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June 21, 1971




L.4.1
CONFIDENTIAL (FR)

SURVEY OF MATURITY STRUCTURE OF
OUTSTANDING LARGE DENOMINATION CERTIFICATES
OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS
AS OF
May 26, 1971

Banking Section
Division of Research and Statistics
Board of Governors of the Federal Reserve System

TABLE

1

1/
MATURITY

DISTRIBUTION

OF

OUTSTANDING
WEEKLY
AS

CD'S

MATURING

1971

MAY

NEGOTIABLE
REPORTING

OF

AMOUNT
( M I L L I O N S OF
DOLLARS)

IN

26

MAY

TIME

CERTIFICATES

OF

DEPOSIT

AT

BANKS
1971

PERCENTAGE
D I S T R I BUT ION

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 )

2.6

2.6

.0

JUNE

8, 8 9 6 . 8

31 .6

34.2

3,2 8 9 . 3

JULY

4,686.6

16 .7

50.9

1,346.C

AUGUST

3,605.5

12 .8

63. 7

1,879.3

SEPTEMBER

2,128.7

7.6

71.3

308.0

OCTOBER

1,808.5

6.4

77.7

196. e

NOVEMBER

1,413.7

5.0

82.7

535. 6

DECEMBER

1,064.7

3 .8

86.5

89.8

JANUARY

889.6

3 .2

89.7

78.9

FEBRUARY

556. 1

2 .0

91.7

40.9

MARCH

8 83.5

3.1

94.8

26.3

APR IL

618.7

2.2

97.0

53.4

MAY

1972

726.4

255.3

.9

97.9

324.7

604.0

2.1

100.0

XXX

28, 1 3 8 . 2

100.0

XXX

8,168.9

27 -

OVER

31

12 M O N T H S
TOTAL

(MEMORANDUM:
JUNE
JUNE

511.2
1,209.5

10
15

1/

INCLUDES

2/

SEE

TAX

ONLY

TECHNICAL

CERTIFICATES
APPENDIX

IN D E N O M I N A T I O N S

A.


http://fraser.stlouisfed.org/ S A L E S OF C D ' S M A T U R I N G A F T E R
3/
Federal Reserve Bank of St. Louis

11

MONTHS.

AND

DIVIDEND

MATURITIES)
XXX
XXX

1 .8
4.3

OF

*100,000

OR

MORE

ISSUED

BY W E E K L Y

215.3
213. 7

REPORTING

BANKS.

3/

TABLE

2A

1/
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 T I M E C E R T I F I C A T E S
NEW YORK C I T Y , C H I C A G O , AND ALL OTHER W E E K L Y R E P O R T I N G
AS
(IN
NEW

CD'S

MATURING

1971

MAY

27 -

MAY

SALES
PREVIOUS

MILLIONS

MAY
OF

SINCE
MONTH

AT

1971
DOLLARS)
ALL

CHICAGO
AMOUNT
2/

SALES
PREVIOUS

SINCE
MONTH

OTHER

WEEKLY

AMOUNT
2/

REPORTING

SALES
PREVIOUS

.0

466.1

.0

JUNE

3, 19 3 . 3

1,279.6

5 8 9 .3

201.8

5,114.3

1,307.9

JULY

1,442.1

557.9

343.3

77.9

2,901.2

710.3

AUGUST

1,340.9

689.4

242.1

155.6

2,022.5

1,034.2

SEPTEMBER

825. 9

164.2

104.5

21.5

It 1 9 8 . 3

122 .4

OCTOBER

638.2

69.8

184.2

4.2

986. 1

122.8

NOVEMBER

357.2

1C5.7

116.4

22.4

940.1

407.5

DECEMBER

391.4

43. 8

79.0

4.1

594.4

42.0

JANUARY

291.9

21.5

123.9

.4

473.8

57.1

FEBRUARY

249.C

7.3

52 .6

4.9

254. 5

28 .8

MARCH

434. 3

3.9

99.8

3.5

349. 3

18.9

APRIL

1972

RANKS

SINCE
MONTH

44.9

.C

215. 5

31

26

YORK CITY

AMOUNT

IN

OF

OF D E P O S I T
BANKS

2C7.4

7.5

57.9

3.4

353. 4

42.4

45.3

69.6

9 .6

17.4

200.4

237.7

87.2

XXX

18 .7

XXX

498.2

XXX

9,719.6

3,020.2

2,066.2

517.1

16,352.5

4,632.0

MAY
OVER

12 M O N T H S
TOTAL

NUMBER

OF

*

REPORTING

/3

(MEMORANDUM:
JUNE
JUNE

279.3
664. 1

10
15

1/

INCLUDES

2/

SEE

3/

SALES

ONLY

TECHNICAL
OF

CD'S

CERTIFICATES
A.

MATURING

AFTER

11 M O N T H S .


* TOTALS MAY
http://fraser.stlouisfed.org/ N O T A D D D U E TO R O U N D I N G .
Federal Reserve Bank of St. Louis

TAX

AND

OF

DIVIDEND

MATURITIES)

$ 1 0 0 , 0 0 0 OR

MORE

ISSUED

223.8
460. 5

2.7
16.5

8.1
85.0

154.0
127.7

IN D E N O M I N A T I O N

APPENDIX

232

11

12

BANKS

/3

BY W E E K L Y

REPORTING

BANKS.

58 .6
69.6

Z3

2/




TABLE

28

1/
M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T
NEW YORK C I T Y , C H I C A G O , AND ALL
AS OF 26 MAY

AT

OTHER W E E K L Y R E P O R T I N G B A N K S

1971 AND 2 8 APR

1971

(PERCENTAGE DISTRIBUTION)

IN

26 MAY

ALL

CHICAGO

NEW YORK C I T Y
CD'S MATURING

28 APR

26 MAY

28

26 MAY

APR

OTHER
28 APR

2.2

4.7

2.2

1.4

2.8

3.8

01 M O N T H S 3/

32.9

25.9

28.5

20.3

31.3

25.7

02 MONTHS

14. 8

20.5

16.6

20.2

17.7

20.7

03 MONTHS

13.8

9.5

11.7

13.8

12.4

13.7

04 MONTHS

8.5

7.0

5.1

4.5

7.3

6.2

05 M O N T H S

6.6

7. 1

8.9

4.3

6.0

6.7

06 M O N T H S

3.7

6. 1

5.6

9.4

5.7

5.4

0 7 MONTHS

4.0

2.7

3.8

4.9

3.6

3.3

08 M O N T H S

3.0

3.7

6.0

3.9

2.9

3.5

09 M O N T H S

2.6

2.9

2.5

6.4

1.6

2.6

10 M O N T H S

4.5

2.6

4.8

2.5

2.1

1.4

11 M O N T H S

2.1

4.6

2.8

5.0

2.2

2.1

12 M O N T H S

.5

2. 1

.5

2.8

1.2

1.9

.9

.7

.9

.6

3.0

2.9

100.0

100.0

100.0

100.0

100.0

100.0

0-6

OVER

DAYS

12 M O N T H S

TOTAL

1/

2/

*

INCLUDES ONLY CERTIFICATES

IN D E N O M I N A T I O N S OF

$ 1 0 0 , 0 0 0 OK 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

BANKS.
2/ N U M B E R OF 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 THE
F O L L O W I N G THE LAST W E D N E S D A Y OF THE M O N T H .
3/ N U M B E R
•

OF M O N T H S F O L L O W I N G

T O T A L S MAY NOT

THE S U R V E Y M O N T H .

ADD DUE TO R O U N D I N G .

NUMBER OF D A Y S




TABLE

2C

1/
MATURITY

DISTRIBUTION
NEW

YORK

OF O U T S T A N D I N G

CITY,

CHICAGO,

AS OF

NEGOTIABLE

AND ALL

26 MAY

1971

(CUMULATIVE

rnic

MATIIO FMC

NEW

rM
26

0— 6 i A Y S 2 /
D

YORK

MAY

OTHER

CERTIFICATES

WEEKLY

A N D 28 APR

REPORTING

OF

DEPOSIT

AT

BANKS

1971

DISTRIBUTION)

CITY
28

TIME

CHICAGO
APR

26

MAY

ALL
28

26

APR

OTHER

MAY

28

APR

2.2

4.7

2.2

1.4

2.8

3.8

35.1

30.6

30.7

21.7

34.1

29.5

02 MONTHS

49.9

51.1

47.3

41.9

51.8

50.2

03

MONTHS

63. 7

60.6

59.0

55.7

64.2

63.9

04

MONTHS

72.2

67.6

64.1

60.2

71.5

70. 1

05 MONTHS

78.8

74.7

73.0

64.5

77.5

76.8

06 M O N T H S

82.5

80.8

78.6

73.9

83.2

82.2

07

MONTHS

86.5

83.5

82.4

78.8

86. 8

85.5

08

MONTHS

89.5

87.2

88.4

82.7

89.7

89.0

09 M O N T H S

92.1

90.1

90.9

89.1

91.3

91.6

10 M O N T H S

96.6

92.7

95.7

91.6

93.4

93.0

MONTHS

98.7

97.3

98.5

96.6

95.6

95.1

12 M O N T H S

99.2

99.4

99.0

99.4

96.8

97.0

100.0

100.0

100.0

I 00.0

100.0

100.0

OF

OR M O R E

01

11

OVER

1/

MONTHS

3/

12 M O N T H S

INCLUDES ONLY
BANKS.

CERTIFICATES

IN D E N O M I N A T I O N S

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
THE L A S T W E D N E S D A Y OF T H E M O N T H .

3/ N U M B E R

MONTHS FOLLOWING

OF

THE

SURVEY

MONTH.

$100,000

ISSUED

P E R I O D V A R I E S WITH

THE

BY W E E K L Y

NUMBER

OF

REPORTING

DAYS

TABLE

MATURITY

3A

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
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 2/
AS OF 26 M A Y 1971
( A M O U N T S IN M I L L I O N S OF D O L L A R S )

DEPOSIT

1/

SI B I L L I O N

PRIME

M I L L ION
TO
$1 B I L L I O N

$500

$200
MILLION
AND UNDER

MILLION
TO
$500 MILLION

726.3

62.3

144.4

110.7

8,896.9

579.7

1,245.2

1,427.2

5,644.8

JULY

4,686.6

315.0

697.7

7 2 6 .4

AUGUST

3,605.4

238.7

505.7

SEPTEMBER

2,128.7

136.4

OVER
3Z

408.9

JUNE

CD'S

AND

MATURING

1971 M A Y

TOTAL

IN

27-31

OUTSIDE
NEW YORK
CITY

NON-PRIME

3 , 0 8 2 .5

1,513.7

1 ,048.6

2,947. 5

1,400.4

1,036.8

510.3

493.8

2,367.2

1,256.9

696.6

413.7

251.7

336.4

1,404.2

770.4

379.6

254.2

109.4

in

00
o
00

OCTOBER

$200

273.9

245.8

1,179.4

593.6

377.9

207.9

TOTAL
N E W YORK
CITY

NOVEMBER

92. 1

207.7

255.5

858.3

344.3

313.4

200.6

DECEMBER

1,064.7

45.2

99.4

142.7

777.4

356.3

2C9.1

212.0

JANUARY

889.6

46. 5

77.9

140.9

624.3

275. 1

191.1

158.1

556.0

34.7

33.4

87.9

400.0

212.3

103.0

84.7

FEBRUARY
MARCH

883.5

32.7

52.5

90.7

707.6

408.9

215.1

83.6

APRIL

618.7

30.1

65.2

68.9

454.5

152.3

178.5

123.7

MAY

255.3

20. 1

37.9

49.1

148.2

43.3

68.4

36.5

JUNE
OR L A T E R

1972

1,413.6

6 (j 4 • G

33.4

56.7

141.9

372.0

86.6

212.1

73.3

1,776.3

3,749.3

4,317.9

18,294.3

9,195.2

5,625.8

3,473.3

TOTAL

28, 137s 8

*

-- ( M E M O R A N D U M :

TAX

AND

DIVIDEND

MATURITIES)

JUNE

10

511.2

27.3

56.1

44.7

383.1

279.2

64.3

39.6

JUNE

15

1,209.4

38. 9

7g.g

115.6

976.0

649.6

217.5

10R.9

12

18

(MEMORANDUM:
85

255

1/

INCLUDES

CERTIFICATES

" Sirs


*
TOTALS M
http://fraser.stlouisfed.org/A Y N O T
Federal Reserve Bank of St. Louis

IN D E N O M I N A T I O N S

OF

*100,000

NUMBER
83

OR M O R E

I S S U E D BY

OF

BANKS)
37

50

WEEKLY

REPORTING

BANKS.
TY

ADD

DUE

TO R O U N D I N G .

AND

WHICH

AHF

TABLE

3B

SALES

/ ! / OF N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T S I N C E P R E V I O U S M O N T H
A T W E E K L Y R E P O R T I N G B A N K S B Y S I Z E OF B A N K S 3/
A S O F 26 MAY 1 9 7 1
( A M O U N T S IN M I L L I O N S O F D O L L A R S *

2/

$1 B I L L I O N

CD1S

MATURING

IN

TOTAL

*200
MILLION
AND UNDER

PRIME

*500

*200

MILLION
TO
*500 MILLION

AND

MILLION
TO
*1 B I L L I O N

OVER
4/

1971

MAY

OUTSIDE
NEW YORK
CITY

NON-PRIME

NEW YORK
CITY

TOTAL

27-31

JUNE

193.8

364.3

494.1

2,237.2

1,245.2

496.6

495.4

JULY

1,346.1

87.6

135.3

178.0

945.2

548.8

290.4

106.0

AUGUST

1,879.1

106.4

257.2

249.6

1,265.9

654.9

414.0

197.0

SEPTEMBER

308.1

17.5

23.4

43.4

223.8

141.5

50.5

31.8

OCTOBER

196.7

8.6

34.1

33.3

120.7

65.1

36.1

19.5

NOVEMBER

535.5

43.6

100.0

85.4

306.5

101.8

122.5

92.2

DECEMBER

89. 8

9.0

6.8

12.2

61.8

38.6

7.8

15.4

JANUARY

78.9

6.0

5.4

10.6

56.9

12.0

17.1

27.8

FEBRUARY

40.9

4.0

2.0

6.2

28.7

6.8

15.2

6.7

MARCH

26.4

2.3

7.9

4.0

12.2

3.9

8.0

0.3

APRIL

1972

3,289.4

53.3

5.0

7.1

16.5

24.7

7.5

13.7

3.5

324.7

27.2

42.9

62.4

192.2

68.6

84.0

39.6

8,168.9

511.C

986.4

1,195.7

5,475.8

2,894.7

1,555.9

1,025.2

MAY
OR

LATER

TOTAL

*

TAX

AND
i

DIVIDEND

MATURITIES)

JUNE

10

215.3

9.4

8.7

13.0

184.2

154.0

15.1

15.1

JUNE

15

213.6

9.5

15.2

7.7

181.2

124.2

33.4

23.6

37

7

12

18




I MO r
FIR R A M V C
rlUriucKn Ur DArilxbJI

(MEMORANDUM:
255

85

83

50

_____

ARE

T A B L E 3C

M A T U R I T Y D I S T R I B U T I O N OF OUTSTANDING N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T
AT WEEKLY REPORTING B A N K S BY SIZE OF BANKS 2/
AS OF 26 MAY 1971
PERCENTAGE D I S T R I B U T I O N

1/

$1 BILL ION AND OVER

CD'S MATURING

1971 MAY

IN

27-31

TOTAL

$200
MILLION
AND UNDER

$200 MILLION
TO
$500 MILLION

$500 MILLION
TO
$1 BILLION

PRIME
TOTAL

NEW YORK
CITY

3/
OUTSIDE
NEW YORK
CITY

NON-PRIME

2.6

3.5

3.9

2.6

2.2

2.3

2.3

1.9

JUNE

31.6

32.6

33.2

33.1

30.9

33.5

26.9

30.2

JULY

16.7

17.7

18.6

16.8

16.1

15.2

18.A

14.7

AUGUST

12.8

13.4

13.5

11.4

12.9

13.7

12.4

11.9

SEPTEMBER

7.6

7.7

6.7

7.8

7.7

8.4

6.7

7.3

OCTOBER

6.4

6.2

7.3

5.7

6.4

6.5

6.7

6.0

NOVEMBER

5.0

5.2

5.5

5.9

4.7

3.7

5.6

5.8

DECEMBER

3.8

2.5

2.7

3.3

4.2

3.9

3.7

6.1

3.2

2.6

2.1

3.3

3.4

3.0

3.4

4.6

FEBRUARY

2.0

2.0

0.9

2.0

2.2

2.3

1.8

2.4

MARCH

3.1

1.8

1.4

2.1

3.9

4.4

3.8

2.4

APRIL

2.2

1.7

1.7

1.6

2.5

1.7

3.2

3.6

MAY

0.9

L.L

1.0

1.1

0.8

0.5

1.2

1.1

JUNE
OR LATER

2.1

1.9

1.5

3.3

2.0

0.9

3.8

2.1

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1972 J A N U A R Y

TOTAL *

(MEMORANDUM:

TAX

AND DIVIDEND MATURITIES!

JUNE 10

1.8

1.5

1.5

1.0

2.1

3.0

1.1

1.1

J U N E 15

4.3

2.2

2.1

2.7

5.3

7.1

3.9

3.1

1/ INCLUDES C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S .
2/ TOTAL D E P O S I T S AS R E P O R T E D IN THE CALL R E P O R T OF CONDITION ON DECEMBER 3 1 , 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 D E P O S I T 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 W I T H I N 1 OR 2 BASIS POINTS 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 .
*
TOTALS MAY NOT ADD DUE TO R O U N D I N G .




TABLE

30

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 O F 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 BANKS 2/
AS OF 2 6 MAY 1971
CUMULATIVE PERCENTAGE

1/

$1 B I L L I O N AND OVER

CD'S

MATURING

IN

TOTAL

*200
MILLION
A N D UNDER

$200 M I L L I O N
TO
$500 M I L L I O N

$500 M I L L I O N
TO
$1 B I L L I O N

PRIME 3/
TOTAL
NEW YORK
CITY

OUTSIDE
NEW Y O R K
CITY

NON-PRIME

3.5

3.9

2.6

2.2

2.3

2.3

1 .9

JUNE

34.2

36.1

37.1

35.7

33. 1

35.8

29.2

32. 1

JULY

50.9

53.8

55.7

52.5

49.2

51.0

47.6

46. 8

AUGUST

63. 7

67.2

69.2

63.9

62.1

64.7

60.0

58.7

SEPTEMBER

71.3

74.9

75.9

71.7

69.8

73. 1

66. 7

66.0

OCTOBER

77.7

83.2

77.4

76.2

79.6

73.4

72.0

NOVEMBER

82.7

86.3

88.7

83.3

80.9

83.3

79.0

77.8

DECEMBER

86.5

88.8

91.4

86.6

85. 1

87.2

82.7

83.9

93.5

89.9

88.5

90.2

86.1

88. 5

91.4

FEBRUARY

91.7

93.4

94.4

91.9

90.7

92.5

87.9

90.9

MARCH

94.8

95.2

95.8

94.0

94.6

96.9

91.7

93.3

APRIL

97.0

96.9

97.5

95.6

97.1

98.6

94.9

96.9

MAY

97.9

98.0

98.5

96.7

97.9

99.1

96. 1

98.0

100.0

100.0

100.0

100.0

10C.0

100.0

100.c

100. C

1972 J A N U A R Y

JUNE
OR LATER

00

-4

27-31

00

2.6

1971 MAY

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 C , 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 E 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 3 1 , 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 AND
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 B A S I S P O I N T S OF E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T .




WHICH

ARE

S A L E S /!/ OF N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T S I N C E P R E V I O U S M O N T H 2/
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 3/
AS OF 26 MAY 1971
PERCENTAGE DISTRIBUTION

T A B L E 3E

$1

1 9 7 1 MAY

IN

TOTAL

$200
MILLION
AND UNDER

$200 M I L L I O N
TO
$500 M I L L I O N

$500 M I L L I O N
TO
$1 B I L L I O N

A N D OVER

PRIME 4/
NON-PRIME

NEW Y O R K
CITY

TOTAL

OUTSIDE
NEW YORK
CITY

31.9

48. 3

CO

CD* S M A T U R I N G

BILLION

10.3

27-31

JUNE

40.3

37.9

36.9

41.3

40.9

43.0

JULY

16.5

17.1

13.7

14.9

17.3

19.0

AUGUST

23.0

20.8

26.1

20.9

23.1

22.6

26.6

19.2

SEPTEMBER

3.8

3.4

2.4

3.6

4.1

4.9

3.2

3.1

OCTOBER

2.4

1.7

3.5

2.8

2.2

2.2

2.3

1.9

NOVEMBER

6.6

8.5

10.1

7.1

5.6

3.5

7.9

8.0

DECEMBER

1.1

1.8

0.7

1.0

1.1

1.3

0.5

1.5

1.0

1.2

0.5

0.9

1.0

0.4

1.1

2.7

FEBRUARY

0.5

0.8

0.2

0.5

0.5

"0.2

1.0

0.7

MARCH

0.3

0.5

0.8

0.3

0.2

0.1

0.5

0.0

APRIL

0.7

1.0

0.7

1.4

0.5

0.3

0.9

0.3

MAY
OR LATER

4.0

5.3

4.3

5.2

3.5

2.4

5.4

3.9

100.0

100.0

100.0

100.0

100.0

100.0

100. c

100.0

1972 J A N U A R Y

TOTAL *

-- ( M E M O R A N D U M :

TAX

AND

DIVIDEND

MATURITIES)

10

2.6

1.8

0.9

1.1

3.4

5.3

1.0

1.5

J U N E 15

2.6

1.9

1.5

0.6

3.3

4. 3

2.1

2.3

JUNE

(MEMORANDUM:
255

2/

INCLUD ES^C ERT I M C AT ES^ IN* D E N O M I N A T I O N S OF

85

* 1 0 0 , 0 0 0 OR M O R E

NUMBER OF B A N K S )
83

50

I S S U E C BY W E E K L Y R E P O R T I N G

37

BANKS.

4/ P R I M E B A N K S ' A R E ^ T H O S E ^ H O SE ^ N E G O T I A B L E CERTI^F I C A T E S ^ O F ^ D E P O S I T ^ R E ^ 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 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 E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T .
*
Digitized for T O T A L S MAY NOT ADD DUE TO R O U N D I N G .
FRASER



18

12

WHICH

ARE

TABLE
AVERAGE

4A

MATURITY
OF

OUTSTANDING

NEGOTIABLE TIME
AT

WEEKLY

CERTIFICATES

REPORTING

AT V A R I O U S

SURVEY

OF

DEPOSIT

1/

BANKS
DATES

(IN M O N T H S )

DATE
BANK CLASSIFICATION
26

MAY

1971

28 A P R
(BY

ALL

REPORTING

OF

SURVEY
31

1971

MAR

1971

LOCATION)

BANKS
3.3

3.4

3.4

3.2

3.4

3.7

CHICAGO

3.6

4.0

4.1

OTHER

3.3

3.3

3.1

ISSUING

NEW

CD'S

YORK CITY

(BY

S I Z E OF

B A N K ) 2/

3.0

3.0

2.9

$200-$500 MILLION

2.8

2.9

2.9

S500-Slt00C

3.3

3.3

3.2

3.4

3.6

3.6

3.1

3.3

3.7

3.7

3.9

3.6

3.6

3.7

3.4

UNDER

OVER

$200

$1

MILLION

MILLION

BILLION

PRIME

IN

NEW

PRIME OUTSIDE

YORK
NEW

CITY

3/

YORK C I T Y

3/

NON-PRIME

1/

INCLUDES

2/

TOTAL

CERTIFICATES

DEPOSITS




AS

IN D E N O M I N A T I O N S OF

REPORTED

IN T H E

CALL

$100*000

REPORT

OF

OR

MORE

CONDITION

ISSUED

BY W E E K L Y

OK D E C E M B E R

31t

REPORTING
1965.

BANKS.

TABLE 46
AVERAGE MATURITY
OF
NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT

1/

SOLO BY WEEKLY R E P O R T I N G BANKS
DURING THE M O N T H OF VARIOUS S U R V E Y S
CIN MONTHS!
DATE OF SURVEY
BANK C L A S S I F I C A T I O N

26 MAY

1971

28 APR 1971

31 MAR

1971

( BY L O C A T I O N I
ALL REPORTING BANKS
2.5

2.9

3.8

2.2

2.3

5.0

CHICAGO

2.4

3.4

5.3

OTHER

2.8

3.2

3.0

ISSUING C D ' S

NEW

YORK CITY

(BY SIZE OF BANK) IT

2.8

2.8

2.7

$200-1500 MILLION

2.8

3.0

2. 5

$500-*SI *000 MILLION

2.7

3.0

2.9

OVER

2.4

2.8

4.4

2.1

2.1

5.0

PRIME O U T S I D E NEW YORK CITY 3/

2.9

4.2

4.3

NON-PRIME

2.5

3.3

3.0

UNDER

*200 MILLION

$1 BILLION

PRIME

IN NEW YORK C I T Y 3/

1/

INCLUDES C E R T I F I C A T E S

IN D E N O M I N A T I O N S OF

$100,000 OR 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 C A L L REPORT CF C O N D I T I O N ON DECEMBER 3 1 , 1965.

3 /

PRIME BANKS 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 THF

HIGHEST

QUAI ITY ANP

 W H I C H ARE R E P O R T E D BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS PCINTS OF EACH OTHER WITHIN THE S E C O N D A R Y MARKFT,


T A B L E 5A
RATIO 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/

TO T O T A L DEPOSITS
AT VARIOUS SURVEY DATES
(PER CENTI

DATE OF SURVEY
TOTAL D E P O S I T S 2/
( IN M I L L I O N S OF D O L L A R S )

26 MAY 1971

1971

31 MAR

1971

!

1

ALL

28 APR

B A N K S ISSUING
CD'S

10.9

10.8
10.0

.
UNDER 200

9.4

9.5

200 - 500

10.4

10.4

10.6

9.7

9.6

9. 9

12.4

11.5

11.2

16.3

14.8

13.2

9.1

8.5

8.8

11.7

11.2

11.8

500 - 1000
OVER 1000
PRIME

IN NEW YORK 3/

PRIME O U T S I D E NEW Y O R K 3/
NONPRIME
1/ INCLUDES C E R T I F I C A T E S IN D E N O M I N A T I O N S OF
2/ TOTAL

D E P O S I T S AS R E P O R T E D

$100,000 OR MORE

ISSUED BY WEEKLY R E P O R T I N G B A N K S .

IN THE C A L L REPORT OF C O N D I T I O N ON DECEMBER 31, 1 9 6 5 .

3/ PRIME BANKS ARE T H O S E WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING O F THE H I G H E S T QUALITY AND
WHICH 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 W I T H I N T H E 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 IN THIS T A B L E ARE TOTAL DEMAND AND T I M E D E P O S I T S , I N C L U D I N G
INTERBANK AND U . S . G O V E R N M E N T D E P O S I T S .




ft
TABLE
R A T I O OF

OUTSTANDING

5B

NEGOTIABLE TIME

CERTIFICATES

TO T O T A L

DEPOSITS

( IN M I L L I O N S

•LL

B.NKS

CF

2/

M

DOLLARS)

^

LESS

.SSU.NG

26

OF

BANKS)

10

„6

15

15S

10*

„

1I

MAY 1971

OF

(NUMBER

TOTAL

DEPOSIT

DEPOSITS

AS

OF

»

20*

« «

25%^

^

MORE

38

6 1

.3

8

IT..

UNDER

200

22

31

19

7

2

4

9.4

2C0 -

500

23

18

22

14

2

4

10.4

500 -

1000

10

14

15

8

3

0

9.7

4

13

5

9

6

0

12.4

0

1

1

3

2

0

16.3

2

5

1

3

1

0

9. 1

2

7

3

3

3

c

11.7

OVER

1000

PRIME

IN NEW

PRIME OUTSIDE

YORK
NEW

3/
YORK

3/

NONPRIME
1/

INCLUDES CERTIFICATES

2/ T O T A L
po.MF
WHICH
NOTE-




DEPOSITS

AS

IN D E N O M I N A T I O N S OF

REPORTED

IN THE

CALL

$100,000

REPORT

OR

MORE

OF C O N D I T I O N

ISSUED
ON

BY W E E K L Y

DECEMBER

31.

REPORTING

BANKS.

1965.

B A N K S A R E T H O S E 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 THF H I G H E S T Q U A L I T Y A N D
A R E 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 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 T H E 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

TABLE

PER

CENT

CHANGE

IN O U T S T A N D I N G
28

APR

NEGOTIABLE

1971

TO

(NUMBER

DECLINES
TOTAL
UN

ALL

DEPOSITS

MILLIONS

BANKS
CD'S

OF

2/

REDUCED
C D ' S TO
ZERO

DOLLARS)

1 0 % ORMORE

5

5C

OF

MAY

CERTIFICATE

OF

OF

BANKS)

5 % OR
LESS

10%

/i

1971

OF

TO

DEPOSIT

INCREASES

26

TIME

NC
CHANGE

5% OR
LESS

5 TO
10%

1 0 % OR
MORE

ISSUED CD'S BUT
HAD NONE OUT STANDING ON B A S E D A T E

ISSUING
27

32

47

16

48

34

51

UNDER

200

0

13

9

13

3

13

11

18

0

200

500

1

6

12

13

10

16

9

17

0

1000

0

6

6

10

3

12

6

7

0

C

2

5

6

0

7

8

9

0

0

0

0

2

0

2

2

1

0

0

1

2

1

0

1

2

5

0

0

1

3

3

0

4

4

3

0

-

500 OVER

1000

PRIME

IN N E W

PRIME

YORK

OUTSIDE

NEW

3/
YORK

3/

NONPRIME

1/

INCLUDES

CERTIFICATES

2/ T O T A L

DEPOSITS

3/

BANKS ARE THOSE
A R E R E P O R T E D BY

PRIME
WHICH

NOTE-

THE
HAD




AS

IN

DENOMINATIONS

REPORTED

IN

THE

CALL

WHOSE NEGOTIABLE
D E A L E R S TO T R A D E

N U M B E R OF B A N K S IN T H I S
O U T S T A N D I N G C D ' S O N THE

OF

$100,000

REPORT

OF

OR

MORE

CONDITION

ISSUED
ON

BY

WEEKLY

DECEMBER

31,

REPORTING

BANKS.

1965.

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 OF T H E 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 T H E S E C O N D A R Y M A R K E T .

T A B L E D I F F E R S F R O M T H O S E IN M O S T O T H E R
L A S 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

T A B L E S TO T H E E X T E N T THAT
TO Z E R O ON T H I S S U R V E Y .

BANKS

THAT

t

*
TABLE

PER

CENT CHANGE

IN O U T S T A N D I N G
2 4 FEB

NEGOTIABLE

1971

U N

ALL

DEPOSITS

MILLIONS

BANKS
CD'S

OF

REDUCED
C D ' S 2 5%
TO
OR
ZERO
MORE

/2

DOLLARS)

DECLINES

20

DEPOSIT

/I

1971

BANKS)

5
TO
10%

5%
OR
LESS

NO

5%

CHANGE

OR
LESS

23

5
TO

10
TO
15%

10%

OF

20

15
TO

25%

TO
25%

20%

OR
MORE

ISSUED
CD'S BUT HAD
NONE
OUTSTANDING
ON BASE DATE

ISSUING
1

29

18

26

30

35

6

12

12

9

UNDER

200

0

14

200

-

500

1

6

500

-

1000

0

OVER

OF

INCREASE

TO
15%

20%

25%

CF

CERTIFICATE

OF

10

15
TO

TO

TIME

TO 2 6 M A Y

(NUMBER

TOTAL

50

1000

6

4

7

4

5
10

8

9

2

5

9

4

12

22

0

5

12

3

6

14

4

1

5

1

0

3

0

4

2

3

3

4

0

3

13

3
6

11

3

.
3

5

1

4

1

22

1

7

1

8

C

0

PRIME

IN NEW

PRIME

OUTSIDE

YORK
NEW

YORK

3

2

4

3

6

1

0

0

0

3/

5
0

0

0

0

1

0

0

0

2

1

C

1

2

0

0

0

2

1

2

1

0

0

0

0

/

NONPRIME

0
0

1/

INCLUDES

2/

TOTAL

DEPOSITS

3/

PRIME
WHICH

BANKS ARE THOSE
A R E R E P O R T E D BY

NOTE-

CERTIFICATES
AS

0
5

1
1

3

IN D E N O M I N A T I O N S

REPORTED

IN

THE

CALL

1
2

OF

2

1

3

0

$100,000

REPORT

OF

OR

MORE

CONDITION

ISSUED
ON

0

BY W E E K L Y

DECEMBER

31*

0

REPORTING

1

1

2

0

BANKS.

1965.

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 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
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 O F E A C H OTHE,R W I T H I N THE S E C O N D A R Y M A R K E T .

THE N U M B E R OF B A N K S IN T H I S
H A D O U T S T A N D I N G C D ' S ON THE
O U T S T A N D I N G S TO Z E R O .




1

T A B L E D I F F E R S F R O M T H O S E IN M O S T
S U R V E Y THREE M O N T H S PRICR TO T H E

O T H E R T A B L E S T O THE E X T E N T T H A T
C U R R E N T S U R V E Y , R E D U C E D THEIR

BANKS

THAT

TABLE
CHANGE

IN O U T S T A N D I N G N E G O T I A B L E
OVER

THE

MONTH
AT

AS

THE

28

A PER

(IN

ALL

DEPOSITS

APR

1971

MILLIONS

BANKS
CD'S

OF

3%
AND
OVER

DOLLARS)

TO

ISSUING

OF

OF
THE

26 MAY

OF

TOTAL

DEPOSIT

1/

DEPOSITS

PERIOD
1971

BANKS I

INCREASES
1%
AND
LESS

1
TO
2%

2
TO
3%

CENT

C E R T I F I C A T E S OF

OF

DECLINES

2/

TIME

BEGINNING

(NUMBER

TOTAL

5E

2

i
TO
2%

1%
AND
LESS

NO
CHANGE

OF
3%
AND
OVER

TO
3%

3

6

13

84

16

91

32

8

2

UNDER

200

2

3

4

31

3

30

10

2

0

200 -

500

1

3

6

21

10

29

10

3

c

500 -

1000

0

0

3

19

3

16

7

2

0

0

0

0

13

0

16

5

1

2

0

0

0

2

0

3

1

0

1

0

0

0

4

0

5

2

0

1

0

0

0

7

0

8

2

1

0

REPORTING

BANKS.

OVER

100C

PRIME

IN N E W

PRIME

YORK

OUTSIDE

NEW

3/
YORK

3/

NONPRIME

1/

INCLUDES

2/

TOTAL

DEPOSITS

3/

PRIME
WHICH

BANKS ARE THOSE
A R E R E P O R T E D BY

NOTE-

CERTIFICATES
AS

•

IN D E N O M I N A T I O N S O F

REPORTED

IN T H E

CALL

$100,000

REPORT

MORE

CONDITION

ISSUED
ON

BY W E E K L Y

DECEMBER

31,

1965.

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 A R E 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
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 O F 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 .

D E P O S I T S IN T H E D E N O M I N A T O R OF THE R A T I O
INTERBANK AND U.S. GOVERNMENT D E P O S I T S .




OF

OR

IN T H I S

TABLE

ARE

TOTAL

DEMAND AND

TIME

DEPOSITS,

INCLUDING

4
TABLE
CHANGE
OVER

IN O U T S T A N D I N G

NEGOTIABLE

THE

MONTHS

LAST

THREE
AT

THE

24

AS

FEB

1971

(IN

ALL

DEPOSITS

MILLIONS

BANKS
CD'S

OF

DECLINES

2/
5%
AND
OVER

DOLLARS)

3
TO
4%

4
TO
5%

ISSUING

TIME

CERTIFICATES

A PER

BEGINNING

OF

CENT

THE

TO 26 MAY

(NUMBER

TOTAL

5F

OF

OF

OF

TOTAL

DEPOSIT

1/

DEPOSITS

PERIOD
1971

BANKS 1

INCREASES

OF

5%
AND
OVER

4
TO
5%

3
TO
4?

2
TO
3%

1
TO
2%

1%
AND
UNDER

NO
CHANGE

1%
AND
LESS

1
TO
2%

2
TO
3%

OF

6

7

7

26

43

74

6

43

10

14

9

6

3

UNDER

200

3

2

4

10

14

26

0

15

1

4

2

2

1

200 -

50C

3

2

0

4

12

27

4

19

3

4

3

2

0

500 -

1000

0

0

2

8

11

14

2

6

3

2

1

1

C

0

3

1

4

6

7

0

3

3

4

3

1

2

0

0

0

0

0

1

0

1

1

1

1

0

2

0

0

0

0

3

3

0

2

1

2

1

0

0

0

3

1

4

3

3

0

0

1

1

1

1

0

OVER

1000

PRIME

IN N E W

PRIME

OUTSIDE

YORK
NEW

3/
YORK

3/

N C N P R I ME
1/

INCLUDES

2/

TOTAL

3/ P R I M E
WHICH
NOTE-

CERTIFICATES

DEPOSITS

AS

IN D E N O M I N A T I O N S

REPORTED

B A N K S ARE THOSE
A R E R E P O R T E D BY

IN THE

CALL

OF

*100,000

REPORT

MORE

CONDITION

ISSUED
ON

BY

WEEKLY

DECEMBER

31,

REPORTING

BANKS.

1965.

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 A R E 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
D E A L E R S TO T R A D E W I T H I N I OR 2 B A S I S P O I N T S O F 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 T H E D E N O M I N A T O R OF THE R A T I O
INTERBANK AND U.S. GOVERNMENT DEPOSITS.




OF

OR

IN T H I S

TABLE

ARE

TOTAL

DEMAND

AND

TIME

DEPOSITS,

INCLUDING

TABLE
MATURITY

DISTRIBUTION

OF

OUTSTANDING NEGOTIABLE TIME CERTIFICATES
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

(AMOUNTS

CD'S

MATURING

ALL
DIS-

IN

6A

OF

IN

26

MAY

MILLIONS

DEPOSIT

1971
OF

DOLLARS)

PHILADELPHIA

NEW

OF

CLEVELAND

RICHMOND

ATLANTA

MINNE —
APOLIS

ST.
LOUIS

CHICAGO

KANSAS
CITY

DALLAS

FRANCISCO

57.3

252.0

19.6

40. 7

43.1

37.8

74.0

3.8

8896.9

531.6

3891.5

263.3

364.0

228.7

337.9

1009.5

172.5

72.8

218.5

577.3

1229.3

4686.6

259.2

1754.0

112.6

284.2

136.7

162.0

612.5

83.0

48.6

115.7

334. 3

783.8

JUL

3605.7

219.9

1528.9

141.3

131.9

79.6

144. 1

422.2

71.3

47.1

95.2

212.5

511.7

AUG

84. 5

943.5

60.0

89.2

90.1

72. 1

208.0

30.2

16.9

62.2

352.6

2128.8

119. 5

SEP

1808.6

143.8

732.2

39.2

109.4

80.1

45.3

267.1

23.9

12.6

45.3

102. 3

207.4

OCT

118.5

430.1

51.3

67.4

28.9

79.5

202.3

30.0

15.2

101.5

254.1

1413.7

34.9

NOV

68.2

462.8

69.4

40.7

11.6

23. 1

122.9

34.0

23.4

66. 1

124.9

1064.7

17. 6

DEC

889.5

21.8

322.1

61.7

55.5

14.1

26.4

176.3

22.9

11.3

12.2

82. 1

83.1

JAN

9.3

259.5

18.6

21.7

9.2

17.8

73.4

5.1

13.7

44. 7

74.0

556.0

9.0

FEB

13. 1

461.7

26.2

55.8

5.5

19.1

120.8

18.3

6.8

51.7

95.3

883.5

9.2

MAR

618.8

9.0

230.9

19.1

82.9

11.2

17.5

80.2

2.2

4.6

15.3

33.4

112.5

APR

255.3

10.6

54.0

4.2

38.2

6.0

12.8

32.5

4.3

3 . 1

8.1

22. 0

59.5

MAY

604.0

60.5

120.9

23.2

170.2

23.8

23.3

56.2

5.0

3.0

9.1

12.7

96.1

909.7

1972

726.4

J UN

1971

1551.8

768.6

1018.7

3457.9

511.5

288.4

673. 8

1826.1

4080.6

3.5

2.9

3. 1

3.2

20

23

31

27-MAY

MAY

JUN

OR

31

LATER

AVERAGE MATURITY
IN M O N T H S 2/

3.2

3,0

3.1

3.6

4.6

2.9

3.0

NUMBER
BANKS

255

18

44

10

18

16

24

OF

REPORTING

1/

INCLUDES ONLY

CERTIFICATES

2/

SEE

APPENDIX

*

TECHNICAL

DETAILS

MAY NOT




ADD

TO

ISSUED

IN

DENOMINATIONS

B.
TOTALS DUE

TO R O U N D I N G .

OF

$100,000

OR

MORE

BY W E E K L Y

3.4 ^

3.1^

35

REPORTING

11

BANKS.

I
TABLE

1/

SALES

OF

NEGOTIABLE

TIME
BY

68

2/

C E R T I F I C A T E S OF D E P O S I T
WEEKLY REPORTING B A N K S
FEDERAL RESERVE DISTRICT
AS OF

(AMOUNTS

26

MAY

SINCE PREVIOUS

MONTH

1971

IN M I L L I O N S O F

DOLLARS)

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

360.4

51.2

19.2

64.7

304.8

353.5

19.9

138.8

18.6

21.4

21.0

66.7

263.2

31.4

72.4

247.3

34.0

24.4

49. 5

86. 8

266.9

12.2

6. 1

2.2

33.3

11.5-

4.0

7. 6

4.4

27.3

15.4

8.1

9.7

5.1

16.7

3.0

0.4

2.6

3.0

32.9

128.6

20.8

32.6

16.9

44.6

66.8

10.5

8.7

14.7

32.0

125.8

4.6

52.2

3.8

4.9

1.3

1.7

8.6

3.2

1.1

4.3

2. 1

1.9

79.0

1.3

25.0

3.2

20.6

0.6

2.2

5.2

4.0

0.1

0. 1

5.1

11 .*>

FEB

41.0

1.3

8. 1

4.1

2.9

0.4

1.0

8.9

0.0

1 .0

0.7

3.2

9.4

MAR

27.1

1.1

12.4

2.6

3.2

0.1

0.2

4.7

0.1

0 .0

0.0

0.3

2.4

APR

53.4

1.9

10.2

1.7

5.7

1.6

1.3

12.7

C.2

0.2

3.1

1.3

13.5

324. 7

21.3

78.9

12.2

82.1

4.9

12.3

35.3

2.8

2.1

10.9

22.5

39.4

8169.4

506.0

3511.3

310.5

402.8

143.8

275.4

938.7

139.1

82.6

179.2

532.2

1147.8

2.5

2. 5

2.1

2.7

4. 5

2.7

2.8

2.6

2.5

2.6

2.9

2.0

2.7

ALL
DISTRICTS

BOSTON

JUN

3289.2

199.0

JUL

1345.8

AUG

CD'S MATURING

IN

RICHATLANTA
MOND

1538.0

111.6

120.0

54.3

112.5

64. 7

627.9

34.9

52.2

16.5

1879. 1

142. 7

773.1

92.3

58.3

308.0

15.7

175.8

7.9

OCT

196.9

18.9

81.1

NOV

535.5

33.5

DEC
1972

CLEVELAND

SEP

1971

PHILADELPHIA

89.7

JAN

MAY
TOTAL

OR

LATER

*

AVERAGE MATURITY
IN M O N T H S 3/

1/

SEE

2/

INCLUDES

3Z

SEE

*

TECHNICAL
ONLY

TECHNICAL

DETAILS

MAY NOT




APPENDIX

ADO

TO

CHICAGO

A.

CERTIFICATES
APPENDIX

NEW
YORK

ISSUED

IN D E N O M I N A T I O N S OF

B.
TOTALS

DUE

TO R O U N D I N G .

$100,000

OR

MORE

BY W E E K L Y

REPORTING

BANKS.

TABLE
MATURITY

DISTRIBUTION

OF

OUTSTANDING NEGOTIABLE TIME
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

26

(PERCENTAGE

CD'S

MATURING

ALL
DIS-

IN

BOSTON

NEW
YORK

6C

MAY

CERTIFICATES

OF

DEPOSIT

1/

1971

DISTRIBUTION)

PHILADELPHIA

CLEVELAND

RICHMOND

ATLANTA

CHICAGO

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

3.6

2.2

2.2

2.6

5.6

3.7

2.1

1.7

3. 2

3.2

31.6

33.1

34.0

28.9

23.5

29.8

33.2

29.2

33.7

25.2

32.4

31.6

30.1

16.7

16.1

15.3

12.4

18.3

17.8

15.9

17.7

16.2

16.9

17.2

18.3

19.2

JUL
AUG

12.8

13.7

13.4

15.5

8.5

10.4

14,1

12.2

13.9

16.3

14.1

11.6

12.5

7.6

5.3

8.2

6.6

5.7

11.7

7.1

6.0

5.9

5.9

9.2

6.5

8.6

SEP

6*4

8.9

6.4

4.3

7.0

10.4

4.4

7.7

4.7

4.4

6.7

5.6

5.1

OCT

5.0

7.4

3.8

5.6

4.3

3.8

7.8

5.9

5.9

5.3

5.2

5.6

6.2

NOV
DEC

3.8

4.2

4.0

7.6

2.6

1.5

2.3

3.6

6.6

8.1

2.6

3. 6

3.1

3.2

1.4

2.8

6.8

3.6

1.8

2.6

5.1

4.5

3.9

1.8

4. 5

2.0

JAN
FEB

2.0

0.6

2.3

2.0

1.4

1.2

1.7

2.1

1.0

4. 8

1.3

2.4

1.8

MAR

3. 1

G.8

4.0

2.9

3.6

0.7

1.9

3.5

3.6

2.4

1.4

2.8

2.3

APR

2.2

0.6

2.0

2.1

5.3

1.5

1.7

2.3

0.4

1.6

2.3

1.8

2.8

0.9

0.7

0.5

0.5

2.5

0.8

1.3

0.9

0.8

1.1

1.2

1.2

1.5

MAY

2.1

3.8

1.1

2.6

11.0

3.1

2.3

1.6

1.0

1.0

1.4

0.7

2.4

100.0

1972

2.6

J UN

1971

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100. 0

100.0

100.0

OR

BY W E E K L Y

MAY

JUN

1/

27-MAY

OR

31

LATER

INCLUDES ONLY




CERTIFICATES

ISSUED

IN D E N O M I N A T I O N S O F

$100,000

MORE

REPORTING

'

BANKS.

TABLE
MATURITY

DISTRIBUTION

OF

60

OUTSTANDING NEGOTIABLE TIME
AT WEEKLY 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

26

(CUMULATIVE

MAY

CERTIFICATES OF

DEPOSIT

1/

1971

PERCENTAGE)

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

2.1

1.7

3.2

3.2

3*6

2.4

36.9

31.3

35.4

28.4

35.6

35.2

32.5

53.2

52.8

49.0

51.6

45.3

52.8

53.5

51.7

52.9

6 3.6

66.9

61.2

65. 5

61.6

66.9

65. 1

64.2

65.6

58.6

75.3

74.0

67.2

71.4

67.5

76. 1

71. 6

72.8

79.5

69.9

65.6

85.7

78.4

74.9

76. 1

71.9

82.8

77. 2

77.9

88. 1

83.3

75. 5

69.9

89.5

86.2

80.8

82.0

• 77.2

88.0

82.8

84. 1

86.5

92.3

87.3

83.1

72.5

91.0

88.5

84 .4

88. 6

85. 3

90.6

86.4

87.2

JAN

89.7

93. 7

90.1

89.9

76.1

92.8

91.1

89.5

93.1

99.2

92.4

90.9

89.2

FEB

91.7

94. 3

92.4

91.9

77.5

94.0

92.8

91.6

94. 1

94.0

93.7

93. 3

91 .0

MAR

94.8

95. 1

96.4

94.8

81.1

94.7

94. 7

95.1

97. 7

96 .4

95.1

96. 1

93.3

APR

97.0

95.7

98.4

96.9

86.4

96.2

96.4

97.4

98. 1

98. C

97.4

97.9

96 . 1

MAY

97.9

96.4

98.9

97.4

88.9

97.0

97.7

98.3

98.9

99. 1

98.6

99. 1

97.6

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100 .0

10C.0

100. 0

100.0

OR

BY

ALL
DI S TRICTS

BOSTON

2.6

3.6

JUN

34.2

JUL

CD'S

MATURING

IN

RICHMOND

ATLANTA

2.2

2.2

2.6

5.6

3.7

36.7

36.2

31.1

26.1

35.4

50.9

52.8

51.5

43.5

44.4

63. 7

66.5

64.9

59.0

SEP

71.3

71.8

73.1

OCT

77.7

80.7

NOV

82.7

DEC
1972

CLEVELAND

AUG

1971

PHILADELPHIA

MAY

JUN

1/

27-MAY

OR

INCLUDES

31

LATER

ONLY




CERTIFICATES

ISSUED

NEW
YORK
.

IN D E N O M I N A T I O N S

OF

$100,000

MORE

CHICAGO

WEEKLY

REPORTING

BANKS.

TABLE

1/
SALES

OF

NEGOTIABLE

6E

2/

TIME

C E R T I F I C A T E S OF D E P O S I T
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
AS

OF

26

(PERCENTAGE

MAY

SINCE PREVIOUS MONTH

1971

DISTRIBUTION)

ST.
LOUIS

MINN EAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

38.4

36.8

23.2

36.1

57. 3

30.8

7.2

14.8

13.4

25.9

11.7

12.5

22.9

21.8

26.3

26.3

24.4

29.5

27.6

16. 3

23.3

3.0

4.2

0.8

3.5

8.3

4.8

4.2

0.8

2.4

5.0

2.0

6.7

1.9

1.8

2.2

0.5

1.5

0. 6

2.9

3.7

6.7

8.1

11.8

16.2

7.1

7.5

10.5

8.2

6.0

11.0

0. 9

1.5

1.2

1.2

0.9

0.6

0.9

2.3

1.3

2.4

0.4

0.2

1 .0

0.3

0.7

1.0

5.1

0.4

0.8

0.6

2.9

0.1

0.1

1. 0

1.0

FEB

0.5

0.3

0.2

1.3

0.7

0.3

0.4

0.9

0.0

1.2

0.4

0. 6

0. 8

MAR

0.3

0.2

0.4

0.8

0.8

0.1

0.1

0.5

C. 1

0.0

0.0

Gil

0.2

APR

0.7

0.4

0.3

0.5

1.4

1.1

0.5

1.4

0.1

0.2

1.7

0.2

1.2

4.0

4.2

2.2

3.9

20.4

3.4

4.5

3.8

2.0

2.5

6.1

4. 2

3.4

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

OR

BY

CD* S M A T U R I N G

IN

ALL
DI S TRICTS

BOSTON

JUN

40.3

39.3

JUL

16.5

AUG

CLEVELAND

RICHMOND

ATLANTA

43.8

35.9

29.8

37.8

12.8

17.9

11.2

13.0

11.5

23.0

28.2

22.0

29.7

14.5

3.8

3.1

5.0

2.5

2.4

3.7

2.3

NOV

6.6

6.6

DEC

1.1

JAN

MAY
TOTAL

OR

SEE

2/

INCLUDES

*

LATER

*

1/

NOTE -

CHICAGO

40.8

OCT

1972

PHILADELPHIA

SEP

1971

TECHNICAL
ONLY

SALES

DETAILS

APPENDIX

MAY

IN

NOT




ADD

TABLE
TO

.

A.

CERTIFICATES
THIS

NEW
YORK

ISSUED

ARE

TOTALS

NOT
DUE

IN

DENOMINATIONS

ADJUSTED

FOR

CD'S

OF
THAT

UOCi.OOO
HAVE

MORE

WEEKLY

REPORTING

BANKS.

MATURED.

TO R O U N D I N G .

*

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) ere
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-

parable1 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 d a t e — a r e assumed to mature in the middle of the
period between the .survey date and the 6nd of the calendar month in which
the survey is taken„

The weights are the quantity of CD's maturing in each

month or fraction thereof as a proportion of total CD^s outstanding and the
starting date for calculations is the survey date.
A downward bias in the calculated average maturity develops from
the fact that all CD's maturing in more than twelve months after the survey
date are lumped together.

All of these CD's are assumed to mature in the

middle of the twelfth full month after the survey date, regardless of the
actual, but unknown, maturity of the CD's maturing in more than twelve full
months.
SALES
Average maturity of negotiable time certificates of deposit sold
between survey dates are calculated in exactly the same way.

That is, they

are weighted averages calculated from the survey date with the assumption made
that all CD's mature in the middle of the month.

Any CD's sold between

survey dates and maturing in the period between the current survey date and
the end of the calendar month in which the current survey was taken (a
maximum of 6 days) are ignored.




Technical Note B (continued)
This procedure assumes all CD's sold between survey dates were
issued on the most recent survey date.

While it appears more logical to

assume that all CD's were sold at the mid-point between the two surveys,
such an assumption would tend to reduce 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 bv 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.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102