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L.4.1 CONFIDENTIAL (FR) March 20, 1972 Rese orch Library , SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF February 23, 1972 NOTE: Sales since the previous survey and comparisons with previous data reflect revisions in the January report whereby $6.9 million in outstanding negotiable CD's have been eliminated from the series. s s % Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE I 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING A S OF CD'S MATURING 29 1972 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE P R E V I O U S M O N T H 2/ ( M I L L I O N S OF D O L L A R S ) .0 1.706.4 5.0 5.0 MARCH 10.078.4 29.6 34.6 3,456.1 APRIL 5,490.3 16.1 50.7 1,047.5 MAY 3.708.5 10.9 61.6 1,349.4 JUNE 2.694.6 7.9 69.5 324.7 JULY 2,385.1 7.0 76.5 476.2 AUGUST 1,786.9 5.2 81.7 738.0 SEPTEMBER 1,249.3 3.7 85.4 91.3 OCTOBER 1,234.1 3.6 89.0 111.3 NOVEMBER 647.7 1.9 90.9 199.8 DECEMBER 867.8 2.5 93.4 107.5 JANUARY 925.2 2.7 96.1 203.3 FEBRUARY 391.2 1.1 97.2 404.7 3/ OVER 890.0 2.6 100.0 XXX 34.055.5 100.0 XXX 8,509.8 1972 FEBRUARY 1973 AMOUNT (MILLIONS OF DOLLARS) IN 23 FEB BANKS 24 - 12 M O N T H S TOTAL (MEMORANDUM: MARCH MARCH APRIL AND 1/ INCLUDES ONLY CERTIFICATES IN D E N O M I N A T I O N S OF 2/ SEE T E C H N I C A L APPENDIX A. MATURING AFTER 11 M O N T H S ^ DIVIDEND MATURITIES) 1 .6 549.8 1,462.3 767.6 10 15 17 http://fraser.stlouisfed.org/ 3 / ^ S A L E S OF C D Federal Reserve Bank of St. Louis TAX XXX XXX XXX 4.3 2.3 $ 1 0 0 , 0 0 0 OR M O R E ^ ISSUED ^ 165.1 254.4 145.4 BY W E E K L Y R E P O R T I N G ^ BANKS. ^ TABLE 2A 1/ 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 D E P O S I T AT NEW Y O R K 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 B A N K S AS OF 23 F E B 1972 (IN M I L L I O N S OF D O L L A R S ) NEW CD'S MATURING IN AMOUNT 1 9 7 2 F E B 2 4 - FEB 29 YORK C I T Y CHICAGO SALES S I N C E P R E V I O U S M O N T H 2/ AMOUNT ALL O T H E R SALES SINCE P R E V I O U S M O N T H 2/ WEEKLY REPORTING BANKS AMOUNT S A L E S SINCE PREVIOUS MONTH 2 / ' 482.8 .0 101.7 .0 MARCH 3 ,443.2 879.1 636.2 164.1 APRIL 1 ,722.9 256.0 376.6 99.9 3,390.8 691.6 MAY 1 ,143.5 379.1 188.0 46.2 2,377.0 924.1 JUNE 803.3 113.1 245.3 1.3 1,646.0 210.4 JULY 857.7 242.3 170.0 39.4 1,357.4 194.6 AUGUST 793.6 376.8 154.6 56.1 838.8 305.2 SEPTEMBER 367.3 34.7 157.7 .2 724.4 56.5 OCTOBER 455.1 47.3 82.0 1.6 697.0 62.3 NOVEMBER 281.1 136.7 26.8 5.5 339.9 57.6 DECEMBER 402.9 53.4 13.1 451.8 54.1 295.5 42.2 29.2 600.5 156.5 6 6 . 4 Z3 13.3 310.2 3 2 6 . 7 Z3 1973 J A N U A R Y FEBRUARY OVER 67.8 12 M O N T H S TOTAL * 5,998 . 1 4.5 11.6 Z3 .0 2,412.8 256.6 XXX 27.1 XXX 606.3 XXX 11 ,373.3 2,627.1 2 , 2 2 1 .6 430.5 20,460.8 5,452.4 NUMBER OF REPORTING BANKS 12 12 (MEMORANDUM: MARCH MARCH APRIL 1,121.8 10 15 17 186.7 731.4 277.3 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 17.9 55.6 29.2 IN D E N O M I N A T I O N OF 2/ SEE T E C H N I C A L APPENDIX A. 3/ S A L E S OF C D ' S MATURING AFTER 11 M O N T H S . * T O T A L S MAY NOT ADD D U E TO R O U N D I N G . TAX AND DIVIDEND 19.7 111.2 70.1 $ 1 0 0 , 0 0 0 OR M O R E 230 MATURITIES) 3.4 14.0 38.7 ISSUED BY W E E K L Y R E P O R T I N G 343.5 619.7 420.2 BANKS. 143.9 184.8 77.5 TABLE 2B 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 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 BANKS AS OF 23 F E B 1972 AND 26 JAN 1972 (PERCENTAGE DISTRIBUTION) CD'S MATURING NEW YORK C I T Y IN 23 FEB 0 - 6 D A Y S 2/ 23 FEB ALL OTHER 26 JAN 23 FEB 26 JAN 4.2 7.5 4.6 5.2 5.5 6.6 01 M O N T H S 3/ 30.3 19.3 28.6 20.8 29.3 24.9 02 MONTHS 15.1 22.7 17.0 20.7 16.6 17.7 03 M O N T H S 10.1 13.0 8.5 12.1 11.6 13.3 04 MONTHS 7.1 6.8 1 1.0 6.2 8.0 7.2 05 M O N T H S 7.5 6.1 7.7 10.7 6.6 7.1 06 M O N T H S 7.0 5.4 7.0 5.7 4.1 5.7 07 MONTHS 3.2 3.7 7.1 4.3 3.5 2.6 08 M O N T H S 4.0 2.9 3.7 6.9 3.4 3.3 09 M O N T H S 2.5 3.6 1.2 3.5 1.7 3.1 10 M O N T H S 3.5 1.3 .6 .9 2.2 1.4 11 M O N T H S 2.6 3.1 1.3 .6 2.9 2.0 12 M O N T H S .6 2.2 .6 1.1 1.5 2.2 2.3 2.3 1.2 1.3 3.0 2.9 100.0 100.0 100.0 100.0 100.0 100.0 OVER : 12 M O N T H S TOTAL * 1/ 26 JAN CHICAGO I N C L U D E S ONLY C E R T I F I C A T E S B ANKS• IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY R E P O R T I N G 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 NUMBER OF D A Y S F O L L O W I N G T H E L A S T W E D N E S D A Y OF T H E M O N T H . 3/ NUMBER OF M O N T H S F O L L O W I N G THE * T O T A L S MAY N O T SURVEY M O N T H . ADD DUE TO R O U N D I N G . TABLE MATURITY 2C DISTRIBUTION OF OUTSTANDING NEGOTIABLE NEW T I M E C E R T I F I C A T E S OF Y O R K C I T Y , C H I C A G O , AND A L L O T H E R W E E K L Y AS O F 23 F E B 1972 AND 26 JAN REPORTING 1/ DEPOSIT AT BANKS 1972 (CUMULATIVE DISTRIBUTION) NEW YORK C I T Y CD'S MATURING 23 F E B 0-6 ALL OTHER DAYS 2/ 1 26 JAN 23 F E B 26 JAN 23 F E B 26 J A N 4.2 7.5 4.6 5.2 5.5 6.6 01 M O N T H S 3/ 34.5 26.8 33.2 26.0 34. 8 31.5 02 M O N T H S • 49.6 49.5 50.2 46.7 51.4 49.2 03 MONTHS 59.7 62.5 58.7 58.8 63.0 62.5 04 MONTHS 66.8 69.3 69.7 65.0 71.0 69.7 05 M O N T H S 74.3 75.4 77.4 75.7 77.6 76.8 06 M O N T H S 81.3 80.8 84.4 81.4 81.7 82.5 07 MONTHS 84.5 84.5 91.5 85.7 85.2 85.1 08 MONTHS 88.5 87.4 95.2 92.6 88.6 88.4 09 MONTHS 91.0 91.0 96.4 96.1 90.3 91.5 10 M O N T H S 94.5 92.3 97.0 97.0 92.5 92.9 11 M O N T H S 97. 1 95.4 98.3 97.6 95.4 94.9 12 M O N T H S 97.7 97.6 98.9 98.7 96.9 97.1 100.0 100.0 100.0 100.0 100.0 100.0 OVER 1/ CHICAGO IN 12 M O N T H S INCLUDES ONLY CERTIFICATES BANKS. IN D E N O M I N A T I O N S O F 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 T H E L A S T W E D N E S D A Y OF T H E M O N T H . 3/ MONTHS FOLLOWING NUMBER OF THE S U R V E Y M O N T H . $ 1 0 0 , 0 0 0 OR MORE ISSUED PERIOD VARIES WITH BY W E E K L Y R E P O R T I N G THE NUMBER OF D A Y S T A B L E 3A 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 TIME C E R T I F I C A T E S OF D E P O S I T AT W E E K L Y R E P O R T I N G B A N K S BY SIZE OF B A N K S 2/ AS OF 23 F E B 1 9 7 2 ( A M O U N T S IN M I L L I O N S OF D O L L A R S ) 1/ $1 B I L L I O N CD* S M A T U R I N G 1972 FEB IN 24-29 TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION AND OVER PRIME 3/ $500 M I L L I O N TO $1 B I L L I O N TOTAL OUTSIDE NEW Y O R K CITY NON-PRIME NEW Y O R K CITY 1,706.2 113.7 311.4 370.4 910.7 454.2 216.8 239.7 MARCH 10,078.2 797.3 1,454.6 1,683.9 6,142.4 3,183.3 1,642.5 1,316.6 APRIL 5,490.2 312.6 784.9 982.1 3,410.6 1,556.9 1,084.0 769.7 MAY 3,708.4 291.7 539.6 674.3 2,2 0 2 . 8 1,054.4 674.5 473.9 JUNE 2,694.5 169.1 394.4 421.0 1,710.0 770.4 585.5 354.1 JULY 2,385.0 129.7 290.3 360.5 1 , 604.5 841.0 521.5 242.0 AUGUST 1,786.8 91.5 177.1 190.8 1,327.4 767.7 364.2 195.5 SEPTEMBER 1,249.2 86.1 130. 1 151.5 R81.5 365.2 367.3 149.0 OCTOBER 1,234.0 56.8 129.4 150.1 897.7 449.2 284.8 163.7 NOVEMBER 647.7 35.3 68.7 97.0 446.7 279.0 89.2 78.5 DECEMBER 867.6 37.0 94.2 91 .6 644.8 392.7 1^0.9 121.2 925.2 35.4 116.2 113.6 660.0 295.2 200.9 163.9 FEBRUARY 391.2 26. 1 47.7 55.0 262.4 67.5 109.7 85.2 MARCH OR LATER 890.0 55.5 86.7 182.9 564.0 243.0 236. 9 85.0 34,054.2 2,237.8 4,625.3 5,524.7 21,666.4 10,719.7 6,508.7 4,438.0 85.9 1973 J A N U A R Y TOTAL * — (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 549.8 47.3 71.3 100.4 330.8 178.8 66.1 MARCH 15 1,462.3 53.8 132.1 164.7 1,111.7 686.9 2R?.0 142.8 APRIL 17 767.5 30.4 74.6 110.7 551.8 261.7 197.8 92.3 12 18 (MEMORANDUM: 254 88 NUMBER 81 OF B A N K S ) 48 37 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 ISSUED BY W E E K L Y R E P O R T I N G B A N K S . 2/ T O T A L D E P O S I T S AS R E P O R T E D IN 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 . 3/ P R I M E B A N K S ARE 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 ARE R E G A R D E D AS B E I N G O F 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 I OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N THE S E C O N D A R Y M A R K E T . Digitized for * FRASER T O T A L S MAY N O T ADD DUE T O R O U N D I N G . QUALITY AND W H I C H ARF l CD'S MATURING 1972 FEB IN TOTAL $200 MILLION AND UNDER MILLION TO MILLION $500 MILLION TO $1 BILLION ! 1 $1 BILLION AND i 1 1I 5m !I SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 23 FEB 1972 (AMOUNTS IN MILLIONS OF DOLLARS) i a I i I i i TABLE 3R PRIME 4/ '«•» — — — — — — • <— TOTAL NEW YORK CITY OUTSIDE NFW YORK CITY NON-PRIME 24-29 MARCH 3,456.0 418.3 557.5 663.9 1,816.3 720.8 521.2 574.3 APRIL 1,047.5 70.7 143.9 217.3 615.6 193.4 232.9 189.3 MAY 1.349.3 138.8 239.4 274.2 696.9 315.8 2 n 0.9 180.2 JUNE 324.7 29.5 58.7 92.2 144.3 110.6 14.7 19.0 JULY 476.2 29.6 48.6 46.3 351.7 238.9 94.7 28.1 AUGUST 738.0 35.2 75.7 86.5 540.6 353.8 118.3 68.5 91.3 7.1 11.1 12.5 60.6 34.1 7.8 18.7 OCTOBER 111.2 2.4 19.6 17.9 71.3 42.1 10.3 18.9 NOVEMBER 199.7 3.1 11.0 16.3 169.3 136.4 10.6 22.3 DECEMBER 107.4 3.2 10.0 14.7 79.5 48.0 7.7 203.4 4.1 26.7 18.3 154.3 42.1 65.2 47.0 404.7 23.0 44.1 59.8 277.8 66.2 111.3 100.3 8.509.4 765.0 1,246.3 1,519.9 4,978.2 2,302.2 1,385.6 1,290.4 SEPTEMBER 1973 JANUARY FEBRUARY OR LATER TOTAL * (MEMORANDUM: 23.8 TAX AND DIVIDEND MATURITIES) MARCH 10 165. 1 32.5 19.7 54.5 58.4 14.3 17.4 26.7 MARCH 15 254.5 17.6 44.7 38.7 153.5 50.6 55.3 47.6 APRIL 17 145.4 16.3 12.1 21.9 95.1 21.2 45.7 28.2 12 18 (MEMORANDUM: 254 1/ 2/ 3/ 4/ 88 NUMBER OF BANKS) 81 48 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 TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. * TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 3C 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 W E E K L Y R E P O R T I N G B A N K S BY SIZE OF B A N K S 2/ AS O F 2 3 F E B 1972 PERCENTAGE DISTRIBUTION 1/ $1 B I L L I O N CD'S MATURING IN TOTAL $200 MILLION A N D UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 B I L L I O N AND OVER PRIME 3/ TOTAL 1972 F E B 24-29 NON-PRIME 5.0 5.1 6.7 6.7 4.2 4.2 3.3 5.4 MARCH 29.6 35.6 31.4 30.5 28.3 29.7 25.2 29.7 APRIL 16.1 14.0 17.0 15.7 14.5 16.7 17.3 MAY 10.9 13.0 11.7 12.2 10.2 9.8 10.4 10.7 JUNE 7.9 7.6 8.5 7.6 7.9 7.2 9.0 8.0 JULY 7.0 5.8 6.3 6.5 7.4 7.8 8.0 5.5 AUGUST 5.2 4.1 3.8 3.5 6.1 7.2 5.6 4.4 SEPTEMBER 3.7 3.8 2.8 2.7 4.1 3.4 5.6 3.4 OCTOBER 3.6 2.5 2.8 2.7 4.1 4.2 4.4 3.7 NOVEMBER 1.9 1.6 1.5 1.8 2.1 2.6 1.4 L.R DECEMBER 2.5 1.7 2.0 1.7 3.0 3.7 2.0 2.7 2.7 1.6 2.5 2.1 3.0 2.8 3. 1 3.7 FEBRUARY 1.1 1.2 1.0 1.0 1.2 0.6 1.7 1.9 MARCH OR LATER 2.6 2.5 1.9 3.3 2.6 2.3 3.6 1.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1973 J A N U A R Y TOTAL * — . OUTSIDE NEW YORK CITY 00 NEW YORK CITY (MEMORANDUM: TAX AND DIVIDEND MATURITIES) MARCH 10 1.6 2.1 1.5 1.8 1.5 1.7 1.0 1.9 MARCH 15 4.3 2.4 2.9 3.0 5.1 6.4 4.3 3.? APRIL 17 2.3 1.4 1.6 2.0 2.5 2.4 3.0 2.1 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 CR 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 T H E 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 3 1 , 1965. 3/ P R I M E B A N K S ARE 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 TRADE W I T H I N 1 O R 2 B A S I S P O I N T S OF E A C H 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 MAY N O T ADD DUE TO R O U N D I N G . QUALITY AMD W H I C H ARF TABLE 3D 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 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 O F 2 3 F E B 1 9 7 2 CUMULATIVE PERCENTAGE DEPOSIT 1/ $1 B I L L I O N MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 M I L L I O N TO $1 B I L L I O N A N D OVER PRIME TOTAL NEW YORK CITY ! FEB 24-29 3/ OUTSIDE NEW Y O R K CITY N O N - P R IMF 5.0 5.1 6.7 6.7 4.2 4.2 3.3 5.4 MARCH 34.6 40.7 38.1 37.2 32.5 33.9 28.5 35.1 APRIL 50.7 54.7 55.1 55.0 48.2 48.4 45.2 52.4 MAY 61.6 67.7 66.8 67.2 58.4 58.2 55.6 63.1 JUNE 69.5 75.3 75.3 74.8 66.3 65.4 64.6 71.1 JULY 76.5 81.1 81.6 81.3 73.7 73.2 72.6 76.6 AUGUST 81.7 85.2 85.4 84.8 79.8 80.4 78.2 81.0 SEPTEMBER 85.4 89.0 88.2 87.5 83.9 93.8 83.8 84.4 OCTOBER 89.0 91.5 91.0 90.2 88.0 88.0 88.2 88. 1 NOVEMBER 90.9 93.1 92.5 92.0 90.1 90.6 89.6 89.9 DECEMBER 93.4 94.8 94.5 93.7 93.1 94.3 91.6 92.6 96.1 96.4 97.0 95.8 96.1 97.1 94.7 96.3 97.2 97.6 98.0 96.8 97.3 97.7 96.4 98.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 i JANUARY FEBRUARY 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 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 . 3/ P R I M E B A N K S ARE 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 . QUALITY AND WHICH ARE SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 23 FEB 1072 PERCENTAGE DISTRIBUTION TABLE 3E $1 BILLION AND OVER CD'S MATURING IN 1972 FEB TOTAL $200 " MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIMF 24-29 MARCH 40.6 54.7 44.7 43.7 36.5 31.3 37.6 44. 5 APRIL 12.3 9.2 11.5 14.3 12.4 8.4 16.R 14.7 MAY 15.9 18.1 19.2 18.0 14.0 13.7 14.5 14.0 JUNE 3.8 3.9 4.7 6.1 2.9 4.8 1.1 1.5 JULY 5.6 3.9 3.9 3.0 7.1 10.4 6. 1 2.2 AUGUST 8.7 4.6 6.1 5.7 10.9 15.4 8.5 5.3 SEPTEMBER 1.1 0.9 0.9 0.8 1.2 1.5 0.6 1.4 OCTOBER 1.3 0.3 1.6 1.2 1.4 1.8 0.7 1.5 NOVEMBER 2.3 0.4 0.9 1.1 3.4 5.9 0.8 1.7 DECEMBER . 1.3 0.4 0.8 1.0 1.6 2.1 0.6 1.9 2.4 0.5 2.1 1.2 3.1 1.8 4.7 3.6 4.8 3.0 3.5 3.9 5.6 2.9 8.0 7.8 100.0 100.0 100.0 100.0 100.0 100.o 1973 JANUARY FEBRUARY OR LATER TOTAL * (MEMORANDUM: 100.0 100.0 TAX AND DIVIDEND MATURITIES) MARCH 10 1.9 4.2 1.6 3.6 1.2 0.6 1.3 2.1 MARCH 15 3.0 2.3 3.6 2.5 3.1 2.2 4.0 3.7 APRIL if 1.7 2.1 1.0 1.4 1.9 0.9 3.3 2.2 (MEMORANDUM: 254 2/ | N C L U O E S ^ C E R T I M C A T E S ^ I N ' D E N O M I N A T I O N S OF * TOTALS MAY NOT ADD DUE TO ROUNDING. 88 1 1 0 0 . 0 0 0 C« " O R E NUMBER OF BANKS) 81 48 37 I S S U E D BY M E E K L Y R E P O R T I N G R I N K S . 12 18 r * + + + TABLE 44 AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES (IN M O N T H S ) BANK CLASSIFICATION DATE OF SURVEY 23 FEB 1972 26 JAN 1972 29 DEC 1971 < BY LOCATION) ALL REPORTING BANKS 3.4 3.4 3.1 NEW YORK CITY 3.5 3.5 3.0 CHICAGO 3.2 3.4 3.2 OTHER 3.4 3.4 3.2 ISSUING CD'S (BY SIZE OF B A N K ) 2/ UNDER $200 MILLION 3.0 3.2 3.1 $200-4500 MILLION 3.0 3.1 2.9 $500-$1»000 MILLION 3.1 3.2 3.0 OVER $1 BILLION 3.6 3.6 3.2 PRIME IN NEW YORK CITY 3/ 3.6 3.6 3.1 PRIME OUTSIDE NEW YORK CITY 3/ 3.8 3.9 3.7 NON-PRIME 3.4 3.2 2.8 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1Z SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY BANK CLASSIFICATION 23 FEB 1972 26 JAN 1972 29 DEC 1971 (BY LOCATION) ALL REPORTING BANKS 3.1 3.7 2.9 NEW YORK CITY 3.6 4.5 3.1 CHICAGO 2.7 3.4 2.A OTHER 3.0 3.3 2.7 ISSUING CD'S (BY SIZE OF BANK) 2/ UNDER $200 MILLION 2.2 2.7 2.6 $200-$500 MILLION 2.7 3.0 2.5 $500-$!,000 MILLION 2.7 3.0 2.5 OVER Si BILLION 3.5 4.2 3.1 PRIME IN NEW YORK CITY 3/ 3.8 4.6 3.2 PRIME OUTSIDE NEW YORK CITY 3/ 3.4 3.6 3.3 NON-PRIME 3.2 3.9 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31* 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE—SEE TECHNICAL APPENDIX B. http://fraser.stlouisfed.org/ «U Federal Reserve Bank«ofLSt. Louis « TABLE 5 A 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) 23 FEB 1972 26 JAN 1972 29 DEC 1971 ALL BANKS ISSUING CD'S 12.9 12.8 12.6 UNDER 200 10.4 9.9 9.4 200 - 500 12.1 12.2 11.9 500 - 1000 12.1 12.0 11.5 OVER 1000 13.7 13.5 13.5 17.4 17.0 17.1 9.9 9.9 10.0 14.7 13.8 13.9 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3/ NONPRIME 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY 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 58 RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 23 FEB 1972 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CD TO DEPOSIT RATIO (PER CENT) ALL BANKS ISSUING CD'S 52 67 65 37 19 14 12.9 UNDER 200 23 27 21 7 4 6 10.4 200 - 500 18 23 14 13 7 6 12.1 500 - 1000 7 7 20 10 3 1 12.1 OVER 1000 4 10 10 7 1 13.7 PRIME IN NEW YORK 3/ 0 1 1 3 2 0 17.4 PRIME OUTSIDE NEW YORK 3/ 1 7 0 4 0 0 9.9 NONPRI ME 3 2 9 0 3 1 14.7 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 3t, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THF 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. V A TABLE 5C p E R CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 26 JAN 1972 TO 23 FEB 1972 (NUMBER OF BANKS) IN "E" ALL BANKS ISSUING UNDER 200 ^ 0 ^ ^ , 56 11 OVER 1000 0 PRIME IN NEW YORK 3/ 0 5 19 10 4 7 1 6 1 PRIME OUTSIDE NEW YORK 3/ 0 0 NONPRIME 0 3 * 3 3 3 0 0 0 ' U ° 3 55 6 0 0 3 " 2 . 19 11 5 11 8 41 H 20 500 - 1000 ISSUED CD'S BUT j , 9 1 ^f*ffL"! 2 5 3 0 ° 1 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/ — z\ci ARE* RE PORTED^ BY D^LIRS'TO^ AD! 5 i ? M r r s R \ ° L s i r i o i N : : % ^ : : c ^ o T H i R " w ; ^ i N % r s : c m n ^ Y ° : : R i ^ % KSJS ^ W L S S . ' S S O T - S S S ^ " . ' S . S ' S K . r """ TABLE 50 PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TINE CERTIFICATE OF DEPOSIT /I 24 NOV 1971 TO 23 FEB 1972 (NUMBER OF BANKS) TOTAL DEPOSITS Z2 CIN MILLIONS OF DOLLARS) REDUCED CD'S 25* TO OR ZERO MORE INCREASE OF DECLINES OF 10 TO 15% 15 TO 20% 20 TO 25% 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 25% OR MORE 20 TO 25% 15 TO 20% 10 TO 15% ISSUED CO 1 S BUT HAD NONE OUTSTANDING ON BASE DATE ALL BANKS ISSUING CD'S 1 14 11 15 15 21 25 8 20 31 26 16 8 42 2 UNDER 200 0 7 4 6 3 10 4 2 5 6 11 4 3 21 2 200 - 500 0 3 2 6 5 6 6 4 3 16 8 7 3 12 0 500 - 1000 1 1 2 2 3 2 8 2 9 5 3 5 1 5 0 OVER 1000 0 3 3 1 4 3 7 0 3 4 4 0 I 4 0 PRIME IN NEW YORK 3/ 0 0 1 0 1 0 1 0 1 2 1 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 0 i 0 I 2 0 3 0 1 I 3 0 0 0 0 NCNPRIME 0 2 2 0 1 3 3 0 I 1 0 0 I 4 0 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 311 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 RANKS THAT HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 26 JAN 1972 TO 23 FEB 1972 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ DECLINES OF (IN MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S 3% AND OVER ' 2 TO 3* 3 INCREASES OF I TO 2% 10 IS AND LESS 23 1 TO 2% 92 14 62 26 30 7 20 9 2 TO 3% 200 - 500 1 3 9 30 5 20 6 4 500 - 1000 1 3 3 20 2 9 6 3 OVER 1000 0 12 0 13 5 NONPRIME 2 0 / 4 1 1 0 0 0 1 0 1 2 0 5 0 7 0 AND OVER 15 1 PRIME OUTSIDE NEW YORK 3 7 I% AND LESS UNDER 200 PRIME IN NEW YORK 3/ 2 NO CHANGE 7 9 5 1 3 1 0 3 2 0 0 6 0 0 0 4 3 1 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY 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 24 NOV 1971 TO 23 FEB 1972 (NUMBER OF BANKS) (IN MILLIONS OF DOLLARS) INCREASES OF DECLINES OF TOTAL DEPOSITS 2/ 5% AND OVER 3 TO 4% 4 TO 5% 1 TO 2% 2 TO 3% 1% AND LESS NO CHANGE 1* AND UNDER 4 TO 5% 3 TO 4* 2 TO 3% I TO 2% 5% AND OVER ALL BANKS ISSUING CD'S 6 2 9 7 23 55 8 43 4R 15 9 12 15 UNDER 200 1 1 4 3 8 17 2 14 16 4 2 7 7 200 - 500 1 0 2 2 7 16 4 12 22 4 4 2 5 500 - 1000 0 0 2 2 2 13 2 11 5 6 2 2 1 OVER 1000 4 1 1 0 6 9 0 6 5 1 1 1 2 PRIME IN NEW YORK 3/ 1 0 1 0 0 1 0 I 3 0 0 0 0 PRIME OUTSIDE NEW YORK 3/ 1 0 0 0 3 3 0 4 1 0 0 0 0 NONPRI ME 2 1 0 0 3 5 0 I 1 1 I I 2 It INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THF 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. f TABLE 6A MATURJTY DISTRIBUTION OF OUTSTANDING NFGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 23 FEB 1972 (AMOUNTS IN MILLIONS OF DOLLARS# ST. LOUTS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 202.6 26.5 28.2 53.4 136.9 186.0 397. 1 1150.7 194.9 117.9 251.6 800.5 1389.2 154.5 174.6 627.7 88.2 82.8 144.1 313.8 879.8 211.8 101. 1 153.9 396.8 78.5 51.9 94.7 217.5 607.3 163.2 111.3 113.4 395.4 41.0 32.1 63.4 112.8 423.8 207.5 53.4 78.9 276.0 40.0 23.1 50.9 138.9 412.4 67.0 75.4 50.9 50.9 210.7 26.5 5.2 37.0 87.2 272.0 424.2 79.6 44.6 31.8 76.7 200.4 5.4 12.7 27.2 93.7 220.2 85.2 487.1 91.1 76.6 32. 1 22.0 112.6 12.0 20.7 28.9 57.8 208.0 647.8 47.4 292.7 68.1 30.0 30.1 17.1 48.6 4.6 3.5 19.7 30.0 56.0 DEC 867.7 41.8 426.3 88.8 26.9 16.3 19.8 52.1 5.3 11.0 24.0 44.1 111.3 1973 JAN 925.2 32.1 302.2 65.3 34.3 54.3 34. 1 58.6 28.0 18.9 8.9 89.7 198.8 FEB 391.3 6.6 77.4 42.8 15.8 8.5 12.6 21.7 2.9 2.9 21.0 66.3 112.8 MAR OR LATER 890.1 44.9 266.9 87.7 191.2 16.7 23.6 51.1 15.6 6.9 31.1 20.5 133.9 1712.9 13423.0 1575.3 2024.9 997.7 1252.6 3805.0 569.4 417.8 855.9 2209.7 5211.5 ALL DISTRICTS BOSTON 1706.4 91.1 MAR 10078.4 APR CD'S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 659.0 69.2 113.7 61.9 77.9 493. 7 4150.1 389.0 468.9 274.8 5490.2 312.6 2102.5 244.6 365.0 MAY 3708.4 266.8 1412.2 115.9 JUN 2 694.6 133.9 980.2 124.1 JUL 2385.2 86.5 975.5 42. 1 AUG 1787.0 37.5 866.7 SEP 1249.3 32.8 OCt 1234.1 NOV 1972 FEB 24—FEB 29 TOTAL * 3405 5.7 NEW YORK CHI — ' CAGO AVERAGE MATURITY IN.MONTHS 2/ 3.3 3.1 3.2 4.4 3.8 3.4 3.1 3.0 3.0 3.1 3.3 3. 1 3*6 NUMBER OF REPORTING BANKS 254 18 41 10 19 15 23 36 11 5 20 24 32 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 23 FEB 1972 (AMOUNTS IN MILLIONS OF DOLLARS) CD 1 S MATURING IN ALL DISTRICTS BOSTON 1972 MAR 3456.1 219.6 1197.9 146.6 164. 1 117.2 136.9 336.3 APR 1047.5 64.2 364.7 73.9 62.0 25.4 31.6 MAY 1349.4 98.0 501.5 33.8 47.9 27.1 JUN 324.8 25.0 148.5 23.8 12. 5 JUL 476.0 8.2 262.1 5.5 AUG 738.1 11.5 408.1 SEP 91.7 1.3 OCT 111.3 NOV SAN FRANCISCO MINNEAPOLIS KANSAS CITY 72. 5 23.2 81.7 411. 1 549.0 132.9 19.3 9.4 20.6 60.7 182.8 86.4 130.8 39.9 11.9 43.9 96.0 232.2 10.0 34. 1 13.8 2.7 1.9 8.1 14.6 29.8 17.7 6.8 9.9 49.4 2.6 6.8 12.6 16. 8 77.6 15.0 29.8 25.3 20.0 76.2 10. 1 1.5 10.8 39. 1 90.7 51.6 4.9 2.0 0.2 7.2 2.6 1.4 1.6 1.2 5.7 12.0 14.6 49.3 21.0 3.0 0.8 1.9 2. 1 0.1 9.5 2.3 2.1 4.6 199.9 9.9 140.7 22.6 2.3 2.4 0.4 7.3 1.1 0.8 2.4 5. 1 4.9 DEC 107.8 8.0 56.3 26.1 4. 8 1.3 0.7 1.5 0.7 0.0 0.6 6.7 1.1 1973 JAN 203.3 17.4 43.9 5.8 16.2 8.7 3.6 19.3 2.5 11.0 2.0 23.5 49.4 404.7 6.2 70.6 60.6 17.4 11.0 14.9 21.4 4.5 2.8 20.8 68.2 106.3 8510.6 483.9 3295.2 439.6 379.7 236.2 347.6 793.6 157.4 80.4 207.0 749.6 1340.4 3.1 2.5 3.2 4.3 2.9 2.8 2.7 2.6 2.3 4.3 3.2 2.9 3.1 FEB OR LATER TOTAL * AVERAGE MATURITY IN MONTHS 3/ NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES CNLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. DALLAS 4 TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT MEEKLY REPORTING IJANKS BY FEDERAL RESERVE DISTRICT AS OF 23 FEB 1972 (PERCENTAGE DISTRIBUTION) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 5.3 4.7 6.7 6.2 6.2 3.6 31.7 30.2 34.2 28.2 29.4 36.2 26.7 15.5 13.9 16.5 15.5 19.A 16.8 14.2 16.9 10.5 10.1 12.3 10.4 13.8 12.4 11.1 9. 8 11.7 7.9 8.1 11.2 9.1 10.4 7.2 7.7 7.4 5. 1 8.1 7.3 2.7 10.2 5.4 6.3 7.3 7.0 5.5 5.9 6.3 7.9 2.2 6.5 4.3 3.7 5.1 4. 1 5.5 4.7 1.2 4.3 3.9 5.2 3.7 1.9 3.2 5.1 2. 2 3.2 6.1 5.3 0.9 3.0 3.2 4. 2 4.2 OCT 3.6 5.0 3.6 5.8 3.8 3.2 1.8 3.0 2. 1 5.0 3.4 2.6 4.0 NOV 1.9 2.8 2.2 4.3 1.5 3.0 1.4 1.3 0.8 0.8 2.3 1.4 1.1 DEC 2.5 2.4 3.2 5.6 1.3 1.6 1.6 1.4 0.9 2.6 2.8 2.0 2.1 1973 JAN 2.7 1.9 2.3 4. 1 1.7 5.4 2.7 1.5 4.9 4.5 1.0 4. 1 3.8 FEB 1.1 0.4 0.6 2.7 0.8 0.9 1.0 0.6 0.5 0.7 2.5 3.0 2.2 MAR OR LATER 2.6 2.6 2.0 5.6 9.4 1.7 1.9 1.3 2.7 1.7 3.6 0.9 2.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 CD 1 S MATURING IN ALL DISTRICTS BOSTON 5.0 5.3 MAR 29.6 APR RICHMOND ATLANTA PHILADELPHIA CLEVELAND 4.9 4.4 5.6 6.2 6.2 28.8 30.9 24.7 23.2 27.5 16. 1 18.2 15.7 15.5 18.0 MAY 10.9 15.6 10.5 7.4 JUN 7.9 7.8 7.3 JUL 7.0 5.0 AUG 5.2 SEP 1972 FEB 24-FEB 2 9 TOTAL * NEW YORK CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 23 FEB 1972 (CUMULATIVE PERCENTAGE) MATURING IN FEB 24-•FEB 2f ALL DISTRICTS BOSTON 5.0 5.3 RICHMOND ATLANTA PHILADELPHIA CLEVELAND 4.9 4.4 5.6 6.2 6.2 NEW YORK ST. LOUIS MINNEAPOLIS KANSAS CITY 5.3 4.7 6.7 6.2 CHICAGO DALLAS 6. 2 SAN FRANCISCO 3.6 MAR 34.6 34. 1 35.8 29.1 28.8 33.7 37.9 35.5 38.9 34.9 35.6 42.4 30.3 APR 50.7 52.3 51.5 44.6 46.8 49.2 51.8 52.0 54.4 54.7 52.4 56.6 47.2 MAY 61.6 67.9 62.0 52.0 57.3 59.3 64.1 62.4 68.2 67.1 63.5 66.4 58.9 JUN 69.5 75.7 69.3 59.9 65.4 70.5 73.2 72.8 75.4 74. A 70.9 71. 5 67.0 JUL 76.5 80.7 76.6 62.6 75.6 75.9 79.5 80.1 82.4 80.3 76.8 77.8 74.9 AUG 81.7 82.9 83.1 66.9 79.3 81.0 83.6 85.6 87.1 81.5 81.1 81.7 80.1 SEP 85.4 84.8 86.3 72.0 81.5 84.2 89.7 - 90.9 88.0 84.5 84.3 85.9 84.3 OCT 89.0 89.8 89.9 77.8 85.3 87.4 91.5 93.9 90.1 89.5 87.7 88.5 88.3 NOV 90.9 92.6 92.1 82.1 86.8 90.4 92.9 95.2 90.9 90.3 90.0 89.9 89.4 DEC 93.4 95.0 95.3 87.7 88.1 92.0 94.5 96.6 91.8 92.9 92.R 91.9 91.5 JAN 96. 1 96.9 97.6 91.8 89.8 97.4 97.2 98.1 96.7 97.4 93.8 96. 0 95.3 FEB 97.2 97.3 98.2 94.5 90.6 98.3 98.2 98.7 97.2 98.1 96.3 99. 0 97.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MAR OR LATER 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. I 4 TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BT FEDERAL RESERVE DISTRICT AS OF 23 FEB 1972 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS BOSTON 1972 MAR 40.6 45.4 APR 12.3 MAY 15.9 JUN 3.8 JUL 1973 MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 46. 1 28.9 39.5 54.8 41 .0 16.7 12.3 11.7 10.0 8.1 13.6 24.9 16.5 25.3 14.8 21.2 12.8 17.3 4.2 9.8 1.7 1.7 2.4 3.9 1.9 2.2 4.7 2.9 2.8 6.2 1.7 8.5 6.1 2.2 5.8 3.4 7.8 10.7 5.8 9.6 6.4 1.9 5.2 5.2 6.8 1.6 1.1 0.5 0.1 2.1 0.3 0.9 2.0 0.6 0.8 0.9 3.0 1.5 4.8 0.8 . 0.3 0.5 0.3 0.1 11.8 1.1 0.3 0.3 2.3 2.0 4.3 5.1 0.6 1.0 0.1 0.9 0.7 1.0 1.2 0.7 0.4 DEC 1.3 1.7 1.7 5.9 1.3 0.6 0.2 0.2 0.4 0.0 0.3 0.9 O.t JAN 2.4 3.6 1.3 1.3 4.3 3.7 1.0 2.4 1.6 13.7 1.0 3.1 3.7 F E B OR LATER 4.8 1.3 2.1 13.8 4.6 4.7 4.3 2.7 2.9 3.5 10.0 9.1 7.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 36.4 33.3 43.2 49.6 39.4 42.4 13.3 11.1 16.8 16.3 10.8 9.1 20.3 15.2 7.7 12.6 11.5 5.2 4.5 5.4 3.3 5.6 1.7 . 8.0 1.3 AUG* 8.7 2.4 12.4 SEP 1.1 0.3 OCT 1.3 NOV TOTAL * . NEW YORK RICHMOND ATLANTA CHICAGO ST. LOUIS 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD's maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month--after the survey 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'e mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce comparibility between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold aO 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.
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