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L.4.1 CONFIDENTIAL (FR) SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF February 24, 1971 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 24 FEB 1971 CD'S MATURING 1971 FEBRUARY ' AMOUNT ( M I L L I O N S OF DOLLARS 1 IN 25 - 28 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE P R E V I O U S MONTH 2/ ( M I L L I O N S OF D O L L A R S ) 816.0 3.0 3.0 .0 MARCH 7,997.7 29.1 32.1 2,430.7 APRIL 5,893.0 21.4 53.5 1,023.7 MAY 3,117.7 11.3 64.8 1,375.6 JUNE 2,549.8 9.3 74.1 363.3 JULY 1,666.1 6.1 80.2 285.9 AUGUST 1,168.6 4.3 84.5 652.3 SEPTEMBER 855.0 3.1 87.6 128.6 OCTOBER 845.4 3.1 90.7 78.3 NOVEMBER 721.0 2.6 93.3 148.2 DECEMBER 564.0 2.1 95.4 96.3 533.7 1 .9 97.3 187.6 FEBRUARY 261.2 1.0 98.3 324.1 OVER 502.3 1.8 100.0 XXX 27,491.4 100 .0 XXX 7,094.5 1972 J A N U A R Y 12 M O N T H S TOTAL (MEMORANDUM: MARCH MARCH APRIL 406.1 954.3 1,170.2 10 15 15 1/ INCLUDES ONLY CERTIFICATES 2/ SEE APPENDIX TECHNICAL IN D E N O M I N A T I O N S OF A. http://fraser.stlouisfed.org/ 3/ S A L E S OF C D ' S M A T U R I N G A F T E R Federal Reserve Bank of St. Louis 11 M O N T H S . TAX AND DIVIDEND MATURITIES) 1.5 3 .5 4.3 $ 1 0 0 , 0 0 0 OR M O R E XXX XXX XXX I S S U E D RY W E E K L Y R E P O R T I N G 134.7 164.7 88.7 BANKS. 3/ TABLE 2A 1/ M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G 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 N E W Y O R K C I T Y , C H I C A G O , A N D ALL OTHER W E E K L Y R E P O R T I N G B A N K S AS OF 2 4 FEB AT 1971 (IN M I L L I O N S OF D O L L A R S I NEW AMOUNT CD'S MATURING IN 1971 FEB 2 5 - FEB 1972 YORK ALL CHICAGO CITY AMOUNT SALES SINCE P R E V I O U S M O N T H 2/ SALES PREVIOUS OTHER SINCE M O N T H 2/ AMOUNT WEEKLY REPORTING SALES PREVIOUS SINCE MONTH 2/ 265.4 .0 33.9 .0 516.7 .0 MARCH 2,468.4 544.7 406.3 93.7 5, 123.0 1,791.8 APRIL 2,015.3 275.5 342.7 75.7 3 , 5 3 5.0 67 MAY 952.6 460.2 185 .4 75.4 1,979 .7 8 41.0 JUNE 799.2 129.5 208.4 14.8 1,542.2 216 .0 JULY 347.6 129.7 130.1 l7 1,188.4 137.6 AUGUST 378.7 288.2 72.2 45.6 717.7 318 .6 SEPTEMBER 317.1 67.1 57.7 11.4 480.2 50.1 OCTOBER 257.1 26.9 152.2 1.0 436.1 50.0 NOVEMBER 201.3 87.4 93.8 2.2 425.9 58. DECEMBER 145.8 67.4 57.4 1.8 360.8 27.2 JANUARY 176.7 120.5 59.4 23.7 297.6 45*5 FEBRUARY 92.9 157.5 9.5 27.5 OVER 95.8 XXX 29.1 XXX 377.4 8,513.9 2,354.6 1 , 8 3 8 .1 390.0 17,139.4 28 12 M O N T H S TOTAL * NUMBER OF REPORTING BANKS /3 10 15 15 167.8 449.2 683.2 ' /3 29.7 40.5 23.5 TAX AND 158.8 5.3 3 1 3 6 . 1 Z3 XXX 4 , 3 47. 5 232 11 12 (MEMORANDUM: MARCH MARCH APRIL -2* BANKS DIVIDEND MATURITIES) 11.0 41.6 59.2 3.9 7.8 2.4 227.3 463.4 426.8 101.2 116.3 61.8 > 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 NEW Y O R K C I T Y , C H I C A G O , NEGOTIABLE AND ALL AS OF 2 4 F E B 1971 (PERCENTAGE NEW CD'S MATURING YORK 27 JAN TIME C E R T I F I C A T E S OF OTHER W E E K L Y AND 27 JAN REPORTING 1/ D E P O S I T AT BANKS 1971 DISTRIBUTION) ALL CHICAGO CITY . IN 2 4 FEB 24 F£B 24 FEB 27 J A N OTHER . 27 JAN 3.1 4.6 1.8 2.4 3.0 3.5 29.0 23.7 22.1 17.9 29.9 25.1 02 M O N T H S 23.7 23.4 18.6 17.6 20.6 19.4 MONTHS 11.2 21.2 10.1 15.1 11.5 16.6 04 MONTHS 9.4 6.0 11.3 6.2 9.0 6.6 05 M O N T H S 4.1 8.1 7.1 10.9 6.9 7.7 06 MONTHS 4.4 2.6 3.9 6.4 4.2 6.1 07 MONTHS 3.7 1.1 3.1 1.5 2.8 2.3 08 M O N T H S 3.0 3.0 8.3 2.6 2.5 2.5 09 M O N T H S 2.4 2.8 5.1 8.5 2.5 2.2 10 M O N T H S 1.7 1.4 3.1 5.2 2.1 2.1 11 M O N T H S 2.1 1.0 3.2 3.1 1.7 1.9 12 M O N T H S 1.1 .7 .5 2.0 .9 1.5 1.1 .4 1.6 .6 2.2 2.3 100.0 100.0 100.0 100.0 100.0 100.0 0-6 01 03 OVER DAYS 2/ MONTHS 3/ 12 M O N T H S TOTAL 1/ 2B * INCLUDES ONLY CERTIFICATES IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE I S S U E D BY W E E K L Y REPORTING BANKS. 2 / N U M B E R OF FOLLOWING D A Y S R E M A I N I N G IN S U R V E Y M O N T H . T H I S P E R I O D V A R I E S W I T H THE L A S T W E D N E S D A Y OF T H E M O N T H . 3/ MONTHS N U M B E R OF * TOTALS MAY NOT FOLLOWING ADD DUE THE SURVEY MONTH. TO R O U N D I N G . THE NUMBER OF DAYS MATURITY DISTRIBUTION NEW OF OUTSTANDING YORK C I T Y , CHICAGO, AS OF NEGOTIABLE AND 2 4 FEB MATURING IN NEW YORK 2 4 PER AND 27 JAN REPORTING D E P O S I T AT BANKS 1971 DISTRIBUTION! CITY 27 WEEKLY OF CHICAGO JAN 2 4 FEB ALL 27 JAN OTHER 24 FEB 27 JAN 4.6 1.8 2.4 3.0 3.5 32.1 28.3 23.9 20.3 32.9 28.6 02 M O N T H S 51.7 42.5 37.9 53.5 48.0 03 M O N T H S 67.0 72.9 52.6 53.0 65.0 64.6 04 MONTHS 76.4 78.9 63.9 59.2 74.0 71.2 05 M O N T H S 80.5 87.0 71.0 70.1 0* MONTHS 84.9 89.6 74.9 76.5 85.1 85.0 07 MONTHS 88.6 90.7 78.0 78.0 87.9 87.3 08 M O N T H S 91.6 93.7 86.3 80.6 9014 89.8 09 MONTHS 94.0 96.5 91.4 89.1 92.9 92.0 10 M O N T H S 95.7 97.9 94.5 94.3 95.0 94.1 11 M O N T H S 97.8 98.9 97.7 97.4 96.7 96.0 12 M O N T H S 98.9 99.6 98.2 99.4 97.6 97.5 100.0 100.0 100.0 100.0 100.0 100.0 OVER MONTHS 3/ 12 M O N T H S INCLUDES ONLY CERTIFICATES 8 ANK S• IN D E N O M I N A T I O N S OF 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 O F THE M O N T H . 3/ N U M B E R OF MONTHS FOLLOWING THE SURVEY MONTH. $ 1 0 0 , 0 0 0 OR MORE <7 3.1 01 1/ OTHER TIME C E R T I F I C A T E S O 00 0—6 DAYS 2/ ALL 1971 (CUMULATIVE CD'S 2C GO in IT TABLE 78.9 I S S U E D BY W E E K L Y R E P O R T I N G PERIOD VARIES WITH THE N U M B E R OF DAYS TABLE 3A » $1 B I L L I O N CD'S MATURING 1971 . FEB IN 25-28 TOTAL $200 MILLION AND UNDER 815,9 59.0 MARCH 7,997.6 570.1 APRIL 5,893.0 419.3 MAY 3,117.7 JUNE *200 M I L L I O N TO $500 MILLION 143.7 $500 MILLION TO $1 B I L L I O N A N D1 O V E R PRIME 3/ TOTAL OUTSIDE N E W YORK CITY NON-PRIME NEW YORK CITY 128.6 484.6 259.6 122.3 102.7 1,431.7 4,873.2 2,321.1 1,292.6 1,259.5 753.4 950.7 3,769.6 1,855.1 1,159.8 754.7 253.5 467.8 520.4 1,876.0 909.5 625.0 341.5 2,549.6 173.7 393.2 417.8 1,564.9 757.0 535.5 272.4 JULY 1,666.0 107.1 273.8 263.8 1,021.3 339.0 452.5 229.8 AUGUST 1, 1 6 8 . 4 80.2 185.7 173.1 729.4 341.9 209.9 177.6 SEPTEMBER 855.1 59.2 112.3 122.8 560.8 292.5 151.4 116.9 OCTOBER 845.5 36.2 106.4 106.7 596.2 251.0 242.9 102.3 NOVEMBER 720.9 27.0 79.5 129.4 485.0 193.1 185.4 106.5 DECEMBER 563.9 30.2 65.9 91.9 375.9 117.8 128.7 129.4 533.5 35.9 60.0 102.8 334.8 175.4 81.4 78.0 FEBRUARY 261.3 26.1 27.8 60.0 147.4 $7.7 31.2 58.5 MARCH OR L A T E R 502.2 30.7 53.6 112.4 305.5 71.5 145.4 88.6 27,490.6 1,908.2 3,845.7 4,612.1 17,124.6 7,942.2 5,364.0 3,818.4 1972 JANUARY TOTAL * 1,122.6* % ncnuivMiMUun # TAV Akin nrw r nckin ua m n rt rrc i MARCH 10 405.9 30.2 48.8 57.7 269.2 151.7 54.2 63.3 MARCH 15 954.1 51.5 96.8 118.4 687.4 420.9 110.3 156.2 APRIL 15 1, 1 7 0 . 1 36.9 52.7 118.9 961.6 613.1 216.7 131.8 37 7 12 18 # UCuno A kin« I U . iiUnDCK MllMttFD nC Ur RAMWC1 DAINfxof 255 84 84 50 1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 2/ T O T A L D 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 O N D E C E M B E R 31, 1 9 6 5 . P R I M E 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 O F 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 Digitized 3/ for FRASER R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N THE S E C O N D A R Y M A R K E T . http://fraser.stlouisfed.org/ * TOTALS MAY NOT ADD DUE TO R O U N D I N G . Federal Reserve Bank of St. Louis QUALITY AND WHICH ARE TABLE 38 SALES Z 1 Z 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 AT W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 3/ AS O F 2 4 FEB 1971 C A M O U N T S IN M I L L I O N S OF D O L L A R S ) MONTH 2/ SI B I L L I O N CD'S MATURING IN 1971 FEB $200 TOTAL MILLION AND UNDER $500 M I L L I O N TO $1 B I L L I O N $200 MILLION TO $500 M I L L I O N AND OVER PRIME 4/ OUTSIDE N E W YORK CITY NON-PRIME NEW YORK CITY TOTAL 25-28 MARCH 2,430.6 215.9 413.7 440.9 1,360.1 499.4 320.3 540.4 APRIL 1,023.9 109.3 181.3 175.8 557.5 251.1 142.4 164.0 MAY 1,375.6 118.5 184.9 235.3 836.9 436.9 242*3 157.7 JUNE 363.2 24.9 52.6 69.1 216.6 123.4 59.6 33.6 JULY 285.9 13.9 35.4 38.4 198.2 127.6 57.1 13.5 AUGUST 652.1 35,6 84.8 82.8 448.9 255.0 101.8 92.1 SEPTEMBER 128.7 6.9 4.1 6.6 111.1 64.7 33.4 13.0 78.4 3.3 7.3 14.7. 53.1 23.3 15.2 14.6 NOVEMBER 148.2 3.2 9.0 7.8 128.2 85.7 34.1 8.4 DECEMBER 96.2 2.4 3.5 19.2 71.1 55.8 4.1 11.2 187.5 6.5 8.3 21.5 151.2 120.4 27.6 3.2 324.1 35.4 29.0 67.1 192.6 99.8 41.2 51.6 7,094.4 575.8 1,013.9 1,179.2 4,325.5 2,143.1 1,079.1 1,103.3 OCTOBER 1972 JANUARY FEBRUARY OR LATER TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 134.6 12.3 24.1 24.0 74.2 25.5 16.0 32.7 MARCH 15 164.6 11.4 39.7 29.2 84.3 32.7 17.3 34.3 APRIL 15 88.7 9.6 11.9 35.3 31.9 12.0 5.0 14.9 12 18 IMEMORANDUM: 255 84 N U M B E R OF 84 BANKS) 50 37 SEE TECHNICAL APPENDIX A. INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TR40B WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. $ TOTALS MAY NOT ADD DUE TO ROUNDING. 1/ 2/ 3/ 4/ TABLE 3C M A T U R I T Y D I S T R I B U T I O N O F 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/ A S OF 2 4 F E B 1971 PERCENTAGE DISTRIBUTION DEPOSIT 1/ $1 B I L L I O N CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION MILLION TO $1 B I L L I O N AND OVER PRIME $500 TOTAL NEW Y O R K CITY 1971 FEB 25-28 2.8 2.8 3.0 3.1 3.7 MARCH 29.1 29.9 29.2 31.0 APRIL 21.4 22.0 19.6 MAY 11.3 13.3 JUNE 9.3 JULY 3/ OUTSIDE NEW YORK CITY NON-PRIME 3.3 2.3 2.7 28.5 29.2 24.1 33.0 20.6 22.0 23.4 21.6 19.8 12.2 11.3 11.0 11.5 11. 7 8.9 9.1 10.2 9.1 9.1 9,5 10.0 7. 1 6.1 5.6 7.1 5.7 6.0 4.3 8.4 6.0 AUGUST 4.3 4.2 4.8 3.8 4.3 4.3 3.9 4.7 SEPTEMBER 3.1 3.1 2.9 2.7 3.3 3.7 2.8 3. 1 OCTOBER 3.1 1.9 2.8 2.3 3.5 3.2 4.5 2.7 NOVEMBER 2.6 1.4 2.1 2.8 2.8 2.4 3.5 2.8 DECEMBER 2.1 ' 1.6 1.7 2.0 2.2 1.5 2.4 3.4 1.9 1.9 1.6 2.2 2.0 2.2 1.5 2.0 FEBRUARY 1.0 1.4 0.7 1.3 0.9 0.7 0.6 1.5 MARCH OR L A T E R 1.8 1.6 1.4 2.4 1.8 0.9 2.7 2.3 100.0 100.0 100.0 IOO'.O 100.0 100.0 100.0 100.0 1972 J A N U A R Y TOTAL * — (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 1.5 1.6 1.3 1.3 1.6 1.9 1.0 1.7 MARCH 15 3.5 2.7 2.5 2.6 4.0 5.3 2. 1 4. 1 APRIL 15 4.3 1.9 1.4 2.6 5.6 7.7 4.0 3.5 1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE 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 31* 1 9 6 5 . 3/ P R I M E B A N K S A R E T H O S E W H O S 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 A S B E I N G OF T H E H I G H E S T R E P O R T E D BY D E A L E R S T O T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T . * T O T A L S M A Y N O T A D D D U E TO R O U N D I N G . QUALITY AND WHICH ARE 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 NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT AT W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 2/ AS OF 2 4 F E B 1971 CUMULATIVE PERCENTAGE 1/ $1 B I L L I O N CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 M I L L I O N TO $500 MILLION $500 M I L L I O N TO $1 B I L L I O N AND OVER PRIME 3/ TOTAL NEW Y O R K CITY OUTSIDE NEW YORK CITY NON-PRIME 3.0 3.1 3.7 2.8 2.8 3.3 2.3 2.7 MARCH 32.1 33.0 32.9 33.8 31.3 32.5 26.4 35.7 APRIL 53.5 55.0 52.5 54.4 53.3 55.9 48.0 55.5 MAY 64.8 68.3 64.7 65.7 64.3 67.4 59.7 64.4 JUNE 74.1 77.4 74.9 74.8 73.4 76.9 69.7 71.5 JULY 80.2 83.0 82.0 80.5 79.4 81.2 78.1 77.5 AUGUST 84.5 87.2 86.8 84.3 83.7 85.5 82.0 82.2 SEPTEMBER 87.6 90.3 89.7 87.0 87.0 89.2 84.8 85.3 OCTOBER 90.7 92.2 92.5 89.3 90.5 92.4 89.3 88.0 NOVEMBER 93.3 93.6 94.6 92.1 93.3 94.8 92.8 90.8 DECEMBER 95.4 95.2 96.3 94.1 95.5 96.3 95.2 94.2 JANUARY 97.3 97.1 97.9 96.3 97.5 98.5 96.7 96.2 FEBRUARY 98.3 98.5 98.6 97.6 98.4 99.2 97.3 97. 7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 FEB 25-28 MARCH OR L A T E R 1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 2 / T O T A L D 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 31, 1 9 6 5 . 3/ P R I M E B A N K S A R E T H O S E W H O S 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 A S B E I N G OF T H E H I G H E S T 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 T H E S E C O N D A R Y M A R K E T . QUALITY AND WHICH ARE TABLE 3E SALES /!/ OF N E G O T I A B L E TIME C E R T I F I C A T E S OF 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 AT W E E K L Y R E P O R T I N G B A N K S BY S I Z E OF B A N K S 3/ AS OF 2 4 F E B 1971 PERCENTAGE DISTRIBUTION 2/ $1 B I L L I O N $200 CD'S MATURING 1971 F E B IN TOTAL MILLION AND UNDER PRIME $500 M I L L I O N TO $1 B I L L I O N $200 M I L L I O N TO $500 MILLION A N D OVER TOTAL 4/ NEW Y O R K CITY OUTSIDE NEW YORK CITY NON-PRIME 25-28 MARCH 34.3 37.5 40.8 37.4 31.4 23.3 29.7 49.0 APRIL 14.4 19.0 17.9 14.9 12.9 11.7 13.2 14.9 MAY 19.4 20.6 18.2 20.0 19.3 20.4 22.5 14.3 JUNE 5.1 4.3 5.2 5.9 5.0 5.8 5.5 3.0 JULY 4.0 2.4 3.5 3.3 4.6 6.0 5.3 1.2 AUGUST 9.2 6.2 8.4 7.0 10.4 11.9 9.4 8.3 SEPTEMBER 1.8 1.2 0.4 0.6 2.6 3.0 3.1 1.2 OCTOBER 1.1 0.6 0.7 1.2 1.2 1.1 1.4 1.3 NOVEMBER 2.1 0.6 0.9 0.7 3.0 4.0 3.2 0.8 1.6 2. 6 0.4 1.0 5.6 2.6 0.3 4.7 3.8 4.7 100.0 100.0 100.0 DECEMBER 1972 J A N U A R Y FEBRUARY OR L A T E R TOTAL * * 1.4 0.4 0.3 1.6 2.6 1.1 0.8 1.8 3.5 4 .6 6.1 2.9 5.7 4-5 100.0 100.0 100.0 100.0 100.0 AMN nivTHFiun M A T M P Y T T F C I . _________ MARCH 10 1.9 2.1 2.4 2.0 1.7 1.2 1.5 3.0 MARCH 15 2.3 2.0 3.9 2.5 1.9 1.5 1.6 3.1 APRIL 15 1.3 1.7 1.2 3.0 0.7 0.6 0.5 1.4 MilMAFD lC RAM if CI mu noctv f ur DAniivoi (MEMORANDUM: 255 84 84 50 37 1/ S E E T E C H N I C A L A P P E N D I X A . 2/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 3/ T O T A L D E P O S I T S AS R E P O R T E D IN T H E 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 , 1 9 6 5 . 4 / P R I M E 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 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 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 . http://fraser.stlouisfed.org/ * T O T A L S M A Y N O T A D D DUE TO R O U N D I N G . Federal Reserve Bank of St. Louis 7 QUALITY 12 AND WHICH 18 ARE 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 CL.SSIMC.T,ON (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 3.1 3.2 3.2 NEW YORK CITY 3.0 2.7 2.9 CHICAGO 3.9 4.1 4.2 OTHER 3.1 3.3 3.2 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 2.9 3.1 3.0 $200-S500 MILLION 3.0 3.2 3.2 $500-Sl»000 MILLION 3.1 3.2 3.0 OVER <1 BILLION 3.2 3.1 3.2 PRIME IN NEW YORK CITY 3/ 2.9 2.7 3.0 PRIME OUTSIDE NEW YORK CITY 3/ 3.4 3.6 3.6 NON-PRIME 3.2 3.3 3.1 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. TABLE 4B AVERAGE MATURITY OF NEGOTIABLE SOLO PURING TIME CERTIFICATES BY W E E K L Y THE OF REPORTING M O N T H OF DEPOSIT 1/ BANKS VARIOUS SURVEYS (IN M O N T H S ) BANK CLASSIFICATION 24 FEB 1971 DATE OF 27 JAN SURVEY 30 DEC 1971 1970 (BY L O C A T I O N ) ALL REPORTING BANKS 3.2 2.7 2.6 4.2 2.4 2.4 CHICAGO 3.8 3.0 3.8 OTHER 2.6 2.9 2.7 ISSUING CD'S NEW YORK CITY (BY S I Z E OF 2.8 2.9 2.5 S200-S500 MILLION 2.5 2.8 2.7 $500-$1,000 3.0 3.1 2.5 3.5 2.6 2.7 4.1 2.3 2.5 3.3 3.1 3.3 2.5 2.5 2.5 UNDER OVER $200 $1 MILLION MILLION BILLION PRIME IN NEW PRIME OUTSIDE YORK CITY 3/ NEW Y O R K C I T Y 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS B A N K I 2/ IN D E N O M I N A T I O N S OF AS R E P O R T E D http://fraser.stlouisfed.org/ N O T E — S E E TECHNICAL APPENDIX B. Federal Reserve Bank of St. Louis IN THE C A L L $ 1 0 0 , 0 0 0 OR MORE R E P O R T OF C O N D I T I O N ISSUED BY W E E K L Y ON DECEMBER 31, REPORTING 1965. BANKS. « TABLE R A T I O OF OUTSTANDING 5A NEGOTIABLE TIME CERTIFICATES TO T O T A L OF DEPOSIT 1/ DEPOSITS AT V A R I O U S S U R V E Y D A T E S (PER C E N T ) DATE T O T A L 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 ! ALL B A N K S CD'S 2 4 FEB 1971 3 0 DEC 1970 ISSUING 200 10.6 10.2 9.6 200 - 500 10.8 10.8 10.2 500 - 10.6 10.9 10.1 11.8 11.7 11.0 14.1 13.6 12.6 9, I 9.2 8.5 13.1 13.1 12.8 1000 1000 IN N E W Y O R K PRIME OUTSIDE NEW 3/ YORK 3/ N O N P R I ME INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ BANKS ARE THOSE ARE R E P O R T E D BY JAN 10.6 PRIME NOTE- 27 11.3 OVER PRIME WHICH ' SURVEY 11.4 UNDER 1/ 1971 OF 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 ON BY W E E K L Y R E P O R T I N G DECEMBER 31, 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 T H E 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 OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T . D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O INTERBANK AND U.S. G O V E R N M E N T DEPOSITS. IN T H I S T A B L E ARE TOTAL D E M A N D AND TIME DEPOSITS, INCLUDING # TABLE R A T I O OF 5B OUTSTANDING NEGOTIABLE TIME CERTIFICATES TO TOTAL TOTAL (IN ALL DEPOSITS. 2/ MILLIONS BANKS CD' S 5% OR LESS OF D O L L A R S ) 5 TO 10% 1/ DEPOSITS AS OF 2 4 F E B (NUMBER OF D E P O S I T OF 1971 BANKSI 10 TO 15% 15 TO 20% 20 TO 25% AVERAGE CD TO DEPOSIT R A T I O (PER C E N T ) 25% OR MORE . ISSUING 54 76 63 33 18 11 11.4 UNDER 200 19 28 20 8 5 4 10.6 200 - 500 22 23 16 12 7 4 10.8 500 - 1000 10 12 17 6 4 1 10.6 3 13 10 7 2 2 11.8 0 0 5 2 0 0 14.1 2 5 2 2 1 0 9.1 1 8 3 3 1 2 13.1 OVER 1000 PRIME IN N E W PRIME OUTSIDE YORK NEW 3/ YORK 3/ N O N P R I ME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH 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 T H E H I G H E S T Q U A L I T Y A N D ARE R E P O R T E D 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 . NOTE- CERTIFICATES IN D E N O M I N A T I O N S OF AS R E P O R T E D IN T H E CALL S10C,000 REPORT OF 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. OR MORE CONDITION IN T H I S TABLE ISSUED BY W E E K L Y R E P O R T I N G ON D E C E M B E R ARE TOTAL 31, BANKS. 1965, D E M A N D AND T I M E DEPOSITS, INCLUDING TABLE PER CENT CHANGE 5C IN O U T S T A N D I N G N E G O T I A B L E 27 JAN 1971 T I M E C E R T I F I C A T E OF D E P O S I T TO 2 4 F E B (NUMBER OF 1971 BANKSI D E C L I N E S OF TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S OF 2/ REDUCED CD'S TO ZERO DOLLARS! ISSUING 1 0 % OR MORE 5 TO 10% Z1 5 % OR LESS NO CHANGE I N C R E A S E S OF • 5% OR 5 TO 1 0 % OR LESS 10% MORE ISSUED C D ' S BUT HAD NONE O U T S T A N D ING O N B A S E D A T E 2 25 42 31 12 58 32 52 3 UNDER 200 2 6 14 8 2 10 17 27 0 200 - 500 0 10 11 9 7 23 7 16 I 500 - 1000 0 7 9 7 2 12 5 6 2 0 2 8 7 1 13 3 3 0 0 0 1 1 0 3 I 1 0 0 0 5 1 0 4 2 0 0 0 2 2 5 1 6 0 2 0 OVER 1000 PRIME IN N E W Y O R K 3/ PRIME OUTSIDE YORK NEW 3/ N O N P R I ME 1/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF ISSUED BY W E E K L Y R E P O R T I N G C O N D I T I O N ON DECEMBER 31, BANKS. 3/ 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 A R E R E G A R D E D AS B E I N G O F T H E H I G H E S T Q U A L I T Y A N D ARE R E P O R T E D 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 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 . R E P O R T OF MORE D E P O S I T S AS R E P O R T E D NOTE- CALL OR 2/ T O T A L PRIME WHICH IN T H E $100,000 1965. THE N U M B E R OF B A N K S IN T H I S 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 T A B L E S T O T H E E X T E N T T H A T B A N K S T H A T H A D O U T S T A N D I N G C D ' S ON THE L A S T S U R V E Y R E D U C E D T H E I R O U T S T A N D I N G S T O ZERO O N T H I S S U R V E Y . TABLE PER CENT CHANGE IN O U T S T A N D I N G N E G O T I A B L E 25 NOV 1970 CIN ALL DEPOSITS M I L L I O N S OF BANKS CD'S Z2 REDU- DOLLARS) CD'S TO ZERO TIME C E R T I F I C A T E OF TO 2 4 F E B I NUMBER TOTAL 50 OF 20 TO 25% 15 TO 20% 10 TO 15% /I 1971 BANKS) DECLINES OF 25% OR MORE DEPOSIT INCREASE OF 5 TO 10% 5* OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE ISSUED C D ' S BUT HAD NONE OUTSTANDING ON BASE DATE ISSUING 2 14 4 . 8 20 19 23 6 26 27 16 17 20 52 3 UNDER 200 2 6 1 2 2 5 6 0 6 11 8 5 7 25 0 200 - 500 0 4 3 1 8 5 5 5 8 10 4 6 6 18 I 500 - 1000 0 4 0 2 3 3 8 1 9 3 2 5 4 4 2 0 0 0 3 7 6 4 0 3 3 2 1 3 5 0 0 0 0 0 1 0 0 0 1 0 0 0 2 3 0 0 0 ^0 1 2 3 1 0 I 2 1 0 0 1 0 0 0 0 2 4 3 3 0 1 1 1 1 1 1 0 OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW N O N P R I ME 3/ YORK 3/ 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL D E P O S I T S AS R E P O R T E D 3/ PRIME WHICH 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 A S B E I N G O F T H E H I G H E S T Q U A L I T Y A N D ARE R E P O R T E D 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 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 . NOTE- IN D E N O M I N A T I O N S OF IN T H E C A L L $100,000 REPORT OF OR MORE CONDITION ISSUED BY W E E K L Y ON D E C E M B E R 31, REPORTING BANKS. 1965. THE N U M B E R OF B A N K S IN T H I S 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 T A B L E S T O T H E E X T E N T T H A T H A D O U T S T A N D I N G C D ' S O N THE S U R V E Y T H R E E M O N T H S P R I O R TO T H E C U R R E N T S U R V E Y , R E D U C E D T H E I R OUTSTANDINGS TO ZERO. BANKS THAT TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING CF THE PERIOD 27 JAN 1971 TO 24 FEB 1971 (NUMBER OF BANKS) OF (IN MILLIONS OF DOLLARS) 3% AND OVER ALL BANKS ISSUING CD' S 2 TO 31 INCREASES OF 1 TO IX AND LESS 2% NO CHANGE 1% AND LESS 1 TO 2% 2 TO 3% 3% AND OVER 1 4 25 68 12 98 22 12 10 .UNDER 200 0 0 6 22 2 29 15 6 4 200 - 500 1 2 6 21 7 34 4 4 4 500 - 1000 0 1 9 13 2 18 3 1 1 OVER 1000 0 1 4 12 1 17 0 1 1 PRIME IN NEW YORK 3/ 0 0 1 1 0 4 0 1 0 PRIME OUTSIDE NEW YORK 3/ 0 0 1 5 0 6 0 0 0 NONPRI ME 0 1 2 6 1 7 0 0 1 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3 ' -s!ch "E «E™rte™!$ k INTERBANK I AND H U.s! N GOVERNMENT F DEPOSITs!° t «!?mN'"«s°e.sis0p5L"^;":c2EST;6%"!;s,2%;"s^oN=«,o»u;i;^.*ND IN ™ I S T A B L E ARE T 0 T A L DEMAND AND TIME DEPOSITS, INCLUDING TABLE CHANGE OVER IN O U T S T A N D I N G N E G O T I A B L E THE LAST THREE AT MONTHS THE AS 1970 (IN 5% M I L L I O N S OF D O L L A R S ) BANKS CD1 S OF T H E OF OF TOTAL DEPOSIT 1/ DEPOSITS PERIOD 1971 BANKS) D E C L I N E S OF 2/ AND OVER ALL CENT TO 2 4 F E B (NUMBER DEPOSITS TIME C E R T I F I C A T E S OF A PER BEGINNING 25 NOV TOTAL 5F 4 TO 3 TO 4% 51 I N C R E A S E S OF 2 TO 3% 2% It NO CHANGE 1% AND LESS 1 TO 1 TO AND UNDER 3 TO 4% 2 TO 3% 2% 5% 4 TO 5% AND OVER ISSUING 1 0 6 13 20 49 6 58 35 23 17 11 13 UNDER 200 0 0 2 7 3 10 0 24 15 5 8 4 6 200 - 500 0 0 3 4 7 12 5 18 13 9 5 3 4 500 - 1000 1 0 0 0 4 16 1 11 5 6 2 1 1 0 C 1 2 6 11 0 5 2 3 2 3 2 0 0 0 0 1 0 0 1 0 1 2 2 0 0 0 0 1 1 5 0 2 1 1 0 0 1 0 0 1 1 4 6 0 2 1 1 0 1 1 OVER 1000 PRIME IN NEW YORK PRIME OUTSIDE NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH B A N K S ARE T H O S E ARE R E P O R T E D BY NOTE- IN D E N O M I N A T I O N S AS R E P O R T E D IN THE C A L L OF $ 1 0 0 , 0 0 0 OR REPORT OF MORE ISSUED C O N D I T I O N ON BY W E E K L Y 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 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 THE D E N O M I N A T O R OF THE R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN T H I S TABLE ARE T O T A L DEMAND AND TIME DEPOSITS, INCLUDING TABLE 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 FEB 1971 (AMOUNTS IN MILLIONS OF DOLLARS 1 CD'S 1971 MATURING FEB IN 25-FEB ALL DIS-. TRICTS 28 815.9 BOSTON NEW YORK PHI L A OELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 38.0 324.3 16.4 63.6 38.4 38.3 90.7 10.1 8.5 18.1 61.6 107.9 MAR 7 9 9 7. 5 545.3 3131.0 292.4 321.5 216.9 270.1 860.7 133.4 86.4 225.5 686. 7 1227.6 APR 5893.1 401.5 2410.3 152.1 314.7 132.0 164.6 677.9 83.7 74.7 155.6 397. 1 928.9 MAY 3117.9 150.8 1116.5 111.5 165.1 74.4 121.3 365.7 71.1 57.3 87.6 188.7 607.9 JUN 2549.8 133.8 971.2 67.9 111.3 110.8 108.9 330.5 72.8 21.2 65.3 104.5 451.6 JUL 1665.9 66.7 432.5 47.7 161.3 80.5 63.8 211.9 31.7 15.0 58.6 149.7 346.5 AUG 1168.3 51.4 439.7 31.5 58.6 4 2*2 52.6 121.5 30.4 16.9 36.1 95.6 191.8 SEP 855.2 18.5 348.0 17.4 52.1 31.3 29.5 102.6 8.1 6.6 33.4 41. 7 166.0 OCT 845.5 78.3 298.3 18.1 43.8 33.8 16.6 181.6 10.6 4.7 20.7 47.8 91.2 NOV 721.0 61.3 231.5 22.3 30.1 8.4 22.7 122.5 18.0 3.5 18.7 64.7 117.3 DEC 564.0 22.3 189.3 21.5 25.2 6.8 10.0 86.6 29.6 15.2 12.1 57.9 87.5 1972 J A N 533.8 11.8 191.4 18.9 21.7 11.9 22.2 95.4 16.2 8.1 10.2 74.3 51.7 FEB 261.1 7.6 100.5 3.7 11.5 6.7 14.2 20.3 3.7 6.9 6.7 38. 0 41.3 502.4 24.1 117.7 18.7 88.7 23.3 21.1 15.7 17.8 3.2 5.1 42. 9 64.6 1611.4 10302.2 840.1 1469R2 955.9 3343.1 537.2 328.2 753.7 2051.2 4481.8 MAR TOTAL OR L A T E R * 2 7 4 91. 4 817 *4 AVERAGE MATURITY IN M O N T H S 2/ 3.1 2. 7 2.9 2.9 3.6 3.2 3.1 3.4 3.7 3.1 2.9 3.2 3.0 NUMBER BANKS 255 18 44 10 18 16 24 35 11 5 19 23 32 OF R E P O R T I N G If INCLUDES ONLY CERTIFICATES 2/ SEE T E C H N I C A L APPENDIX B. ISSUED IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE BY W E E K L Y REPORTING BANKS. TABLE 66 1/ 2/ 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 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 (AMOUNTS 1971 IN M I L L I O N S OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 244.3 47.1 39.6 87.7 275.4 371.5 32.9 122.5 20.0 18.6 33.6 75.6 150.2 26.4 51.5 121.1 32.7 24.7 45.1 84.8 277.3 12.6 17.2 11.6 28.3 12.4 8.0 6.3 9*5 57.7 3.6 7.0 5.3 3.8 29.4 8.8 10.2 16.8 8.9 36.3 309.4 11.5 9.8 12.9 29.2 73.1 16.5 14.4 10.2 56. 1 92.0 1.9 67.5 3.6 1.2 0.2 1.4 12.8 1.4 0.5 0.8 1.7 35.7 78.4 21.6 42.7 0.2 0.9 1.2 1.1 2.6 0.7 0.5 2.1 1.4 3.4 NOV 148.4 8.2 90.0 1.6 7.0 1.4 3.8 6.5 0.7 0.9 0.7 0.4 27.2 DEC 96.4 1.6 76.8 0.1 2.5 0.1 0.2 3.3 0.1 5.1 0.5 1.3 4.8 1972 JAN 187.6 2.2 123.9 0.3 3.1 1.4 3.0 28.8 1.4 6.6 1.7 7.6 7.6 324.9 11.6 164.7 15.4 2.7 6.9 11.7 40.8 0.3 6.9 6.0 14.7 43.2 7081.4 423.0 2933.7 229.5 242.0 167.7 238.1 713.5 142.1 136.0 211.5 537.4 1106.9 3.1 2.5 3.7 2.5 2.3 2.5 2.9 3.2 2.5 3.6 2.4 ALL DISTRICTS BOSTON MAR • 2428.4 175.3 APR 1022.8 MAY JUN CD'S MATURING 1971 IN CLEVELAND 831.5 99.2 98.8 70.1 87.9 83.1 377.4 37.1 47.2 24.6 1367.5 64. 7 542.0 48.0 49.2 362.2 23.6 166.1 8.9 284.8 13.0 141.7 AUG 651.3 16.2 SEP 128.7 OCT . F E B OR TOTAL RICHATLANTA MOND PHILADELPHIA JUL LATER * AVERAGE MATURITY IN M O N T H S 3/ 1/ S E E T E C H N I C A L APPENDIX 2/ INCLUDES ONLY CERTIFICATES 3/ SEE T E C H N I C A L APPENDIX • 2 4 FEB SINCE PREVIOUS MONTH DETAILS MAY NOT A D D TO NEW YORK CHICAGO A. 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 . $ 1 0 0 , 0 0 0 OR M O R E BY W E E K L Y R E P O R T I N G BANKS. 2.2 2.9 TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 FEB 1971 (PERCENTAGE DISTRIBUTION! CD'S MATURING IN ALL 01S— ' NEW PH1LA- CLEVE- DELPHIA LAND RICH- CHI- ST. MINNE- LOUIS APOLIS KANSAS DALLAS CISCO 2.4 3.0 2.4 26.3 29.9 33.5 27.4 15.6 22.8 20.6 19.4 20.7 10.9 13.2 17.5 11.6 9.2 13.6 11.4 9.9 13.6 6.5 8.7 5.1 10.1 9.9 6.7 6.3 5.9 4.6 7.8 7.3 7.7 4.0 5.1 5.5 3.6 5.7 5.1 4.8 4.7 4.3 2.1 3.6 3.8 3.1 3.1 1.5 2.0 4.4 2.0 3.7 2.9 2.2 3.0 4.1 1.7 5.4 2.0 1.4 2.7 2,3 2.0 3.8 2.2 2.7 2.1 1.0 2.4 3.7 3.4 1.1 2.5 3.2 2.6 2.1 1.4 1.8 2.6 1.7 0.8 1.0 2.6 5.5 4.6 1.6 2.8 2.0 1972 J A N 1.9 0.7 1.9 2.2 1.5 1.5 2.3 2.9 3.0 2.5 1.4 3.6 1.2 FEB 1.0 0.5 1.0 0.4 0.8 0.8 1.5 0.6 0.7 2.1 0.9 1.9 0.9 1.8 1.5 1.1 2.2 6.1 2.9 2.2 2.2 3.3 1.0 0.7 2. 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1971 MONO ATLANTA CAGO BOSTON 3.0 2.4 3.1 2.0 4.4 4.7 4.0 2.7 1.9 2.6 MAR 29.1 33.8 30.4 34.8 22.1 26.4 28.3 25.7 24.8 APR 21.4 24.9 23.4 18.1 21.5 16.2 17.2 20.3 MAY 11.3 9.4 10.8 13.3 10.8 9.1 12.7 JUN 9.3 8.3 9.4 8.1 7.6 13.6 JUL 6.1 4. 1 4.2 5.7 11.0 AUG 4.2 3.2 4.3 3.7 SEP 3.1 1.1 3.4 OCT 3.1 4.9 NOV 2.6 DEC FEB MAR TOTAL YORK TRICTS * 25- F E B OR 28 LATER 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 ISSUED IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. CITY SAN FRAN- 1 100.0 1.4 ioo.(T TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 24 FEB 1971 (CUMULATIVE PERCENTAGE! CD1 S MATURING 1971 1972 ALL DISTRICTS BOSTON 3,0 2.4 MAR 32,1 APR ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 2.7 1.9 2.6 2.4 3.0 2.4 32.3 28.4 26.7 28.9 32.3 36. 5 29.8 47.3 49.5 48.7 42.3 51.7 52.9 55. 9 50.5 58. 8 56.4 62.2 59.6 55.5 69.2 64.5 65. 1 64.1 76.3 66.4 70.0 73.6 69.5 69. 1 75.7 73.2 70.2 74.2 81.3 82.0 77.4 79.9 80.3 75.8 75.0 80.3 81.0 77.5 81.9 86.1 85.6 85.7 81.4 85.0 85.8 79.4 80.7 85.4 85. 8 82.2 86.2 87.5 87.2 89.0 87.8 85.0 88.8 88.9 82.5 82.2 87.4 90.2 84. 2 89.9 OCT 90.6 92.1 91.9 90.0 88.0 92.9 90.6 87.9 84.2 88.8 92.9 86. 5 91.9 NOV 93.2 95.9 - 94.1 92.7 90. 1 93.9 93.0 91.6 87.6 89.9 95.4 89.7 94.5 DEC 95.3 97.3 95.9 95.3 91.8 94.7 94.0 94.2 93.1 94.5 97.0 92.5 96.5 JAN 97.2 98.0 97.8 97.5 93.3 96.2 96.3 97.1 96. 1 97.0 98.4 96. 1 97.7 FEB 98.2 98.5 98. 8 97.9 94. 1 97.0 97. 8 97.7 96.8 99.1 99.3 98. 0 98.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100. 0 100.0 PHILADELPHIA CLEVELAND RICHMOND ATLANTA 3.1 2.0 4.4 • 4.7 4.0 36.2 33.5 36.8 26.5 31.1 53.5 61.1 56.9 54.9 48.0 MAY 64.8 70.5 67.7 68.2 JUN 74.1 78.8 77.1 JUL 80.2 82.9 AUG 84.4 SEP FEB MAR 1/ IN 25 -FEB OR INCLUDES 28 LATER ONLY C E R T I F I C A T E S ISSUED NEW YORK IN D E N O M I N A T I O N S OF 100.0 * 1 0 0 , 0 0 0 OR M O R E CHICAGO BY W E E K L Y REPORTING BANKS. T A B L E 6E 1/ 2/ S A L E S 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 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 2 4 FEB (PERCENTAGE CD'S MATURING IN ALL DISTRICTS BOSTON MAR 34.3 41.4 APR 14.4 MAY 1971 DISTRIBUTION! PHILADELPHIA CLEVELAND 28.3 43.2 41.0 41.8 36.9 19.6 12.9 16.2 19.6 14.7 19.3 15.3 18.5 20.9 20.4 JUN 5.1 5.6 5.7 3.9 JUL 4.0 3.1 4.8 AUG 9.2 3.8 SEP 1.8 OCT NEW YORK MINNEAPOLIS KANSAS CITY DALLAS FRANCISCO 34.2 33. 1 29.1 41.5 51.2 33.6 13.8 17.2 14.1 13.7 15.9 14.1 13.6 15.7 21.6 17.0 23.0 18.2 21.3 15.8 25.1 5.2 10.3 4.9 4.0 8.7 5.9 3.0 1. 8 5.2 1.6 2.9 3.2 1.6 4.1 6.2 7.5 7.9 1.7 3.3 10.5 5.0 3.7 7.7 12.3 10.2 11.6 10.6 4.8 10.4 8.3 0.4 2.3 1.6 0.5 0.1 0.6 1.8 1.0 0.4 0.4 0.3 3.2 1.1 5.1 1.5 0.1 0.4 0.7 0.5 0.4 0.5 0.4 1.0 0.3 0.3 NOV 2.1 1.9 3.1 0.7 2.9 0.8 1.6 0.9 0.5 0.7 0.3 0.1 2.5 DEC 1.4 0.4 2.6 0.0 1.0 0.1 0.1 0.5 0.1 3.8 0.2 0.2 0.4 1972 J A N 2.6 0.5 4.2 0.1 1.3 0.8 1.3 4.0 1.0 4.9 0.8 1.4 0.7 4.6 2.7 5.6 6.7 1.1 4,1 4.9 5.7 0.2 5.1 2.8 2.7 3.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 F E B OR L A T E R TOTAL * 1/ SEE T E C H N I C A L APPENDIX 2/ INCLUDES ONLY CERTIFICATES NOTE - SALES DETAILS IN T H I S MAY NOT TABLE RICHMOND ATLANTA SAN ST. LOUIS 1971 * SINCE PREVIOUS MONTH CHICAGO A. ISSUED ARE N O T A D D TO T O T A L S DUE IN D E N O M I N A T I O N S OF A D J U S T E D FOR C D ' S TO ROUNDING. THAT S L O O T O O O OR HAVE MORE MATURED. BY W E E K L Y REPORTING BANKS* TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD's maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month—after the survey date—are assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD's mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce 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, lar^e 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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