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March 27, 1974 . 7* Research Luji<n/ L.4.1 CONFIDENTIAL (FR) — SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS as of February 28, 1974 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 1974 FEBRUARY 1975 NEGOTIABLF REPORTING OF AMOUNT ( M I L L I O N S OF DOLLARS) IN 28 27 FEB TIME CERTIFICATES OF DEPOSIT AT RANKS 1974 PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE P R E V I O U S MONTH 2/ (MILLIONS OF D O L L A R S ) 1.997.1 3,0 3.0 .0 MARCH 26.427.4 43,2 46.2 10,185.0 APRIL 16.249.1 24.7 70.9 6,494.5 MAY 6.729.1 10.? 81.1 3,755.9 JUNFC 3.846.9 5.9 87.0 1,511.4 JULY 2,451.2 3.7 90.7 530.7 AUGUST 1,887.3 2.9 93.6 868.1 SEPTEMBER 639.6 1.0 94.6 59.7 OCTOBER 554.2 «A 95.4 79.3 NOVEMBER 339.4 •5 95.9 102.8 DECEMBER 472.9 .7 96.6 51.1 JANUARY 470.4 .7 97.3 107.1 FEBRUARY 408.1 E6 97.9 431.3 1,281.5 1.9 100.0 XXX 65.754,2 100.0 XXX 24,176.9 OVER 12 MONTHS TOTAL (MEMORANDUM: MARCH MARCH APRIL 11 15 15 1/ INCLUDES 2/ SEE 3/ SALES 1,968.5 2.923.4 1,897,5 ONLY TECHNICAL OF TAX CD'S CERTIFICATES IN APPENDIX A. MATURING AFTER DENOMINATIONS 11 MONTHS. AND DIVIDEND MATURITIES) 3.0 4.4 2.9 OF $100,000 OR 785.0 675.0 883.6 XXX XXX XXX MORE ISSUED BY WEFKLY REPORTING BANKS. 3/ TABLE 26 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 27 FEB 1974 (IN MILLIONS OF DOLLARS) NEW YORK CITY ALL OTHER WEEKLY REPORTING BANKS CHICAGO CD'S MATURING IN AMOUNT 1974 FEB 28 439.5 .0 306.5 .0 1,251.1 MARCH 8,921,1 2,894.6 2,513.0 843.4 16,993.2 6,446.9 APRIL 4,774.6 1,626.0 2,276.3 829.9 9,198.1 4,038.6 MAY 2,567.A 1,515.9 553.1 324.5 3,608.3 1,915.7 JUNE 1,626.9 697.3 209.6 108.0 2,010.1 705.8 JULY 969.3 348.0 104.0 20.4 1,377.9 162.2 AUGUST 631.3 349.5 121.8 38.4 1,134.2 480.3 SEPTEMBER 110.0 1.9 41.0 18.0 488.6 39.8 OCTOBER 47.3 6.9 4P.P .0 458.1 72.4 NOVEMBER 37.4 7.9 17.5 2.0 284.4 92.9 DECEMBER 118.1 3.5 23.1 .1 331.7 47.4 22.5 2.6 25.5 3.1 422.4 101.4 3.2 /3 397.9 422.2 /3 1975 JANUARY FEBRUARY 7.2 OVER 12 MONTHS TOTAL » SALES SINCE PREVIOUS MONTH 2/ AMOUNT 5.8 /3 2.9 SALES SINCE PREVIOUS MONTH 2/ AMOUNT SALES SINCE PREVIOUS MONTH 2/ •0 89.1 xxx 59.5 XXX 1,132.9 XXX 20,362.1 7,459.9 6,302.6 2.191.0 39,088.9 14,525.6 NUMBER OF REPORTING BANKS 12 (MEMORANDUM: MARCH 11 MARCH 15 APRIL 15 650.4 826.1 688.3 239 11 253.6 184.0 260.9 > TAX AND DIVIDEND MATURITIES) 153.0 348.6 363.8 72.8 64.8 174.1 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATION OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER l1 MONTHS. * TOTALS MAY NOT ADD DUE TO ROUNDING. 1,165.1 1,748.8 845.3 458.6 426.2 448.5 TABLE 28 1/ MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO, AS OF 27 NEGOTIABLE AND FEB ALL 1974 (PERCENTAGE NEW CD'S MATURING DAYS 30 WEEKLY JAN REPORTING OF DEPOSIT BANKS 1974 DISTRIBUTION) CHICAGO CITY 2/ 30 FEB 27 JAN AT ALL OTHER FEB 30 27 JAN 30 FEB JAN 2.2 3.1 4.9 7.6 3.2 3.4 43.8 38.6 39.9 34.1 43.5 36.9 01 MONTHS 02 MONTHS 23.4 28.2 36.1 25.6 23.5 27.0 03 MONTHS 12.6 14.8 8.8 22.2 9.2 13.2 04 MONTHS 8.0 4.9 3.3 3.5 5.1 4.3 05 MONTHS 4.8 4.4 1.7 1.6 3.5 3.3 06 MONTHS 3.1 2.9 1.9 1.3 2.9 3.1 07 MONTHS .5 1.3 .7 1.3 1.2 1.7 08 MONTHS .2 .5 .8 .4 1.2 1.1 09 MONTHS .2 .2 .3 .7 .7 1.0 10 MONTHS •6 .1 .4 .2 .8 .5 11 MONTHS .1 .5 .4 .4 1.1 .7 12 MONTHS .0 .1 .0 .3 1.0 .8 .4 .4 .9 .9 2.9 2.8 100.0 100,0 100.0 100.0 100.0 100.0 OF OR OVER 12 TOTAL 1/ AND CERTIFICATES IN 27 o-6 YORK OTHER TIME 3/ MONTHS * INCLUDES ONLY CERTIFICATES IN DENOMINATIONS $100,000 MORE ISSUED BY WEEKLY REPORTING BANKS. ?/ 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 THE M O N T H . 3/ NUMBER MONTHS * TOTALS OF MAY NOT ADD FOLLOWING DUE TO THE SURVEY ROUNDING. MONTH. PERIOD VARIES WITH THE NUMBER OF DAYS 2C 1/ MATURITY DISTRIBUTION NEW YORK OF OUTSTANDING CITY, CHICAGO. AS OF 27 NEGOTIABLE AND FEB ALL 1974 (CUMULATIVE NEW CD'S MATURING YORK OTHER AND 30 TIME CERTIFICATES WEEKLY JAN REPORTING OF DEPOSIT AT BANKS 1974 DISTRIBUTION) CITY ALL CHICAGO OTHER IN 27 FEB 30 JAN 27 FEB 30 27 JAN FEB 30 JAN 1 1 1 <0 1 O TABLE DAYS 2/ 3.1 4.9 7.6 3.2 3.4 46.0 41.7 44.8 41.7 46.7 40.3 01 MONTHS 02 MONTHS 69.4 69.9 80.9 67.3 70.2 67.3 03 MONTHS 82.0 84.7 89.7 89.5 79.4 80.5 04 MONTHS 90.0 89.6 93.0 93.0 84.5 84.8 05 MONTHS 94.8 94.0 94.7 94.6 88.0 88.1 06 MONTHS 97.9 96.9 96.6 95.9 90.9 91.2 07 MONTHS 98.4 98.2 97.3 97.2 92.1 92.9 08 MONTHS 98.6 98.7 98.1 97.6 93.3 94.0 09 MONTHS 98.8 98.9 98.4 98.3 94.0 95.0 10 MONTHS 99.4 99.0 98.8 98.5 94.8 95.5 11 MONTHS 99.5 99.5 99.2 98.9 95.9 96.2 12 MONTHS 99.5 99.6 99.2 99.2 96.9 97.0 100.0 100.0 100.0 100.0 100.0 100.0 OF OR OVER 12 3/ 2.2 MONTHS 1/ INCLUDES 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 THE LAST W E D N E S D A Y OF THE M O N T H . 3/ NUMBER MONTHS OF ONLY CERTIFICATES FOLLOWING IN THE DENOMINATIONS SURVEY MONTH. $100,000 PERIOD MORE VARIES ISSUED WITH THE BY WEEKLY 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 TIME C E R T I F I C A T E 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 2 / AS OF 27 FEB 1974 ( 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 ) OF DEPOSIT $1 $200 CD'S MATURING 1974 1975 IN TOTAL $200 MILLION AND UNDER $500 MILLION TO MILLION *500 $1 1/ BILLION AND PRIME MILLION TO BTLLION OVER 3/ OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY TOTAL 1,997.0 113.1 275.3 316.0 1,292.6 404.6 636.8 251.2 MARCH 28,427.3 1,702.4 3,965.4 4,670.7 18,088.8 8,362.9 6,668.1 3,057.8 APRIL 16,249.0 886.4 2,155.2 2,561.6 10.645.8 4,608.4 4,455.0 1,582.4 MAY 6,729.1 391.9 894.8 1,086.1 4,356.3 2,499.5 1,258.0 598.8 JUNE 3,846.8 185.3 410.6 467.7 2,763.2 1,596.0 796.8 370.4 JULY 2,451.2 127.9 311.9 266.2 1,745.2 923.2 547.2 274.8 AUGUST 1,887.3 114.0 186.2 194.6 1,392.5 620.4 627.3 144.8 SEPTEMBER 639.7 50.9 89.0 81.9 417.9 93.1 280.1 44.7 OCTOBER 554.2 32.7 68.3 111.6 341.6 41.0 217.6 83.0 NOVEMBER 339.3 29.5 65.7 57.6 186.5 33.7 97.6 55.2 DECEMBER 472.S 40.9 56.2 93.3 282.4 115.6 70.4 96.4 JANUARY 470.3 36.8 57.0 89.4 287.1 9.1 170.3 107.7 FEBRUARY 408.1 25.3 70.6 48.7 263.5 6.5 200.2 56.8 1,281.3 119.3 128.0 294.8 739.2 54.9 501.8 182.5 65,753.4 3,856.4 8,734.2 10,360.2 42.802.6 19,368.9 16,527.2 6,906.5 FEB 28 MARCH OR L A T E R TOTAL * AND DIVIDEND MATURITIES) — MARCH 11 1,968.4 106,2 283.0 350.9 1,228.3 604.6 455.6 167.9 MARCH 15 2,923.3 135.9 276.9 407.4 2,103.1 759.4 967.1 376.6 APRIL 15 1,897.6 84.1 178.5 250.3 1,384.7 669.3 522.0 193.4 51 37 12 18 (MEMORANDUM: 26? 1/ 2/ 3/ B9 85 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 O F $ 1 0 0 , 0 0 0 OR M O R E I S S U F D BY W E E K L Y R E P O R T I N G B A N K S . T O T A L D E P O S I T S A S R E P O R T E D IN T H E C A L L R E P O R T O F C O N D I T I O N O N D E C E M B E R 3 1 , 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 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 R E P O R T E D B Y 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 . FRASER « T O T A L S M A Y N O T ADO D U E TO R O U N D I N G . Digitized for 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 27 FEB 1974 (AMOUNTS IN MILLIONS OF DOLLARS) TABLE 38 $1 BILLION AND OVER — — — — — — — — CD'S MATURING IN 1974 $200 MILLION AND UNDER $500 MILLION TO MILLION $500 $1 PRIME MILLION TO BILLION TOTAL 4/ OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 28 MARCH 10,185.0 782.7 1,590.3 1,634.6 6.177.4 2,792.6 2,330.8 1,054.0 APRIL 6,494.5 407.1 901.5 1,204.1 3.981.8 1,542.3 1,709.3 730.2 MAY 3,755.9 234.9 512.3 590.4 2.418.3 1,474.6 591.9 351.8 JUNE 1,511.4 52.4 153.1 216.4 1.089.5 678.1 228,8 182.6 JULY 530.5 10.4 55.8 513.8 305.7 111.2 96.9 AUGUST 868,2 59.9 98.0 598.8 347.0 190.1 61.7 SEPTEMBER 59.9 2.3 11.7 12.2 33.7 1.8 26.2 5.7 OCTOBER 79.2 2.3 12.7 8.9 55.3 5.9 34.4 15.0 4.0 21.1 7.9 45.9 16.1 49.5111.5 102.8 CD 7.8 DECEMBER 51.0 4.5 4.9 5.5 36.1 3.6 11.0 21.5 JANUARY 107.2 3.7 5.5 27.3 70.7 1.7 49.0 20.0 FEBRUARY OR L A T E R 431.2 18.7 75.6 32.4 304.5 5.1 222.3 77.1 24,176,8 1,582.9 3,442.5 3,801.7 15.349.7 7,166.2 5»550.9 2,632.6 TOTAL * — (MEMORANDUM: TAX AND DIVIDEND O* NOVEMBER * 1975 FEB $200 TOTAL MATURITIES) MARCH 11 785,0 59.7 106.9 122.7 495.7 243.6 200.1 52.0 MARCH 15 674,9 60.8 107.0 106.8 400.3 177.7 128.1 94.5 APRIL 15 883.9 44.0 75.2 150.7 614.0 249.2 256.3 106.5 12 18 NUMBER (MEMORANDUM! 26? 89 85 OF BANKS) 51 — — — — • » • • 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 A S 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 , 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 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 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 . « T O T A L S M A Y N O T A D O D U E TO R O U N D I N G . • • 7 QUALITY AND WHICH ARE TABLE MATURITY 3C 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 AT W E E K L Y R E P O R T I N G B A N K S FY S I Z E O F B A N K S 2 / A S O F 2 7 F E B 1074 PERCENTAGE DISTRIBUTION OF DEPOSIT $1 MATURING $200 MILLION AND UNDER $200 $500 $500 MILLION TO MILLION $1 MILLION TO BILLION OVER 3/ - - - - - - - - - - NEW YORK CITY OUTSIDE NEW YORK CITY TOTAL NON-PRIME 2.1 3.9 3.6 43.2 40.3 44.3 P4.9 23.8 27.0 22.9 10.2 12.9 7.6 8.7 4.7 6.5 8.2 4.8 5.4 3.6 ? •6 4.1 4.8 3.3 4.0 3.0 2.1 1.9 3.3 3.2 3.8 2.1 1.0 1.3 1.0 0.8 1.0 0.5 1.7 0.6 OCTOBER 0.8 0.8 0.8 1.1 0.8 0.2 1.3 1.2 NOVEMBER 0.5 0.8 0.8 0.6 0.4 0.2 0.6 0.8 DECEMBER 0.7 1.1 0.6 0.9 0.7 0.6 0.4 1.4 JANUARY 0.7 1.0 0.7 0.9 0.7 0.0 1.0 1.6 FEBRUARY 0.6 0.7 0.8 0.5 0.6 0.0 1.2 0.8 MARCH OR L A T E R 1.9 3.1 1.5 2.8 1.7 0.3 3.0 2.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 3.0 2.9 3.2 3.1 MARCH 43.2 44.1 45.4 45.1 APRIL 24.7 23.0 24.7 24.7 MAY 10.2 10.2 10.2 10.5 . JUNE 5.9 4.8 4.7 JULY 3.7 3.3 AUGUST 2.9 SEPTEMBER FEB TOTAL 28 * Mn UnrX/rnFMn I V 1 UC.INU AI N U A 3.0 M A T1 II MI P TTTCQ* L 1 J , T 3 ) MA MARCH 1 1 3.0 2.8 3.? 3.4 2.9 3.1 2.8 2.4 MARCH 15 4.4 3.5 3.2 3.9 4.9 3.9 5.9 5.5 APRIL 15 2.9 2.2 2.0 2.4 3.2 3.5 3.2 2.8 1/ 2/ 3/ E PRIME (VI 4 1975 TOTAL AND M 1974 IN BILLION I I I I I I I I I I I I I I CD'S 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 O R M O R E I S S U E D B Y W E E K L Y R E P O R T I N G B A N K S . T O T A L D E P O S I T S A S R E P O R T E D IN T H E C A L L R E P O R T O F C O N D I T I O N O N D E C E M B E R 3 1 . 1 9 6 5 . P R I M E R 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 O F 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 ? 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 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 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 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 27 FEB 1974 CUMULATIVE PERCENTAGE OF DEPOSIT $1 CD'S 1974 1975 MATURING IN $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $500 $1 MILLION TO BILLION BILLION AND PRIME OVER 3/ - - - - - - - - - - TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 3.0 2.9 3.2 3.1 3.0 2.1 3.9 3.6 MARCH 46.2 47.0 48.6 48.2 45.3 45.3 44.2 47.9 APRIL 70.9 70.0 73.3 72.9 70.2 69.1 71.2 70.8 MAY 81.1 80.2 83.5 83.4 AO.4 82.0 78.8 79.5 JUNE 87.0 85.0 88.2 88.1 „ 86.9 90.2 83.6 84.9 JULY 90.7 88.3 91.8 90.7 01.0 95.0 86.9 88.9 AUGUST 93.6 91.3 93.9 92.6 94.3 98.2 90.7 91.0 SEPTEMBER 94.6 92.6 94.9 93.4 95.3 98.7 92.4 91.6 OCTOBER 95.4 93.4 95.7 94.5 96.1 98.9 93.7 92.8 NOVEMBER 95.9 94.2 96.5 95.1 96.5 99.1 94.3 93.6 DECEMBER 96.6 95.3 97.1 96.0 97.2 99.7 94.7 95.0 JANUARY 97.3 96.3 97.8 96.9 97.9 99.7 95.7 96.6 FEBRUARY 97.9 97.0 98.6 97.4 98.5 99.7 96.9 97.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 FEB 28 MARCH OR L A T E R 1/ 2/ 3/ TOTAL 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 O F $ 1 0 0 , 0 0 0 O R M O R E I S S U E D B Y W E E K L Y R E P O R T I N G B A N K S . T O T A L D E P O S I T S A S R E P O R T E D IN T H E C A L L R E P O R T O F C O N D I T I O N O N D E C E M B E R 3 1 , 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 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 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 . QUALITY AND WHICH ARE t TABLE 3E SALES /I/ 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 F 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 OF 27 FEB 1974 PERCENTAGE DISTRIBUTION MONTH $1 CD'S MATURING 1974 1975 FEB IN $200 MILLION AND UNDER TOTAL $200 $500 MILLION TO MILLION $500 $1 MILLION TO BILLION 2/ BILLION AND PRIME TOTAL OVER 4/ NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 28 MARCH 42.1 49.4 46.2 43.0 40.2 39.0 42.0 40.0 APRIL 26.9 25.7 26.2 31.7 25.9 21.5 30.8 27.7 MAY 15.5 14.8 14.9 15.5 15.8 20.6 10.7 13.4 JUNE 6.3 3.3 4.4 5.7 7.1 9.5 4.1 6.9 JULY 2.2 0.7 1.6 1.3- 3.3 4.3 2.0 3.7 AUGUST 3.6 3.8 2.8 2.9 3.9 4.8 3.4 2.3 SEPTEMBER 0.2 0.1 0.3 0.3 0.2 0.0 0.5 0.2 OCTOBER 0.3 0.1 0.4 0.2 0.4 0.1 0.6 0.6 NOVEMBER 0.4 0.3 0.6 0.2 0.5 0.1 0.8 0.6 DECEMBER 0.2 0.3 0.1 0.1 0.2 0.1 0.2' 0.8 JANUARY 0.4 0.2 0.2 0.7 0.5 0.0 0.9 0.8 FEBRUARY OR L A T E R 1.8 1.2 2.2 0.9 2.0 0.1 4.0 2.9 100.0 100.0 100.0 100.0 100.0 TOTAL * 100.0 100.0 •— 100.0 MHO A KlHI llut • T * V « Kin r\ t 1/ t r>C" klnt ii.TiintT.rri MARCH 11 3.2 3.8 3.1 3.2 3.2 3.4 3.6 2.0 MARCH 15 2.8 3.8 3.1 2.8 2.6 2.5 2.3 3.6 APRIL 15 3.7 2.8 2.2 4.0 4.0 3.5 4.6 4.1 (MEMORANDUM: 262 1/ SEE TECHNICAL APPENDIX 89 85 51 12 37 18 A. 2/ 3/ 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 O F $ 1 0 0 * 0 0 0 O R M O R E I S S U E D B Y W E E K L Y R E P O R T I N G B A N K S . T O T A L D E P O S I T S A S R E P O R T E D IN T H E C A L L R E P O R T O F C O N D I T I O N O N D E C E M B E R 3 1 # 1 9 6 5 . 4 / A 5? 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 F 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 R E P O R T E D B Y 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 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 . FRASER « T O T A L S M A Y NOT ADD D U E TO R O U N D I N G . Digitized for QUALITY AND WHICH ARE TABLE AVERAGE 46 MATURITY OF OUTSTANDING NEGOTIABLE AT TIME WEEKLY AT CERTIFICATES REPORTING VARIOUS (IN SURVEY CLASSIFICATION DATES MONTHS) FEB 30 1974 (BY REPORTING SURVEY JAN 26 1974 DEC 1973 LOCATION) BANKS 2.1 2.1 1.8 1.8 2.0 CHICAGO 1.6 1.8 1.6 OTHER 2.2 ? .3 2.3 NEW YORK CD'S CITY (BY $200-3500 MILLION MILLION $500-51.000 OVER $1 MILLION BILLION PRIMF IN NEW PRIMF OUTSIDE YORK CITY 3/ NEW YORK CITY 3/ NON-PRIMF 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE ARE R E P O R T E D RY IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E i OF $100,000 REPORT OF OR OF BANK) 2/ 2.2 2.4 2.3 1.9 2.0 2.0 2.2 2.1 CVI $200 SIZE CVJ UNDER OF 2.0 ISSUING AS 1/ — 27 ALL DEPOSIT BANKS DATE SANK OF 2.0 2.1 1.8 1 .8 2.0 2.3 2.3 2.3 2.2 2.1 2.0 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 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 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 . TABLE 46 AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY 27 FEB 1974 30 JAN 1974 2A DEC 1973 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 1.9 1.8 1.9 NEW YORK CITY 1.9 1.6 2.1 CHICAGO 1.6 1.9 1.6 OTHER 2.0 1.8 1.8 (BY SIZE OF B A N K ) 2 / UNDER $*00 MILLION 1.6 1.8 1.7 $200-$500 MILLION 1.8 1.7 1.8 $500-$l•000 MILLION 1.7 1 .8 1.7 OVER $1 BILLION 2.0 1.7 1.9 PRIMP IN NEW YORK CITY 3/ 1.9 1 .6 2.1 PRIME OUTSIDE NEW YORK CITY 3/ 2.1 1.8 1.7 NON-PRIME 2.1 2.0 1.9 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. N O T E — S E E TECHNICAL APPENDIX B. T A B L E TIFL RATIO OF OUTSTANDING NEGOTIABLE TO AT TOTAL VARIOUS (PER TIMF CERTIFICATES TOTAL DEPOSITS 2/ M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S 27 FEB ISSUING SURVEY DATES CENT) 1974 30 OF JAN SURVEY 1974 26 DEC 1973 20.1 20.3 19.6 200 14.7 14.4 13.4 200 - 500 18.3 19.3 16.6 500 - 1000 18.1 18.0 17.3 21.9 22.3 21.9 25.7 26.4 27.5 19.8 20.0 19.3 18.7 19.0 17.2 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIMF 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ABE THOSE A R E R E P O R T E D BY 1/ UNDER OVER NOTE- DEPOSIT DEPOSITS DATE (IN OF CERTIFICATES AS IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E 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 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 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 . D E P O S I T S IN T H E D E N O M I N A T O R O F T H E R A T I O INTERBANK AND U . S . G O V E R N M E N T D E P O S I T S . IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS. INCLUDING TABLE RATIO OF OUTSTANDING NEGOTIABLE (IN ALL DEPOSITS MILLIONS BANKS CD'S OF DOLLARS) CERTIFICATES TOTAL DEPOSITS AS OF FEB 5 TO 10% 5% OR LESS 2/ TIME TO 27 (NUMBER TOTAL SB OF OF DEPOSIT 1/ 1974 BANKS) 15 TO 20% 10 TO 15% A V E R A G E CD TO D E P O S I T R A T I O (PER C E N T ) 25% OR MORE 20 TO 25% ISSUING 37 25 45 50 54 51 20.1 UNDER 200 13 13 21 17 15 10 14.7 200 - 500 17 3 13 15 17 20 18.3 500 - 1000 6 6 4 11 13 11 18.1 1 3 7 7 9 10 21.9 0 0 0 1 3 3 25.7 0 0 4 2 2 4 19.8 1 3 3 4 4 3 18.7 OVER 1000 PR IMF IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPQIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS APE THOSE A R E R E P O R T E D BY NOTE- CERTIFICATES AS IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E OF $100,000 REPORT OF OR MORE CONDITION ISSUED ON EY 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 . D E P O S I T S IN T H E D E N O M I N A T O R O F T H E R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING TABLE 5C PEP CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 30 JAN 1974 TO 27 FEB 1974 (NUMBER OF BANKS) DECLINES TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S DOLLARS) 1 0 % OR MORE INCREASES OF 5 TO 10% ISSUING 5 % OR LESS NO CHANGE 5 % OR LESS OF 1 0 % OR MORE 5 TO 10% ISSUED CD'S BUT HAD NONE OUTSTANDING ON B A S E D A T E 1 29 32 48 1? 52 32 55 2 200 0 7 8 14 7 16 11 25 1 - 500 1 9 10 13 3 17 13 19 1 UNDER 200 OF REDUCED C D ' S TO ZERO 2/ > 500 - OVER 1000 1000 PRIME IN PRIME OUTSIDE NONPRIME NEW YORK NEW 3/ YORK 3/ 0 5 7 11 2 13 4 9 0 0 8 7 10 0 6 4 2 0 0 1 3 3 0 0 O 0 0 0 2 1 4 0 3 2 0 0 0 5 3 3 0 3 2 2, 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF SlOOtOOO 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- THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. TABLE PER CENT CHANGE IN OUTSTANDING 28 NOV NEGOTIABLE 1973 TO (NUMBER TOTAL (IN ALL DEPOSITS MILLIONS BANKS OF /2 REDUCED — — — — — — CD'S 25% 20 TO OR TO 25% ZERO MORE DOLLARS) DECLINES 15 TO 20% 50 OF 27 TIME FER CERTIFICATE OF /I 1974 BANKS) OF 10 TO 15% DEPOSIT INCREASE 5 TO 10% 5% OP LESS NO CHANGE 5* OR LESS 5 TO 10% 10 TO 15% OF 20 TO 25% 15 TO 20% 25% OR MORE ISSUED CD'S BUT HAD NONE OUTSTANDING ON B A S E D A T E ISSUING CD'S 1 20 2 6 10 18 31 6 23 35 33 23 10 44 1 200 0 7 1 1 4 3 8 4 8 14 10 8 1 19 1 200 - 500 1 4 1 2 3 7 6 1 5 7 17 10 5 17 0 500 - 0 7 0 2 1 5 8 1 4 8 2 4 4 5 0 0 2 0 1 2 3 9 0 6 6 4 1 0 3 0 0 0 0 0 1 2 2 0 2 0 0 0 0 0 0 0 1 0 1 0 0 4 0 0 3 2 0 0 1 0 0 1 0 0 1 1 3 0 4 3 2 1 0 2 0 UNDER OVER 1000 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIMF 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 DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E T H E N U M B E R O F B & 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 T H E O U T S T A N D I N G S TO Z E R O . 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 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 A N D 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 . 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 T H R E E M O N T H S P R I O R TO T H E OTHER T A B L E S TO CURRENT SURVEY, THE EXTENT THAT REDUCED THEIR 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 OF THE PERIOD 30 JAN 1974 TO 27 FER 1974 (NUMBER OF RANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S DECLINES OF 3% AND OVER INCREASES OF 1 2 TO 3% 1% AND LESS TO 2% NO CHANGE 1% AND LESS 1 3% AND OVER 2 TO 3% TO 2% 12 10 27 60 12 64 40 20 15 UNDER 200 2 0 5 22 7 19 18 8 7 200 - 500 5 4 9 14 3 22 16 6 5 500 - 1000 2 2 7 12 2 15 4 OVER 1000 3 4 6 12 0 8 2 2 0 0 0 0 0 3 1 1 0 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3 NONPRIME 1 / 1 2 0 2 1 2 3 2 2 0 4 0 5 0 5 1 4 3 1 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED PY 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 RASIS 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 OVER IN OUTSTANDING THE LAST NEGOTIABLE THREE AT MONTHS THE 28 AS NOV 1973 TO (IN ALL DEPOSITS MILLIONS BANKS CD'S OF DECLINES 2/ 5* AND OVER DOLLARS) 3 TO 4% 4 TO 5% CERTIFICATES A PER BEGINNING (NUMBER TOTAL TIME OF 27 OF CENT THE OF OF TOTAL DEPOSIT 1/ DEPOSITS PERIOD FEA 1974 BANKS) INCREASES OF ISSUING 1* AND LESS 1 TO • 2% 2 TO 3% 10 19 40 1% NO CHANGE 2% 596 AND OVER 4 TO 5% 3 TO 4% 2 TO 3% 1 TO AND UNDEP OF 42 38 27 23 15 24 UNDER 200 0 2 0 2 7 13 4 13 16 9 8 3 11 200 - 500 3 1 2 2 4 9 1 16 9 11 10 9 7 500 - 1000 \ 1 3 5 4 9 1 7 7 3 3 2 5 1 0 2 1 4 9 0 6 6 4 2 1 1 0 0 1 0 2 2 0 2 0 0 0 0 0 1 0 1 0 2 2 0 1 2 1 1 1 0 0 0 0 1 0 5 0 3 4 3 1 0 1 OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS APE THOSE ARE R E P O R T E D BY NOTE- CERTIFICATES AS IN DENOMINATIONS REPORTED IN THE CALL WHOSE NEGOTIABLE D E A L E R S TO T R A D E 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 APE R E G A R D E D A S B E I N G OF T H E W I D 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 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 O F T H E R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS. INCLUDING 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 (AMOUNTS CD's 1974 1975 6A OF IN 27 FEB MILLIONS CERTIFICATES OF DEPOSIT 1/ 1974 OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 376.5 13.9 34.2 38.9 148.3 415.2 1139.4 3913.1 441.4 342.8 666.7 1528.8 4817.1 560.9 711.8 3092.6 211.2 203.5 327.7 860.2 2515.9 372.1 251.0 298.8 877.3 64.0 73.3 183.9 345.3 816.3 100.6 175.4 110.9 143.5 384.2 27.8 30.2 72.1 166.8 558.4 1017.8 23.4 172.5 69.0 162.8 203.3 22.0 15.1 72.5 194.2 412.0 126.0 678.2 37.2 150.8 34.2 86.4 164.6 25.2 6.1 53.5 102.6 422.6 639.5 134.5 132.7 5.5 28.1 18.0 40.1 58.7 2.2 5.3 23.9 35.5 155.0 OCT 554.2 101.2 56.0 6.9 25.9 7.5 33.9 71.0 9.5 8.5 23.6 26.5 183.7 NOV 339.5 29.1 48.8 3.0 20.6 12.3 25.4 35.5 5.0 4.1 14.9 16.3 124.5 DEC 472.9 27.4 161.3 13.8 13.9 13.7 22.8 53.7 7.2 1.0 27.8 19.5 110.8 JAN 470.3 33.1 29.4 2.8 23.8 12.2 17.5 53.7 12.0 18.1 21.5 23.8 222.4 FEB 407.9 10.7 10.5 6.0 41.8 5.9 31.2 15.5 5.7 5.2 11.6 15.9 247.9 1281.4 54.8 112.6 74.6 460.1 28.7 69.8 94.9 58.5 7.1 25.0 136.6 158.7 65753.4 3572.6 23625.1 2428.0 3766.3 2114.7 2847.6 9394.6 905.6 754.5 1563.6 3620.3 11160.5 MATURING IN ALL DISTRICTS BOSTON 1997.0 73.6 MAR 28427.3 APR PHILADELPHIA CLEVELAND RICHMOND ATLANTA 542.0 104.4 107.5 78.3 64.2 1366.5 10721.4 1202.5 1375.5 912.1 16249.2 924.6 5432.8 609.7 798.3 MAY 6729.1 338.2 2871.3 237.6 JUN 3846.5 266.3 1810.3 JUL 2451.2 86.6 AUG 1887.4 SEP FEB MAR TOTAL 28 OR LATER * NEW YORK CHICAGO --------- - - - - - - - - — — — — — — — — AVERAGE MATURITY IN M O N T H S 2 / 2.0 2.3 1.7 1.7 3.2 1.8 2.3 1.6 2.4 1.8 2.3 2.1 2.3 NUMBER BANKS 262 19 41 9 23 18 24 36 11 5 19 25 32 OF REPORTING 1/ INCLUDES 2/ SEE * ONLY TECHNICAL DETAILS MAY NOT CERTIFICATES ISSUED APPENDIX . ADD TO B. TOTALS DUE IN TO DENOMINATIONS ROUNDING. OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 1/ SALES OF NEGOTIABLE TIME BY (AMOUNTS 1974 1975 MATURING IN 27 FEB PREVIOUS MONTH 1974 MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 423.7 1325.P 170.3 151.7 228.9 622.8 1824.1 215.4 249.7 1277.9 107.8 72.6 147.3 380.9 1069.0 157.4 130.3 154.4 497.7 33.1 46.4 86.2 217.4 376.4 75.2 90.9 63.0 50.7 177.S 13.9 18.1 12.8 34.8 108.9 368.5 5.2 40.6 90.8 20.9 56.0 0.8 9.2 10.8 45.8 54.3 23.6 386.6 20.7 87.0 19.7 43.2 67.7 11.9 2.5 33.7 66.2 105.5 59.7 6.8 3.3 0.0 3.8 1 .8 9.1 18.A 0.0 3.0 1.4 1.5 10.6 OCT 86.9 10.7 8.2 0.0 4.4 3.8 6.5 11.F 0.1 3.8 0.3 5.3 32.3 NOV 115.8 7.4 16.0 0.1 7.6 6.4 9.7 12.3 1.1 0.8 0.1 2.6 51.7 DEC 60.8 0.3 26.5 0.5 3.4 3.4 2.9 O.FL 0.4 0.1 1.0 3.3 18.2 JAN 108.2 9.9 3.6 0.6 2.1 5.0 0.1 8.1 0.2 12.9 0.4 2.5 62.8 431.2 9.7 8.7 2.3 41.8 7.2 21.6 15.FI 5.7 5.5 10.1 13.9 288.9 24389.7 1220.9 9121.9 865.6 1262.6 852.7 992.5 3468.0 345.3 326.6 533.0 1397.0 4002.7 1.9 1.6 1.8 1.7 2.2 2.1 1.9 1.6 1.5 2.0 1.8 1.7 2.4 BOSTON MAR 10184.9 536,2 APR 6494.5 MAY PHILADELPHIA CLEVELAND RICHMOND ATLANTA 3812.0 295.1 489.0 305.9 407.1 1931.4 300.8 334.6 3756.0 157.3 1734.3 165.1 JUN 1511.2 42.6 822.8 JUL 712.2 9.3 AUG 868.3 SEP OR LATER » AVERAGE MATURITY IN M O N T H S 3 / 1/ SEE 2/ INCLUDES 3/ SEE * OF SINCE CHICAGO ALL DISTRICTS FEB TOTAL IN 2/ C E R T I F I C A T E S OF D E P O S I T WEEKLY REPORTING BANKS FEDERAL RESERVE DISTRICT AS CD'S 68 TECHNICAL ONLY TECHNICAL DETAILS MAY NOT APPENDIX ADD TO . A. CERTIFICATES APPENDIX NEW YORK ISSUED IN DENOMINATIONS B. TOTALS DUE TO ROUNDING. OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE MATURITY DISTRIBUTION OF O U T S T A N D I N G 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 27 (PERCENTAGE CD'S 1974 1975 MATURING 1/ FEB CERTIFICATES OF DEPOSIT 1/ 1974 DISTRIBUTION) ALL SAN LOUIS MINNEAPOLIS KANSAS CITY DALLAS FRANCISCO 4.0 1.5 4.5 2.5 4.1 3.7 40.0 41.7 48.7 45.4 42.6 42.2 43.2 25.0 32.9 23.3 27.0 21.0 23.8 22.5 10.5 9.3 7.1 9.7 11.8 9.5 7.3 5.2 5.0 4.1 3.1 4.0 4.6 4.6 5.0 4.6 3.3 5.7 2.2 2.4 2.0 4.6 5.4 3.7 1.5 4.0 1.6 3.0 1•A 2.8 0.8 3.4 2.8 3.8 0.6 0.2 0.7 0.9 1.4 0.6 0.2 0.7 1.5 1.0 1.4 2.8 0.2 0.3 0.7 0.4 1.2 O.A 1.0 1.1 1.5 0.7 1.6 0.5 0.8 0.2 0.1 0.5 0.6 0.9 0.4 0.6 0.5 1.0 0.5 1.1 DEC 0.7 0.8 0.7 0.6 0.4 0.6 0.8 0.6 0.8 0.1 1.8 0.5 1.0 JAN 0.7 0.9 0.1 0.1 0.6 0.6 0.6 0.6 1.3 2.4 1.4 0.7 2.0 FEB 0.6 0.3 0.0 0.2 1.1 0.3 1.1 0.? 0.6 0.7 0.7 0.4 2.2 1.9 1.5 0.5 3.1 12.2 1.4 2.5 l.n 6.5 0.9 1.6 3.8 1.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OR BY OISTRICTS PHILADELPHIA CLEVELAND RICHMONO BOSTON ATLANTA 3.0 2.1 2.3 4.3 2.9 3.7 2.3 MAR 43.2 38.2 45.4 49.5 36.5 43.1 APR 24.7 25.9 23.0 25.1 21.2 26.5 MAY 10.2 9.5 12.2 9.8 9.9 11.9 JUN 5.8 7.5 7.7 4.1 4.7 Jul 3.7 2.4 4.3 1.0 AUG 2.9 3.5 2.9 SEP 1.0 3.8 OCT 0.8 NOV FEB MAR TOTAL IN 6C 28 OR LATER * INCLUDES ONLY CERTIFICATES ISSUED IN NEW YORK DENOMINATIONS OF $100,000 MORE . CHICAGO WEEKLY ST. 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 27 (CUMULATIVE CD'S 1974 1975 FEB CERTIFICATES OF DEPOSIT 1/ 1974 PERCENTAGE) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 4.0 1.5 4.5 2.5 4.1 3.7 42.3 45.7 50.2 49.9 45.1 46.3 46.9 73.3 67.3 78.6 73.5 76.9 66.1 70.1 69.4 70.5 85.2 77.8 87.9 80.6 86.6 77.9 79.6 76.7 92.8 75.2 90.4 82.8 92.0 83.7 90.6 82.5 84.2 81.7 94.9 93.8 79.8 93.7 88.5 94.2 86.1 92.6 87.1 89.6 85.4 89.1 97.8 95.3 83.8 95.3 91.5 96.0 88.9 93.4 90.5 92.4 89.2 94.5 92.9 98.4 95.5 84.5 96.2 92.9 96.6 89.1 94.1 92.0 93.4 90.6 OCT 95.3 95.7 98.6 95.8 85.2 96.6 94.1 97.4 90.1 95.2 93.5 94.1 92.2 NOV 95.8 96.5 98.8 95.9 85.7 97.2 95.0 97.A 90.7 95.7 94.5 94.6 93.3 DEC 96.5 97.3 99.5 96.5 86.1 97.8 95.8 98.4 91.5 95.8 96.3 95.1 94.3 JAN 97.2 98.2 99.6 96.6 86.7 98.4 96.4 99.0 92.8 98.2 97.7 95 • 8 96.3 FEB 97.8 98.5 99.6 96.8 87.8 98.7 97.5 99. ? 93.4 98.9 98.4 96.2 98.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OR BY MATURING ALL DISTRICTS IN BOSTON 3.0 2.1 MAR 46.2 APR PHILADELPHIA CLEVELAND RICHMOND ATLANTA 2.3 4.3 2.9 3.7 2.3 40.3 47.7 53.8 39.4 46.8 70.9 66.2 70.7 78.9 60.6 MAY 81.1 75.7 82.9 88.7 JUN 86.9 83.2 90.6 JUL 90.6 85.6 AUG 93.5 SEP FEB MAR 1/ 6D 28 OR INCLUDES LATER ONLY CERTIFICATES ISSUED IN NEW YORK DENOMINATIONS OF $100,000 MORE CHICAGO WEEKLY REPORTING BANKS. TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 27 FEB 1974 (PERCENTAGE DISTRIBUTION) CD'S 1974 1975 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 38.? 49.3 46.4 42.9 44.6 45.6 25.2 36.P 31.2 22.2 27.6 27.3 26.7 15.3 15.6 14.3 9.6 14.2 16.2 15.6 9.4 7.2 7.4 5.1 5.1 4.0 5.5 2.4 2.5 2.7 0.6 3.2 10.6 2.1 1.6 0.2 2.8 2.0 3.3 1.4 4.2 2.4 6.9 2.3 4.4 2.0 3.4 0.8 6.3 4.7 2.6 0.6 0.0 0.0 0.3 0.2 0.9 0.5 0.0 0.9 0.3 0.1 0.3 0.4 0.9 0.1 0.0 0.3 0.4 0.7 0.3 0.0 1.2 0.1 0.4 0.8 NOV 0.5 0.6 0.2 0.0 0.6 0.8 1.0 0.4 0.3 0.2 0.0 0.2 1.3 DEC 0.2 0.0 0.3 0.1 0.3 0.4 0.3 0.0 0.1 0.0 0.2 0.2 0.5 JAN 0.4 0.8 0.0 0.1 0.2 0.6 0.0 0.? 0.1 3.9 0.1 0.2 1.6 1.8 0.8 0.1 0.3 3.3 0.8 2.2 0.5 1.7 1.7 1.9 1.0 7.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MATURING ALL DISTRICTS BOSTON MAR 41.8 43.9 APR 26.6 MAY PHILADELPHIA CLEVELAND RICHMONO ATLANTA 41.8 34.1 38.7 35.9 42.7 33.3 21.2 34.8 26.5 25.3 15.4 12.9 19.0 19.1 12.5 JUN 6.2 3.5 9.0 8.7 JUL 2,9 0.8 4.0 AUG 3.6 1.9 SEP 0.2 OCT FEB TOTAL IN OR * LATER NEW YORK CHICAGO 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner: Outstanding CD's maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD's maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable' to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month—after the survey date—are assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD4a 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 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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