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M a y 24, 1971
@'i r; A-V.
MAY
23
Research
L.A.I
CONFIDENTIAL (FR)
11
•-=
1971
Library
SURVEY OF MATURITY STRUCTURE OF
OUTSTANDING LARGE DENOMINATION CERTIFICATES
OF DEPOSIT A T LARGE WEEKLY REPORTING BANKS
AS OF
A p r i l 28, 1971
Banking Section
Division of Research and Statistics
Board of Governors of the Federal Reserve System
TABLE
1
1/
MATURITY DISTRIBUTION
OF
OUTSTANDING
WEEKLY
AS
CD'S
MATURING
I 971
APRIL
REPORTING
OF
AMOUNT
( M I L L I O N S OF
DOLLARS)
IN
2 8 APR
TIME CERTIFICATES
OF
DEPOSIT
AT
BANKS
1971
PERCENTAGE
DISTRIBUTION
CUMULATIVE
PERCENTAGE
S A L F S 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 )
1,063.4
3.9
3.9
.0
MAY
6,909.1
25.4
29.3
2,695.2
JUNE
5.605.8
20 .6
49.9
I,455.4
JULY
3,340.4
12.3
62.2
I,211.9
AUGUST
1,726.3
6.3
68.5
160.3
SEPTEMBER
1,820.8
6.7
75.2
159.8
OCTOBER
1.611.9
5.9
81.1
499.0
NOVEMBER
878. 1
3.2
84.3
58.4
DECEMBER
975.0
3.6
87.9
94.0
894.4
3.3
91.2
116.6
FEBRUARY
482.9
1.8
9 3.0
18.4
MARCH
808.0
3.0
96.0
59.3
APRIL
566.1
2.1
98.1
560.9
537.4
2.0
100. G
27,219.5
IOC .0
29 -
30
1972 JANUARY
OVER
12 M O N T H S
TOTAL
(MEMORANDUM:
JUNE
JUNE
TAX
INCLUDES O N L Y C E R T I F I C A T E S
2/
SEE T E C H N I C A L
3/
S A L E S OF
APPENDIX
CD* S M A T U R I N G
IN D E N O M I N A T I O N S
A.
AFTER
11 M O N T H S .
AND
7,089.4
DIVIDEND MATURITIES)
XXX
XXX
3 .7
OF
XXX
XXX
1.1
300.0
996.0
10
15
1/
NEGOTIABLE
$100,000
OR M O R E
ISSUED
BY W E E K L Y
49.5
356.0
REPORTING
BANKS.
3/
TABLE
26
1/
MATURITY
D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S
N E W Y O R K C I T Y , C H I C A G O , A N D ALL OTHER W E E K L Y R E P O R T I N G
AS
(IN
N E W
CD'S
MATURING
1971
APR
1972
29
IN
MILLIONS
PREVIOUS
AT
1971
OF D O L L A R S )
CHICAGO
M O N T H 2/
ALL
PREVIOUS
MONTH
2/
_
_
OTHER
A
"
WFFKLY
REPORTIJG^HTNKS
W M
434.1
.0
27.1
-0
6C2.1
MAY
2,416.4
1,168.6
389.5
138.FI
4,103.0
1,398.?
JUNE
1,913.7
762.6
387.5
71.7
3,304.6
621.1
JULY
894.2
276.8
265.4
112.4
2,190.7
822.6
AUGUST
651.5
44.5
86.5
5.9
988.3
109.4
SEPTEMBER
661.7
41.6
83.0
7.7
1,076.0
LL(.4
OCTOBER
568.4
118.5
180.0
25.0
863.5
355.5
NOVEMBER
251.5
5.7
94.0
»0
532.6
??.7
DECEMBER
347.6
40.7
74.9
11.4
552.5
42.-
JANUARY
270.4
41.4
206.8
12.2
417.2
62.9
FEBRUARY
241.7
6.?
14.4
1.2
226.3
11.
MARCH
430.4
23.7
46.3
.5
331.?
35.1
APRIL
199.9
137.8
54.9
54.6
311.4
368.7
62.9
XXX
10.5
XXX
464.T
XXX
9,334.4
2,668.3
1,920.3
440.6
OVER
12 M O N T H S
TOTAL
NUMBER
OF
30
2 3 APR
YORK CITY
AMOUNT
- APR
OF
OF D E P O S I T
SANKS
*
REPORTING BANKS
/3
Z3
15,963.9^
12
TAX
AND
DIVIDEND
MATURITIES)
1-L
I N C L U D E S ONLY
CERTIFICATES
2/
SEF
APPENDIX
3/
SALES
TECHNICAL
^
FJF
<MEMORANDUM :
1/
/3
IN D E N O M I N A T I O N
OF
$ 1 0 0 , 0 0 0 OR
MORE
ISSUE!) BY W E E K L Y
R E P O R T 1NG
^
^
HANKS.
A.
OF C D ' S M A T U R I N G A F T E R
11 M O N T H S .
Digitized for*FRASER
T O T A L S MAY N O T A D D D U E TO R O U N D I N G .
'
TABLE
2B
1/
M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E
NEW Y O R K C I T Y ,
CHICAGO,
AS
OF 28
AND ALL
APR
1971
(PERCENTAGE
LU"> nA 1 UK 1Mb IN
OTHER W E E K L Y
A N D 31
31
BANKS
1971
ALL
CHICAGO
MAR
AT
DISTRIBUTION!
CITY
28 APR
MAR
REPORTING
DEPOSIT
28
APR
OTHER
2 8 APR
31 M A R
31 M A R
4.7
.0
1.4
.0
3.8
.C
25.9
29.3
20.3
21.9
25.7
32.4
02 MONTHS
20.5
14.1
20.2
13.5
20.7
16.1
MONTHS
9.5
13.0
13.8
17.0
13.7
15.9
04 MONTHS
7.0
6.9
4.5
8.2
6.2
8. 1
05 M O N T H S
7.1
6.9
4.3
4.3
6.7
5.2
06 MONTHS
6.1
7.0
9.4
4.0
5.4
5.7
07 MONTHS
2.7
5.1
4.9
8.3
3.3
3.0
08 MONTHS
3.7
2.8
3.9
5.0
3.5
2.9
09 MONTHS
2.9
3.5
10.8
3.4
2.6
3.0
10 M O N T H S
2.6
2.6
.7
10.5
1.4
2.1
11 M O N T H S
4.6
2.7
2*4
.7
2.1
1.3
12 M O N T H S
2.1
4.6
2.9
2.5
2.0
1.8
.7
1.4
.5
.6
2.9
2.4
100.0
100.0
100.0
100.0
100.0
100.0
0 - 6 DAYS
03
OVER
2/
MONTHS
01
3/
12 M O N T H S
TOTAL
1/
NEW YORK
TIME C E R T I F I C A T E S OF
*
INCLUDES ONLY CERTIFICATES
BANKS.
2 / N U M B E R OF
FOLLOWING
3/ N U M B E R
* TOTALS
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
DAYS R E M A I N I N G IN S U R V E Y M O N T H . T H I S P E R I O D V A R I E S W I T H
THE L A S T W E D N E S D A Y OF THE M O N T H .
OF M O N T H S F O L L O W I N G
MAY NOT
ADD D U E
THE
SURVEY MONTH.
TO R O U N D I N G .
BY
WEEKLY
THE N U M B E R
OF
REPORTING
DAYS
TABLE
MATURITY DISTRIBUTION
NEW
OF O U T S T A N D I N G
YORK CITY, CHICAGO,
AS
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
AND
28 A P R
ALL
1971
(CUMULATIVE
NEW
CD'S
MATURING
YORK
01
A N D 31
2/
MONTHS
4.7
3/
MAR
REPORTING
AT
BANKS
1971
DISTRIBUTION!
CITY
31
WEEKLY
1/
DEPOSIT
CHICAGO
MAR
28
.0
APR
ALL
OTHER
2 8 APR
31 MAR
31
MAR
1.4
.C
3.8
.C
30.6
29.3
21.7
21.9
29.5
32.4
02 MONTHS
51.1
43.4
41.9
35.4
50.2
43.5
03 M O N T H S
6C. 6
5 6 . 4
55.7
52.4
63.9
64.4
04 MONTHS
67.6
63.3
60.2
60 . 6
70. 1
72.5
05 M O N T H S
74.7
70.?
64.5
64.9
76.8
77.7
06
MONTHS
80.8
77.2
73.9
68.9
82.2
83.4
07 MONTHS
83.5
82.3
78.8
77.2
85.5
86.4
08 MONTHS
87.2
85. 1
82.7
82.2
89.C
89.3
09 MONTHS
90.1
88.6
93.5
85.6
91.6
92.3
10 M O N T H S
92.7
91.2
94.2
96.1
93.0
94.4
11 M O N T H S
97.3
93.9
96.6
96.8
95. 1
95. 7
12 M O N T H S
99.4
98.5
99.5
99.3
97.1
97.5
100.0
100.0
100.0
100.0
100.0
ICC .R
OF
OR M O R E
OVER
1/
DAYS
OTHFR
IN
28 APR
0-6
2C
12 M O N T H S
INCLUDES ONLY
BANKS.
CERTIFICATES
IN D E N O M I N A T I O N S
2/ N U M B E R OF
FOLLOWING
D A Y S R E M A I N I N G IN S U R V E Y M O N T H . T H I S
THE L A S T W E D N E S D A Y O F T H E M O N T H .
3/ NUMBFR
MONTHS FOLLOWING
OF
THE
SURVEY
MONTH.
$100,000
PERIOD VARIES
I S S U E D BY
WITH
WFFKLY REPORTING
THE N U M B E R
OF
DAYS
TABLE
M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME 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 BANKS BY SIZE OF B A N K S 2/
AS OF 2 8 APR 1971
( A M O U N T S IN M I L L I O N S OF D O L L A R S )
3A
DEPOSIT
1/
X
$1 BILL ION
CD'S
MATURING
IN
TOTAL
$200
MILLION
AND UNDER
$200 M I L L I O N
TO
$500 M I L L I O N
4N0i O V E R
P R I ME
$500
MILLION
TO
$1 B I L L I O N
O U T S I OF
NEW YORK
CITY
TOTAL
MFW
YORK
CITY
1971
3/
NON-PR IMF
1,063.3
66. 5
130.3
149.3
717.2
421.5
182.3
113.4
MAY
6,909.1
500. 1
990.5
1,104.2
4,314.3
2,338.*
1,102.4
873.4
JUNE
5,605.8
386. 5
BBD .9
930.8
3,407.6
1,837.?
1,017.1
553.2
JULY
3,340.3
227.4
562.2
548.4
2,002.3
851.6
746.4
404.3
AUGUST
1,726.3
132.3
248.5
244.2
1, 101.3
602.R
282.6
216.7
SEPTEMBER
1,820.7
118.9
228.4
293.0
I,180.4
628.9
329. 1
222.4
OCTOBER
1,611.9
100.8
239.7
212.7
1,058.7
528.5
341 . 8
188.4
NOVEMBER
878.1
48.5
107.7
170.1
551 . 8
242.5
190.9
118.4
DECEMBER
975.0
36.3
92.6
130.5
715.6
317.7
20 1. 3
196.6
894.4
40.5
72.5
130.7
650.7
263.1
257.3
130.3
FEBRUARY
482.9
30.7
31.4
82.8
339 .0
205. 5
54.5
78.0
MARCH
807.9
30*4
44.6
87.5
645.4
40 5.0
157.1
83.3
APRIL
566.1
25.2
58.3
52.4
430.2
144.8
164. 8
12G.6
MAY
OR
537.3
26.3
51.8
131.6
327.6
61.3
196.5
69.8
27,219.1
1,770.4
3,739.4
4,268.2
17,441.1
8,048.2
5,224.1
3,368.8
APR
29-30
1972 J A N U A R Y
LATER
TOTAL
*
A kin
,
# u r* y n O A Kl f*\ i IJUl •
TAX
n i t /1 NCMN
MATIID r T IPQ
JUNE
10
300.0
17.9
51.5
31.7
198.9
125.2
49.2
24.5
JUNE
15
996. 0
29.4
63.9
107.9
794.8
525.4
184.1
85.3
50
37
7
12
18
1 ncnunMiHi.MJn •
255
1/
INCLUDES C E R T I F I C A T E S
IN D E N O M I N A T I O N S OF
http://fraser.stlouisfed.org/
*
T O T A L S M A Y N O T A D D CUE TO R O U N D I N G .
Federal Reserve Bank of St. Louis
84
$100,000 OR MORE
84
I S S U E D BY W E E K L Y
REPORTING
BANKS.
AND WHICH ARB
SALES
T A B L E 3B
Z1Z 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 UF D E P O S I T S I N C E P R E V I O U S
AT W E E K L Y R E P O R T I N G B A N K S 8Y S I Z E OF B A N K S 3/
AS OF 28 APR 1971
( A M O U N T S IN M I L L I O N S OF D O L L A R S )
MONTH
SI
CD'S
1971
1972
MATURING
APR
IN
TOTAL
$200
MILLION
AND UNDER
2/
BILLION
PRIME
$500
MILLION
TO
$1 B I L L I O N
MILLION
TO
$500 MILLION
$200
A M D OVER
4/
OUTSIDE
NEW YORK
CITY
N O N - P R IME
NEW Y O R K
CITY
TOTAL
29-30
MAY
2,695.2
164.3
306.6
384.7
1,839.6
1,147.2
295.7
396.7
JUNE
1,455.5
85.3
152.7
166.6
1,048.9
754.9
191.C
103.0
JULY
1,211.9
105.5
236.3
234.6
635.5
258.1
225.6
151.8
AUGUST
160.5
21.3
26.9
27.2
85. 1
43. 6
25.6
15.9
SEPTEMBER
159. 8
11.8
25.0
36.9
86.1
36.1
28.9
21.1
OCTOBER
499.1
46.9
119.5
87.9
244.8
85.2
82.5
77. 1
NOVEMBER
58.4
8. 5
13.9
22.6
13.4
4.9
3.4
5.1
DECEMBER
94.0
3. 9
8.9
6. 1
75.1
40.6
24.9
9.6
116.8
3.6
1C.5
25.4
77. 3
35.5
28.0
13.8
FEBRUARY
18.5
1.4
1.3
3.9
11.9
5.2
5.2
1.5
MARCH
59.3
2.6
4.5
12.0
40.2
21.?
15.8
3.2
561.0
24. 7
57.6
70.5
408.2
85.4
201.1
121.7
7,090.0
479.8
963.7
1,0 8 C .4
4,566.1
2,517.9
1,127.7
92 0 . 5
33. 3
3.7
2.1
JANUARY
APRIL
OR L A T E R
TOTAL
*
TAX
JUNE
1C
49.6
JUNE
15
356.0
2.38.6
84
DIVIDEND
MATURITIES!
9.7
3.1
39.1
14.0
13.0
320.4
282.1
26.7
1 1.6
37
7
12
18
KILLMTLLD
nc
iNUritJCK Ur
(MEMORANDUM:
255
AND
84
R
A M V Q t1
nAiNNo
50
—
—
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 OF $ 1 0 0 , 0 0 0 CR M O R E I S S U E D RY W E E K L Y R E P O R T I N G B A N K S .
3 / T O T A L D E P O S I T S AS R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 .
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 ARE R E G A R D E D AS B E I N G OF THF H I G H E S T
R E P O R T E D BY D E A L E R S T O T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T .
*
T O T A L S M A Y N O T A D D D U E TO R O U N D I N G .
QUALITY
AND
WHICH
ARE
TABLE
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
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 28 APR 1971
PERCENTAGE DISTRIBUTION
DEPOSIT
1/
SI B I L L I O N
CD'S
MATURING
IN
TOTAL
$200
MILLION
A N D UNDER
$200
MILLION
TO
$500 M I L L I O N
$500
MILLION
TO
$1 B I L L I O N
PR I MF 3/
TOTAL
NFW Y O R K
CITY
1971
1972
APR
29—30
A N D OVER
OUTSIDE
NCW YORK
CITY
NON-PRTME
3. 9
3.8
3. 5
3.5
4. 1
4. 8
3.5
3.4
MAY
25.4
28.2
26.5
25.9
24.7
26.4
21.1
25.9
JUNE
20.6
21.8
23.6
21.8
19. 5
20 . 8
19. 5
16.4
JULY
12. 3
12.8
15.0
12.8
11.5
14.3
12.0
9. 6
AUGUST
6. 3
7. 5
6.6
5.7
6.3
6. 8
5.4
6.4
SEPTEMBER
6.7
6. 7
6.1
6.9
6.8
7. 1
6.3
6.6
OCTOBER
5.9
5. 7
6.4
5.0
6.1
6. C
6. 5
5.6
NOVEMBER
3.2
2.7
2.9
4.0
3.2
2.7
3.
7
3.5
DECEMBER
3.6
2.1
2.5
3.1
4. 1
3.6
3.
9
5. 8
JANUARY
3.3
2.3
1.9
3.1
3.7
3.C
4.9
3.9
FEBRUARY
1.8
1.7
0.8
1.9
1.9
2. 1
1.0
2.3
MARCH
3.0
1.7
1.?
2.1
3.7
4.6
3. 0
2.5
APRIL
2. 1
1.4
1.6
1.2
2.5
1.6
3.2
3.6
MAY
OR L A T E R
2.0
1.5
1.4
3.1
1 .9
0.7
3.8
2.1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
TOTAL
*
(MEMORANDUM:
TAX
AND
DIVIDEND
MATURITIES)
JUNE
10
1.1
1.0
1.4
0.7
1.1
1.4
0.9
0.7
JUNE
15
3. 7
1.7
1.7
2.5
4.6
5.9
3.5
2.5
1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF * 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S .
2/ T O T A L D E P O S I T S AS R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 .
3/ P R I M E B A N K S A R E T H O S E WHOSE N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G OF THE H I G H E S T
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 E A C H OTHER W I T H I N THE S E C O N D A R Y M A R K E T .
*
T O T A L S M A Y N O T A D D D U E TO R O U N D I N G .
'DUAL ITY A N D
WHICH
ARE
TABLE 3D
M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF
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 ?/
AS O F 2 8 APR 1971
CUMULATIVE PERCENTAGE
DEPOSIT
1/
SI B I L L I O N
$200
CD*5
MATURING
IN
TOTAL
(200 M I L L I O N
JJILLION
$500
T L B
MILLION
™
L I 0 N
PRIME
1972
APR
29-30
3/
TOTAL
OU7S7D7
NEW YORK
CITY
1971
AND OVER
NON-PRIME
NEW YORK
CITY
3.9
3.8
3.5
3.5
4.1
4.8
3.5
3.4
MAY
29.3
32.0
30.0
29.4
?8.8
31. 2
24.6
29.3
JUNE
49.9
53. 8
53.6
51.2
48.3
52.0
44. 1
45.7
JULY
62.2
66.6
68.6
64.0
59.8
61.6
58.4
57.7
AUGUST
68.5
74.1
75.2
69.7
66.1
63.4
63.8
64.1
SEPTEMBER
75.2
80.8
81.3
76.6
72.9
75.5
70.1
70.7
OCTOBER
81.1
86.5
87.7
81.6
79.0
81.5
76.6
76.3
NOVEMBER
84.3
89.2
90.6
85.6
82.2
84.2
80.3
79.8
DECEMBER
87.9
91.3
93.1
88.7
86.3
87.8
84.2
85.6
JANUARY
91.2
93.6
95.0
91.8
90.0
90.8
89.1
89.5
FEBRUARY
93.0
95. 3
95.8
93.7
91.9
93 *i
90.1
91.8
MARCH
96.0
97.0
97.0
95.8
95.6
97.7
93.1
94.3
APRIL
98.1
98.4
9FT.6
97.0
98.1
99.3
96.3
97.9
100.0
100.G
100.0
100.0
100.0
100.0
100. 0
100.0
M AY
OR L A T E R
1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S .
2/ T O T A L D E P O S I T S AS R E P O R T E D IN THE C A L L R E P O R T OF C O N D I T I O N ON D E C E M B E R 31, 1 9 6 5 .
3/ P R I M E B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D 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 OTHER 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
TABLE
s ,L E S
3E
n,
OF " = = " ; ; « ; ^ K L T ; " | E ^ ; ; | ^ / f l ^ s 0 L D ! ; z ° E , i F s » M S ™ z v ' o u s " ° N , H "
AS OF 2 8 APR 1971
PERCENTAGE DISTRIBUTION
$1 B I L L I O N
CD'S
MATURING
1971
APR
IN
TOTAL
$500 MILLION
$500 MILLION
TO
$1 B I L L I O N
$200 M I L L I O N
$200
MILLION
A N O UNDER
TO
A N D OVER
P R I M E 4/
TOTAL
NEW YORK
CITY
OUTSIDE
NEW YORK
CITY
29-30
NON-PRIME
34.2
31.9
35.6
40. 3
26.2
43. 1
38.0
45.6
MAY
17.8
15.8
15.6
23.0
16.9
11.2
20.5
30.0
JUNE
22.0
24.5
21.7
13.9
20.0
16.5
17.1
10. 3
JULY
4.4
2.8
2.5
1.9
2.3
1.7
2.3
1.7
AUGUST
2.5
2.6
3.4
1.9
2.6
2.3
2.3
1.4
SEPTEMBER
9. 8
12.4
8.1
5.4
7.3
8.4
7.0
3.4
OCTOBER
1.8
1.4
2.1
0.3
0.3
C.6
0.8
0.2
NOVEMBER
0.8
0.9
0.6
1.6
2.2
1.0
1.3
1.6
DECEMBER
0.8
1.1
2.4
1.7
2.5
1.5
1.6
1.4
JANUARY
G.3
0.3
0.1
0.4
0.3
0.2
0.5
0.2
FEBRUARY
0.5
1.1
0.8
0.3
0.5
1.4
0.8
0.9
MARCH
APRIL
OR L A T E R
5. 1
6.0
6.5
8.9
3.4
17.8
13.2
7.9
100.0
100.c
TOTAL
*
100.0
(MEMORANDUM:
JUNE
10
0.7
JUNE
15
5.0
100.0
TAX
1.0
0.3
1.8
1.5
1.2
i
Digitized for* FRASER
T O T A L S M A Y N O T A D O DUE TO R O U N D I N G .
84
NUMBER
84
100.0
100.0
1.3
0.3
0.2
11.2
2.4
1.3
100.9".
DIVIDEND MATURITIFS)
0.5-
(MEMORANDUM:
255
AND
100.0
0.9
7,0
OF B A N K S )
50
37
12
18
---
TABLE
4A
AVERAGE MATURITY
OF
OUTSTANDING
NEGOTIABLE TIME CERTIFICATES
AT
WEEKLY REPORTING
AT V A R I O U S
SURVEY
OF
DEPOSIT
1/
BANKS
DATES
(IN M O N T H S )
DATE
OF
SURVEY
BANK CLASSIFICATION
28 APR
1971
31
(BY
ALL
REPORTING
ISSUING
MAR
1971
2 4 FEB
1971
LOCATION)
BANKS
CD'S
3.4
3.4
3.1
3.4
3.7
3.0
CHICAGO
3.9
4.1
3.9
OTHER
3.3
3.1
3.1
NEW
YORK CITY
(BY
UNDER
2.9
2.9
$200-1500 MILLION
2.9
2.9
3.0
$500-$1,000
3.3
3.2
3.1
3.6
3.6
3.2
3.3
3.7
2.9
3.8
3.6
3.4
3.7
3.4
3.2
$1
MILLION
B A N K 1 2/
3.0
OVER
$200
SIZE OF
MILLION
BILLION
PRIME
IN NEW
PRIME OUTSIDE
YORK C I T Y 3/
NEW
YORK CITY
3/
NON-PRIME
IT
INCLUDES CERTIFICATES
IN D E N O M I N A T I O N S OF
2/
TOTAL
3/
P R I M E B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS B E I N G DF THE H I G H E S T X J A L I T Y A N D
W H I C H ARE R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 0 % 2 B A S I S P O I N T S OF F A C H O T H E R W I T H I N THE S E C O N D A R Y M A R K E T .
D E P O S I T S AS R E P O R T E D
IN THE
CALL
$ 1 0 0 , 0 0 0 OR
REPORT
MORE
(IF C O N D I T I O N
ISSUED
BY
WEEKLY
ON D E C E M B E R
31,
REPORTING
HANKS.
1965.
T A B L E 48
AVERAGE
MATURITY
OF
NEGOTIABLE
TIME C E R T I F I C A T E S OF
SOLD BY W E E K L Y
DURING
DEPOSIT
1/
REPORTING BANKS
THE M O N T H OF
VARIOUS SURVEYS
(IN M O N T H S )
{)ATE
BANK C L A S S I F I C A T I O N
—
~
0 F
SUR
VEY
VLTLTLVRL
ALL R E P O R T I N G B A N K S
ISSUING CD'S
NEW YORK CITY
CHICAGO
2.9
3-8
2.3
/
5*0
3.4
5.0
4*2
'
3
*8
CHE,
(BY S I Z E O F
UNDER
OVER
MILLION
$1 B I L L I O N
PRIME
IN NEW
PRIME OUTSIDE
YORK C I T Y 3 /
NEW
YORK C I T Y 3/
2/
,„CVU0B5
TOTAL
c
W
,.M»ri"s
.. 0 E N 0 „ , ™ n = , , s o F
D E P O S I T S AS R E P O R T E D
2 .8
3 0
2.5
2'5
•> O
2.9
pa
4.4
IN THE C A L L
2 , 1
5
,io„,-oo ,»
»=«
3 > C
3.5
'°
4 , 3
4.2
33
NON-PRIMF
1/
2.7
3 , U
$200-$500 MILLION
$5C0-$1tOOO
jo
<Z,B
$200 M I L L I O N
B A N K ) 2/
3.0
2•S
ISSUED „
R E P O R T OF C O N D I T I O N OK D E C E M B E R
A
T H
3/
: V I C L A R FREPORT E D°BY S K L V S * " O ' A L O L ^ K ^ X V E A S ! ^
http://fraser.stlouisfed.org/
m nBank
T E —of
S ESt.
E Louis
T E C H N I C A L A P P E N D I X B.
Federal Reserve
31.
1965.
MARKET.
TABLE
R A T I O OF
OUTSTANDING
NEGOTIABLE
TO
AT
TIME C E R T I F I C A T E S
TOTAL
VARIOUS
(PER
5A
ALL
BANKS
CO* S
28
APR
ISSUING
SURVEY DATES
CENT)
31
1971
OF
MAR
SURVEY
2 4 FEB
1971
1971
10.8
10.8
11.4
9.5
10.0
10.6
200 -
500
10.2
10.4
10.8
500 -
1000
9.6
9.9
10.6
11.5
11.2
11.8
13.2
14. T
3.5
8.8
9.1
11.2
11.8
13.1
1000
YORK
PRIME OUTSIDE NEW
£
IN N E W
3/
YORK
3/
NONPRIME
INCLUDES C E R T I F I C A T E S
DEPOSITS AS
IN D E N O M I N A T I O N S
REPORTED
IN THE
CO
200
PRIME
2/ TOTAL
1/
UNDER
OVER
1/
DEPOSIT
DEPOSITS
DATE
T O T A L D E P O S I T S 2/
(IN M I L L I O N S OF D O L L A R S )
OF
CALL
OF
$100,000
REPORT
OF
OR
MORE
CONDITION
ISSUED
BY W E E K L Y R E P O R T I N G
CN D E C E M B E R
31,
BANKS.
1965.
3/ P R I M E B A N K S A R E T H O S E WHOSE N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T A R E R E G A R D E D AS B E I N G OF THE H I G H E S T Q U A L I T Y A N D
W H I C H ARE R E P O R T E D BY D E A L E R S TO T R A D F 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 OTHER W I T H I N THE S E C O N D A R Y M A R K E T .
NOTE-
D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O
INTERBANK AND U.S. GOVERNMENT DEPOSITS.
IN T H I S
TABLE
ARE
TOTAL
D E M A N D AND
TIME
DEPOSITS,
INCLUDING
TABLE 5 8
R A T I O OF
OUTSTANDING
NEGOTIABLE
TIME C E R T I F I C A T E S
TO T O T A L
AS OF
TOTAL
DEPOSITS
(IN M I L L I O N S OF
ALL B A N K S
CD'S
DOLLARS)
ISSUING
OF
1971
BANKS I
20
15
TO
10
5
TO
10%
5%
OR
LESS
2/
1/
DEPOSITS
28 APR
(NUMBER
OF D E P O S I T
TO
20%
15%
AVERAGE
25%
OR
MORF
TO
25%
61
63
55
37
11
10. t
UNDER
200
20
35
18
5
3
4
9.5
200 -
500
25
22
15
14
3
5
10. 2
500 -
1000
11
13
15
9
2
0
9.6
5
13
7
9
3
0
11.5
0
I
3
3
0
0
14. 8
2
6
1
3
0
n
8.5
3
6
3
3
3
0
11.2
OVER
1000
PRIME
IN NEW
YORK
P R I M E OUTSIDE NEW
3/
YORK
3/
NONPRIME
1/
INCLUDES CERTIFICATES
2/ T O T A L
NOTE-
D E P O S I T S AS
DEPOSITS
INTERBANK
IN T H E
IN D E N O M I N A T I O N S OF
REPORTED
IN
DENOMINATOR
THE CALL
OF
THE
*100.000
REPORT
RATIO
AND U.S. GOVERNMENT DEPOSITS.
IN
OF
OR
MORE
ISSUED
C O N D I T I O N ON
THIS
TABLE
BY W E E K L Y
DECEMBER
ARE T O T A L
31,
CO
TO n r P Q S I T
R A T I O (PER C E N T )
REPORTING
OANKS.
1965.
D E M A N D AND
TIME
CE»0SITS,
INCLUDING
TABLE
PER C E N T C H A N G E
5C
IN O U T S T A N D I N G N E G O T I A B L E
31 MAR
1971
TIME
TO 2 8 APR
(NUMBER O F
C E R T I F I C A T E OF D E P O S I T
1971
BANKS)
I N C R E A S E S OF
D E C L I N E S OF
TOTAL
DEPOSITS
(IN M I L L I O N S
ALL
OF
REDUCED
C D ' S TO
ZERO
2/
DOLLARS)
B A N K S ISSUING
CD' S
UNDER
200
200 - 5 0 0
500 - 1000
OVER
1000
PRIME
IN N E W
YORK
PRIME OUTSIDE NEW
3/
YORK
3/
NONPRIME
1/
INCLUDES CERTIFICATES
2/ TOTAL
3/
5JS OR
LESS
51 OR
LFSS
NO
CHANGE
33
16
15
0
7
7
6
1
0
16
18
17
6
11
8
8
C
0
15
10
8
2
7
3
5
c
0
0
11
6
5
0
7
6
2
0
0
0
1
0
3
2
1
0
0
3
3
1
0
3
1
1
0
0
0
8
3
3
c
1
3
0
0
IN THE C A L L
S m L S S . T c S . s ' o N ^ E
21
24
32
I S S U E D C O ' S BUT
HAD NONE O U T S T A N D ING ON BASE DATE
45
$100,000
REPORT
OF
CR
MORE
CONDITION
ISSUED
BY W E E K L Y R E P O R T I N G
ON D E C E M B E R
31,
1965.
"?ilN I S A 5S S 2 0 5ASiS 0 ^N?5 e o? C ?;SS e Sr2lR B S I i?Si^ F rJE E s2iSS;"Jv 0 "it«?.
ST O T H E R
«
10? OR
MORE
50
P R I M E B A N K S ARE T H O S E WHO LSEERSETUTIRADE
W H I C H A R E R E P O R T E D BY DEAL
NOTE-
5 TO
10%
75
IN D E N O M I N A T I O N S OF
D E P O S I T S AS R E P O R T E D
5 TO
10%
10% OR
MORE
/I
:KVs«F,Vv"Ei5c"o™".,NOU!!0Sr,Nni™OS
TABLES TO THE
Tfl ZE«0 ON
EXTENT
,H,S
THAT B A N K S
SURVEY.
THAT
TABLE
PER C E N T C H A N G E
IN O U T S T A N D I N G
27
JAN
NEGOTIABLE
1971
TO
(NUMBER
TOTAL
(IN
ALL
REDUCED
C D ' S 25%
TO
OR
ZERO
MORE
DEPOSITS /2
MILLIONS OF
DOLLARS I
BANKS ISSUING
CD1 S
DECLINES
20
25%
TIME
28 APR
OF
C E R T I F I C A T E OF
TO
15%
DEPOSIT
/I
1971
BANKS I
INCREASE
OF
10
15
TO
20*
TO
50
5
TO
10%
5%
NO
CR
LESS
CHANGE
29
22
21
29
32
27
15
10
5
TO
5%
OR
LESS
10%
OF
PC
25%
OR
MORE
TO
TO
TO
15%
?or
25?
14
16
15
11
ISSUED
CD* S B U T H A D
NONE
OUTSTANDING
ON BASE D A T E
23
UNDER
200
0
13
6
8
9
9
12
C
4
3
5
4
3
8
1
200 -
500
0
10
7
3
9
8
8
3
7
7
4
1
5
11
1
500 -
1000
0
3
4
6
6
11
4
1
1
3
3
3
I
2
2
0
3
5
4
5
4
3
0
2
3
3
3
0
2
0
0
0
1
0
0
0
1
0
0
1
1
1
G
2
0
C
0
3
2
0
1
2
0
1
1
1
1
0
0
C
0
3
I
2
5
3
0
0
1
1
1
1
C
R
0
ISSUED
BY W E E K L Y
OVER
10C0
PRIME
IN N E W
YORK
PRIME
O U T S I D E NEW
3/
YORK
3/
NONPRIME
1/
INCLUDES C E R T I F I C A T E S
2/
TOTAL
3/ P R I M E
WHICH
NOTE-
DEPOSITS AS
IN D E N O M I N A TIONS
REPORTED
IN THE C A L L
OF
$100 ,000
REPORT
OF
OR
MORE
CONDITION
ON D E C E M B E R
31,
REPORTING
1965
BANK S •
•
B A N K S A R E T H O S E WHOSE NEGOT I ABLE 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
ARE R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 OP 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 ; N THE S E C O N D A R Y M A R K E T
THE N U M B E R OF B A N K S IN THIS
H A D O U T S T A N D I N G C D ' S ON THE
O U T S T A N D I N G S TO Z E R O .
TABLE D I F F E R S F R O M T H O S E IN M O S T O T H E R T A B L E S TO THE F YTFNT THAT
S U R V E Y THREE M O N T H S PR I CP T0 THE C U R R E N T S U R V E Y , R E D U C ED THF IH
BANKS
THAT
AND
TABLE 5 E
CHANGE
IN O U T S T A N D I N G N E G O T I A B L E
OVER
THE MONTH AS A PES CENT
AT THE B E G I N N I N G
31 MAR
TOTAL D E P O S I T S 2/
OF
OF
TOTAL
CF THE
1971 TO 28 APR
(NUMBER
3%
AND
OVER
2
TO
3%
1
TO
2X
1/
DEPOSITS
PERIOD
1971
RANKS)
D E C L I N E S OF
C IN MILLIONS OF D O L L A R S )
ALL BANKS
CD'S
TIME C E R T I F I C A T E S OF D E P O S I T
I N C R E A S E S OF
1%
AND
LESS
NO
CHANGE
If
AND
LESS
1
TO
2%
2
TO
31
3%
AND
OVER
ISSUING
6
10
43
110
8
59
14
2
3
200
3
2
17
42
0
14
4
0
2
200 - 500
1
3
11
36
6
20
5
2
C
500 - 1000
1
3
9
19
2
13
3
0
0
OVER 1000
1
2
6
13
0
12
2
0
1
4
1
5
C
3
1
UNDER
PRIME
IN NEW YORK 3/
PRIME O U T S I D E NEW
YORK
0
3
NONPRIME
1/
INCLUDES C E R T I F I C A T E S
2/ TOTAL
/
0
0
1
0
1
1
IN THE CALL
2
4
4
IN D E N O M I N A T I O N S OF
D E P O S I T S AS R E P O R T E D
1
0
0
8
$100,OCO
OR
MORE
0
ISSUED
0
O
31,
O
0
BY WEEKLY R E P O R T I N G
REPORT OF C O N D I T I O N ON DECEMBER
1
0
BANKS.
1965.
3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BFING OF THE HI",HE ST Q U A L I T Y AND
W H I C H ARE R E P O R T E D BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET .
NOTE-
D E P O S I T S IN THE D E N O M I N A T O R OF THE R A T I O
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 APE
TOTAL
DEMAND AND TIME
DEPOSITS,
INCLUDING
T A B L E 5F
CHANGE
OVER
IN O U T S T A N D I N G N E G O T I A B L E
THE
LAST
THREE
AT
MONTHS
THE
27
AS A PER
BEGINNING
JAN
1971
(IN
DEPOSITS
M I L L I O N S OF
DECLINES
2/
5%
DOLLARST
AND
OVER
ALL
BANKS
CD'S
ISSUING
CF T H E
OF
DEPOSIT
1/
TOTAL DEPOSITS
PERIOD
1971
BANKS >
INCREASES
OF
2
TO
3%
3
TO
4%
4
TO
51
C E N T OF
T O 2 8 APR
(NUMBER
TOTAL
TIME C E R T I F I C A T E S OF
1
TO
2%
1%
NO
CHANGE
1%
AND
LESS
2%
5*
AND
OVER
4
TO
5%
3
TO
4%
2
TO
3*
1
TO
AND
UNDER
OF
3
8
9
29
41
70
4
37
24
11
8
5
3
UNDER
200
0
3
3
9
14
28
0
10
6
3
5
2
1
200 -
500
3
1
0
7
15
19
3
15
10
4
3
2
1
500 -
1000
0
3
0
8
11
12
1
7
4
2
0
0
0
0
1
6
5
1
11
0
5
4
2
0
1
1
0
0
0
1
0
1
0
0
2
1
0
1
1
0
0
I
2
I
4
0
2
1
1
0
0
0
0
I
5
2
0
6
0
3
1
0
a
0
0
OVER
1000
PRIME
IN N E W
YORK
PRIME
OUTSIDE NEW
3/
YORK
3/
NONPRIME
1/
INCLUDES
CERTIFICATES
AS
IN D E N O M I N A T I O N S
REPORTED
IN THE
CALL
OF
$1UC
REPORT
,000
OF
OR
MORE
CONDITION
ISSUED
ON
BY W E E K L Y
DECEMBER
31,
REPORTING
BANKS .
19 6 5 .
2/ T O T A L
DEPOSITS
3/ P R I M E
WHICH
B A N K S A R E T H O S E W H O S E N E G O T I A B L E C E R T I F I C A T E S OF D E P O S I T ARE R E G A R D E D AS 3 F I N G OF THF H I G H E S T Q U A L I T Y A N D
A R E R E P O R T E D BY D E A L E R S TO T R A D E W I T H I N 1 OR 2 B A S I S P O I N T S OF E A C H O T H E R W I T H I N T H E S E C O N D A R Y M A R K E T .
NOTE-
D E P O S I T S IN T H E D E N O M I N A T O R OF THE R A T I O
INTERBANK AND U.S. GOVERNMENT DEPOSITS.
IN THIS
TABLE ARE
TOTAL
D E M A N D AND
TIME
DEPOSITS,
INCLUDING
TABLE
MATURITY
DISTRIBUTION
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 F E D E R A L R E S E R V E D I S T R I C T
AS
(AMOUNTS
OF
28 APR
IN M I L L I O N S
OF
DEPOSIT
1/
1971
OF
DOLLARS!
ST.
LOUIS
MINNEAPOLIS
KANSAS
CITY
DALLAS
SAN
FRANCISCO
96.0
4.9
6.2
28.0
67. C
157.3
261.8
714.5
140.0
84.9
162.6
581.4
1018.7
172.1
225.4
649.2
121.3
53.5
153.3
272. 5
875.9
231.9
120.2
142.2
473.7
64. 4
27.2
94.7
267. 5
520.4.
48.9
73.6
48.2
71.7
174.8
37. 3
22.7
45.7
125. 7
244.8
767.7
52.1
76.9
83.9
69.9
174.7
18.7
12.9
54.5
115. 1
325.4
124.9
651.1
23.8
1C1.3
70.7
40. 1
250.4
20.9
12.2
42.6
99. 3
174.4
878.1
85.0
301.5
30.5
34.9
12.0
34.9
135.5
19.5
6.5
20.1
69. 4
128.3
DEC
975.0
63.6
410.6
65.7
35.8
10.2
21.4
114.4
30.8
22.2
13.3
64. 0
123.0
1972 J A N
894.3
20.5
297.1
58.4
34.9
14.0
24.2
254.5
18.9
11.2
12.1
77. 0
71.5
FEB
482.9
8.0
251.4
14.5
18.9
9.9
16.8
31.2
5.1
12.7
8.3
41.5
64.6
MAR
807.9
12.0
449. 3
23.6
52.6
6.2
19.4
66.1
18.5
6.8
9.2
51.3
92.9
APR
566.2
7. 1
220.6
17.6
77.2
9.6
16.3
67.9
2.0
4.4
12.2
32.2
99.1
M A Y OR L A T E R
537.3
49. 8
96.0
15.1
126.4
24.9
26.8
53.0
6.6
4.0
6.4
12.2
116.1
27219.4
1466.9
11076.0
850.3
1442.6
780.9
998. 5
3255.9
508.9
287.4
663. 5
1876.1
4012.4
AVERAGE MATURITY
IN M O N T H S 2/
3.3
3. 1
3.3
3.6
4.3
3.1
3. 1
3.6
3.2
3.5
2.9
3.2
3.2
NUMBER OF REPORTING
BANKS
255
18
44
10
18
16
24
35
11
5
19
23
32
CD'S
ALL
01 STRICTS
BOSTON
1063.4
63.8
MAY
6909.1
JUN
MATURING
1971
IN
PHILADELPHIA
CLEVELAND
RICHMOND
ATLANTA
490.7
30.2
65.8
25.9
27.6
359.1
2904.6
240.0
268.4
173.1
5606.0
332.6
2353.5
152.2
244.0
JUL
3340.5
194.5
1126.1
77.7
AUG
1726.4
77.2
755.8
SEP
1820.6
68. 8
OCT
1611.7
NOV
APR
TOTAL
29-APR
30
*
1/
INCLUDES ONLY
CERTIFICATES
2/
SEE
APPENDIX
•
6A
TECHNICAL
DETAILS
MAY NOT
A D D TO
ISSUED
NEW
YORK
IN D E N O M I N A T I O N S
B.
TOTALS DUE
TO R O U N D I N G .
OF
$ 1 0 0 , 0 0 0 OR
MORE
CHICAGO
RY W F F K L Y
REPORTING
BANKS.
TABLE
1/
S A L E S OF
NEGOTIABLE
2/
T I M E C E R T I F I C A T E S OF D E P O S I T
WEEKLY R E P O R T I N G B A N K S
FLY F E D E R A L R E S E R V E D I S T R I C T
AS OF 2 8
(AMOUNTS
APR
SINCE PREVIOUS
MONTH
1971
IN M I L L I O N S OF
DOLLARS!
MINNEAPFLL I S
KANSAS
CITY
DALLAS
SAN
FRANCISCO
53.5
16.5
54. 2
279. 3
243 .8
115.8
13.5
16.4
26.3
42. 8
162.3
59.2
22C.9
25.5
A .4
34.2
106. 5
143.9
1.7
7. 7
22.9
4.0
4.0
2.3
18. 1
17.4
4.6
6.8
6.1
13.1
1.0
0.9
4.9
3.5
27.2
6.3
52.9
29.3
23.2
59.7
9.4
7.5
20.0
44. 9
71.9
20.4
5.4
4.6
2.3
3.4
3.8
1.0
1.0
1.3
2.8
4.9
10.3
43.4
8.3
2.0
2.0
3.4
14.1
0.3
2.0
0.8
1.9
5.6
116.6
6.5
52.2
2.1
13.9
2.2
1.4
20.7
2.6
2.9
1.6
2. 4
9.1
. FEB
18.6
0.0
7.2
O.C
1.5
0.2
1.4
3.7
0.0
0. 0
0.7
1.1
2.8
MAR
59.4
0. 3
25.6
10.6
0.1
3.2
2.6
0.4
3. 1
0. 8
3.8
8.9
560.9
8.5
170.0
17.3
113.8
11.4
15.1
68.2
4.3
5. 1
12.4
25.7
109.1
7089.8
357.5
3272.3
197.1
398.7
176.2
243.7
762.8
115.5
67 .?
159.5
53?. 8
805.9
2.8
2.5
2.3
2.%
5.5
3.0
2.9
3.2
2.3
3. 7
3.0
2. 3
3.5
CD'S
ALL
DISTRICTS
BOSTON
MAY
2694.9
127.5
JUN
1455.3
JUL
MATURING
1971
1972
TOTAL
IN
CLEVELAND
RICHMOND
ATLANTA
1392.7
83.2
71.0
63.7
92.2
217.3
65.8
863.7
39.9
55.7
25.7
27.4
1212.C
82.9
411.2
26.8
61.7
30.8
AUG
160.4
9.2
59. 7
7.0
6.4
SEP
160.0
9.2
81.9
0.8
OCT
499.1
29.7
144.3
NOV
58.5
7.6
DEC
94.1
JAN
OR
LATER
*
AVERAGE MATURITY
IN M O N T H S 3/
1/ S E E
CHICAGO
PHILADELPHIA
APR
TECHNICAL
2/
INCLUDES
3/
SEE
*
68
ONLY
TECHNICAL
DETAILS
MAY NOT
APPENDIX
o.c
ST.
LOUIS
A.
CERTIFICATES
APPENDIX
NEW
YORK
ISSUED
IN D E N O M I N A T I O N S CLF $.100,000 OR
B.
A D D TO T O T A L S
DUE
TO R O U N D I N G .
MORE
BY
WEEKLY
REPORTING
RANKS.
TABLE
MATURITY
DISTRIBUTION
OF
6C
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
28
(PERCENTAGE
APR
C E R T I F I C A T E S OF
DEPOSIT
1/
1971
DISTRIBUTION)
ST.
LOUIS
MINNEAPOLIS
KANSAS
C I TY
DALLAS
SAN
FRANCISCO
2.9
L.C
2.2
4.2
3.6
3.9
26.2
21.9
27.5
29.5
24.5
31.0
25.4
22.0
22.6
19.9
23.FI
19.6
23.2
I 4. 5
21.8
16.1
15.4
14.2
14.5
12.7
9.5
14.3
14.3
13.0
5.8
5.1
6.2
7.2
5.4
7.3
7 .9
6.9
6. 7
6.1
6.9
6.1
5.3
10.7
7.0
5.4
3.7
4.5
8.2
6. 1
8.1
8.5
5.9
2.8
7.0
9.1
4.0
7.7
4.1
4.2
6.4
5.3
4.3
3.2
5. 8
2.7
3.6
2.4
1.5
3.5
4.2
3.8
2.3
3.0
3.7
3.2
DEC
3.6
4.3
3.7
7.7
2.5
1.1
2. 1
3.5
6.1
7.7
2.0
3.4
3.1
1972 J A N
3.3
1.4
2.7
6.9
2.4
1.8
2.4
7.8
3.7
3.9
1.8
4. 1
1 .8
FEB
1.8
0.5
2.3
1.7
1.3
1.3
1.7
1.0
1.0
4.4
1.3
2. ?
1.6
MAR
3.0
0.8
4. 1
2.8
3.6
0.8
1.9
2.0
3.6
2.4
1.4
2.7
2.3
APR
2.1
0.5
2.0
2.1
5.4
1.2
1.6
2.1
0.4
1. 5
1. 8
1.7
2.5
M A Y OR LATER
2.0
3.4
0. 9
1.8
8.8
3.2
2.7
1.6
1 .3
1.4
1.0
0. 7
2 .9
100.0
100.0
100.0
100.0
100.0
100 .0
100.0
100.0
100 .0
lob.o
100.0
OR M O R E
BY W E E K L Y
CD'S
1971
TOTAL
1/
MATURING
IN
ALL
DISTRICTS
BOSTON
3.9
4. 3
MAY
25.4
JUN
PHILADELPHIA
CLEVELAND
RICHMOND
ATLANTA
4.4
3.6
4.6
3.3
2.8
24. 5
26.2
28.2
18.6
22.2
20.6
22. 7
21.2
17.9
16.9
JUL
12.3
13.3
10.2
9.1
AUG
6.3
5. 3
6. 8
SEP
6.7
4.7
OCT
5.9
NOV
APR
29--APR
30
*
INCLUDES
ONLY CERTIFICATES
ISSUED
NEW
YORK
IN D E N O M I N A T I O N S
OF
$100,000
CHICAGO
REPORTING
BANKS.
1O0.
G
1
j0 . 0
.R
TABLE
60
M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E T I M E C E R T I F I C A T E S OF D E P O S I T
AT WEEKLY R E P O R T I N G B A N K S
BY FEDERAL R E S E R V E D I S T R I C T
1/
AS OF 28 APR 1971
(CUMULATIVE
PERCENTAGE)
ST.
LOUIS
MINNEAPOLIS
KANSAS
CITY
DALLAS
SAN
FRANCISCO
2.9
1.0
2.2
4.2
3.6
3.9
29.0
24.8
28.5
31.7
28.7
34.6
29.3
47.5
51.6
44.7
52.3
50.3
51.9
49.1
51.1
56.2
62.9
65.8
59.2
65.0
59.8
66.2
63.4
64.1
64.6
61.3
69.1
73. a
64.6
72.3
67.7
73.1
70.1
70.2
75.7
70.7
66.6
79.8
80.0
70.0
76.0
72.2
81.3
76.2
78.3
83.3
81.6
73.5
73.6
88.9
84.0
77.7
80.1
76.4
87.7
81.5
82.6
84.3
89.1
84.3
77.1
76.0
90.4
87.5
81.9
83.9
78.7
90.7
85.2
85.8
DEC
87.9
93.4
88.0
84. 8
78.5
91.7
89.6
85.4
90.0
86.4
92.7
88.6
88.o
1972 J A N
91.2
94.8
90.7
91.7
80.9
93.5
92.0
93.2
93.7
90.3
94.5
92.7
90.7
FEB
93.0
95.3
93.0
93.4
82.2
94.8
93.7
94.2
94.7
94.7
95. 8
94.9
92.3
MAR
96.0
96.1
97.1
96.2
85.8
95.6
95.6
96.2
98.3
97.1
97.2
97.6
94.6
APR
98.1
96.6
99.1
98.3
91.2
96.8
97.2
98.3
98.7
98.6
99.0
99.3
97.1
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
CD1 S MATURING
1971
ALL
DISTRICTS
BOSTON
3.9
4.3
MAY
29. 3
JUN
IN
CLEVELAND
4.4
3.6
4.6
3.3
2.8
28.8
30.6
31.8
23.2
25.5
49.9
51.5
51.8
49.7
40.1
JUL
62.2
64.8
62.0
58.8
AUG
68.5
70.1
68.8
SEP
75.2
74.8
OCT
81.1
NOV
APR
29- APR
30
M A Y OR LATER
1/
RICHMOND
ATLANTA
PHILADELPHIA
INCLUDES O N L Y C E R T I F I C A T E S
ISSUED
NEW
YORK
IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE
CHICAGO
BY WEEKLY
REPORTING
BANKS.
LAM
a#
T A B L E 6E
1/
SALES OF N E G O T I A B L E
2/
TIME 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 M O N T H
WEEKLY R E P O R T I N G BANKS
BY F E D E R A L R E S E R V E D I S T R I C T
,
AS OF 28 APR 1971
(PERCENTAGE
34. 0
52.4
30.3
24.2
16.5
8. 0
20.1
22.1
12.4
21.4
20.0
17.9
3.0
3.5
5.9
1.4
3.4
2.2
2.5
1.7
0.9
1.3
3.1
0.7
3.4
16.6
9.5
7.8
8.1
11.1
12.5
8.4
8 .9
1.2
1.3
1.4
0.5
0.9
1.5
0.8
0. 5
0.6
4.2
0.5
1.1
1.4
1.8
0.3
2.9
0.5
0.4
0.7
1.6
1.1
3.5
1.2
0.6
2.7
2.3
4.3
1.0
0. 5
1.0
0.0
0.2
O.C
0.4
0.1
0.6
0.5
0.0
0.0
0.4
0.2
0.3
0.8
0.1
0.8
0.0
2.7
0.1
1.3
0.3
0.3
4.6
0.5
0. 7
1.1
7.9
2.4
5.2
8.8
28.5
6.5
6.2
8.9
3.7
7.5
7.8
4. 8
13.5
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
BOSTON
1971 MAY
38.0
35.7
JUN
20,5
JUL
IN
ST.
LOUIS
MINNEAPOLIS
28.5
46.3
24.3
11.2
15.2
11.7
17.5
24.3
29.C
1.6
1.0
3.2
0.4
1.2
3.9
4.4
3.2
13.3
2.1
0.6
2.7
1.3
2.9
1.3
1972 J A N
1.6
1.8
FEB
0.3
MAR
APR OR L A T E R
CLEVELAND
42.6
42.2
17.8
36.2
37.8
18.4
26.4
20.2
14.0
14.6
17.1
23.2
12.6
13.6
15.5
AUG
2.3
2.6
1.8
3.6
SEP
2.3
2.6
2.5
OCT
7.0
8.3
NOV
0.8
DEC
1/ SEE TECHNICAL A P P E N D I X
2/
RICHATLANTA
MOND
PHILADELPHIA
TOTAL *
ISSUED IN D E N O M I N A T I O N S OF
ARE NOT A D J U S T E D FOR C D ' S THAT
D E T A I L S MAY NOT A D D TO T O T A L S DUE
NEW
YORK
CHICAGO
A.
INCLUDES O N L Y C E R T I F I C A T E S
N O T E - SALES IN THIS TABLE
*
DALLAS
SAN
FRANCISCO
ALL
DISTRICTS
CD'S MATURING
DISTRIBUTION!
TO R O U N D I N G .
$ 1 0 0 , 0 0 0 OR MORE
HAVE M A T U R E D .
BY WEEKLY R E P O R T I N G B A N K S .
KANSAS
CITY
I
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 1 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.
I
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
m o n t h — a f t e r 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, th •'
are weighted averages calculated from the survey date with the assumption m,
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.
I
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.
@FedFRASER