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% / L.4.1 CONFIDENTIAL (FR) May 27, 1968. w 'i: \ * * ' X\jt ' R e s e a r c h Library SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF April 2 4 , 1968 Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE MATURITY DISTRIBUTION OF O U T S T A N D I N G WEEKLY AS CD'S MATURING 1968 APRIL 1969 NEGOTIABLE REPORTING OF AMOUNT ( M I L L I O N S OF DOLLARS) IN 25 —30 1 24 APR TIME CERTIFICATES 1/ OF D E P O S I T AT BANKS 1968 PERCENTAGE OISTRIBUTION CUMULATIVE PERCENTAGE SALES S I N C E P R E V I O U S MONTH 2 / ( M I L L I O N S OF D O L L A R S ) 1 ,416.5 7.2 7.2 .0 MAY 4,855.1 24.5 31.7 1,558.6 JUNE 4,294.4 21.7 53.4 867.6 JULY 3,379.5 17.1 70. 5 1,363.5 AUGUST 1,426.8 7.2 77.7 190.2 SEPTEMBER 1,138.4 5.8 83. 5 181.4 OCTOBER 916.5 4.6 88. 1 439.2 NOVEMBER 313.2 1.6 89.7 29.7 DECEMBER 365.1 1.8 91.5 55.9 JANUARY 408.5 2.1 93.6 33.1 FEBRUARY 255.3 1.3 94.9 14.0 MARCH 241.3 1.2 96. 1 37.7 APRIL 252.9 1.3 97.4 234.5 525.0 2.7 100.0 XXX 19,788.6 100.0 XXX 5,005.3 OVER 12 MONTHS TOTAL (MEMORANDUM: JUNE JUNE INCLUDES 2/ SEE 3/ SALES 438.1 712.9 10 17 1/ ONLY C E R T I F I C A T E S TECHNICAL OF TAX CD'S IN APPENOIX A. MATURING AFTER MONTHS. MATURITIES) XXX XXX 2.2 3.6 DENOMINATIONS 11 AND D I V I D E N D OF $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G ^REFLECTS A REVISION OF FIGURES REPORTED IN MARCH. BANKS. 3/ # # # # # # # TABLE # # # 2A V 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 T I M E C E R T I F I C A T E S NEW YORK C I T Y , C H I C A G O * AND ALL OTHER WEEKLY R E P O R T I N G AS OF (IN 24 MILLIONS APR OF 1968 1969 SALES PREVIOUS AMOUNT IN DOLLARS) AMOUNT - SALES PREVIOUS SINCE MONTH OTHER WEEKLY AMOUNT 2/ - REPORTING .3 79.4 .0 771.5 .0 MAY 1,522.6 456.1 336.8 114.6 2 , 9 9 5 .7 987 .7 JUNE 1,532.0 244.1 326.1 59.6 2,436.3 564.1 JULY 1,104.7 478.8 331.0 109.1 1,943.8 776.1 AUGUST 428.1 58.3 89.5 8.4 909.2 123.8 SEPTEMBER 260.9 41.5 112.5 16.2 765.0 123.9 OCTOBER 198.9 65.8 76.1 27.3 641.5 345.6 NOVEMBER 89.0 5.1 18.9 .1 2 05.3 24.0 DECEMBER 69.0 8.6 16.5 5.6 2 79.6 41.5 JANUARY 99.6 7.4 21.9 .5 287.0 25.1 FEBRUARY 43.1 .9 26.5 .2 1 85.7 12.9 MARCH 49.3 5.1 16.2 2.6 175.8 30.0 APR I L 80.8 65.0 17.4 16.1 154.7 153.9 25 - 12 APR * 3 F REPORTING /3 XXX 22.0 XXX 413.9 XXX 6,132.7 1,436.7 1,490.8 360.3 12,165 .1 3,208.6 1/ I N C L U D E S ONLY C E R T I F I C A T E S 2/ SEE 3/ SALES TECHNICAL TOTALS OF C D ' S APPENDIX A. MATURING AFTER MAY NOT ADD IN DUE TAX AND D I V I D E N D M A T U R I T I E S ) DENOMINATION 11 OF 210.0 249.0 31.6 69.3 83.1 33.8 197.1 3 95.0 10 17 240 11 12 BANKS (MEMORANDUM: JUNE JUNE / 3 89.1 MONTHS TOTAL NUMBER 30 $100,000 OR MORE ISSUED BY WEEKLY R E P O R T I N G MONTHS. TO R O U N D I N G . # REFLECTS A REVISION OF FIGURES REPORTED IN MARCH. BANKS. BANKS SALES S I N C E P R E V I O U S MONTH 2 / 565.6 APt OVER * ALL CHICAGO SINCE MONTH 2 / AT 1968 NEW YORK C I T Y C D 1 S MATUR ING OF D E P O S I T BANKS 48 . 1 52.4 /3 t • i e TABLE # # # 2B 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEW YORK C I T Y , CHICAGO, AS OF 24 NEGOTIABLE AND ALL APR 1968 (PERCENTAGE 1 r r r> U U i b 24 0-6 OTHER WEEKLY R E P O R T I N G AND 2 7 DAYS 2 / APR AT 1968 24 APR ALL 27 MAR 24 OTHER APR MAR 27 9 .2 3.8 5 . 3 4 . 9 6 . 3 3 . 6 01 MONTHS 3 / 24.8 32.2 2 2 . 6 2 8 . 1 2 4 . 6 3 1 . 1 02 MONTHS 25.0 16.5 2 1 . 9 14.2 20. 0 1 6 . 0 03 MONTHS 18.0 20.0 22.2 17.0 16.0 1 4 . 9 04 MONTHS 7 . 0 9 . 7 6 . 0 14.2 7 . 5 9 . 3 05 MONTHS 4 . 3 5.7 7 . 5 5 . 2 6 . 3 6 . 3 06 MONTHS 3 . 2 3.4 5.1 6 . 1 5 . 3 5 . 1 07 MONTHS 1.5 2.1 1.3 3 . 1 1 . 7 2 . 4 08 MONTHS 1 . 1 1.3 1.1 1.2 2 . 3 1 . 4 09 MONTHS 1.6 .9 1.5 . 7 2 . 4 1 . 9 10 MONTHS .7 1.4 1.8 1.4 1 . 5 2 . 1 11 MONTHS .8 .7 1.1 1.7 1 . 5 1 . 4 12 MONTHS 1.3 .7 1.2 .9 1 . 3 1.2 1.5 1.6 1.5 1.5 3 . 4 3 . 3 1 0 0 . 0 100.0 100.0 1 0 0 . 0 1 0 0 . 0 1 0 0 . 0 OF $ 1 0 0 , 0 0 0 OR OVER 1 2 TOTAL MONTHS * 1/ INCLUDES BANKS. 2/ NUMBER OF FOLLOWING DAYS R E M A I N I N G I N SURVEY MONTH. T H I S THE L A S T WEDNESDAY OF THE MONTH. 3/ NUMBER MONTHS F O L L O W I N G * DEPOSIT BANKS CHICAGO MAR 27 MAR OF DISTRIBUTION) NEW YORK C I T Y MA 1TlUK IDTI M <* ¥1 M MA nib IN TIME C E R T I F I C A T E S TOTALS OF ONLY C E R T I F I C A T E S MAY NOT ADD DUE IN DENOMINATIONS THE SURVEY TO R O U N D I N G . MONTH. MORE PERIOD VARIES ISSUED WITH THE BY WEEKLY R E P O R T I N G NUMBER OF DAYS # # # # # # # TABLE MATURITY DISTRIBUTION NEW YORK OF CHICAGO, AS OF 24 AND APR ALL 1968 (CUMULATIVE CD'S MATURING DAYS 2 / APR 27 TIME C E R T I F I C A T E S OTHER AND 2 7 OF D E P O S I T ' A T WEEKLY R E P O R T I N G MAR BANKS 1968 DISTRIBUTION) NEW YORK C I T Y IN 24 0-6 2C OUTSTANDING N E G O T I A B L E CITY, CHICAGO MAR • e 24 APR ALL 27 MAR 24 OTHER APR 27 MAR 9.2 3.8 5.3 4.9 6. 3 3.6 01 MONTHS 3 / 34.0 36.0 27.9 33.0 30.9 34.7 02 MONTHS 59.0 52.5 49.8 47.2 50.9 50.7 03 MONTHS 77.0 72.5 72.0 64.2 66.9 65.6 04 MONTHS 84.0 82.2 78.0 78.4 74.4 74.9 05 MONTHS 88.3 87.9 85.5 83.6 80.7 81.2 06 MONTHS 91.5 91.3 90.6 89.7 86.0 86.3 07 MONTHS 93.0 93.4 91.9 92.8 87.7 88.7 08 MONTHS 94.1 94.7 93.0 94.0 90.0 90.1 09 MONTHS 95.7 95.6 94.5 94.7 92.4 92.0 10 MONTHS 96.4 97.0 96.3 96.1 93.9 94. 1 11 MONTHS 97.2 97.7 97.4 97.8 95.4 95.5 12 MONTHS 98.5 98.4 98.6 98.7 96.7 96.7 100.0 100.0 100.0 100.0 100.0 100.0 OF OR MORE OVER 12 MONTHS 1/ INCLUDES B A NK S* 2/ NUMBER OF DAYS R E M A I N I N G IN SURVEY MONTH. T H I S F O L L O W I N G THE L A S T WEDNESDAY OF THE MONTH. 3/ NUMBER OF ONLY C E R T I F I C A T E S MONTHS F O L L O W I N G IN THE DENOMINATIONS SURVEY MONTH. $100,000 PERIOD VARIES ISSUED W I T H THE BY WEEKLY R E P O R T I N G NUMBER OF DAYS • • • TA3LF # 3A # # # # e 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 AT WEEKLY R E P O R T I N G BANKS BY S I Z E O F BANKS 2 / AS O F 2 4 APR 1 9 6 8 (AMOUNTS I N M I L L I O N S OF D O L L A R S ) OF D E P O S I T $1 - CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 $500 MILLION TO MILL ION $500 $1 MILLION TO F\ I L L ION e 1/ BILLION - ANDi OVER PRIME TOTAL NEW YORK C I TY 1968 1969 APR 25-30 193.6 1,007.7 517.3 275.6 214.8 MAY 4,855.1 251.4 604.7 894.0 3,105.0 1,408.5 1,000.0 696.5 JUNE 4,294.4 200.2 550.6 705.7 2,837.9 1,460.8 804.6 572.5 JULY 3,379.5 147.8 381.5 540 .6 2,309.6 1,030.2 835.7 443.7 AUGUST 1,426.7 56.6 220.6 200.2 949. 3 3 92.6 341.9 214.8 SEPTEMBER 1,138.3 65.2 147.6 232.4 693.1 231.3 282.9 178.9 OCTOBER 916.3 51.8 109.1 182.9 572. 5 192.6 238.3 141.6 NOVEMBER 313.2 11.5 45.6 58.7 197.4 80, 9 64.9 51.6 DECEMBER 365.0 23.3 83.1 61.5 197.1 67.9 76.1 53.1 JANUARY 408.6 16.1 53.0 71.5 268.0 94.8 106.5 66,7 FEBRUARY 255.2 6.9 34.0 43.7 170.6 37.3 106.2 27.1 MARCH 241.2 10.8 26.0 52.7 151.7 45.5 61.5 44. 7 APR IL 252.9 11.9 23.7 22.7 194.6 79.2 91.7 23.7 MAY OR L A T E R 524.9 4. 6 43.0 100.2 377.1 84.4 216.5 76.2 19,787.8 929.7 2,466.1 3,360.4 13,031.6 5,723.3 4,502.4 2,805.9 * 10 17 n u n un ixvuiiuncFrwx nu IAPIU MATIIQ T F c I —— _ _ _ _•. N A I UT> TI T I LCOI 438.0 10.4 28.1 66.2 333. 3 189.8 84.2 59.3 712.9 13.3 44.8 77.0 577. 8 385.3 119.8 72.7 37 7 12 18 263 * NON-PRIME 143.6 NUMBER nU cr DANKC DAINIX J IF (MEMORANDUM: 1/ 2/ 3/ OUTSIDE NEW YORK CITY 71.6 TAX JUNE 3/ 1,416.5 TOTAL JUNE e 92 86 48 ,- I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 * 0 0 0 OR MORE I S S U E D BY WEEKLY R E P O R T I N G B A N K S . TOTAL D E P O S I T S AS R E P O R T E D I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . P R I M E BANKS ARE THOSE 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 REGARDED AS B E I N G OF THE H I G H E S T R E P O R T E D BY D E A L E R S TO TRADE W I T H I N 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N THE SECONDARY MARKET. T O T A L S MAY NOT ADD DUE TO R O U N D I N G . QUALITY AND WHICH ARE • TABLE SALES 3B /I / OF N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T S I N C E P R E V I O U S 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 O F B A N K S 3 / AS O F 2 4 APR 1 9 6 8 (AMOUNTS IN M I L L I O N S 3 F DOLLARS) MONTH $1 - CD1S MATURING $200 MILLION TOTAL IN AND UNDER $200 MILLION TO $500 $500 MILLION $1 MILLION TFL 2 / BILLION AND' O V E R PRIME - 4/ TOTAL BILLION NEW Y O R K C I TY 1968 APR 95.9 1 9 6 . 1 3 1 8 . 3 9 4 8 . 3 4 0 2 . 0 2 6 5 . 7 2 8 0 . 6 JUNE 867.6 4 5 . 7 156.6 195.8 4 6 9 . 5 2 2 3 . 5 119.0 1 2 7 . 0 JULY 1 , 3 6 3 . 6 68.5 176.4 2 3 3 . 7 885. 0 4 4 5 . 2 2 5 0 . 6 189.2 AUGUST 190.1 6 . 1 35.2 2 4 . 2 124. 6 55.4 4 5 . 6 2 3 . 6 SEPTEMBER 181.3 8 .6 25.1 25.8 1 2 1 . 8 39.2 4 8 . 5 3 4 . 1 OCTOBER 439.1 32.6 58.7 102.9 244. 9 6 1 . 7 1 0 1 . 3 8 1 . 9 NOVEMBER 2 9 . 7 1.0 1.6 9 . 2 17.9 5.2 5 . 8 6 . 9 DECEMBER 5 5 . 8 3.3 7 . 9 6 . 6 3 8 . 0 8.7 2 4 . 1 5 . 2 JANUARY 33.2 1.7 8 . 6 6 . 0 1 6 . 9 7.5 6 . 7 2 . 7 FEBRUARY 1 4 . 0 1.0 0 . 6 2 . 9 9 . 5 0 . 8 4 . 9 3 . 8 MARCH 3 7 . 7 4.8 3 . 2 1 0 . 4 1 9 . 3 4 . 1 7 . 7 7 . 5 2 3 4 . 4 10.6 18.1 2 8 . 2 1 7 7 . 5 64.4 9 2 . 7 20 . 4 5 , 0 0 5 . 1 279.8 6 8 8 . 1 9 6 4 . 0 3 , 0 7 3 . 2 1 , 3 1 7 . 7 9 7 2 . 6 7 8 2 . 9 7 7 . 7 1 6 . 9 1 7 . 7 TOTAL * i ki c k i n o A K i n » i JUNE 10 JUNE 17 144.8 96.1# AKin TAX SEE TECHNICAL APPENDIX A. INCLUDES C E R T I F I C A T E S IN DENOMINATIONS TOTAL D E P O S I T S AS REPORTED I N THE C A L L PR,ME B A N K S A R F T H O S F WHO S F N E G O T I A B L E REPORTED * TOTALS BY MAY DEALERS NOT ADD TO DUE TRADE TO WITHIN ROUNDING. 1 n CM n MAT! to IT I P C 1 7.2 2 1 . 7 4 . 2 13.4 2 5 . 1 N J M B E ;R 86 92 263 n f \i ' T 3 . 6 (MEMOR ANDUM: A / CITY 1 , 5 5 8 . 6 APR IL OR L A T E R 1/ 2/ 3/ NON-PRIME 25-30 MAY 1969 OUTSIDE NEW Y O R K OF 1 1 2 . 3 53. 1# # 2 BASIS POINTS OF EACH 37 48 OTHER R E F L E C T S A R E V I S I O N OF F I G U R E S 12.3# 7.9 12 18 BANKS) 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 . R E P O R T O F C O N D I T I O N ON D E C E M B E R 3 1 , 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 T H E H I G H E S T OR 32.9# WITHIN THE R E P O R T E D I N MARCH. SECONDARY MARKET. QUALITY AND WHICH ARE • TA8LF 3C • 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 WEEKLY R E P O R T I N G BANKS BY S I Z E OF BANKS 2 / AS OF 2 4 APR 1 9 6 8 PERCENTAGE D I S T R I B U T I O N OF MATURING IN TOTAL $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $500 $1 MILLION TO BILLION DEPOSIT $1 - CD'S • • 1/ BILLION - PRIME TOTAL NEW YORK CITY 1968 1969 APR 25-30 7.2 7.7 5.8 5.8 MAY 24.5 27.0 24.5 26.6 JUNE 21.7 21.5 22.3 JULY 17.1 15.9 AUGUST 7.2 SEPTEMBER ANDi OVER OUTSIDE NEW YORK CITY NON-PRIME 9.0 6.1 7.7 23.8 24.6 22.2 24.8 21.0 21. 8 25.5 17.9 20.4 15.5 16.1 17. 7 18.0 18.6 15.8 6.1 8.9 6.0 7.3 6. 9 7.6 7.7 5. 8 7.0 6.0 6.9 5.3 4.0 6.3 6.4 OCTOBER 4.6 5.6 4.4 5.4 4.4 3.4 5.3 5.0 NOVEMBER 1.6 1.2 1.8 1.7 1.5 1.4 1.4 1.8 DECEMBER 1.8 2.5 3.4 1.8 1. 5 1.2 1.7 1.9 JANUARY 2.1 1.7 2.1 2.1 2.1 1.7 2.4 2.4 FEBRUARY 1.3 0.7 1.4 1.3 1.3 0.7 2.4 1.0 MARCH 1.2 1.2 1.1 1.6 1.2 0.8 1.4 1.6 APRIL 1.3 1.3 1.0 0.7 1.5 1.4 2.0 0.8 MAY OR LATER 2. 7 0.5 1.7 3.0 2.9 1.5 4.8 2.7 1 00. 0 100.0 100.0 100.0 100.0 100. 0 100.0 100.0 TOTAL * 7. 7 3/ DIVIDEND MATURITIES) JUNE 10 2.2 1.1 1.1 2.0 2.6 3.3 1.9 2.1 JUNE 17 3.6 1.4 1.8 2.3 4.4 6.7 2.7 2.6 1/ 2/ 3/ * I N C L U D E S C E R T I F I C A T E S I N D E N O M I N A T I O N S O F $ 1 3 0 * 3 3 0 OR MORE I S S U E D BY WEEKLY R E P O R T I N G B A N K S . TOTAL D E P O S I T S A S R E P O R T E D I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . P R I M E BANKS ARE THOSE 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 REGARDED AS B E I N G OF THE H I G H E S T R E P O R T E D BY D E A L E R S TO TRADE W I T H I N 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N THE SECONDARY M A R K E T . T O T A L S MAY NOT ADD DUE TO R O U N D I N G . Q U A L I T Y AND UCH ARE • e 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 T I M E C E R T I F I C A T E S AT WEEKLY R E P O R T I N G BANKS BY S I Z E OF BANKS 2 / AS OF 2 4 APR 1 9 6 8 CUMULATIVE P E R C E N T A G E 3D OF CD'S 1968 1969 MATURING IN TOTAL $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $ 5 0 0 1 M I L L ION TO $ 1 BILLION - DEPOSIT $1 - • • 1/ BILLION AND OVER PRIME TOTAL NEW YORK C I TY 3/ OUTSIDE NEW YORK CITY NON-PRIME 7.2 7.7 5.8 5.8 7.7 9.0 6.1 7.7 MAY 31.7 34.7 30.3 32.4 31.5 33.6 28.3 32.5 JUNE 53.4 56.2 52.6 53.4 53.3 59.1 46.2 52.9 JULY 70.5 72.1 68.1 69.5 71.0 77.1 64.8 68.7 AUGUST 77. 7 78.2 77.0 75.5 78.3 84. 0 72.4 76.4 SEPTEMBER 83.5 85.2 83.0 82.4 83.6 88.0 78.7 82.8 OCTOBER 88.1 90.8 87.4 87.8 88.0 91.4 84.0 87.8 NOVEMBER 89.7 92.0 89.2 89.5 89.5 92.8 85.4 89.6 DECEMBER 91.5 94.5 92.6 91.3 91.0 94. 0 87.1 91.5 JANUARY 93.6 96.2 94.7 93.4 93.1 95.7 89.5 93.9 FEBRUARY 94.9 96.9 96.1 94.7 94.4 96.4 91.9 94.9 MARCH 96. 1 98.1 97.2 96.3 95.6 97.2 93.3 96.5 APRIL 97.4 99.4 98.2 97.0 97.1 98.6 95.3 97.3 100.0 100.0 100.0 100.0 100.0 100. 0 100.0 100.0 APR 25-30 MAY bl i i l l S = s i S ? = AND WHICH ARE T A8L E 3 E 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 E V I O U S AT WEEKLY R E P O R T I N G BANKS BY S I Z E OF BANKS 3 / AS OF 2 4 APR 1 9 6 8 PERCENTAGE D I S T R I B U T I O N $1 - CD'S 1968 1969 MATURING APR IN TOTAL $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $500 $1 M I L L ION TO BILLION PRIME TOTAL 4/ OUTSIDE NEW YORK CITY NON-PRIME NEW YORK C I TY 34.3 28.5 33.0 30.9 30.5 27.3 35.8 JUNE 17.3 16.3 22.8 20.3 15.3 17.0 12.2 16.2 JULY 27.2 24.5 25.6 24.2 28.8 33.8 25.8 24.2 AUGUST 3.8 2.2 5.1 2.5 4.1 4.2 4.7 3.0 SEPTEMBER 3.6 3.1 3.6 2.7 4.0 3. 0 5.0 4.4 OCTOBER 8.8 11.7 8.5 10.7 8. 0 4.7 10.4 10. 5 NOVEMBER 0. 6 0.4 0.2 1.0 0.6 0.4 0.6 0.9 DECEMBER 1.1 1.2 1.1 0.7 1.2 0.7 2.5 0.7 JANUARY 0.7 0.6 1.2 0.6 0.5 0.6 0.7 0.3 FEBRUARY 0.3 0.4 0.1 0.3 0.3 0.1 0.5 0.5 MARCH 0. 8 1.7 0.5 1.1 0.6 0.3 0.8 1.0 APR IL OR LATER 4. 7 3.8 2.6 2.9 5.8 4. 9 9.5 2.6 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 2.3 3.7 5.9 1.7 2.3 2.6 # * 10 17 2.9 1.9 # 263 * - ANDi OVER 31.1 1.3 1.0 1.5 1.9 (MEMORANDUM: 1/ ?/ 3/ 4/ BILLION 25-30 U 1 V 1 V CM U JUNE 2/ MAY TOTAL JUNE MONTH 92 NUMBER OF 86 H H I U I M 1 1 C O I 1.7 / % ' 2.4# / - 1.0 BANKS) 48 12 37 SEE TECHNICAL A P P E N D I X A. I N C L U D E S C E R T I F I C A T E S I N D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE I S S U E D BY WEEKLY R E P O R T I N G B A N K S . TOTAL D E P O S I T S A S R E P O R T E D I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . P R I M E BANKS ARE THOSE 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 REGARDED AS B E I N G OF THE H I G H E S T R E P O R T E D BY D E A L E R S TO TRADE W I T H I N 1 OR 2 B A S I S P O I N T S OF EACH OTHER W I T H I N THE SECONDARY MARKET. T O T A L S MAY NOT ADD DUE TO R O U N D I N G . # REFLECTS A REVISION OF FIGURES REPORTED IN MARCH. 1.3# QUALITY AND WHICH 18 ARE TABLE AVERAGE 4A MATURITY OF OUTSTANDING NEGOTIABLE AT WEEKLY TIME REPORTING AT V A R I O U S (IN CERTIFICATES SURVEY 1/ BANKS DATES MONTHS) DATE OF BANK OF D E P O S I T SURVEY CLASSIFICATION 24 APR 27 1969 MAR 1968 28 FEB 1968 C BY L O C A T I O N ) REPORTING ISSUING NEW YORK BANKS CD'S CITY CHICAGO 2.9 2.9 2.6 2.6 2.6 2.9 2.9 2.7 3. 1 3.1 u> OTHER 3.0 ro ALL (BY UNDER $200 $200— $ 5 0 0 MILLION MILLION $500-$1,000 OVER $1 MILLION BILLION PRIME IN NEW YORK C I T Y PRIME OUTSIDE 3/ NEW YORK C I T Y 3/ NON-PRIME 1/ INCLUDES CERTIFICATES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE WHOSE N E G O T I A B L E ARE R E P O R T E D BY DEALER S TO TRADE AS IN DENOMINATIONS REPORTED IN THE CALL OF $130 ,000 REPORT SIZE OF BANK) 2/ 2.7 2.6 2.7 3.0 3.0 3. 0 3.0 3.0 2.9 3.0 2.9 2.9 2.6 2.6 2.6 3.5 3.3 3.2 3.0 3.0 2.9 OR MORE OF C O N D I T I O N ISSUED ON BY WEEKLY R E P O R T I N G DECEMBER 31, BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED A S 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 O F EACH OTHER W I T H I N THE SECONDARY M A R K E T . TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES SOLD RY WEEKLY DURING THE REPORTING MONTH OF (IN OF DEPOSIT BANKS VARIOUS SURVEYS MONTHS) DATE OF BANK C L A S S I F I C A T I O N 24 APR 1/ 1968 27 MAR SURVEY 1968 28 FEB 1968 ( BY LOCAT I O N ) ALL REPORTING BANKS 2.9 2.9 3.2 2.6 2.6 3.1 CHICAGO 2.8 3.4 4.0 OTHER 3.0 3.0 3.1 CITY (BY S200-S500 MILLION MILLION $ 5 00— $ 1 » 0 0 0 OVER $1 MILLION BILLION PRIME IN NEW YORK C I T Y PRIME OUTSIDE 3/ NEW YORK C I T Y 3/ 2.5 2.6 2.7 2.9 2.8 2.7 3.0 3.0 3.0 2.9 3.3 2.7 2.6 3.1 3.6 3.4 3. 9 2.9 I I 1 l I 1 I I I i 1/ INCLUDES C E R T I F I C A T E S ?J TOTAL NOTE—SEE DEPOSITS TECHNICAL AS IN DENOMINATIONS REPORTED APPENDIX B. IN THE CALL OF $ 1 0 0 , 0 0 0 REPORT OR 2/ 2.9 2.7 NON-PRIME BANK) t $?00 OF o UNDER SIZE MORE CF C O N D I T I O N ISSUED ON 1 1 1 YORK 1 1 1 1 NEW CD'S ! 1 ISSUING BY WEEKLY R E P O R T I N G DECEMBER 31, 1965. BANKS. TABLE R A T I O OF OUTSTANDING NEGOTIABLE TO TOTAL AT V A R I O U S (PER 5A TIME CERTIFICATES TOTAL D E P O S I T S 2 / M I L L I O N S OF D O L L A R S ) ALL BANKS CD'S 24 APR 1/ DEPOSITS SURVEY DATES CENT I DATE O F (IN OF D E P O S I T 1968 27 MAR SURVEY 1968 2 8 FEB 1968 ISSUING 9.8 10.2 10.3 UNDER 2 00 6.3 6.3 6. 4 200 - 500 8.2 8.2 8. 1 500 - 1000 9.4 9.7 9.8 10.7 11.2 11.4 12.5 13.0 13.3 8.8 9.4 9. 7 11.3 11.7 11.6 OVER 1000 PRIME IN NEW YORK 3 / PRIME OUTSIDE NEW YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL 3/ P R I M E BANKS ARE THOSE 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 REGARDED AS B E I N G OF THE H I G H E S T Q U A L I T Y AND WHICH ARE R E P O R T E D BY D E A L E R S TO TRADE W I T H I N 1 OR 2 B A S I S P O I N T S O F EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- CERTIFICATES DEPOSITS IN DENOMINATIONS AS R E P O R T E D IN THE CALL OF $100,000 REPORT D E P O S I T S I N THE DENOMINATOR OF THE R A T I O I N T E R B A N K AND U . S . GOVERNMENT D E P O S I T S . OR MORE OF C O N D I T I O N IN T H I S TABLE ISSUED ON BY WEEKLY R E P O R T I N G DECEMBER ARE TOTAL 31, BANKS. 1965. DEMAND AND T I M E DEPOSITS, INCLUDING # # * # # # TABLE RATIO OF O U T S T A N D I N G NEGOTIABLE TOTAL (IN MILLIONS BANKS CD'S OF 5 % OR LESS DEPOSITS AS O F APR DOLLARS) 5 TO 10% # OF OF D E P O S I T 1/ 1968 BANKS) 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CD TO D E P O S I T RATIO (PER CENT) ISSUING 99 73 54 25 11 1 9.8 UNDER 200 48 26 9 6 3 0 6.3 200 500 37 19 18 8 3 1 8.2 1000 11 17 13 4 3 0 9.4 3 11 14 7 2 0 10.7 0 0 5 2 0 0 12.5 1 7 1 2 1 0 00 ALL D E P O S I TS 2 / CERTIFICATES TO TOTAL (NUMBER # 5B TIME 24 # 2 4 8 3 1 0 11.3 - 50 0 OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK 3 / NEW 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 BANKS ARE THOSE WHOSE N E G O T I A B L E WHICH ARE R E P O R T E D BY D E A L E R S TO TRADE NOTE- DEPOSITS IN DENOMINATIONS AS REPORTED IN THE CALL OF $100,000 REPORT CONDITION ISSUED ON BY WEEKLY R E P O R T I N G DECEMBER 31, BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED A S 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 O F EACH OTHER W I T H I N THE SECONDARY MARKET. D E P O S I T S I N THE DENOMINATOR OF THE R A T I O INTERBANK AND U . S . GOVERNMENT D E P O S I T S . OF OR MORE 00 # IN T H I S TABLE ARE TOTAL DEMAND AND T I M E DEPOSITS, INCLUDING * # # # # * TABLE PER CENT CHANGE IN MAR 1968 TO (NUMBER DECLINES TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S OF REDUCED C D ' S TO ZERO 2/ DOLLARS) 1 0 % OR MIRE ISSUING OF 24 TIME APR CERTIFICATE 10% OF DEPOSIT /I 1968 BANKS) OF 5 TO # 5C OUT ST AND! NG N E G O T I A B L E 27 # 5% OR LESS NO CHANGE I N C R E A S E S OF ———————————————————— —— — j S S U E D C D ' S BUT 5% OR 5 TO 1 0 % OR HAD NONE O U T S T A N D LESS 10% MORE I N G ON BASE DATE 37 40 59 31 34 19 44 UNDER 200 1 13 11 16 18 9 5 21 0 200 - 500 0 10 13 17 11 12 7 16 0 500 - 1000 0 7 10 12 2 6 6 5 0 0 7 6 14 0 7 1 2 0 0 2 1 2 0 2 0 0 0 0 2 3 3 0 3 1 0 0 0 3 2 9 0 2 0 2 0 OF $ 1 0 0 , 0 0 0 OR MORE OVER 1000 PRIME IN NEW YORK 3 / PRIME OUTSIDE NEW YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE WHOSE N E G O T I A B L E ARE R E P O R T E D BY D E A L E R S TO TRADE NOTE- CERTIFICATES AS IN DENOMINATIONS REPORTED IN THE NUMBER OF BANKS I N T H I S HAD O U T S T A N D I N G C D ' S ON THE THE CALL REPORT OF CONDITION ISSUED ON BY WEEKLY R E P O R T I N G DECEMBER 3 It BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED A S 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 O F EACH OTHER W I T H I N THE SECONDARY M A R K E T . TABLE D I F F E R S FROM THOSE IN MOST OTHER LAST SURVEY REDUCED T H E I R O U T S T A N D I N G S T A B L E S TO THE E X T E N T THAT BANKS TO Z E R O ON T H I S S U R V E Y . THAT T A8L E PER C E N T CHANGE IN OUTSTANDING 31 JAN NEGOTI ABLE T I M E 1968 TO (NUMBER OF TOTAL C IN ALL DEPOSITS MILLIONS BANKS CD' S OF /2 REDUCED CD'S TO ZERO DOLLARS) DECLINES 20 25% OR MORE APR OF TO 15% DEPOSIT /I 1968 BANKS ) OF 10 15 TO 20% TO 25% 24 CERTIFICATE INCREASE 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10 TO 15% ISSUING 18 12 10 12 31 38 15 30 26 14 OF 20 15 TO 2 0% 25% OR MORE TO 25% 17 10 33 ISSUED C D ' S BUT HAD NONE OUTSTANDING ON BASE DATE UNDER 200 1 8 3 2 4 10 7 10 8 8 5 7 5 16 0 200 - 500 0 7 2 3 1 14 10 4 11 9 6 4 2 14 0 500 - 1000 2 2 4 3 2 6 6 1 8 5 3 4 3 2 0 0 1 3 2 5 1 15 0 3 4 0 2 0 1 0 0 0 2 1 1 0 3 0 0 0 0 0 0 0 0 0 0 1 1 3 0 4 0 1 1 0 1 0 0 0 0 1 0 0 1 1 8 0 2 3 0 1 0 1 0 OR MORE ISSUED OVER 1000 PRIME IN NEW YORK PR IME OUTSIDE 3/ NEW YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL 3/ P R I M E BANKS ARE THOSE WHOSE N E G O T I A B L E WHICH ARE R E P O R T E D BY D E A L E R S TO TRADE NOTE- CERTIFICATES DEPOSITS IN DENOMINATIONS AS R E P O R T E D IN THE C A L L OF $ 1 0 0 , 0 0 0 REPORT OF C O N D I T I O N ON BY WEEKLY R E P O R T I N G DECEMBER 31, BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED A S 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 O F EACH OTHER W I T H I N THE SECONDARY MARKET. THE NUMBER OF BANKS I N T H I S T A B L E D I F F E R S FROM THOSE IN MOST OTHER T A B L E S TO THE E X T E N T THAT BANKS HAD O U T S T A N D I N G C D ' S ON THE SURVEY T H R E E MONTHS P R I O R TO THE CURRENT S U R V E Y , REDUCED T H E I R O U T S T A N D I N G S TO Z E R O . THAT s e e # e e TABLE CHANGE IN OUTSTANDING OVER THE AS AT THE 27 A *ER TO (NUMBER TOTAL (IN ALL DEPOSITS MILLIONS BANKS CD'S OF 2/ DECLINES DOLLARS) 32 AND OVER 2 TO 3% TIME CERTIFICATES CENT O F BEGINNING MAR 1 9 6 8 e 1/ DEPOSITS O F THE P E R I O D 24 OF TOTAL OF D E P O S I T APR 1968 BANKS) OF 1 TO 2% e 5E NEGOTIABLE MONTH e INCREASES 1 % ANO LESS NO CHANGE 1% AND LESS 1 TO 2% OF 2 TO 3% 3% AND OVER ISSUING 1 6 26 106 30 72 9 7 6 UNDER 200 0 1 5 35 17 25 5 2 2 200 - 500 0 1 7 32 11 26 2 5 2 500 - 1000 1 3 8 17 2 14 1 0 2 22 0 7 OVER 1000 0 PRIME IN NEW PRIME OUTSIDE YORK 3 / NEW YORK 1 0 3 / N O N P R I ME 6 1 0 0 INCLUDES 2/ TOTAL 3/ P R I M E BANKS ARE THOSE WHOSE N E G O T I A B L E WHICH ARE R E P O R T E D BY D E A L E R S TO TRADE DEPOSITS AS IN DENOMINATIONS REPORTED IN THE 4 0 3 0 1/ NOTE- CERTIFICATES 1 2 OF $ 1 0 0 , 0 0 0 CALL REPORT 0 5 1 1 0 4 13 OR MORE OF C O N D I T I O N 0 ISSUED ON 0 0 0 2 0 31, 0 0 1 0 0 BY WEEKLY R E P O R T I N G DECEMBER 0 0 BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED 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 O F EACH OTHER W I T H I N THE SECONDARY M A R K E T . D E P O S I T S I N THE DENOMINATOR OF THE R A T I O I N T E R B A N K AND U . S . GOVERNMENT D E P O S I T S . IN T H I S TABLE ARE TOTAL DEMAND AND T I M E DEPOSITS, INCLUDING e # # # # # # # TABLE CHANGE OVER IN OUTSTANDING THE LAST THREE AT CERTIFICATES MONTHS CENT AS 1968 (IN DEPOSITS MILLIONS OF DECLINES 2/ 5% DOLLARS) AND OVER ALL BANKS CD'S 3 TO 4% 4 TO 5% OF THE TO 2 4 (NUMBER TOTAL A PER BEGINNING JAN # # 5F NEGOTIABLE TIME THE 31 # OF APR OF OF D E P O S I T TOTAL 1/ DEPOSITS PERIOD 1968 BANKS) INCREASES OF 2 TO 3% it 1 TO ?% 1% NO CHANGE AND LESS AND UNDER ISSUING 1 TO 3% 5% AND OVER 4 TO 5% 3 TO 4% 2 TO 2% OF 3 2 4 5 21 87 12 78 27 10 7 4 3 UNDER 200 1 1 0 0 8 23 9 29 11 6 2 1 1 POO - 500 0 0 1 1 2 34 3 24 11 3 4 2 1 500 1000 1 0 0 2 8 13 0 17 3 1 1 1 1 1 I 3 2 3 17 0 8 2 0 0 0 0 0 1 1 1 1 3 0 0 0 0 0 0 0 0 0 2 1 1 5 0 3 0 0 0 0 0 1 0 0 0 1 9 0 5 2 0 0 0 0 - OVER 1000 PRIME IN NEW YORK PRIME OUTSIDE 3/ NEW YORK 3/ NONPR IME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS 3/ PRIME WHICH BANKS ARE THOSE WHOSE N E G O T I A B L E ARE R E P O R T E D BY D E A L E R S TO TRADE NOTE- IN DENOMINATIONS AS REPORTED IN THE CALL OF $100,000 REPORT OR MORE OF C O N D I T I O N ISSUED ON BY WEEKLY R E P O R T I N G DECEMBER 31, BANKS. 1965. C E R T I F I C A T E S OF D E P O S I T ARE REGARDED 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 O F EACH OTHER W I T H I N THE SECONDARY M A R K E T . D E P O S I T S I N THE DENOMINATOR OF T H E R A T I O I N T E R B A N K AND U . S . GOVERNMENT D E P O S I T S . IN T H I S TABLE ARE T O T A L DEMAND AND T I M E DEPOSITS, INCLUDING # # # # # # # TABLE MATURITY DISTRIBUTION OF (AMOUNTS OF IN 24 # # 6A OUTSTANDING NEGOTIABLE TIME AT 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 APR MILLIONS CERTIFICATES OF DEPOSIT 1/ 1968 OF DOLLARS) DALLAS SAN FRANCISCO 28.6 80.4 193.2 78.5 124.5 378.1 718.7 110.3 54.7 77.5 213.0 581.4 518.5 51.8 31.6 78.3 235.1 592.5 25.4 202.8 28.0 16.8 21.0 80.3 271.4 41.1 39.8 195.5 28.3 12.5 31.1 79.4 164.8 92.2 29.4 30.7 137.8 15.8 10.5 20.5 78.0 137.5 8 .4 19.2 8.5 9.1 51.3 9.5 1.3 4.4 17.0 49.4 95.1 13.5 33.9 28.7 10.0 43.2 13.0 6. 8 11.1 35.6 57.8 16.1 123.6 16.9 28.9 3.9 13.9 58.0 7.1 5.0 5.1 37.4 92.5 255.3 13.6 55.9 5.2 16.1 8.5 10.5 43.0 7.5 0.9 1.9 15.3 76.9 MAR 241.4 9.4 66.9 20.6 14.9 5.5 6.9 29.9 8. 0 0.2 4.3 19.4 55.4 APR 252. 8 13.7 87.4 3.1 49.4 5.8 2.5 30.2 7.4 0.4 2.3 15.4 35.2 52 5 . 1 18.1 119.6 27.8 164.6 11.0 20.2 58.4 12.5 0. 0 0. 0 21.9 71.0 19788.7 1159.7 7432.8 581.6 1525.4 363.4 580 .8 2679.8 410.7 239.9 410.6 1306.3 3097.7 AVERAGE M A T U R I T Y IN MONTHS I t 2.9 2.7 2.5 3.4 4. 1 3.7 3.0 3.0 3.2 2.2 2.4 2.9 3.1 NUMBER BANK S 263 18 47 10 20 14 21 36 10 21 25 36 CD'S 1968 1969 ALL Dl S TRICTS BOSTON 1416. 5 73.6 MAY 4855. 1 J UN MATURING IN ST. LOUIS MINNEAPOLIS 149.5 11.8 20.7 119.9 615.8 99.7 72.4 163.3 545.9 228.1 45.1 88.4 49.3 143.9 10.9 348.2 37.8 98.6 92.4 248.9 22.7 313.4 26. 8 108.5 DEC 365.2 16.5 JAN 408.4 FEB PHILADELPHIA CLEVELAND RICHMOND ATLANTA 678.4 39 . 7 87.1 18.3 35.2 341.8 1865.4 116.0 322.4 74.3 4294.4 271.3 1829.3 144.2 226.1 JUL 3379.4 142.0 1291.6 76.4 AUG 1426.8 63.0 514.0 SEP 1138.5 61.4 OCT 916.4 NOV APR 25-APR MAY OR TOTAL 30 LATER * OF INCLUDES 2/ SEE ONLY C E R T I F I C A T E S TECHNICAL DETAILS NEW YORK REPORTING 1/ * # MAY NOT APPENDIX ADD TO ISSUED IN DENOMINATIONS B. TOTALS DUE TO R O U N D I N G . OF $ 1 0 0 , 0 0 0 OR MORE BY CHICAGO WEEKLY R E P O R T I N G BANKS. 5 KANSAS CITY # # # # # # # TABLE TIME C E R T I F I C A T E S DF D E P O S I T 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 (AMOUNTS 1968 1969 MATURING IN 24 APR MILLIONS P R E V I O U S MONTH 1963 OF DOLLARS ) MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 196.8 30.4 22.6 33.0 171.5 216.8 89.7 88.6 51.1 10.6 11.8 56.9 93.6 21.6 38.6 195.1 17.0 16.2 39.6 92.3 229.4 8.2 1.0 1.4 30.1 3.0 6.7 6.4 6.6 40.3 5.6 27.0 1.5 6.4 27.1 4.0 2.8 4.3 13.2 32.6 93.8 11.2 48.2 15.9 21.7 55.0 9.6 6.6 13.5 58.3 72.2 2.0 8 .5 0.0 3.8 1.2 0.0 3.0 3.9 0.0 0.6 0.2 7.0 55.9 5.8 14.4 1.0 4.7 0.2 0.6 11.6 2.4 0.0 0.8 4.4 10.0 JAN 33.3 0.8 9.8 0.4 3.7 0.7 0.4 9.0 1.9 0.6 0.4 0.9 4.7 FEB 14.0 0.0 3.0 1.3 2.9 0.2 0.4 1.5 2.0 0.0 0.0 0.0 2.7 MAR 37.7 2.8 6.3 3.7 5.8 3.8 0.2 5.4 1.8 0.0 0.1 4.6 3.2 234.5 1.1 75.2 2.1 55.5 3.1 2.4 26.3 14.5 0.4 2.3 12.4 39.2 5006.3 270.6 1824.0 105.8 365.4 91.3 205.8 649.5 141.6 66. 5 112.8 421.3 751.7 2.8 2.4 2.6 3.1 4.3 3.3 2.3 2.9 3.5 2.4 2.7 2.6 3.0 BOSTON NEW YORK MAY 1558.5 111.5 J UN 867. 8 JUL PHILADELPHIA CLEVELAND RICHMOND ATLANTA 608.4 20.4 87.3 15.8 44.0 41.4 313.2 30.0 54.6 26.3 1363. 6 53.6 569.9 26.6 6 3.7 AUG 190.3 10.2 72.9 3.5 SEP 181.4 8.3 48.6 OCT 439.1 33.1 NOV 30.2 DEC OR LATER * AVERAGE M A T U R I T Y IN MONTHS 3 / 1/ SEE 2/ INCLUDES 3/ SEE * OF SINCE ST. LOUIS ALL DISTRICTS APR TOTAL IN # 2/ OF N E G O T I A B L E AS CD'S # 6R 1/ SALES # TECHNICAL DETAILS MAY NOT * APPEND I X A. ONLY C E R T I F I C A T E S TECHNICAL CHICAGO APPENDIX ADD TO ISSUED IN DENOMINATIONS B. TOTALS DUE TO R O U N D I N G . OF $100,000 OR MORE BY WEEKLY R E P O R T I N G BANKS. 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 T I M E AT WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E D I S T R I C T AS OF 24 (PERCENTAGE CD'S 1968 1969 MATURING 1/ ALL DISTRICTS BOSTON NEW YORK APR CERTIFICATES OF DEPOSIT 1/ 1968 DISTRIBUTION) PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 7.2 6.3 9.1 6.8 5.7 5.0 6.1 5.6 2.9 8.6 7.0 6.2 6.2 MAY 24.5 29.5 25.1 19.9 21.1 20.4 20.6 23.0 24.3 32.7 30.3 28.9 23.2 J UN 21. 7 23.4 24.6 24.8 14.8 19.9 29.0 20.4 26.9 22.8 18.9 16.3 18 . 8 JUL 17.1 12.2 17.4 13.1 15.0 12.4 15.2 19.3 12.6 13.2 19.1 18.0 19.1 AUG 7.2 5.4 6.9 8.5 9.4 3.0 4.4 7.6 6. 8 7.0 5.1 6.1 8.8 SEP 5.8 5.3 4.7 6.5 6.5 11.3 6.9 7.3 6. 9 5.2 7.6 6.1 5.3 OCT 4. 6 8.0 3.3 3.9 6.0 8.1 5.3 5.1 3. 8 4.4 5.0 6.0 4.4 NOV 1.6 2.3 1.5 1.4 1 .3 2.3 1.6 1.9 2.3 0.5 1.1 1.3 1.6 DEC 1.8 1.4 1.3 2.3 2.2 7.9 1 .7 1.6 3.2 2.8 2.7 2.7 1.9 JAN 2. 1 1.4 1.7 2.9 1.9 1.1 2.4 2.2 1.7 2.1 1.2 2.9 3.0 FEB 1.3 1.2 0.8 0.9 1.1 2.3 1 .8 1.6 1.8 0.4 0.5 1.2 2.5 MAR 1.2 0.8 0.9 3.5 1.0 1.5 1.2 1.1 1.9 0.1 1.0 1.5 1.8 APR 1.3 1.2 1.2 0.5 3.2 1.6 0.4 1.1 1.8 0.2 0.6 1.2 1.1 2.7 1.6 1.6 4.8 10.8 3.0 3.5 2.2 3.0 0.0 0. 0 1.7 2.3 100. 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 MORE BY WEEKLY R E P O R T I N G APR 25 - A P R MAY OR TOTAL IN 6C LATER * INCLUDES 30 ONLY C E R T I F I C A T E S ISSUED IN DENOMINATIONS OF - $ 1 0 0 , 0 0 0 BANKS. TABLE MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME AT WEEKLY R E P O R T I N G BANKS BY FEDERAL R E S E R V E D I S T R I C T AS OF 24 (CUMULATIVE CD'S 196* 1969 APR CERTIFICATES OF D E P O S I T 1/ 1968 PERCENTAGE) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 5.6 2.9 8.6 7.0 6.2 6.2 26.7 28.6 27.2 41.3 37.3 35.1 29.4 45.3 55.7 49.0 54.1 64.1 56.2 51.4 48.2 56.6 57.7 70.9 68.3 66. 7 77.3 75.3 69.4 67.3 73.1 66.0 60.7 75.3 75.9 73.5 84.3 80.4 75.5 76.1 87.8 79.6 72.5 72.0 82.2 83.2 80.4 89.5 88.0 81.6 81.4 90.1 91.1 83.5 78.5 80.1 87.5 88.3 84.2 93.9 93.0 87.6 85.8 89.7 92.4 92.6 84.9 79.8 82.4 89.1 90.2 86.5 94.4 94.1 88.9 87.4 DEC 91. 5 93.8 93.9 87.2 82.0 90.3 90.8 91.8 89.7 97.2 96.8 91.6 89.3 JAN 93.6 95.2 95.6 90.1 83.9 91.4 93.2 94.0 91.4 99.3 98.0 94.5 92.3 FEB 94. 9 96.4 96.4 9 1 .0 85.0 93.7 95.0 95.6 93.2 99.7 98.5 95.7 94.8 MAR 96. 1 97.2 97.3 94.5 86.0 95.2 96.2 96.7 95.1 99.8 99.5 97.2 96.6 APR 97.4 98.4 98.5 95.0 89.2 96.8 96.6 97.8 96.9 100.0 100.1 98.4 97.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL DI S TRICTS BOSTON 7.2 6.3 MAY 31.7 J UN MATURING IN PHILADELPHIA CLEVEL AND RICHMOND ATLANTA 9.1 6.8 5.7 5.0 6.1 35.8 34.2 26.7 26.8 25.4 53.4 59.2 58.8 51.5 41.6 JUL 70.5 71.4 76.2 64 . 6 AUG 77. 7 76.8 83.1 SEP 83.5 82.1 OCT 88.1 NOV APR 25-APR MAY OR 1/ 6D 30 LATER I N C L U D E S ONLY C E R T I F I C A T E S ISSUED IN NEW VORK DENOMINATIONS OF $100,000 CHICAGO OR MORE BY WEEKLY R E P O R T I N G BANKS. • • s e e e TABLE 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 BANKS BY FEDERAL R E S E R V E D I S T R I C T OF 24 (PERCENTAGE 1968 1969 MATURING NEW YORK MONTH 1968 DISTRIBUTION) PHILADELPHIA CLEVELAND RICHMOND ATL ANT A CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 41.2 33.4 19.3 23.9 17.3 21.4 30.3 21.5 34.0 29.3 40.7 28.8 J UN 17.3 15.3 17.2 28.4 14.9 28.8 43.6 13.6 36.1 15.9 10.5 13.5 12.5 JUL 2 7.2 19.8 31.2 25.1 17.4 23.7 18.8 30.0 12.0 24.4 35.1 21.9 30.5 AUG 3.8 3.8 4.0 3.3 2.2 1.1 0.7 4.6 2.1 10.1 5.7 1.6 5.4 SEP 3.6 3.1 2.7 5.3 7.4 1.6 3.1 4.2 2. 8 4.2 3.8 3.1 4.3 OCT 8. 8 12.2 5.1 10.6 13.2 17.4 10.5 8.5 6. 8 9.9 12.0 13.8 9.6 NOV 0.6 0.7 0.5 0.0 1.0 1.3 0 .0 0. 5 2. 8 0.0 0.5 0.0 0.9 DEC 1. 1 2.1 0.8 0.9 1.3 0.2 0.3 1.8 1.7 0. 0 0.7 1 .0 1.3 JAN 0. 7 0.3 0.5 0.4 1.0 0.8 0.2 1.4 1.3 0.9 0.4 0.2 0.6 FEB 0.3 0.0 0.2 1.2 0.8 0.2 0.2 0.2 1.4 0.0 0.0 0.0 0.4 MAR 0.8 1.0 0.3 3.5 1.6 4.2 0.1 0.8 1.3 0.0 0.1 1.1 0.4 4. 7 0.4 4.1 2.0 15.2 3.4 1.2 4.0 10.2 0.6 2.0 2.9 5.2 100. 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 OR LATER * SEE 2/ INCLUDES * BOSTON PREVIOUS 31.1 1/ NOTE - ALL DISTRICTS APR SINCE MAY APR TOTAL IN e 2/ OF N E G O T I A B L E T I M E AS CD'S # 6F 1/ SALES # TECHNICAL A. ONLY C E R T I F I C A T E S SALES DETAILS APPENDIX IN THIS MAY NOT ADD TABLE TO ISSUED ARE TOTALS I N DENOMINATIONS NOT A D J U S T E D DUE FOR C D ' S TO R O U N D I N G . OF $ 1 0 0 , 0 0 0 THAT OR MORE BY WEEKLY R E P O R T I N G HAVE MATURED, BANKS. TECHNICAL APPENDIX A DERIVATION OF GROSS SALES OF CERTIFICATES OF DEPOSIT Sales of CD's between survey dates are derived in the following manner. Outstanding CD s maturing in each month of the previous survey are subtracted from maturities in the same month of the current survey. Those CD' 8 maturing in the remaining portion of the month in which the current survey is taken are ignored. Those CD's maturing after the last individual month shown in the current survey (i.e. CD's with the longest maturity) are added to those CD's maturing in the last individual month shown on that survey in order to derive an outstanding quantity for a time period com- parable to the longest maturity CD's shown on the previous survey. The procedure used produces gross sales of CD's between survey dates maturing in each of the eleven full months after the currect survey, and combines sales of CD's maturing in twelve or more months. are also lost by the method described above. Some sales Sales of CD's between the survey dates that mature in the remaining days of the calendar month of the current survey are ignored. However, since the minimum maturity for time deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are lost from the series as derived in this manner. Total derived sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month—after the survey date—are assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD's mature in the middle of the month. Any CD's sold between survey dates and maturing in the period between the current survey date and the end of the calendar month in which the current survey was taken (a maximum of 6 days) are ignored. Technical Note B (continued) This procedure assumes all CD's sold between survey dates were issued on the most recent survey date. While it appears more logical to assume that all CD's were sold at the mid-point between the two surveys, such an assumption would tend to reduce compatibility between average maturities of outstandings and of sales as a result of using two different starting dates for the calculations. If the assumption is made that all CD's are sold at the mid-point between surveys, the average maturity of sales would be lengthened relative to the average maturity of outstandings, by, in effect, using an earlier starting date for sales than for outstandings. Sales of CD's maturing in a particular month are often a large and highly variable proportion of total sales while changes in outstandings due in any particular month are a small and rather stable proportion of the level of total outstandings. As a result, the average maturity of sales is much more sensitive to month-to-month variation in the maturity structure of sales than is the case with the outstandings series. Thus, 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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