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May 20, 1976




L.4.1
CONFIDENTIAL (FR)

SURVEY OF MATURITY STRUCTURE OF OUTSTANDING
LARGE DENOMINATION CERTIFICATES OF
DEPOSIT AT LARGE WEEKLY REPORTING BANKS

as of
March 31, 1976

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 31 MAR 1976

CD'S MATURING IN

1976 MARCH

AMOUNT
(MILLIONS OF
DOLLARS)

.
0

31

APRIL

26,510.9

PERCENTAGE
DISTRIBUTION

.
0
36.5

CUMULATIVE
PERCENTAGE

SALES SINCE
PREVIOUS MONTH 2/
(MILLIONS OF DOLLARS)

.
0

.
0

36.5

11,154.5

MAY

12,841.4

17.7

54.2

3.779.2

JUNE

10,690.2

15.0

69.2

5.041.3
1 ,625.8

JULY

5,619.7

7.7

76.9

AUGUST

3.781.0

5.2

62.1

SEPTEMBER

4,108.7

5.7

87.9

3,050.1

OCTOBER

1.474.3

2.0

89.8

165.4

811 .8

NOVEMBER

1.076.1

1.5

91 .3

111.9

DECEMBER

1,443.9

2.0

93.3

324.5
16 .9

1.286.4

1.8

95.1

FEBRUARY

796.5

1.1

96.2

110.3

MARCH

734.3

1.0

97.2

895.9 3/

2,000.1

2.8

100.0

XXX

XXX

27,087.6

1977 JANUARY

OVER 12 MONTHS
TOTAL

72,563.5
(MEMORANDUM:

JUNE 10
JUNE 15
APRIL 15

1/

818.4
1.316.2
2,014.7

100.0

TAX AND DIVIDEND MATURITIES)

1.1

1.8

2.8

XXX
XXX
XXX

INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING bANKS.

2/

SEE TECHNICAL APPENDIX A.

3/

SALES OF CD'S MATURING AFTER 11 MONTHS.




534.9

TABLE 2A
MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT
NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS

AT

AS OF 31 MAR 1976
(IN MILLIONS OF DOLLARS)

AMOUNT

CD'S MATURING IN

ALL OTHER WEEKLY REPORTING BANKS

CHICAGO

NEW YORK CITY
SALES SINCE
PREVIOUS MONTH 2/

AMOUNT

SALES SINCE
PREVIOUS MONTH 2/

AMOUNT

SALES SINCE
PREVIOUS MONTH 2 /

.0

1976 MAR 31

.0

.0

.0

.0

i

.0

APRIL

8,341.1

2,295.3

3,694.6

1,658.7

14 ,475.4

6,993.0

MAY

4,797.5

1,046.5

1,518.5

653.6

6 ,525 .4

2,064.2

JUNE

3,933.8

1,848.8

1,133.4

526.6

5 ,822.7

2,665.7

JULY

2,324.6

770.4

448.5

111.2

2 , 646.6

744.2

AUGUST

1,500.0

301.1

249.9

30.4

2 ,031.1

480.3

2,026.0

1,730.0

228.2

94.2

1,854.7

1,225.0

323.4

35.4

224.7

14.0

926.2

115 .9

3.0

758.0

70.4
221.6

SEPTEMBER
OCTOBER
NOVEMBER

182.6

38.6

135.6

DECEMBER

383.8

84.7

228.6

18.1

631 . 4

239.1

3.4

228.6

12.6

818.5

25.0

^

FEBRUARY

162.4

5.5

121.9

13.4

512.2

91.5

™

MARCH

156.9

83.8

206.7

OVER 12 MONTHS

461.9

XXX

294.6

XXX

1 ,243.1

XXX

8,274.0

8,591.5

3,519.3

39 , 1 3 8 . 9

15,266.4

1977 JANUARY

TOTAL *

114.3 /3

24,833.1

NUMBER OF REPORTING BANKS

212.2
428.8
637.8

137.3

2/ SEE TECHNICAL APPENDIX A.
11 MONTHS.

* TOTALS MAY NOT ADD DUE TO ROUNDING.




569.6 /3

TAX AND DIVIDEND MATURITIES)
104.2
119.9
422.1

164.9

1/ INCLUDES ONLY CERTIFICATES IN DENOMINATION OF $100,000 OR MOKE ISSUED BY WEEKLY REPORTING BANKS.

3/ SALES OF CD'S MATURING AFTER

493.6

21 8

12

10
(MEMORANDUM:

JUNE 10
JUNE 15
APRIL 15

Z3

502.0
767.6
954.8

212.6




TABLE 2B
1/
MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT
NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS
AS OF 31 MAR 1976 AND 25 FEB 1976
(PERCENTAGE DISTRIBUTION)
NEW YORK CITY

CHICAGO

ALL OTHER

CD'S MATURING IN
31 MAR
0—6 DAYS 2/
01 MONTHS 3/

25 FEB

31 MAR

25 FEB

31 MAR

25 FEB

.0

2.7

.0

2.6

.0

3.8

33.6

30.9

43.0

30.5

37.0

35.7

02 MONTHS

19.3

24.2

17.7

24.2

16.6

19.0

03 MONTHS

15.8

15.0

13.2

11.4

14.9

11.3

04 MONTHS

9.4

8.4

5.2

8.0

7.3

8.0

05 MONTHS

6.0

6.2

2.9

4.A

5.2

5.3

06 MONTHS

8.2

4.8

2.7

2.9

4.7

3.9

07 MONTHS

1.3

1.2

2.6

1.8

2.4

1.6

08 MONTHS

.7

1.2

1.6

2.8

1.9

2.1

0 9 MONTHS

1.5

.6

2.7

1.7

2.1

1.7

10 MONTHS

1.0

1.2

2.7

2.8

2.1

1 .5

11 MONTHS

.7

.9

1.4

3.2

1.3

2.0

12 MONTHS

.6

.6

1.0

1.4

1.3

1.1

OVER 12 MONTHS
TOTAL $

1.9

2.0

3.4

2.2

3.2

3.0

100.0

100.0

100.0

100.G

100.0

300.0

1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING
BANKS.
2/ NUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS
FOLLOWING THE LAST WEDNESDAY OF THE MONTH.
3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH.
• TOTALS MAY NOT ADD DUE TO ROUNDING.




TABLE 2C
1/
MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TINE CERTIFICATES OF DEPOSIT AT
NEW YORK CITY, CHICAGO, AND ALL OTrtfcR WEEKLY REPORTING BANKS
AS OF 31 MAR 1976 AND 25 FEB 1976
ICUMULATIVE DISTRIBUTION)
NEW YORK CITY
31 MAR
0—6 DAYS 2/

25 FEB

.0

2.7

01 MONTHS 3/

33.6

02 MONTHS

52.9

03 MONTHS

68.7

04 MONTHS

78.1

CHICAGO
31 MAR

ALL OTHER
j5 FEB

31 MAR

25 FEB

.G

2.6

33.6

*.3.0

33.1

37.0

3S.5

57.8

60.7

57.3

53.6

56.5

72.8

73.9

68.7

68.5

69.8

81.2

79.1

76.7

75.8

77.8

.0

3.8

OS MONTHS

84.1

87.4

82 .0

81.1

81.C

83.1

06 MONTHS

92.3

92.2

64.7

64.0

85.7

87.0

07 MONTHS

93.6

93.4

67.3

86.8

88.1

88.6

08 MONTHS

94.3

94.6

88.v

68.6

90.0

90.7

09 MONTHS

95.8

95.2

91.6

90.3

92. 1

92.4

10 MONTHS

96.8

96.4

54.3

93.1

94.2

93.9

11 MONTHS

97.5

97.3

95.7

96.3

95.5

95.9

12 MONTHS

98.1

97.9

9b.7

97.7

96.8

97.0

100.0

100.0

100.0

100.0

100.0

100.0

OVER 12 MONTHS

1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING
BANKS.
2/ NUMBER OF DAYS REMAINING IN SURVEY MONTH. THIS PERIOD VARIES WITH THE NUMBER OF DAYS
FOLLOWING THE LAST WEDNESDAY OF THE MONTH.
3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH.

TABLE 3A

MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/
AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/
AS OF 31 M A R 1976
I AMOUNTS IN MILLIONS OF DOLLARS)
$5 PILLION AND CVEK

C D * S MATURING IN

TOTAL

$500
MILLION
AND UNDER

$500 MILLION
TO
SI BILLION

*1 BILLION
TU
$5 BILLION

TOTAL
NEW YORK
C ITY

I9?fc MAR

31

OUTSIDE
NEW YORK
CITY

U.O

0.0

0.0

0.0

O.C

C .0

O.C

26,510.9

APRIL

1,262.3

2,247.3

7,9*6.4

15,014.9

7,655.9

7,359.0

MAY

12,641# 3

622.0

1,011.7

3,519.5

7 ,689.1

4,494.5

3,194.3

JUNE

10,890.1

501.1

841.2

3,090.2

6,457.6

3,729.4

2,726.2

JULY

5,619.6

204.b

347.9

1,412.7

3,654.2

2,264.5

1,369.7

AUGUST

3,701.1

159.9

197.9

97V.2

2,453.1

it^ng.7

1,044.4

SEPTEMBER

99.6

236. A

1,035.2

2 ,736.9

I ,P22.6

914.3

1,474.2

53.0

95.5

56).8

761.9

3C&.4

453.5

NOVEMBER

1,076.2

41.1

89.8

332.8

612.5

15*.1

453.4

DECEMBER
1977

4,108.7

OCTOBER

1,443.*

&3.B

78.4

436.7

682.9

354.1

528.8

JANUARY

1,286.5

50.1

101.3

277.5

*57.6

233.P

623.A

FEBRUARY

796.5

26.2

59.2

22*.7

487.4

134.2

353.2

MARCH

734.3

40.0

59.3

170.8

464.2

146.1

33*.1

2,000.1

51.9

95.5

531.7

72,563.3

3,156.0

5,460.8

20,553.2

APRIL
OR LATER
TOTAL *
—

JUNE 10

—

—

"

(MEMORANDUM:

—

818.4

18.2

457.8

863.2

43,393.3

23,169.4

20,223.o

623.0

206.7

414.3

1 ,32 1.0

TAX AND OIVIDLND MATURITIc
47.3

129.9

JUNE IS

1,316.2

39.4

51.5

314.6

910 .7

406 . 7

504.0

APRIL

2,014.7

116.3

120.6

521.3

1,256.5

569.4

667.1

63

17

7

10

15

mmrnmimmmmmmm—,

240

79

| nt W K A l l U U " *

61

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MOKE ISSUED BY WEEKLY REPORTING HANKS.
2/ TOTAL
ASSETS
AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.
*
TOTALS MAY NOT ADD DUE TO ROUNDING.




.

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 SINCE 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 SIZE OF B A N K S 3 /
A S OF 31 M A K 1976
I A M O U N T S IN M I L L I O N S OF D O L L A R S )

TABLE 38

MONTH

2/

$5 B I L L I O N

CD'S MATURING

IN

TOTAL

$500
MILLION
AND UNDER

$500 MILLION
TO
$1 BILLION

SI B I L L I O N
TU
$5 B I L L I O N

NEW YORK
CITY
1976 WAR

TOTAL

A N D OVER

SI

l,126.o

3.735.1

5,687.0

1,991.2

3,695.8

220.1

384.7

1,241.8

1,Q32.5

890 .6

1,041.7

245.9

471.b

1.452.2

?,*71.5

1,736.8

1,134.7

1,625.7

64.9

83.4

415.8

1,061.6

733.7

327.9

811.9

49.3

40.4

172.5

549.7

290.2

2 59. 5

1,575.5

603.6
31.0

11,154.5

605.8

WAV

3.779.1

JUNE

5.041.2

APRIL

JULY
AUGUST
SEPTEMBER
OCTOBER

3,050.0

53.1

148.6

669 .0

2,170.3

165.3

3.3

17.7

81.4

62 .9

31.9

51.9

49.3

23.7

25.6

112.6

188.6

68 .6

12v. 0

NOVEMBER

111.9

3.9

6.8

DECEMBER

324.5

5.9

17.4

16.9

16
.

4.3

14.5

FEBRUARY

110.4

2.1

13.7

30.6

64 .0

MARCH
OR L A T E R

895.8

46.5

58.6

171.7

619,0

27,087.2

1,302.4

2,373.6

8,149.1

15,261.9

1977 JANUARY

TOTAL

$

—
15

IMEMORANDUM;

534.0

28.7

240

APRIL

OUTSIDE
NEW YORK
CITY

79

3.%-

1 33.5

6.559.2

505.5

7,463.7

7,798.2

132.2

156.5

TAX A N D D I V I D E N D M A T U R I T I E S )
47.3

(MEMORANDUM:

170.3
NUMBER

61

288.7

CF B A N K S )
83

17

1 / SEE 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 O F $ 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/ TOTAL
ASSETS
A S R E P O R T E D IN THE CALL R E P O R T OF C O N D I T I O N O N J U N E 3 0 , 1 9 7 5 .
#
T O T A L S MAY NOT ADO DUE TO R O U N D I N G .




3.0
4.8

10

TABLE

MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/
AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2 /
AS OF 31 MAR 1976
PERCENTAGE DISTRIBUTION

3C

55 BILLION AND O V E R
CD'S MATURING IN

TOTAL

$500
MILLION
AND UNDER

$500 MILLION
TO
$1 BILLION

$1 BILLION
TO
$5 BILLION

TOTAL
NEW YORK
CITY

0.0

OUT SID?:
NEW YORK
CITY

0.0

0.0

APRIL

36.5

40.0

41.2

38.9

34.6

33.0

3 6.4

MAY

17.7

19.7

IB.5

17.1

17.7

19.4

1^.8

JUNE

15.0

15.9

15.4

15.0

14.9

16.1

13.5

JULY

7.7

6.5

6.4

6.9

8.4

9 .8

6.9

AUGUST

5.2

5.1

3.6

4.7

5.7

6.1

5.2

SEPTEMBER

5.7

3.2

4.3

5.0

6.3

7.9

4.5

1976 MAR

31

0.0

0.0

0 .0

0.0

OCTOBER

2.0

1.7

1.7

2.7

1.8

1 .3

2.2

NOVEMBER

1.5

1.3

1.6

1.6

1 .6

G .7

2.2

DECEMBER

2.0

1.4

1.4

2.1

2.0

1.5

2.6

1.8

1.6

1.9

1.4

2.0

0
3.

3.1

FEBRUARY

1.1

0.8

1.1

1.1

1.1

0.6

1.1

MARCH

1.0

1.3

1.1

0.6

1-1

0.6

1.
6

3.0

2 .0

4.3

1977 JANUARY

APRIL
OR LATER
TOTAL *

2.8
100.0

1.6
100.0

2.6

1.7

100.0

(MEMORANDUM:

100.0

100.0

100.0

100.0
2.0

TAX AND DIVIDEND MATURITIES)

JUNE 10

1.1

0.6

0.9

0.6

1.4

0.9

JUNE 15

1.8

1.2

0.9

1.5

2.1

1.8

2 -f

APRIL

2.8

3.7

2.2

2.5

2.9

2.5

3.4

15

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS.
2/ TOTAL
ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.
*
TOTALS MAY NOT ADD DUE TO ROUNDING.




TABLE 3D

MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT
AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/
AS OF 31 MAR 1976
CUMULATIVE PERCENTAGE

1/

$5 PILLION AND OVER
CD'S MATURING IN

TOTAL

$500
MILLION
AND UNDER

$500 MILLION
TO
$1 BILLION

$1 BILLION
TO
- $5 BILLION

TOTAL
NEW YORK
CITY

MAR

31

OUT SIDE
NEW YORK
CITY

0.0

0.0

0.0

0.0

C .0

0.0

C.O

36.5

40.0

41.2

36.9

34.6

33.0

36.4

MAY

54.2

59.7

59.7

56.0

52.3

52.4

52.2

JUNE

69.2

75.6

75.1

71.0

67.2

68 .5

65.7

JULY

76.9

82.1

81.5

77.9

75.6

78.3

72.6

AUGUST

82.1

87.2

85.1

82.6

81.3

84.4

77. E

APRIL

SEPTEMBER

87.8

90.4

69.4

67.6

87.6

92 .3

82.3

OCTOBER

89.8

92.1

91.1

90.3

89.4

93.6

64.5

NOVEMBER

91.3

93.4

92.7

91.9

90.8

94.3

86.7

DECEMBER

93.3

94.8

94.1

94.0

*2.8

95.8

69.3

JANUARY

95.1

96.4

96.0

45.4

94.8

96 .6

92.4
94.1

FEBRUARY

96.2

97.2

97.1

96.5

95.9

97.A

MARCH

97.2

98.5

98.2

97.3

97.0

96.0

95.7

100.0

100.0

100.0

100.0

100.0

100 .0

100.c

APRIL
OR LATER

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY KfEKLY REPORTING BANKS.
2/ TOTAL
ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.
*
TOTALS MAY NOT ADO DUE TO ROUNDING.




SALES /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/
AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/
AS OF 31 MAR 1976
PERCENTAGE DISTRIBUTION

TABLE 3E

$5 BILLION AND OVER
CD'S MATURING IN

TOTAL

$500
MILLION
AND UNDER

$500 MILLION
TO
$1 BILLION

$1 BILLION
TO
$5 BILLION

TOTAL
NEW YORK
CITY

1976 MAR

OUTSIDE
NEW YORK
CITY

31

APRIL

41.2

46.5

47.5

45.8

37.3

26.7

41.4

MAY

14.0

16.9

16.2

15.2

12.7

11.9

13.4

JUNE

18.6

18.9

19.9

17.8

IP

.8

23.3

14.6

JULY

6.0

5.0

AUGUST
SEPTEMBER

3. 5

5.1

7.0

9 .8

3-0

3.8

1.7

2.1

11.3

4.1

6.3

8.2

14.3

3.6

4.2

2 1.1

3 .9

OCTOBER

0.6

0.3

0.7

1 .0

0.4

C.4

0.4

NOVEMBER

0.4

0.3

0.3

0.6

0.3

0.3

0.3

1.2

0.5

0.7

1 .4

1 .2

0.9

) .5

0.1

0.1

0.2

0.2

0.0

0 .0

C .1-

FEBRUARY

0.4

0.2

0.6

0 .4

0.4

0.1

O.P

MARCH
OR LATER

3.3

3.o

2.5

2.1

4.1

1 .5

6.5

100.0

100.C

100.0

100.0

100.)

100.0

DECEMBER
1977 JANUARY

TOTAL *

100.0
—

APRIL 15

2.0

(MEMORANDUM:

2.2

TAX AND DIVIDEND MATURITIES)

2.0

240
1/
2/
3/
»

79

1.0

2.1

(MEMORANDUM:
61

NUMBER OF BANKS)
83

17

SEE TECHNICAL APPENDIX A .
INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S .
TOTAL
ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 147%.
TOTALS MAY NOT ADD DUE TO ROUNDING.




TABLE 4 A
AVERAGE MATURITY
OF
OUTSTANDING NEGOTIABLE TIME CERTIFICATES (F DEPOSIT 1/
AT WEEKLY REPORTING BANKS
AT VARIOUS SURVEY DATES
U N MONTHS)

BANK CLASSIFICATION

DATE OF SUKVEY
31 MAR 1976

25 FEB 1976

28 JAN 1976

(BY LOCATION)
All REPORTING BANKS
ISSUING CD'S

2.e

2.7

NEW YORK CITY

2.6

2.6

2.6

CHICAGO

2.7

3.1

2.8

OTHER

2.9

2.9

2.8

<BY SIZE OF BANK) 2/
UNDER $500 MILLION

2.4

*500-11,000 MILLION

2.5

2.4

2*4

$l,000-$5,000 MILLION

2.7

2.7

2.7

OVER $5 BILLION

2.4

2.5

2.9

2.9

2.8

IN NEW YORK CITY

2.7

2.7

2.6

OUTSIDE NEW YORK CITY

3.2

3.3

3.0

1/

INCLUDES CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS.

2/

TOTAL

ASSETS




AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.

TABLE

46

AVERAGE MATURITY
OF
NEGOTIABLE

TIME

CERTIFICATES

OF

SOLD BY W E E K L Y REPORTING
D U R I N G THE

M O N T H OF
U N

1/

VARIOUS SURVtYS

MONTHS)

DATE
31 MAR

DEPOSIT

BANKS

1976

OF

2*> FEB

SURVEY
lv7e

28

JAN

1976

ItsV L O C A T I O N )
ALL R E P O R T I N G B A N K S
ISSUING CD'S

NEW

2 »fx

2.4

2.6

2.T>

2.8

CHICAGO

YORK C I T Y

2.0

2.5

2.8

OTHER

2.3

2 .S

2.5

I9Y

SIZE

OF

B A N K \ 2/

UNDER $500 MILLION

2.0

S500-S1,000 MILLION

2.0

2.0

2.1

S1,000-SS,000 MILLION

2.2

2.2

2.4

OVER

2.7

2.8

3.0

CITY

2.9

2.7

2.9

YORK CITY

2.5

3.0

3.1

S$ BILLION
IN N E W

YORK

OUTSIDE NEW

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

2/

TOTAL

WOTE—SEE

ASSETS

AS R E P O R T E D

TECHNICAL APPENDIX B.




IN THE C A L L

$ 1 0 0 , 0 0 0 OR

REPORT OF

MORE

2.1

2.1

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 .

CONDITION ON JUNE

30,

197*.

TilLt SA
RATIO OF OUTSTANDING NEGOTIABLE TIMF CERTIFICATES OF DFPOSIT

1/

TO TOTAL 01:POSITS
AT VARIOUS SURVEY DATE?
(PER CENT I

OATfc OF SURVEY
UN

101At ASSETS 2/
HILL IONS Of DOLLARS!

ALL BANKS ISSUING
CD'S

31 MAR 197b

19.7

25 FEB 197t>

20.5

28 JAN 1976

21.5

UNDER SOD

S3e8

14.8

1* .9

SOO - 1000

14.5

14.6

16.5

1000 - 5000

16.1

17.1

18.0

OVER *000

24.0

24.8

2^.7

IN NEW YORK CITY

26.6

29.2

29.3

OUTSIDE NEW YORK CITY

21.6

20.9

22.4

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF §100*000 OH MORE ISSUED BY WcEKLY REPORTING GANKS.
2/ TOTAL
NOTE-

ASSETS

AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1*75.

DEPOSITS IN 1HL DENOMINATOR OF THE RATIO IN THIS TABlt ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING
INTERBANK A N D U.S. GOVERNMENT DEPOSITS.




TABLE

5b

R A T I O 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
TO TOTAL
AS OF

1/

DEPOSITS

31 MAR

1976

(NUMBER OF B A N K S )

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

51
OR
LESS

5
TO
10%

10
TO
15%

15
TO
2 0%

20
TO
25%

25%
OR
MORE

A V E R A G E CD
70 D E P O S I T
R A T I O (PER C E N T )

ALL B A N K S I S S U I N G
CD'S

44

40

43

37

UNDER 500

16

17

17

9

500 - 1 0 0 0

12

12

11

6

9

9

14.5

1000 - 5000

16

11

12

16

14

14

36.1

2

8

24.0

OVER

5000

0

0

3

4

IN N E W Y O R K C I T Y

0

0

0

0

0

2/ T O T A L




9

13.e

3

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 1 0 0 , 0 0 0 OR MORE

NOTE-

11

19.7

1

O U T S I D E N E W YORK C I T Y

40

ASSETS

26.6
21.6

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

AS R E P O R T E D IN THE CALL R E P O R T OF C O N D I T I O N ON J U N E 3 0 , 1 9 7 5 .

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 A N D U . S . G O V E R N M E N T D E P O S I T S .

IN T H I S T A B L E ARE

TOTAL D E M A N D AND TIME

DEPOSITS, INCLUDING

TABLE 5C
PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /\
25 FEB 19 76 TO 31 MAR 1476
(NUMBER OF B A N K S )

TOTAL ASSETS 2/
(IN MILLIONS OF DOLLARS)

DECLINES OF
REDUCED — — — — — — — — — — — — — — —
CD'S TO
10* OR
5 TO
b% OR
ZERO
MORE
10%
LESS

NO
CHANGE

5% OR
LESS

ALL BANKS ISSUING
CD'S

2

49

48

53

1

17

15

17

6

500 - 1000

1

14

12

12

2

9

1000 - 5000

0

16

20

19

2

10

OVER

ISSUED CD'S BUT
HAD NONE OUTSTAN0ING ON BASE DATE

10

UNDER 500

INCREASES OF
—
—
5 TO
10% OR
10%
MORE

11

10

1

4

8

0

6

9

1

2

0

2

1

5

0

5

2

2

0

IN NEW YORK CITY

0

1

0

3

0

3

0

C

0

OUTSIDE NEW YORK CITY

0

1

I

2

0

2

2

2

0

5000

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS.
2/ TOTAL
NOTE-




ASSETS

AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.

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 5D
PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /l
31 DEC 1975 TO 31 MAR 1976
(NUMBER OF BANKS)

TOTAL DEPOSITS Z2
(IN MILLIONS OF DOLLARS)

REDU-

DECLINES OF

CD'S 25%
TO
OR
ZERO MORE

ALL BANKS ISSUING
CD'S

20
TO
25%

15
TO
20*

INCREASE OF

10
TO
15%

5
TO
10%

5%
OR
LESS

40

16

31

25

36

11

9

9

6

INDER 500

1

11

500 - 1000

0

6

1000 - 5000

0

19

10

8

OVER 5000

0

4

0

4

IN NEW YORK CITY

0

OUTSIDE NEW YORK CITY

0

3

2
2

8

0

10

2
0

10

12

2

10
TO
15%

2

20
TO
25%

2

3
6

4

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1
2

3

0

1
0

0

1

1

1

0

6

2

2

2

2

25%
OR
MORE

9

2
1

6

15
TO
20%

4

1

8

5
TO
10%

15

5

0
2

8

3

5%
OR
LESS
21

27

3

NO
CHANGE

ISSUED
CD'S BUT HAD
NONE
OUTSTANDING
ON BASE DATE

3
0

5
2

0

1
0

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS.
2/ TOTAL
NOTE-




ASSETS

1

AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.

THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT
HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR
OUTSTANDINGS TO ZERO.

0

TABLE 5t
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
25 FEB 1976 TO 31 MAR 1976
(NUMBER OF BANKS)
TOTAL ASSETS 2/
(IN MILLIONS OF DOLLARS)

ALL B A N K S
CD'S

INCREASES OF

DECLINES OF
3%
AND
OVER

ISSUING

1

2
TO
3%

1%

TO
2*

AND
LESS

NO
CHANGE

IX
AND
LcSS

11

45

76

10

45

4

UNDER 500

21

7

13

25

6

1

TO
2%

2
TO
3%

3%
AND
OVER

13

500 - 1000

3

6

12

19

2

4

fe

17

29

2

15

3

0

4

0

3

0

11

13

1000 - 5000

14

1

OVER 5000

0

2

IN NEW YORK CITY

0

1

OUTSIDE NEW YORK CITY

0

1

3
1

2
2

1

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS.
2/ TOTAL
NOTE—

ASSETS

AS REPORTED IN THt CALL REPORT OF CONDITION ON JUNE 30, 1975*

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 THt PERIOD
31 DEC

1975 TO 31 MA* V*7c>

(NUMBER OF dANKSl
TOTAL ASSETS 2/
UN

DECLINES OF

MILLIONS OF DOLLARS 1

ALL BANKS ISSUING

5t
AND
OVER

A
10
51

3
TO
4t

INCREASES OF

IN NEW YORK CITY
OUTSIDE NEW YORK CITY

V

16

3

14

2

1

6

14

13

1

6

3

4

10

11

jO

1

S

3

0

1

1

0

4

0

0

0

0

0

0

0

1

0

0

0

0

0

0

0

0

0

0

0

0

0

9

1

5

a

5

0

S

3

3

0

1

2

2

0

4

1

0

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF S100•OOO OR MORE
2/ TOTAL
NOTE-




ASSETS

5%
AND
OVER

TO
5X

9

4

•
>

OVER 5000

3
TC
4%

2
TO
Z%

28

30

12

1000 - 5000

1
TO
2%

5

24

3

500 - 1000

1%
AND
UNDER

53

13

3

UNDER 500

NO
LHANGt

34

23

CO* s

1%
AND
LESS

1
TO
Z%

2
TO
3%

0

8

5

4

6

3

2

4

1

1

C

1

ISSUED BY WEEKLY REPORTING BANKS.

AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975.

DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING
INTERBANK AND U.S. GOVERNMENT DEPOSITS.

TABLE 6A
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 c G 0 T l A 4 l E TINE 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 FEDERAL RESERVE DISTRICT
A S OF

31 MAR

1/

1*76

( A M O U N T S IN M I L L I O N S OF D O L L A R S I

C D ' S M A T U R I N G IN

BOSTON

NEW
YORK

PMILADELPHIA

CLEVELAND

ii

ALL
OISTR1CTS

ATLANTA

CHICAGO

ST.
LOUIS

MINNEAPOLIS

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

26511.3

1226.9

9219.5

108 3.4

1086 .2

700.3

1025.1

4825.4

281.5

155.9

MAY

12841.4

521.1

5137.1

546.0

615 .0

387.9

487.4

2044.4

153.2

JUN

10689.9

386.6

4193.4

427.9

571.0

370.5

435.2

1659.6

126.6

1*7* *A*

SI

APR

KANSAS
CITY
c o
.

DALLAS

SAN
FRANCISCO

0.0

0.0

620.0

1770.3

4514.8

62.1

292.7

785.5

I 60S . 0

76.2

202.5

662.8

1757.6

JUL

4619.6

227.*

2444.5

264.5

240.3

179.7

230.7

679.0

80.3

39.3

93.7

317.6

822.1

AIM;

3780.9

171.4

1537.6

170.8

186.3

75.8

163.6

371.9

35.6

25.6

59.8

2 17.6

764.9

SEP

4109.0

176.4

2060.3

188.3

150.3

94.4

121.4

336.8

47.1

9.9

61.6

158.1

704.4

OCT

1474.1

145.5

338.0

98.5

112.7

41.2

57.6

260.6

23.4

7.0

33.5

75.6

260.3

NOV

1076.3

53.2

195.4

47.9

68.4

41.8

51.1

161.5

21.0

2.0

31.8

66.7

29 5.5

DEC

14*3.7

100.9

404.0

53.9

65.0

33.5

36.5

270.5

24.9

5.6

23.3

95.0

308.6

1977 JAN

1266.5

53.1

251.7

11.2

45.0

21.9

51.3

261.7

16.0

11.5

24.8

96.1

442.2

8.1

29.3

12.1

16.8

163.7

4.7

26.4

14.1

56.4

239.7

io. e

43.6

109.2

9.9

0.6

24.2

42.2

234.5

65.0

312.9

36.9

16.3

22.1

121.2

361.0

27*9.3 11497.4

861.1

436.6

1506.1

4467.1

12514.6

FEB

796.5

52.6

166.6

MAR

734.3

40.1

161.9

22.7

34.6

1999.9

106.9

473.1

97.8

341.4

45.3

3264.6 26585.1

3021.0

3585 .5

2015.2

APR M

LATER

TOTAL *

72563.4

AVERAGE MATURITY
IN M O N T H S 2 /

2.7

3.0

2.5

2.7

3.6

2.5

2.7

2.6

3.1

3.1

2.5

2.6

3.1

N U M B E R OF R E P O R T I N G
BANKS

240

16

36

10

15

18

23

36

11

5

18

23

29

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 I S S U E D IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE 9Y W b E K L Y
2 / SEE TECHNICAL APPENDIX B.
* D E T A I L S M A Y NOT A D D T O T O T A L S DUE T O R O U N D I N G .




REPORTING BANKS.

TABLE 6B
1/
2/
SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH
WEEKLY REPORTING BANKS
BY FEDERAL RESERVE DISTRICT
AS OF 31 MAR 1976
(AMOUNTS IN MILLIONS OF DOLLARS)
CD'S MATURING IN

1976 APR

ALL
DISTRICTS

BOSTON

11147.0

588 .4

NEW
YORK

PHILADELPHIA

CLEVELAND

2809.9

448.0

432. *

CHICAGO

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

435.5

2245.7

115.6

50.9

345.0

868.9

2510.4

RICHMOND
ATLANTA
295.9

MAY

3764.3

196.9

1194.4

220.2

206.7

98.6

145.9

831.9

61.2

7.4

122.4

236.6

440.3

JUN

4041.0

145.1

1994.5

150.7

270.8

153.1

196.5

601.5

61.5

39.0

100.0

364.3

764.0

JUL

1626.7

133.2

819.3

87.9

78.4

36.3

57.1

151.5

16.1

3.4

20.4

67.5

154.6

AUG

811.7

17.2

310.4

32.2

46.4

1.9

49.4

68.9

5.7

9.9

15.5

41.6

212.6

64.2

69.0

165.7

24.2

4.2

40.8

112.9

543.2

s.e

38.2

2.3

C. 3

4.1

5.6

14.9

1 .2

0.0

0.6

6.0

15.8

0.1

2.6

15.6

87.0

SEP

3049.3

96.6

1751.4

95.0

61.9

OCT

165.4

16.7

35.6

26.8

3.6

NOV

111.9

5.6

39.6

9.9

4.8

8.2

7.9

12.2

DEC

324.4

15.6

90.1

10.3

41.4

4.6

6.8

36. 1

12.2

8»!
>

1977 JAN

32.9

0.6

3.5

3.0

0.4

0. t
»

4.0

8.5

2.9

1.8

0.2

0.6

6.8

FEB

110.4

13.6

6.7

1.8

3.7

2.0

3.4

20.6

0.5

0.3

2.4

5.8

49.6

mar OR LATER

892.6

36.3

119.9

27.a

29.6

14.2

47.8

232.4

12.1

4.0

25.3

42.3

300.9

27076.6

1266.0

9175.3

1113.6

1200.5

698.1

1034.1

4613.2

315.6

121.3

679.3

1769.7

5099.9

2.4

2.2

2.7

2.3

2.4

2.1

2.4

2.1

2.%

2.3

1.9

1.9

2.6

TOTAL $
AVERAGE MATURITY
IN MONTHS 3/

1/ SEE TECHNICAL APPENDIX A.
2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS.
3/ SEE TECHNICAL APPENDIX B.
* DETAILS MAY NOT ADD TO 10TALS DUE TO ROUNDING.




TABLE 6C
MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT
AT WEEKLY REPORTING BANKS
BY FEDERAL RESERVE DISTRICT

1/

AS OF 31 MAK 1976
(PERCENTAGE DISTRIBUTION)
CD'S MATURING IN

ALL
DISTRICTS

BOSTON

NEW
YORK

PHILADELPHIA

CLEVELAND

RICHMOND ATLANTA

0.0

0.0

0.0

0.0

0.0

APR

36 . 5

37.6

34.7

35.9

3 0.3

34.6

MAY

17.7

16.0

19.3

18.1

16.9

JUN

15.0

11.8

15.8

14.2

16.0

JUL

7.7

7.0

9.2

8.8

AUG

5.2

5.3

5.8

5.7

1976 MAR 31

0. 0

O.C

CHICAGO
0. 0

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

0.0

0.0

C.O

0.0

0.0

32.7

35.6

41.2

39.5

36.1

17. S

14.2

19.5

17.5

14.5

14.7

17.4

13.5

15.2.

14.0

7.1

6.6

4. b

6.1

36.6

42.0

19.2

17.5

17.8

18.4

15.6

14.4

6.8

8.9

8.3

5.9

9.3

9.0

t

5.2

3.b

5.9

3.2

4.1

5.8

4.0
4.1

3.5

5.6

.2

SEP

5.7

5.4

7.7

6.2

4.2

4.7

4.3

2.9

5.5

2.3

OCT

2.0

4.5

1.3

3.3

3.2

2.0

2.1

2.4

2.7

1.6

2.2

1.7

2.1

NOV

1.5

1.6

0.7

1.6

2.5

2.1

1.6

1.6

2.4

0.5

2.1

1.5

2.4

DEC

2.0

3.1

1.5

1.8

2.4

1.7

1.4

2.4

2.9

1. 3

1. 5

2^1

2. 5

1977 JAN

1.8

1.6

0.9

0.4

1.2

1.1

1.8

2.3

1.9

2.6

1.6

2.1

3.5

FEB

1.1

1.6

0.6

0.3

0.8

U.6

0. 7

1.4

0.5

6.0

0.9

1. 3

1.9

MAR

1.0

1.2

0.6

0.8

0.9

0.5

1 .6

0.9

1.1

0.1

1.6

0.9

1.9

APR OR LATER
TOTAL *

2.8

3.3

1.8

3.2

9.5

2.2

2.3

2.7

6.3

3.7

1.5

2.7

2.9

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

1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING B A N K S .




TABLE 60
MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/
AT WEEKLY REPORTING BANKS
BY FEDERAL RESERVE DISTRICT
AS OF 31 MAk 1976
(CUMULATIVE PERCENTAGE)
CD'S MATURING IN

1976 MAR 31

ALL
DISTRICTS

BOSTON

0.0

0.0

NEW
YORK

PHILADELPHIA

CLEVELAND

RICHMOND
ATLANTA

0.0

0.0

0.0

0.0

C.G

ST.
LOUIS

MINNFAPOLI S

KANSAS
CITY

DALLAS

SAN
FR ANCI SCO

0.0

0.0

0.0

v. 0

0.0

0.0
36.1

CHICAGO

APR

36.5

37.6

34.7

35.9

30.3

34.6

36.8

42.0

32.7

35.6

4).a

29.5

MAY

54.2

53.6

54.0

54.0

47.2

54. 0

*4.3

59.2

50.5

49. 6

60.7

57.0

50.6

JUN

69.2

65.4

69.8

68.2

63.2

72.4

69.9

74.2

65.2

67.2

74.2

It.2

G 4. 6

JUL

7o.9

72.4

79.0

77.0

70.0

hi.3

78.2

BO. 1

74.5

76.2

80.6

79. 3

71.2

AUG

82.1

77.7

84.8

82.7

75.2

85.1

84.1

83.3

76.6

82.0

84.4

64.1

77.3

SEP

87.8

83.1

92.5

68.9

79.4

89. e

88.s

86.2

64.1

84.3

8f .5

87.6

8Z.9

OCT

89.8

87.6

93.8

92.2

82.6

91. &

90.5

88.6

66.8

85.9

90.7

6 9.3

85.0

93.8

85.1

93.9

92.3

90.2

89.2

86. 4

9k. b

90.8

87.4

95.6

87.5

95. 6

93. 7

92.6

92 .1

87. 7

94.3

92.9

8Q.9

94.9

*4.0

90.2

95.9

95.C

9 3.4-

96.3

94.5

96.3

96.8

96.3

G5.3

NOV

91.3

89.2

94.5

DEC

93.3

92.3

96.0

1977 JAN

95.1

93.9

96.9

96.0

PR.7

96.7

95.5

FEB

96.2

95.5

97.5

96.3

89.5

47.3

96.2

MAR
APR OR LATER

97.2

96.7

98.1

97.1

90.4

97.H

97.8

97.2

95.6

96.4

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1 / INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS.




Q8.4

47.2

97.2

100.0

100.0

ICO.O

TABLE bE
1/
2/
SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SlNCt PREVIOUS MONTH
WEEKLY REPORTING BANKS
BY FEDERAL RESERVE DISTRICT
AS OF 31 -MAR 1976
(PERCENTAGE DISTRIBUTION)
ALL
DISTRICTS

BOSTON

1976 APR

41.2

46.5

MAY

13.9

15.6

13.0

19.8
13.5

CD'S MATURING IN

NEW
YORK

PHILADELPHIA

CLEVELAND

40.2

36.1

30.6

RICHMOND
ATLANTA

CHICAGO

ST.
LOUIS

MINNEAPOLIS

KANSAS
CITY

DALLAS

SAN
FRANCISCO

36.6

42.0

50.6

4V.1

49.2

43.C

42.1

48.7

17.2

14.3

14.1

16.0

19.4

6.1

16.0

13. 5

8.6

22.6

22.2

19.0

17.4

19.5

32.2

14.7

2 0.6

15.0
3.0

JUN

18.6

11.5

21.7

JUL

6.0

10.5

6.9

7.9

6.5

5.3

5.5

2.3

5.1

2.8

3.0

3. 6

AUG

3.0

1.4

3.4

2.9

3.9

0.3

4.8

1.5

1.8

8.2

2.3

2.4

4.2

SEP

11.3

7.6

19.1

8.5

6.8

9.3

6.7

2.6

7.7

3. 5

6-0

6.4

10.7

OCT

0.6

1.3

0.4

2.4

0.3

1.2

0.9

0.8

0.7

0.2

0.6

C.2

0.3

NOV

0.4

0.4

0.4

0.9

0.4

1.2

0.8

0.3

0.4

0.0

0.1

0.3

0.3

DEC

1.2

1.2

1.0

0.9

3.4

0.7

0.9

0.8

3.9

0.1

0.4

0.9

1.7

1977 JAN

0.1

0.0

0.0

0.3

0.0

0.1

0.4

0.2

0.9

1.5

0.0

o.c

0.1

FEB

0.4

1.1

0.1

0.2

C.3

0.3

0.3

0.4

0.2

C.2

0.4

0.3

1.0

MAR OR LATER

3.3

2.9

1.3

2.5

2.5

2.1

4.6

5.0

3.8

3.3

3. 7

2.4

5.9

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

TOTAL *

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 M A T U R E D .
• DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.




100.0

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 ssles 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 ssles between survey dates
that mature in the remaining days of the calendar month in which the current
survey is taken.




TECHNICAL NOTE
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

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

Any CD's sold between

survey dotes 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 assumea 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 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 outstandlnga
due in any particular month are a small and rather stable proportion of the
iGvel 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 la the case with the outstandings series.

Thus, large changea 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
aalea bv month.

Formulas for calculation of average maturities are available on
requeat from the Banking Section, Division of Research and Statistics, Board
of Governors of the Federal Reserve System.




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