.3 35.3 78.3 41.7 APRIL 293.5 14.0 35.4 57.2 186.9 68.3 75.8 42.8 MAY 175.3 10.8 25.0 32.6 106.9 38.7 49.4 18.8 JUNE OR LATER 391.8 4.0 38.5 77.5 271.8 33.4 184.5 53.9 16,970.2 1,207.8 2,709.2 3,399.4 9,653.8 3,206.7 3,767.1 2,680.0 1969 MAY 2 9-31 1970 J A N U A R Y TOTAL * (MEMORANDUM: TAX TOTAL AND DIVIDEND M A T U R I T I E S ) JUNE 10 200.4 18.5 19.6 43.8 118.5 60.0 28.1 30.4 JUNE 16 659.8 18.9 57.4 100.9 482.6 273.4 120.1 89.1 12 18 (MEMORANDUM: 90 263 1/ : PRIME 3/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF $100,000 OR MORE NUMBER OF B A N K S ) 85 51 37 ISSUED BY WEEKLY R E P O R T I N G B A N K S . E S ^ l S T ^ J S o S T ^ r S r G ^ O ^ ' i 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 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 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 . http://fraser.stlouisfed.org/ • T O T A L S M A Y N O T ADD DUE TO R O U N D I N G . Federal Reserve Bank of St. Louis TABLE SALFS 39 /!/ OF N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T 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 B A N K S 3 / AS OF 28 MAY 1969 (AMOUNTS TN M I L L I O N S OF D O L L A R S ) $1 B I L L I O N AND OVER - C D 1 S MATURING 1969 M A Y IN TOTAL $200 MILLION AND UNDER $200 MILLION TO . $500 MILLION $500 MILLION TO $ 1 BILLION PRIME 4/ - OUTSIDE NEW Y O R K CITY NON-PRIME NEW YORK CITY TOTAL 2 9-31 JUNE 781.1 79.7 117.8 186.7 396.9 120.0 119.2 157.7 JULY 236. 9 34.2 47.6 54.2 100.9 27.9 35.7 37.3 AUGUST 543.7 76.4 104.0 92.1 271.2 103.0 83.2 85.0 67. 1 6.7 13.8 13.2 33.4 13.2 12.9 7.3 OCTOBER 116.4 9.2 21.0 26.7 59.5 11.9 32.9 14.7 NOVEMBER 561.6 62.0 126.1 128.2 245.3 72.9 85.5 86.9 DECEMBER 98.0 5.0 12.5 12.6 67.9 26.0 18.7 23.2 29.8 6.7 3.7 4.4 15.0 2.9 3.5 8 .6 FEBRUARY 14.2 1.9 3.0 4.4 4.9 0.9 2.4 1.6 MARCH 12.6 1.3 4. 1 4.3 2.9 0.2 1.8 0.9 APRIL 23.0 0.8 6.8 5.1 10. 3 2.0 5.0 3.3 146.1 11.1 14.5 45.5 75.0 32.5 28.1 14.4 2,630.5 295.0 474.9 577.4 1,283.2 413.4 428.9 440.9 SEPTEMBER 1970 J A N U A R Y MAY OR LATER TOTAL * — f M F MD D A Mfll IM * TAX iAND D I V I D E N D M A T U R I T I E S ) JUNE 10 10.5 3.4 2.6 1.5 3.0 1.5 JUNE 16 76.0 3.4 14.4 13.4 44.8 10.1 1/ 2/ 3/ 4/ 90 12.4 22.3 85 51 37 12 18 SEE T E C H N I C A L A P P E N D I X A. I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $100,000 OR MORE ISSUED BY W E E K L Y R E P O R T I N G B A N K S . TOTAL D E P O S I T S A S R E P O R T E D IN THE C A L L REPCRT OF CONDITION ON DECEMBER 31, 1965. 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 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 ARE D 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 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 ADD DUE TO R O U N D I N G . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1.9 NUMBER OF B A N K S ) CMEMOR ANDUM: 263 0.4- TARLE 3C MATURITY 01STRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 28 MAY 1969 PERCENTAGE DISTRIBUTION $1 BILLION AND OVER - CD*S MATUPING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION - PRIME 3/ TOTAL NEW YORK CITY 1969 MAY 29-31 OUTSIDE NEW YORK CITY NON-PRIME 1.5 2.0 1.9 1.5 1.4 1.1 1.6 1.4 JUNE 27.8 27.0 24.0 27.5 29.1 36.0 23.8 28.3 JULY 19.9 23.3 19.9 21.4 18.9 18.4 18.7 19.9 AUGUST 12.3 14.2 15.1 10.8 11.7 12.9 11.1 11.3 SEPTEMBER 9.5 9.3 9.9 9.9 9.3 8.8 9.8 9.2 OCTOBER 8.3 8.0 9.9 8.7 7.8 5.7 9.8 7.3 NOVEMBER 5.7 6.5 7.2 5.6 5.2 4.4 5.1 6.4 DECEMBER 3.6 2.2 3.1 3.9 3.8 3.5 3.7 4.4 3.2 2.9 2.3 2.9 3.5 2.6 3.6 4.6 FEBRUARY 1.7 0.9 1.8 1.5 1.8 1.2 2.5 1.4 MARCH 1.5 1.4 1.3 1.2 1.6 1.1 2.1 1.6 APRIL 1.7 1.2 1.3 1.7 1.9 2.1 2.0 1.6 MAY 1.0 0.9 0.9 1.0 1.1 1.2 1.3 0.7 JUNE OR LATER 2.3 0.3 1.4 2.3 2.8 1.0 4.9 2.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 JANUARY TOTAL * DIVIDEND MATURITIES) JUNE 10 1.2 1.5 0.7 1.3 1.2 1.9 0.7 1.1 JUNE 16 3.9 1.6 2.1 3.0 5.0 8.5 3.2 3.3 1/ INCLUDES CERTIFICATES IN OENOMINATI CNS 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. * TOTAL S "AY NOT ADD DUE T n RPUNDTNG. TABLE M 30 A T U P I T Y DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 28 MAY 1969 CUMULATIVE PERCENTAGE SI BILLION AND OVER CD'S MATURING IN TOTAL $2 00 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $ 1 BILLION - PRIME 3/ TOTAL NEW YORK CITY 1969 "AY 2 9-31 OUTSIDE NEW YORK CITY NON-PRIME 1.5 2.0 1.9 1.5 1.4 1.1 1.6 1.4 JUNE 29.3 29.0 25.9 29.0 30.5 37.1 25.4 29.7 JULY 49.2 52.3 45.8 50.4 49.4 55.5 44.1 49.6 AUGUST 61.5 66.5 60.9 61.2 61.1 68.4 55.2 60.9 SEPTEMBER 71.0 75.8 70.8 71.1 70.4 77.2 65.0 70.1 OCTOBER 79.3 83.8 80.7 79.8 78.2 82.9 74.8 77.4 NOVEMBER 85.0 90.3 87.9 85.4 83.4 87.3 79.9 83.8 DECEMBER 88.6 92.5 91.0 89.3 87.2 90.8 83.6 88.2 91.8 95.4 93.3 92.2 90.7 93.4 87.2 92.8 FEBRUARY 93.5 96.3 95.1 93.7 92.5 94.6 89.7 94.2 MARCH 95.0 97.7 96.4 94.9 94.1 95.7 91.8 95.8 APRIL 96.7 98.9 97.7 96.6 96.0 97.8 93.8 97.4 MAY 97. 7 99.8 98.6 97.6 97.1 99.0 95.1 98.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 J A N U A R Y JUNE OR LATER 1/ INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY W E E K L Y REPORTING BANKS. 2/ TOTAL D E P O S I T S AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARF THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE R E G A R D E D AS BEING OF THE HIGHEST QUALITY 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 MARKET. SALFS Zl/ CF NEGCTIABl E TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY S U E OF BANKS 3/ AS OF 28 MAY 1969 PERCENTAGE CISTR IBUTION TABLE S I B I L L I O N AND OVER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION 27.0 24.8 32.3 11 .6 10.0 20.7 25.9 SEPTEMBER 2.6 OCTOBER C O 1 S MATURING IN TOTAL $200 MILLION AND UNDER PRIME 4 / OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CI TY 30.9 29.0 27.8 35.8 9.4 7.9 6.7 8.3 8.5 21.o 16.0 21.1 24.9 19.4 19.3 2.3 2.9 2.3 2.6 3.2 3.0 1.7 4.4 3.1 4.4 4.6 4.6 2.9 7.7 3.3 NOVEMBER 21.3 21.0 26.6 22.2 19.1 17.6 19.9 19.7 DECEMBER 3.7 1.7 2.6 2.2 5.3 6.3 4.4 5.3 1.1 2.3 0.8 0.8 1.2 0.7 0.8 2.0 FEBRUARY 0.5 0.6 0.6 0.8 0.4 0.2 0.6 0.4 MARCH 0.5 0.4 0.9 0.7 0.2 0.0 0.4 0.2 APRIL 0.9 0.3 1.4 0.9 0. 8 0.5 1.2 0.7 MAY OR LATER 5.6 3.8 3.1 7.9 5.8 7.9 6.6 3.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 MAY 2 9-31 JUNE 29.7 JULY 9.0 AUGUST 1970 JANUARY TOTAL TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) 10 0.4 1.2 0.5 0.3 0.2 0.4 0.1- 0.4 JUNE 16 2.9 1.2 3.0 2.3 3.5 2.4 2.9 5.1 JUNE NUMBER OF BANKS) (MEMORANDUM: 263 2/ INCLUIES^CERTI F I C A T ^ S ^ I N * D E N O M I N A T I O N S OF 90 $100,000 CR MORE 85 51 37 12 ISSUED BY WEEKLY REPORTING BANKS. V , PRIME BA^KS'ARF^THOSF^WHOSE' NEGOT I ABLE CE RT I F I C AT ES^OF^ DEPOs'l T^ARE^REGAROED^ AS^BE ING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DE AL CC! S TO TRADE WITH IN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. * TOTALS MAY N O T ADT DUE TC ROUNDING. 18 t 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 28 MAY 1969 30-APR 1969 26 MAR 1969 (BY LOCATION ) ALL REPORTING BANKS ISSUING CD'S 3.2 3.4 3.4 NEW YORK CITY 2.9 3.0 3.0 CHICAGO 2.9 2.9 3.2 OTHER 3.3 3.5 3.5 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 2.8 2.9 2.8 f200-$500 MILLION 3.1 3.3 3.5 $500-$l,000 MILLION 3.2 3.3 3.4 OVER $1 BILLION 3.3 3.4 3.4 PRIME IN NEW YORK CITY 3/ 2.8 2.9 3.0 PRIME OUTSIDE NEW YORK CITY 3/ 3.7 3.8 3.9 NON-PRIME 3.2 3.4 3.4 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ T° T A L DEPOSITS AS REPORTED IN THE CALL REPORT CF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARF THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARF REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET, TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS ( I N MONTHS) DATE OF SURVEY BANK C L A S S I F I C A T I O N 28 MAY 1969 30-APR 1969 26 MAR 1969 (BY LOCATION I ALL REPORTING BANKS ISSUING CD'S 3.5 3.5 3.6 NEW YORK C I T Y 3.5 3.4 3.4 CHICAGO 3.6 3.8 3.7 OTHER 3.5 3.5 3.7 (BY S I Z E OF BANK) 2/ UNDER $200 M I L L I O N 3.3 3.1 3.3 S200-S500 M I L L I O N 3.5 3.5 3.4 3.6 3.3 3.6 3.5 3.7 3.7 3.6 3.2 3.3 3.7 4.1 4.4 3.2 3.7 3.4 $5C0-$1,000 OVER viLLION $1 B I L L I O N PRIME I N NEW YORK CITY 3 / PRIME OUTSIDE NEW YORK CITY NCN-PRIMF 3/ 1/ INCLUDES C E R T I F I C A T E S IN D E N C M NATICNS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL D E P O S I T S A S REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 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—SEE TECHNICAL APPENDIX 8. 1965. T A B L E 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) 28 MAY 1969 30 APR 1969 26 MAR 1969 ALL BANKS ISSUING CD'S 7.9 7.8 8.7 UNDER 200 7.7 7.2 7.5 200 - 500 8.5 8.4 8.5 500 - 1000 8.7 8.3 9.0 OVER 1000 7.5 7.6 8.9 PRIME IN NEW YORK 3/ 6.5 6.6 8.4 PRIME OUTSIDE NEW YORK 3/ 7.0 7.3 8.2 10.3 9.9 11.0 NONPRIME 1/ INCLUDES C E R T I F I C A T E S T N DENOMINATIONS OF $100,000 OR M O R E 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 DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS* INCLUDING INTERBANK AND U.S. G O V E R N M E N T DEPOSITS. TABLE 56 PATIO OF NEGOTIABLE OUTSTANDING TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 28 MAY 1969 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ T (IN MILL °NS OF DOLLARS) 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CO TO DEPOSIT RATIO (PER CENT) ALL BANKS ISSUING CD'S 84 94 43 29 8 5 7.9 UNDER 200 38 25 15 7 2 3 7.7 - 50C 29 27 14 10 3 2 8.5 13 21 8 6 3 0 8.7 4 21 6 6 0 0 7.5 PRIME IN NEW YORK 3/ 0 7 0 0 0 0 6.5 PRIME OUTSIDE NEW YORK 3/ 2 8 1 1 0 0 7.0 NONPRIME 2 6 5 5 0 0 10.3 2C0 5CO OVER 1000 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 APE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. 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 5C D FR CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 30 APR 1969 TO 28 MAY 1969 (NUMBER OF BANKS) (IN MILL I QMS OF DOLLARS) INCREASES OF DECLINES OF T n TA L DEPCSITS 2/ CD'S TO ZERO ALL BANKS TSSU T NH CD'S 10% OR MORE 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 22 32 72 27 44 27 38 14 9 10 23 0 22 13 10 1 UNDER 200 0 6 6 22 20C - 500 0 5 9 16 9. 500 - 1C0C 0 3 9 18 4 9 3 5 0 OVER 0 8 8 16 0 4 1 0 0 PRIME IN NEW YORK 3/ 0 3 3 1 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 3 4 3 0 2 0 0 0 NONPRI ME 0 2 1 12 0 2 1 0 0 10C0 1/ INCLUDE S CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONCITION 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 I 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 LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. T A B L E 50 PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 26 FEB 1969 TO 28 MAY 1969 (NUMBER OF BANKS) TOTAL D E P O S I T S /?. (IN ^ T L L T ^ M S OF DOLLARS) ALL REDUCED CD'S 2 5 % TO 09 ZERO MORE R A N K S ISSUING CD' S INCREASE OF DECLINES OF 20 TO 25% 15 TO 10 TO 15% 20% 5 TO 10% 5% OR LESS NO CHANGE 5 TO 5% OR LESS 10% 35 12 19 32 31 27 18 19 15 20 TO 25% 15 TO 10 TO 15% 20% 25% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 34 15 UNDER 200 1 9 4 2 8 14 8 3 9 4 3 8 1 15 2 200 - 500 0 5 2 7 9 7 10 5 6 8 1 4 2 18 1 500 - 1000 0 10 0 6 8 8 5 2 2 2 2 3 2 1 0 0 11 6 4 7 2 4 0 2 1 0 0 0 0 0 0 5 2 0 0 0 0 0 0 0 0 0 0 0 0 PR TMF °UTSIDE NEW YORK 3/ 0 4 0 1 4 1 1 0 1 0 0 0 0 0 0 NONPRIME 0 2 4 3 3 1 3 0 1 1 0 0 0 0 0 OVER 1000 PRIME IN NEW YORK 3/ 1/ INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF $100,000 OR MORE p 2/ TOTAL D E P O S I T S AS 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE H I G H E S T QUALITY AND WHICH ARE REPORTED RY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE— FPORTED ISSUED BY WEEKLY REPORTING BANKS. IN THE CALL REPORT OF CONDITION ON DECEMBER 31$ 1965. 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 T H R E E MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TC ZERO. TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT I t OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 30 APR 1969 TO 28 MAY 1969 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) DECLINES OF 3% AND OVER 2 TO 3% 1 TO 2% INCREASES OF 1% ANO LESS NO CHANGE IX AND LESS 1 TO 2* 2 TO 3% 3% AND OVER ALL BANKS ISSUING CD'S 0 2 13 114 27 79 17 6 4 UNDER 2 00 0 0 4 31 14 25 8 5 3 200 - 5C0 0 1 4 27 9 34 8 0 I 500 - 1000 0 0 2 28 4 15 1 1 0 OVER 0 1 3 28 0 5 0 0 0 PRIME IN NEW YORK 3/ 0 0 1 6 0 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 1 1 8 0 2 0 0 0 NONP°I ME 0 0 1 14 0 3 0 0 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 CONCITION 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 DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS# INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. TABLE 5F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 26 FEB 1969 TO 28 MAY 1969 (NUMBER OF BANKS) ( IN MILL I INS OF DOLLARS) INCREASES OF DECLINES OF TOTAL DEPOSITS 2/ 5% AND OVER 3 TO 4S 4 TO 51 1% AND LESS 1 TO 2 TO 3% 2% NO CHANGE 1% AND UNDER 5% AND OVER 4 TO 5% 3 TO 4% 2 TO 3% 1 TO 2% ALL bANKS ISSUING CD'S 4 4 11 22 39 78 10 46 26 7 5 4 5 UNDER 2 CO 1 1 2 4 12 26 3 17 11 3 3 2 4 200 - 500 1 1 1 6 7 24 5 21 11 3 2 1 1 500 - 1000 1 1 3 4 11 17 2 7 3 I 0 1 0 OVER 1 1 5 8 9 11 0 1 I 0 0 0 0 PR IME IN NEW YORK 3/ 0 0 4 2 1 0 0 0 0 0 0 0 0 PRIME HUTS IDE NEW YORK 3/ 1 0 1 2 3 5 0 0 0 0 0 0 0 NONPRIME 0 1 0 4 5 6 0 1 1 0 0 0 0 10CC 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100*000 OR MORE ISSUED BY WEEKLY REPORTING 6ANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONCITION ON DECEMBER 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- 31t 1965. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITSt INCLUDING INTE R 3 A NK 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 28 MAY 1969 (AMOUNTS IN MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 6.5 1.9 8.0 36.3 57.1 569.2 106.5 57.8 113.1 335.0 817.4 137.0 420.2 59.9 51.3 110.0 365.8 689.1 47.6 65.0 280.7 47.2 29.8 97.6 154.9 404.1 114.1 72.0 57.5 229.6 47.0 23.9 45.3 122.9 296.8 34.4 89.5 54.9 68.2 170.8 31.5 20.0 60.0 116.1 363.7 246.4 33.6 67.9 32.1 48.3 130. 8 39.4 10.7 34.5 71.6 195.5 69.1 185.0 14.9 46.2 13.3 22.8 67.5 30.2 6.1 13.3 52.4 92.0 537.7 22.6 134.0 21.5 51.9 6.8 20.3 58.2 12.5 3.9 9.3 61.1 135.6 FEB 280.5 10.7 61.3 11.1 26.6 11.0 14.1 38.8 5.6 2.3 5.1 14.3 79.6 MAR 246.9 10.5 54.9 6.6 19.1 5.8 5.7 41.0 4.2 0.4 5.7 31.3 61.7 APR 293.7 9.9 97.4 7.1 34.8 6.6 4.3 30.4 13.1 0.4 6.6 20.6 63.5 "AY 175. 3 5.0 46 .0 10.4 11.5 2.9 7.2 21.6 4.9 0.4 2.5 21.3 41,6 J UN OR LATER 392.0 14.6 52.4 12.8 195.8 9.3 10.7 36.6 7.4 5.0 0.2 16.0 31.2 16971.0 1052.1 4894.0 508.2 1375.9 491.3 629.5 2130.5 415.9 213.9 511.2 1419.6 3328.9 AVERAGE MATURITY IN MONTHS 2/ 3.2 2.9 2.8 3.2 4.5 3.1 3*2 3.1 3.5 2.7 2.9 3.1 3.2 NUMBER OF REPORTING BANK S 263 18 49 10 16 16 23 36 11 5 21 25 33 ALL DI STRICTS BnSTnN 259.2 18.4 J UN 4721.6 JUL CD'S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 54.0 6.7 13.6 15.3 5.3 342.3 1670.4 160.2 265.0 121.6 163.1 3374.9 175.4 909.5 92.1 272.5 92.1 AUG 2083.0 107.4 634.1 47.2 167.4 SEP 1616.0 107.0 450.3 49.6 OCT 1410.8 103.4 298.3 NOV 967.6 56.8 DFC 612.8 1970 JAN 1969 MAY 28--MAY 31 TOTAL * NEW YORK CHICAGO 35. 1 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNIC AL AP? c \ ,r MX 8. * DETAILS MAY NOT All TO TQTALS DUE TO ROUNDING. TABLE 6B 1/ 2/ SALES CF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 28 MAY 1969 (AMOUNTS CD'S MATURING IN IN MILLIONS OF DOLLARS) ALL 01 s - NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO TRICTS BOSTON 1969 J UN 780.7 57.5 230.3 31.5 42.8 20.8 23.5 68. 8 6.8 5.2 23.6 104*4 165.5 JUL 237.0 14.4 57.4 9.7 13.8 6.4 16.4 24.0 3.2 0.7 7,7 21.4 61,9 AUG 543.2 38.4 173.2 13.5 25.3 18.5 18.4 52.8 11.1 7.3 32.3 33.6 118.8 SEP 67.0 4.5 20.7 2.6 6.3 3.2 5.3 3.5 4.9 0.5 0.2 1,6 13.7 OCT 116.6 5.4 23.4 3.5 7.8 6.6 6.7 16.0 2.8 2.8 2.4 7.0 32.2 NOV 561.6 24.6 137.5 24.1 25.4 22.2 35.9 66.2 29.4 8.3 29.2 54,6 104.2 DEC 98.0 4.9 37.7 0.7 4.9 0.3 1.6 11.7 3.6 1.0 4.3 4.1 23.2 1970 JAN 29.9 0.8 6.3 0.8 0.5 0.9 0.4 5.1 1.8 0.4 0.3 7,6. 5.0 FEB 14.8 1.3 2.0 1.3 0.4 1.4 0.2 2.0 1.1 0.5 1.6 0.3 2.7 MAR 12.7 1.0 1.4 0.3 0.5 1.6 1.9 2.5 1.1 0.0 0.0 0.2 2.2 APR 23.0 1.9 5.7 0.7 0.5 1.3 0.1 1.3 5.3 0.0 0.0 0.5 5.7 146.0 4.7 46.5 7.9 3.6 4.6 9.0 14.8 7.1 0.4 2.5 18.3 26.6 2630.5 159.4 742.1 96.6 131.8 87.8 119.4 268.7 7 8.2 27.1 104.1 253.6 561.7 3.5 2.9 3.4 3.6 3.0 3.8 4.0 3.7 5.4 3.7 3.4 3.2 3.3 MAY TOTAL OR LATFD * AVERAGE MATURITY IN MONTHS 3/ 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINAT ICNS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX 8. * DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING. TTAffilF 6C MATURITY DISTRimiTION OF OmTSTMIBlW NE©0)TMfflLE ITIME CBRWlFECSTiES GIF BEPII1S11 1/ M MEBKILV BBFWTEfWS O/WWCS WW FEDERAL FRES0BWE BBISTIEIEW m OF 2® mww I%<I IFEECEOTSGE EESimimumEmmm co'S maturing in 1969 MAY 28-MAY 31 JUN all 01 sMEM PMIMfc- C1EWETRICTS BOSTON! YORK OELimiS u_m# 1.5 27.8 1.7 32.5 1.1 34.1 1.3 31.5 1 .CD E<9.3 fiRnraAlilLAWTO OtiEOMBBD (3D.® 25.S 1.6 26. ir 21.® 3.E 24.® 1 SIT. EEMME- KillSlKS i UGBHE$ AkWHILES CI Fir BWUB sue FRWeisce l.T 25.6 ®-S 2W.® 22.1 23.6 E9L7F 1%.% 24.® 21.5 25.® 1S.1 1®.S S.S «.¥ 12-1 #.# 9L4 11.T 0.2 1S.S 1.6 1.6 2.6 24.6 JUL AUC 19.9 16.7 18.6 1B.1 19?.® Hff., 7f 12.3 10.2 13.0 9.3 12.2 9.7 EGD-3 13.2 11.3 13.# SEP 9.5 9.2 9.0 ffi.3 14.1F 9P.1 1®.® 8.3 6.1 6.® 11.2 8UGD NOV 5.7 5.4 5.0 6.6 6.5 4.9? 11.3 Tf.6 11.2 OCT 10.Z 9.8 6.5 W.W 6.1 #.5 5.® 6.TF 5.0 5.S • EC 3.6 6.6 3.8 2.9 3.4 2.TT 3.6 3.2 TT.3 2.# 2.S 3.ir Z.S 1970 JAN 3.2 2.1 2.7 4.2 3.® 1.4 3.2 2.? 3.® l.S 1.S - 4.3 4.1 FEB 1.7 1.0 1.3 2.2 l.S 2.2 2.2 1«E 1.3 1.1 1.® I.® 2.4 MAR APR 1.5 1.1 2.0 1.3 ($.<$ t.S i.® <SW2 1.1 2.2 l.S 1.4 1.4 2.5 1.2 1.7 1.0 0.8 1.3 ®.W 1.4 3.1 ®.2 1.3 1.5 l.S MAY 1.0 0.5 0.9 2.0 CD. @ 05.6 1.1 1.® 1.2 ®.2 6.5 1.5 1.2 JUN OR LATER 2.3 1.4 1.1 2.5 l.TT l.¥ 1.® 2.3 0.8 l . l ®.S 100.9 100.0 10X31.® Iffld.® 1M.O TOTAL * 1/ INCLUDES ONLY C E R T I F I C A T E S ISSUED IN 100.0 10# . 0 14.2 1®@.@ 1.9 1(8# 1®.® 1®®.® IS®.® DE&OWI WAT I CMS OF $ 100# @ 0 # OR? W O R E BY W E E K I Y REfWJWYIflC BSWS* 1@®.@ ifliJ TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF D E P O S I T 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 28 MAY 1969 (CUMULATIVE PERCENTAGE) C D ' S MATURING IN ALL 01 S TRTCTS ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO BfSTCN 1.5 1.7 1.6 1.6 0.9 1.6 2.6 1.7 J UN 29.3 26.7 28.3 27.2 27.9 23.7 26.2 26.3 JUL 46.6 48.5 48.0 41.6 51.9 45.2 52.0 47.0 52.3 56.3 58.8 61.2 52.9 65.8 64.3 62.9 59.1 70.0 60.6 71.0 67.9 72.0 64.2 77.0 73.2 71.6 68.0 92.1 76.8 67.1 82.2 78.7 80.0 71.8 86.4 84.9 79.8 78.9 86.5 87.1 83.4 72.0 88.7 86.4 86.1 81.3 91.4 91.6 84.8 84.8 88.6 93.1 90.9 86.3 75.4 91.4 90.0 89.3 88.6 94.3 94.2 88.5 87.6 JAN 91.8 95.2 93.6 90.5 79.2 92.8 93.2 92.0 91.6 96.1 96.0 92.8 91.7 FEB 33.5 96.2 94.9 92.7 81.1 95.0 95.4 93. 8 92.9 97.2 97.0 93.8 94.1 MAR 95.0 97.2 96.0 94.0 82.5 96.2 96.3 95.7 93.9 97.4 98.1 96.0 96.0 APR 96. 7 98.0 98.0 95.4 85.0 97.5 97.0 97.1 97.0 97.6 99.4 97.5 97.9 MAY 97. 7 98.5 98.9 97.4 85.8 98.1 98.1 98.1 98.2 97.8 99.9 99.0 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 PHILADELPHIA CL EVELAND 1.1 1.3 1.0 3.1 0.8 34.2 35.2 32.8 20.3 27.9 49. 2 50.9 53.8 50.9 40.1 AUG 61.5 61.1 66.8 60.2 SEP 71.0 71.3 76.0 r»CT 79.3 81.1 NOV 85.0 DEC MAY 29--MAY 31 J UN OR LATER 1/ INCLUDES O N L Y C E R T I F I C A T E S NEW YORK RICHMONO ATLANTA CHICAGO ISSUED IN DENOMINAT ICNS OF $100,000 OR MORE BY WEEKLY REPORTING B A N K S . TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 28 MAY 1969 (PERCENTAGE DISTRIBUTION) CD 1 S MATURING IN ALL DI STRICTS BOSTON 1969 J UN 29.7 36.1 JUL 9.0 AUG ST. LOUI S MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 25.6 8.7 19.2 22.7 41.2 29.5 13.7 8.9 4.1 2.6 7,4 8.4 11.0 21.1 15.4 19.7 14.2 26.9 31.0 13.2 21.2 4.8 3.6 4.4 1.3 6.3 1.8 0.2 0.6 2.4 3.6 5.9 7.5 5.6 6.0 3.6 10.3 2.3 2.8 5.7 18.5 24.9 19.3 25.3 30.1 24.6 37.6 30.6 28.0 21.5 18.6 3.1 5.1 0.7 3.7 0.3 1.3 4.4 4.6 3.7 4.1 1.6 4.1 1.1 0.5 0.8 0.8 0.4 1.0 0.3 1.9 2.3 1.5 0.3 3.0 0.9 FEB 0.6 0.8 0.3 1.3 0.3 1.6 0.2 0.7 1.4 1.8 1-5 0.1 0.5 MAR 0.5 0.6 0.2 0.3 0.4 1.8 1.6 0.9 1.4 0.0 0.0 0.1 0.4 APR 0.9 1.2 0.8 0.7 0.4 1.5 0.1 0.5 6.8 0.0 0.0 0.2 1.0 MAY OR LATER 5.6 2.9 6.3 8.2 2.7 5.2 7.5 5.5 9.1 1.5 2.4 7.2 4.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 31.0 32.6 32.5 23.7 19.7 9.0 7.7 10.0 10.5 7.3 20.7 24.1 23.3 14.0 19.2 SEP 2.5 2.8 2.8 2.7 OCT 4.4 3.4 3.2 NOV 21.3 15.4 DEC 3.7 1970 JAN TOTAL * NEW YORK RICHMOND ATLANTA CHICAGO 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINAT ICNS 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 ADO 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 regulation's is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month--after the survey d a t e — a r e assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. 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. 4 * +1 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 compatibility 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.
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