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L.4.1 CONFIDENTIAL (FR) November'5, 1973 # -fie. ' fVGV t o S E ory I /J ® E A SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS as of September 26, 1973 NOTE: Sales since the previous survey and comparison with previous data reflect revisions in the August report whereby $10.5 million in outstanding negotiable CD's have been deducted from the series. Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System # # # # # # e e # e TABLE L 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS AS OF 26 SEP 1973 CD'S MATURING IN AMOUNT (MILLIONS OF DOLLARS) PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2/ (MILLIONS OF DOLLARS) 2,838.6 4.1 4.1 .0 OCTOBER 25,428.3 36.9 41.0 9,054.8 NOVEMBER 12,827.0 18.6 59.6 3,616.8 DECEMBER 11#574.3 16.6 76.4 6,247.7 JANUARY 5,686.8 8.3 84.7 2,246.9 FEBRUARY 1,949.5 2.8 87.5 498.6 MARCH 2,329.4 3.4 90.9 942.0 APRIL 1,174.7 1.7 92.6 110.1 781.0 1.1 93.7 60.9 JUNE 1,024.2 1.5 95.2 132.2 JULY 676.0 1.0 96.2 17.1 AUGUST 783.2 1.1 97 + 3 105.7 SEPTEMBER 356.5 .5 97.8 228.0 1,438.7 2.1 100*0 XXX 68,866.5 100.0 XXX 23,260#9 SEPTEMBER 27 - 30 MAY OVER 12 MONTHS TOTAL (MEMORANDUM: DECEMBER 10 DECEMBER 17 1,119.8 1,407.6 TAX AND DIVIDEND MATURITIES) 1.6 2.0 XXX XXX 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEFKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER 11 MONTHS. # TABLE 2A 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO. AND ALL OTHER WEEKLY REPORTING BANKS AS OF 26 SEP 1973 (IN MILLIONS OF DOLLARS) CD'S MATURING IN AMOUNT 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/ 219.8 .0 1,636.3 .0 OCTOBER 8,222.6 3,284.8 3,027.1 492.2 14,177.6 5,276.8 NOVEMBER 3.999.1 1,248.8 1,489.0 370.2 7,339.0 1,997.8 DECEMBER 4,096.5 2,458.7 1,357.4 907.2 6,119.8 2,881.2 JANUARY 1,648.7 1,005.1 470.2 184.0 3,567.9 1,057.8 FEBRUARY 391.1 199.9 97.6 22.6 1,460.8 276.1 MARCH 660.4 348.4 107.2 70.9 1,561.3 522.1 APRIL 169.5 20.7 44.4 7.3 960.9 CM 04 CO MAY 161.4 1.0 12*1 2.2 607.6 57.8 JUNE 368.9 6.7 16.3 .1 639.0 125.4 JULY 233.7 •3 35.5 .2 406.8 16.7 AUGUST 258.5 49.3 .4 476.9 55.9 289.7 208.0 SEPTEMBER 11.7 1.0 Z3 187.3 XXX 90.3 XXX 1,161.1 XXX 21,435.5 8,642.7 7,026.4 2,058.3 40,404.7 12,557.8 OVER 12 MONTHS TOTAL * 19.0/3 55.1 H- .0 CO 982.7 SEP 27 - SEP 30 NUMBER OF REPORTING BANKS (MEMORANDUM! DECEMBER 10 DECEMBER 1? 394.7 615.7 TAX AND DIVIDEND MATURITIES) 11*.4 178.2 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATION OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER 11 MONTHS. * TOTALS MAY NOT ADD DUE TO ROUNDING. 236 12 12 606 613 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 26 SEP 1973 AND 29 AUG 1973 (PERCENTAGE DISTRIBUTION) NEW YORK CITY CD•S MATURING IN 26 SEP ALL OTHER CHICAGO 29 AUG 26 SEP 29 AUG 26 SEP 29 AUG 4.6 4.3 3.1 4.9 4.0 3.8 01 MONTHS 3/ 38.4 41.0 43.1 31.9 35.1 31.6 02 MONTHS 18.7 22.9 21.2 33.7 18.2 21.9 03 MONTHS 19.1 12.7 19.3 14.9 15.1 13.2 04 MONTHS 7.7 7.6 6.7 6.0 8.8 8.0 05 MONTHS 1.8 3.0 1.4 3.8 3.6 6.2 06 MONTHS 3.1 .9 1.5 1.0 3.9 2.9 07 MONTHS .8 1.4 .6 .5 2.4 2.6 08 MONTHS .8 .7 .2 .5 1.5 2.2 09 MONTHS 1.7 .7 .2 .1 1.6 1.4 10 MONTHS 1.1 1.7 .5 .2 1.0 1.3 11 MONTHS 1.2 1.1 .7 .5 1.2 1.0 12 MONTHS .3 1*0 .2 .6 .7 1.0 .9 1.0 1.3 1.3 2.9 3.1 100.0 100.0 100.0 100.0 100.0 100.0 0-6 DAYS 2/ OVER 12 MONTHS TOTAL * 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 M0N7H. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. * TOTALS MAY NOT ADD DUE TO ROUNDING. TABLE 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO. AND ALL OTHER WEEKLY REPORTING BANKS AS OF 26 SEP 1973 AND 29 AUG 1973 (CUMULATIVE DISTRIBUTION) CD'S MATURING IN 0*6 DAYS 2/ NEW YORK CITY 26 SEP 29 AUG CHICAGO 26 SEP ALL OTHER 29 AUG 26 SEP 29 AUG 4,6 4.3 3.1 4.9 4.0 3.8 01 MONTHS 3/ 43.0 45.3 46.2 36.8 39.1 35,4 02 MONTHS 61.7 68.2 67.4 70.5 57.3 57.3 03 MONTHS 80.8 80.9 86.7 85.4 72.4 70.5 04 MONTHS 88.5 88.5 93.4 91.4 81.2 78.5 05 MONTHS 90.3 91.5 94.8 95.2 84.8 84.7 06 MONTHS 93.4 92.4 96.3 96.2 88.7 87.6 0? MONTHS 94.2 93.8 96.9 96.7 91.1 90.2 08 MONTHS 95.0 94.5 97.1 97.2 92.6 92.4 09 MONTHS 96.7 95.2 97.3 97.3 94.2 93-. 8 10 MONTHS 97.8 96.9 97.8 97.5 95.2 95.1 11 MONTHS 99.0 98.0 98.5 98.0 96.4 96.1 12 MONTHS 99.3 99.0 98.7 98.6 97.1 97.1 100.0 100.0 100.0 100.0 100.0 100.0 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 26 SEP 1973 (AMOUNTS IN MILLIONS OF DOLLARS) $1 BILLION ANDi OVER CD'S MATURING IN 27-30 $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 2,838.9 165.3 358.4 508.2 1,807.0 941.7 558.7 306.6 OCTOBER 25,428.3 1,137.5 2,893.3 4,200.9 17,196.6 7,969.5 6,804.7 2,422.4 NOVEMBER 12,827.0 610.2 I*514.0 2,265.4 8,437.4 3,763.7 3,439.8 1,233.9 DECEMBER 11,574.2 476.2 1,255.8 1,743.5 8,098.7 3,946.7 3,194.6 957.4 5,686.9 301.5 736.1 843.6 3,805.7 1,574.2 1,580.7 650.8 FEBRUARY 1,949.4 144.2 278.5 335.7 1,191.0 380.0 567.4 243.6 MARCH 2,329.3 118.9 266.5 354.7 1,589.2 580.4 823.9 184.9 APRIL 1.174.6 74.3 186.9 226.3 687.1 150.1 381.4 155.6 781.0 59.8 122.9 172.0 426.3 149.3 203.9 73.1 JUNE 1,024.1 63.8 in 1973 SEP TOTAL 129.2 735.7 366.3 303.8 65.6 JULY 676.0 49.2 106.8 71.4 448.6 232.3 136.4 79.9 AUGUST 783.2 46.3 60.6 74.4 601.9 250.4 311.1 40*4 SEPTEMBER 356.5 26.1 38.9 58.9 232.6 54.2 167.0 11.4 OCTOBER OR LATER 1,438.7 123.4 122.9 298.1 894.3 156.9 584.7 152.7 68,868.1 3,396.7 8,037.0 11,282.3 46,152.1 20,515.7 19,058.1 6,578.3 1974 JANUARY MAY TOTAL * TAX AND DIVIDEND MATURITIES) DECEMBER 10 1,119.7 33.5 98.6 180.3 807.3 359.5 324.1 123.7 DECEMRER 17 1,407.6 29.4 97.4 160.6 1,120.2 583.9 409.6 126.7 37 7 12 18 lUPUHDAUnllUl 260 87 MlJUDCD vr HP BAlNJxbJ D A klU C ) INUHDtK 86 50 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. Digitized for*FRASER TABLE 38 SALES /!/ OF NEGOTIABLE AT TIME WEEKLY -s CERTIFICATES REPORTING AS (AMOUNTS OF IN OF BANKS 26 SEP MILLIONS DEPOSIT BY SIZE SINCE OF PREVIOUS BANKS MONTH 1973 OF DOLLARS) $1 $200 $200 CD'S MATURING IN TOTAL MILLION AND MILLION $500 TO UNDER $500 2/ 3/ BILLION MILLION AND PRIME MILLION $1 BILLION TOTAL OUTSIDE YORK CITY 1974 SEP 4/ TO NEW 1973 OVER NEW NON-PRIME YORK CITY 27-30 OCTOBER 9,054.9 507.7 1,048.3 1,334.3 6,164.6 3,205.2 2,134.3 825.1 NOVEMBER 3*616.8 165.6 424.2 576.9 2,450.1 1,200.1 936.1 313.9 DECEMBER 6,247.6 237.3 627.1 898.3 4,484.9 2,403.4 1,648.6 432.9 JANUARY 2,247.0 83.8 224.4 348.5 1,590.3 978.0 372.2 240.1 FEBRUARY 498.5 11.8 33.8 96.5 356.4 196.1 69.2 91.1 MARCH 941.8 50.9 125.8 162.6 602.5 344.6 239.4 18.5 APRIL 110.1 4.3 3.8 13.6 88.4 17.2 48.4 22.8 60.9 1.7 9.5 11.7 38.0 0.9 35.4 1.7 JUNE 132.1 4.8 4.9 12.1 110.3 6.8 97.9 5.6 JULY 17.2 1.7 6.3 1.7 7.5 0.1 5.8 1.6 105.7 3.8 9.4 20.1 72.4 49.3 22.5 0.6 228.2 28.2 33.1 27.4 139.5 13.3 114.6 11.6 23,260.8 1,101.6 2,550.6 3,503.7 16,104.9 8,415.0 5,724.4 1,965.5 37 7 12 18 MAY AUGUST SEPTEMBER OR LATER TOTAL * t MFMHD AKinl IM • 260 1/ SEE 2/ INCLUDES 3/ TOTAL 7 * TECHNICAL APPENDIX CERTIFICATES DEPOSITS AS 87 86 50 1. IN DENOMINATIONS REPORTED IN THE CALL RER!RTE5N5Y S S S L S S S S 5 O " ? S S E N E K I I S B I TOTALS MAY NOT ADD DUE TO ROUNDING# MIIMDCD AC DAMl/Ct —• Ur BANKS/ iNUWBtN E O S OF $100,000 REPORT C 2 T OF 5 ! : J S S OR MORE CONDITION T 5 S X S ? S D O F ISSUED ON 0 BY WEEKLY DECEMBER K S H A S ? H S S 31, E REPORTING BANKS. 1965. « ? 5 ? H A ? H S E 5 S S O S 5 A S 5 E N ! 5 S 5 ; T Q U A L I T Y A N D " H I C H A R E # e TABLE 3C # e # e # # # e MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 26 SEP 1973 PERCENTAGE DISTRIBUTION $1 BILLION AND OVER CD'S MATURING IN 1973 SEP 27-30 TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 4.1 4.9 4.5 4.5 3.9 4.6 2.9 4.7 OCTOBER 36.9 33.5 36.0 37.2 37.3 38.8 35.7 36.8 NOVEMBER 18.6 18.0 18.8 20.1 18.3 18.3 18.0 18.8 DECEMBER 16.8 14.0 15.6 15.5 17.5 19.2 16.8 14.6 8.3 8.9 9.2 7.5 8.2 7.7 8.3 9.9 FEBRUARY 2.8 4.2 3.5 3.0 2.6 1.9 3.0 3.7 MARCH 3.4 3.5 3.3 3.1 3.4 2.8 4.3 2.8 APRIL 1.7 2.2 2.3 2.0 1.5 0.7 2.0 2.4 MAY 1.1 1.8 1.5 1.5 0.9 0.7 1.1 1.1 JUNE 1.5 1.9 1.2 1.1 1.6 1.8 1.6 1.0 JULY 1.0 1.4 1.3 0.6 1.0 1.1 0.7 1.2 AUGUST 1.1 1.4 0.8 0.7 1.3 1.2 1.6 0.6 SEPTEMBER 0.5 0.8 0.5 0.5 0.5 0.3 0.9 0.2 OCTOBER OR LATER 2.1 3.6 1.5 2.6 1.9 0.8 3.1 2.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1974 JANUARY TOTAL » \ I i b vn R. H vv i 1 HA 1 0 0 . 0 U I V I UCIxU MA 1 Un 1 1 IE5) N 7 U 7 NCKIN U A T I I D 7 T T C C % DECEMBER 10 1.6 l.o 1.2 1.6 1.7 1.8 1.7 1.9 DECEMBER 17 2.0 0.9 1.2 1.4 2.4 2.8 2.1 1.9 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. ° u , L m *"D " B 1 C H , 8 E # # TABLE # # 3D # MATURITY DISTRIBUTION OF AT # OUTSTANDING WEEKLY # NEGOTIABLE REPORTING AS OF BANKS 26 SEP CUMULATIVE TIME BY # # CERTIFICATES SIZE OF BANKS OF DEPOSIT $200 MATURING IN TOTAL $200 AND UNDER MILLION $500 1/ 1973 PERCENTAGE $500 BILLION 27-30 3/ MILLION $1 BILLION OUTSIDE TOTAL YORK NEW NON-PRIME YORK CITY CITY 4.9 4.5 4.5 3.9 4.6 2.9 4.7 OCTOBER 41.0 38.4 40.5 41.7 41.2 43.4 38.6 41.5 NOVEMBER 59.6 56.4 59.3 61.8 59.5 61.7 56.6 60.3 DECEMBER 76.4 70.4 74.9 77.3 77.0 80.9 73.4 74.9 JANUARY 84.7 79.3 84.1 84.8 85.2 88.6 81.7 84.8 FEBRUARY 87.5 83.5 87.6 87.8 87.8 90.5 88.5 MARCH 90.9 87.0 90.9 90.9 91.2 93.3 89.0 91.3 APRIL 92.6 89.2 93.2 92.9 92.7 94.0 91.0 93.7 MAY 93.7 91.0 94.7 94.4 93.6 94.7 92.1 94.8 JUNE 95.2 92.9 95.9 95.5 95.2 96.5 93.7 95.8 JULY 96.2 94.3 97.2 96.1 96.2 97.6 94.4 97.0 AUGUST 97.3 95.7 98.0 96.8 97.5 98.8 96.0 97.6 SEPTEMBER 97.8 96.5 98.5 97.3 98.0 99.1 96.9 97.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 * 4.1 CO 1974 SEP OVER TO NEW 1973 AND PRIME MILLION TO MILLION # 2/ $1 CD'S # OCTOBER OR LATER 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME BANKS REPORTED CERTIFICATES BY ARE AS THOSE DEALERS IN DENOMINATIONS REPORTED TO IN WHOSE TRADE THE CALL NEGOTIABLE WITHIN 1 OF $100,000 REPORT OF CERTIFICATES OR 2 BASIS OR MORE CONDITION OF POINTS ISSUED ON DEPOSIT OF BY WEEKLY DECEMBER EACH ARE 31, REPORTING REGARDED OTHER BANKS. 1965. WITHIN AS BEING THE OF THE SECONDARY HIGHEST MARKET. QUALITY AND WHICH ARE • s TABLE e # SALES 3E /!/ e OF NEGOTIABLE AT e TIME WEEKLY # CERTIFICATES REPORTING AS OF OF BANKS 26 PERCENTAGE DEPOSIT BY SEP # SIZE SINCE OF e PREVIOUS BANKS MONTH 1973 DISTRIBUTION $1 $200 CD'S MATURING IN TOTAL $200 MILLION AND $500 UNDER $500 BILLION 1974 SEP MILLION $1 OUTSIDE TOTAL BILLION YORK NEW NON-PRIME YORK CITY CITY OCTOBER 38.9 46.1 41.1 38.1 38.3 38.1 37.3 42.0 NOVEMBER 15.5 15.0 16.6 16.5 15.2 14.3 16.4 16.0 DECEMBER 26.9 21.5 24.6 25.6 27.8 28.6 28.8 22.0 JANUARY 9.7 7.6 8.8 9.9 9.9 11.6 6.5 12.2 FEBRUARY 2.1 1.1 1.3 2.8 2.2 2.3 1.2 4.6 MARCH 4.0 4.6 4.9 4.6 3.7 4.1 4.2 0.9 APRIL 0.5 0.4 0.1 0.4 0.5 0.2 0.8 1.2 MAY 0.3 0.2 0.4 0.3 0.2 0.0 0.6 0.1 JUNE 0.6 0.4 0.2 0.3 0.7 0.1 1.7 0.3 JULY 0.1 0.2 0.2 0.0 0.0 0.0 0.1 0.1 AUGUST 0.5 0.3 0.4 0.6 0.4 0.6 0.4 0.0 1.0 2.6 1.3 0.8 0.9 0.2 2.0 0.6 100.0 100.0 100.0 100.0 100.0 OR LATER TOTAL * 100.0 260 1/ SEE 2/ INCLUDES TECHNICAL 3/ TOTAL DEPOSITS PRIME BANKS REPORTED TOTALS APPENDIX CERTIFICATES ARE BY MAY AS THOSE NOT ADD TO DUE NUMBER OF 86 87 BANKS) 12 37 50 18 A. IN DENOMINATIONS REPORTED DEALERS 100.0 100.0 (MEMORANDUM: * 4/ 27-30 SEPTEMBER 4/ OVER TO NEW 1973 AND PRIME MILLION TO MILLION 2/ 3/ IN WHOSE TRADE TO THE CALL NEGOTIABLE WITHIN ROUNDING. 1 OF $100,000 REPORT OF CERTIFICATES OR 2 BASIS OR MORE CONDITION OF POINTS ISSUED ON DEPOSIT OF BY WEEKLY DECEMBER EACH ARE 31, REPORTING REGARDED OTHER BANKS. 1965. WITHIN AS BEING THE OF THE SECONDARY HIGHEST MARKET. QUALITY AND WHICH ARE TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES (IN MONTHS) BANK CLASSIFICATION DATE OF SURVEY 26 SEP 1973 29 AUG 1973 25 JUL 1973 (BY LOCATION) ALL REPORTING BANKS ISSUING CDTS 2.5 2.5 2.6 NEW YORK CITY 2.2 2.1 2.3 CHICAGO 1.9 1.9 2.0 OTHER 2.7 2.8 3.0 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 2.9 3.0 3.1 S200-S500 MILLION 2.5 2.5 2.7 *500-31,000 MILLION 2.4 2.5 2.7 OVER $1 BILLION 2.5 2.4 2.6 PRIME IN NEW YORK CITY 3/ 2.2 CM 2.2 PRIME OUTSIDE NEW YORK CITY 3/ 2.7 2.7 2.9 NON-PRIMF 2.4 2.5 2.8 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. TABLE AVERAGE 4B MATURITY OF NEGOTIABLE SOLD DURING TIME BY THE CERTIFICATES WEEKLY REPORTING MONTH (IN OF OF VARIOUS SURVEYS MONTHS) SEP 1973 29 (BY REPORTING ISSUING CD'S PRIME BANKS CHICAGO 2.2 1.8 2.0 OTHER 2.2 2»2 2.3 $200 MILLION MILLION $1 MILLION BILLION PRIME IN PRIME OUTSIDE CERTIFICATES ARE LOCATION) 2.3 CITY NEW YORK CITY 3/ NEW YORK CITY 3/ NON-PRIMF 3/ 1973 1.8 OVER AS YUL 2.1 YORK $500«$1«000 DEPOSITS 25 2.3 S200-S500 TOTAL 1973 2.0 UNDER 2/ AUG BANKS (BY INCLUDES SURVEY 2.2 NEW 1/ OF CLASSIFICATION 26 ALL 1/ BANKS PATE BANK DEPOSIT IN DENOMINATIONS REPORTED THOSE WHOSE IN THE CALL NEGOTIABLE W H I C H A R E R E P O R T E D B Y D E A L E R S http://fraser.stlouisfed.org/ N O T E — S E E TECHNICAL APPENDIX B. Federal Reserve Bank of St. Louis TO TRADE OF $100,000 REPORT OF OR 1 OR BANK) 2/ 2.3 2.6 2.1 2.0 2.2 2.2 2.0 2.3 2.2 2.0 2.3 2.1 1.8 2.3 2.3 2.2 2.1 2.0 2.0 2.6 MORE OF 2 OF 2.1 CONDITION CERTIFICATES WITHIN SIZE ISSUED ON DEPOSIT BASIS BY WEEKLY DECEMBER ARE POINTS 31, EACH BANKS. 1965. REGARDED OF REPORTING AS OTHER BEING OF WITHIN THE THE HIGHEST SECONDARY QUALITY MARKET. AND TABLE RATIO OF OUTSTANDING 5A NEGOTIABLE TO AT TIME TOTAL VARIOUS (PER CERTIFICATES TOTAL ALL DEPOSITS MILLIONS BANKS OF SURVEY DATES CENT) OF SURVEY 2/ DOLLARS) 26 SEP 1973 29 AUG 1973 25 JUL 1973 ISSUING 21.1 22.3 20.3 UNDER 200 9.3 13.5 12.9 200 - 500 17.5 18.1 16.7 500 - 1000 21.0 20.5 19.3 24.3 25.0 22.4 28.5 29.8 27.1 23.2 23.6 20.6 18.1 19.0 17.3 1000 PRIME IN NEW PRIME OUTSIDE YORK 3/ NEW YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME BANKS WHICH ARE 1/ CD'S OVER NOTE* DEPOSIT DEPOSITS DATE (IN OF CERTIFICATES ARE AS DENOMINATIONS REPORTED THOSE REPORTED IN BY WHOSE IN THE CALL NEGOTIABLE DEALERS TO TRADE OF $100*000 REPORT OF OR CONDITION CERTIFICATES WITHIN DEPOSITS IN T H E D E N O M I N A T O R O F T H E R A T I O INTERBANK AND U.S. GOVERNMENT DEPOSITS. IN 1 MORE OR THIS OF 2 ISSUED ON DEPOSIT BASIS TABLE WEEKLY DECEMBER ARE POINTS ARE RY 31, TOTAL BANKS. 1965. REGARDED OF REPORTING AS EACH OTHER DEMAND AND BEING OF WITHIN TIME THE THE HIGHEST SECONDARY DEPOSITS, QUALITY MARKET. INCLUDING AND • e e e # # TABLE RATIO OF OUTSTANDING NEGOTIABLE TOTAL (IN ALL DEPOSITS MILLIONS BANKS OF 2/ DOLLARS) CERTIFICATES TO TOTAL DEPOSITS AS OF SEP (NUMBER e # OF OF DEPOSIT 1/ 1973 BANKS) 5* 5 10 15 20 25% AVERAGE OR TO TO TO TO OR TO 10% 15% 20% 25% LESS RATIO MORE (PER 28 47 43 43 61 21.1 UNDER 200 12 15 22 12 17 9 9.3 200 « 500 19 5 16 13 12 21 17.5 500 - 1000 5 6 6 7 7 19 21.0 2 2 3 11 7 12 24.3 0 0 0 1 1 5 28.5 0 0 1 4 3 4 23.2 2 2 2 6 3 3 18.1 1000 PRIME IN PRIME OUTSIDE NEW YORK NEW 3/ YORK 3/ NONPRIME CERTIFICATES 1/ INCLUDES 2/ TOTAL DEPOSITS PRIME BANKS WHICH ARE NOTE- CENT) ISSUING 38 3/ CD DEPOSIT CD'S OVER • SB TIME 26 # AS APE INTERBANK IN THOSE THE AND DENOMINATIONS REPORTED REPORTED DEPOSITS IN BY WHOSE IN CALL NEGOTIABLE DEALERS DENOMINATOR U.S. THE TO OF GOVERNMENT TRADE THE OF $100,000 REPORT OF OR CONDITION CERTIFICATES WITHIN RATIO DEPOSITS. IN 1 MORE OR THIS OF 2 ISSUED ON DEPOSIT BASIS TABLE WEEKLY DECEMBER ARE POINTS ARE BY 31, TOTAL BANKS. 1965. REGARDED OF REPORTING AS EACH OTHER DEMAND AND BEING OF WITHIN TIME THE THE HIGHEST SECONDARY DEPOSITS, QUALITY MARKET. INCLUDING AND TABLE PER CENT CHANGE IN OUTSTANDING 29 AUG NEGOTIABLE 1973 TO (NUMBER DECLINES TOTAL DEPOSITS 2/ ALL MILLIONS BANKS OF 26 OF TIME SEP CERTIFICATE OF DEPOSIT /I INCREASES OF 1973 BANKS) OF REDUCED CD'S (IN 5C DOLLARS) ISSUED TO 10* ZERO OR 5 MORE TO 5% 10* OR NO LESS 5% CHANGE OR 5 LESS TO 10% 10% OR MORE CD'S HAD NONE ING ON BASE 36 27 51 11 61 35 38 UNDER 200 1 8 5 17 4 26 13 14 0 200 - 500 0 15 10 18 5 17 7 13 1 500 - 1000 0 9 6 7 2 12 7 7 0 0 4 6 9 0 6 8 4 0 0 0 2 2 0 1 2 0 0 0 1 4 3 0 1 1 2 0 0 3 0 4 0 4 5 2 0 1000 PRIME IN PRIME OUTSIDE NEW YORK 3/ NEW YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME BANKS WHICH ARE NOTE- DATE ISSUING CD»S OVER BUT OUTSTAND- CERTIFICATES AS ARE DENOMINATIONS REPORTED THOSE REPORTED OF IN THE NUMBER HAD OUTSTANDING BY IN WHOSE CD#S IN ON CALL NEGOTIABLE DEALERS BANKS THE THIS THE TO TRADE TABLE LAST OF $100*000 REPORT OF OR CONDITION CERTIFICATES WITHIN DIFFERS SURVEY 1 MORE OR FROM REDUCED OF 2 ISSUED ON THOSE THEIR IN WEEKLY DECEMBER DEPOSIT BASIS RY ARE POINTS MOST 31# REPORTING 1965. REGARDED OF OTHER OUTSTANDINGS EACH AS BEING OTHER TABLES TO BANKS# ZERO TO ON OF WITHIN THE THE THE EXTENT THIS HIGHEST QUALITY SECONDARY THAT SURVEY# BANKS MARKET. THAT AND TABLE 50 PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT Z1 27 JUN 1973 TO 26 SEP 1973 (NUMBER OF BANKS) ^ S e b U T HAD (IN MILLIONS OF DOLLARS) CD'S 25% 20 15 10 25% 20% 15% ^ 5* NO 5% 5^ 10% LESS CHANGE LESS 10% 10 15 20 15% 20* 25% 25% OUTSTANDING MORE ON BASE DATE ZERO MORE ALL BANKS ISSUING ! 16 4 4 4 22 22 1 23 31 20 18 14 60 1 UNDER 200 1 6 0 2 0 11 7 1 11 10 5 2 6 26 0 200 - 500 0 7 4 0 3 6 10 0 7 8 7 6 5 22 1 500 - 1000 0 3 0 2 1 4 1 0 2 8 3 6 2 18 0 OVER 1000 0 0 0 0 0 1 4 0 3 5 5 4 1 14 0 PRIME IN NEW YORK 3/ 0 0 0 0 0 1 0 0 2 0 2 0 0 2 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 0 0 0 1 0 0 3 1 7 a NONRRIME 0 0 0 0 0 0 4 0 0 5 3 1 0 5 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED FY WEEKLY REPORTING 8ANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31. 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF FACH OTHER WITHIN THE SECONDARY MARKET. NOTE- THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING CD'S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. TABLE 5E CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE MONTH AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 29 AUG 1973 TO 26 SEP 1973 (NUMBER OF BANKS) INCREASES OF DECLINES OF TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) ALL BANKS ISSUING CD'S 3% AND OVER 2 TO 3% 1% AND LESS 1 TO 2% NO CHANGE 1% AND LESS 1 3% AND OVER 2 TO 3% TO 2% 15 13 27 60 11 73 38 13 UNDER 200 0 3 4 ?4 4 34 13 2 3 200 - 500 5 6 13 19 5 16 14 5 2 500 - 1000 4 3 7 8 2 14 9 1 2 OVER 1000 6 1 3 9 0 9 2 5 2 PRIME IN NEW YORK 3/ 1 0 1 2 0 1 0 2 0 PRIME OUTSIDE NEW YORK 3/ 2 1 2 3 0 1 1 0 2 NONPRIME 3 0 0 4 0 7 1 3 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED RY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31* 1965. 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH APE REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. NOTE- • DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. • • • • • • • • • TABLE CHANGE OVER IN OUTSTANDING THE LAST NEGOTIABLE THREE AT MONTHS THE 27 AS (IN ALL DEPOSITS MILLIONS BANKS OF 2/ DECLINES DOLLARS) 5% TIME A BEGINNING JUN 1973 TO (NUMBER TOTAL 5F PER OF 26 OF CERTIFICATES CENT THE SEP OF OF TOTAL DEPOSIT 1/ DEPOSITS PERIOD 1973 BANKS) OF INCREASES 4 3 2 1 AND TO TO TO TO AND OVER 5% 4% 3% 2% LESS 1% NO 2 3 4 AND TO TO TO TO AND UNDER 2% 3% 4% 5% OVER 1% CHANGE OF 1 5% ISSUING CD'S 5 1 3 7 14 41 1 45 34 22 19 21 45 UNDER 200 2 0 0 2 8 14 1 22 13 5 3 4 13 200 - 500 1 1 3 2 2 20 0 14 8 7 11 5 10 500 - 1000 2 0 0 3 2 4 0 5 8 7 2 5 12 0 0 0 0 2 3 0 4 5 3 3 7 10 0 0 0 0 1 0 0 1 1 0 1 1 2 0 0 0 0 0 0 0 1 0 0 1 5 5 0 0 0 0 1 3 0 2 4 3 1 1 3 HIGHEST QUALITY OVER 1000 PRIME IN NEW PRIME OUTSIDE YORK NEW 3/ YORK 3/ NONPRIME 1/ INCLUDES 2/ TOTAL DEPOSITS 3/ PRIME BANKS WHICH ARE NOTE- CERTIFICATES AS ARE INTERBANK IN THOSE THE AND DENOMINATIONS REPORTED REPORTED DEPOSITS IN BY WHOSE IN CALL NEGOTIABLE HEALERS DENOMINATOR U.S. THE TO OF GOVERNMENT TRADE THE OF $100*000 REPORT OF OR CONDITION CERTIFICATES WITHIN RATIO DEPOSITS. IN 1 MORE OR THIS OF 2 ISSUED ON DEPOSIT BASIS TABLE WEEKLY DECEMBER ARE POINTS ARE RY 31, TOTAL BANKS. 1965. REGARDED OF REPORTING AS EACH OTHER DEMAND AND BEING OF WITHIN TIME THE THE SECONDARY DEPOSITS* MARKET. INCLUDING AND TABLE MATURITY DISTRIBUTION OF OUTSTANDING AT BY WEEKLY FEDERAL AS (AMOUNTS CD'S MATURING IN 1974 26 SEP YORK DELPHIA 2838.7 102.2 1175.2 OCT 25427.2 1482.0 NOV 12827.1 DEC CERTIFICATES DEPOSIT 1/ DISTRICT 1973 MILLIONS OF DOLLARS) " ~~ " CLEVE- OF RICH- " """ CHI- ST. MINNE- KANSAS CAGO LOUIS APOLIS CITY MOND 67.2 112.3 133.8 135.4 343.2 22.2 35.0 9802.1 1028.0 1160.7 706.1 998.2 4066.9 367.3 603.9 4741.5 493.1 642.4 391.6 501.8 2225.7 11573.7 490.7 4615.2 471.3 450.5 327.2 429.6 JAN 5686.7 220.5 1828.2 296.2 270.6 165.9 FEB 1949.4 50.5 444.4 135.0 135.3 MAR 2329.0 118.9 697.4 57.8 APR 1174.7 126.9 197.2 MAY 781.0 96.4 JUN 1024.3 JUL ATLANTA FRANDALLAS CISCO 59.0 213.7 439.5 382.8 417.8 931.1 4084.2 224.1 214.5 233.6 457.3 2097.6 1843.0 149.5 146.1 229.0 489.8 1931.8 280.2 715.1 103.6 63.1 169.8 314.6 1258.9 77.1 127.8 174.2 40.1 6.6 78.5 145.4 534.5 163.1 105.2 118.4 169.9 42.6 4.0 63.6 117.5 670.6 18.5 120.6 52.5 94.9 90.8 22.6 4.2 35.7 107.9 302.9 183.7 21.5 79.2 43.1 48.7 38.7 12.0 2.8 38.0 51.3 165.6 182.3 385.3 10.1 50.5 18.1 39.8 42.0 6.4 3.8 29.0 56.8 200.2 676.1 51.5 243.2 4.2 55.9 16.3 59.5 52.8 10.9 2.6 25.3 80.8 73.1 AUG 783.3 98.1 267.7 14.0 54.9 15.6 33.2 57.3 12.2 3.4 14.5 24.6 187.8 SEP 356.6 121.3 59.0 4.7 11.4 25.2 17.8 18.3 3.1 1.2 15.8 20.1 58.7 1438.6 118.5 200.2 83.7 462.3 38.9 83.9 129.6 40.6 3.3 36.4 135.2 106.0 68866.4 3863.7 24840.3 2705.3 3769.7 2116.6 2969.2 9967.5 1057.2 873.4 1446.0 3146.1 12111.4 2.4 3.2 2.1 2.3 3.8 2.5 2.8 1.9 2.7 1.6 3.0 3.0 2.6 <60 19 41 9 22 18 24 36 11 5 18 25 J2 SEP 27 -SEP OR 30 LATER * MATURITY MONTHS NUMBER 2/ OF REPORTING BANKS 1/ INCLUDES 2/ SEE ONLY TECHNICAL DETAILS MAY . RESERVE TIME BANKS LAND AVERAGE • PHILA- QOSTON TOTAL » NEW TRICTS OCT IN IN NEGOTIABLE REPORTING ALL DIS- 1973 OF 6A • NOT CERTIFICATES APPENDIX ADD • TO ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. B. TOTALS DUE • TO ROUNDING. # # e # # # TABLE 6B 1/ SALES 2/ OF NEGOTIABLE TIME CERTIFICATES WEEKLY BY (AMOUNTS CD'S MATURING IN 1974 SEP MONTH DISTRICT 1973 MILLIONS OF DOLLARS) YORK DELPHIA OCT 9053.7 493.1 3930.5 NOV 3616.8 142.9 DEC 6247.3 JAN CLEVE- RICH- CHICAGO ST. MINNE- KANSAS LOUIS APOLIS CITY LAND MOND 317.1 396.0 187.8 330.8 774.7 107.9 138.0 1498.6 139.8 184.0 87.9 113.5 503.4 55.3 227.0 2764.5 191.9 218.0 171.4 165.6 1170.A 2246.9 73.9 1082.0 126.7 137.2 44.3 57.2 FEB 498.6 14.1 206.6 77.4 22.3 20.8 MAR 941.5 30.3 360.4 6.4 53.3 APR 112.9 2.8 21.5 2.6 MAY 61.3 9.2 1.5 JUN 132.6 71.0 JUL 18.2 AUG OR CISCO 158.1 434.4 1785.3 94.0 55.4 165.5 576.5 77.2 95.6 103.8 232.2 829.3 288.3 42.4 46.2 48.3 103.2 197.2 19.2 34.1 7.3 1.8 15.1 25.4 54.5 57.2 59.5 83.4 24.5 0.7 34.0 57.8 174.0 17.2 1.0 6.5 8.1 0.2 0.1 0.2 18.0 34.7 1.4 13.3 3.5 1.6 2.7 0.4 0.6 0.2 2.5 24.4 9.5 2.5 4.3 0.0 1.4 6.3 0.5 0.3 0.1 6.5 30.2 2.2 1.4 0.0 0.8 0.4 3.9 1.0 0.7 0.1 0.5 2.4 4.8 105.7 1.1 50.3 0.2 5.1 10.9 4.7 1.4 1.5 0.7 1.2 5.2 23.4 268.1 86.5 23.7 6.2 15.7 20.0 19.9 5.0 13.8 1.1 10.7 18.9 46.6 23303.6 1154.1 9950.5 872.2 1067.2 605.2 783.8 2879.2 331.7 379.2 427.6 1072.0 3780.9 2.1 2.9 2.0 2.1 2.3 2.7 2.3 2.1 2.6 1.8 2.4 2.3 2.0 MATURITY MONTHS 3/ SEE TECHNICAL 2/ INCLUDES 3/ SEE ONLY TECHNICAL DETAILS ATLANTA FRANDALLAS LATER * 1/ * PHILA- ROSTON AVERAGE IN 26 PREVIOUS SAN NEW TRICTS SEP TOTAL RESERVE SINCE BANKS ALL DIS- 1973 OF IN DEPOSIT REPORTING FEDERAL AS OF MAY NOT APPENDIX A. CERTIFICATES APPENDIX ADD TO ISSUED IN DENOMINATIONS B. TOTALS DUE TO ROUNDING. OF $100»000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 SEP 1973 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN 1973 SEP 27-SEP 30 ALL DISTRICTS POSTON 4.1 2.6 NEW YORK 4. T PHILADELPHIA CLEVELAND 2.5 3.0 RICHMONO ATLANTA 6.3 CHICAGO ST. LOUIS MINNEr APOLIS KANSAS CITY DALLAS "*SAN FRANCISCO 4.6 3.4 2.1 4.0 4.1 6.8 3.6 33.6 40.8 34.7 43.8 28.9 29.6 33.7 OCT 36.9 38.4 39.5 38.0 30.8 33.4 NOV 18.6 15.6 19.1 18.2 17.0 18.5 16.9 22.3 21.2 24.6 16.2 14.5 17.3 DEC 16.8 12.7 18.6 17.4 12.0 15.5 14.5 18.5 14.1 16.7 15.8 15.6 16.0 1974 JAN 8.3 5.7 7.4 10.9 7.2 7.8 9.4 7.? 9.8 7.2 11.7 10.0 10.4 FEB 2.8 1.3 1.8 5.0 3.6 3.6 4.3 1.7 3.8 0.8 5.4 4.6 4.4 MAR 3.4 3.1 2.8 2.1 4.3 5.0 4.0 1.7 4.0 0.5 4.4 3.7 5.5 APR 1.7 3.3 0.8 0.7 3.2 2.5 3.2 0.9 2.1 0.5 2.5 3.4 2.5 MAY 1.1 2.5 0.7 0.8 2.1 2.0 1.6 0.4 1.1 0.3 2.6 1.6 1.4 UUN 1.5 4.7 1.6 0.4 1.3 0.9 1.3 0.4 0.6 0.4 2.0 1.8 1.7 JUL 1.0 1.3 1.0 0.2 1.5 0.8 2.0 0.5 1.0 0.3 1.7 2.6 0.6 AUG 1.1 2.5 1.1 0.5 1.5 0.7 1.1 0.6 1.2 0.4 1.0 0.8 1.6 SEP 0.5 3.1 0.2 0.2 0.3 1.2 0.6 0.? 0.3 0.1 1.1 0.6 0.5 OCT OR LATER 2.1 3.1 0.8 3.1 12.3 1.8 2.8 1.3 3.8 0.4 2.5 4.3 0.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * V 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 SEP 1973 (CUMULATIVE PERCENTAGE) CD'S MATURING IN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 3.4 2.1 4.0 4.1 6.8 3.6 38.2 44.2 36.8 47.8 33.0 36.4 37.3 58.2 55.1 66.5 58.0 72.4 49.2 50.9 54.6 62.8 73.7 69.6 85.0 72.1 89.1 65.0 66.5 70.6 87.0 70.0 81.5 79.0 92.2 81.9 96.3 76.7 76.5 81.0 91.1 92.0 73.6 85.1 83.3 93.9 85.7 97.1 82.1 81.1 85.4 79.4 93.9 94.1 77.9 90.1 87.3 95.6 89.7 97.6 86.5 84.8 90.9 9P.6 82.7 94.7 94.8 81.1 92.6 90.5 96.5 91.8 98.1 89.0 88.2 93.4 MAY 93.7 85.2 95.4 95.6 83.2 94.6 92.1 96.9 92.9 98.4 91.6 89.8 94.8 UUN 95.2 89.9 97.0 96.0 84.5 95.5 93.4 97.? 93.5 98.8 93.6 91.6 96.5 JUL 96.2 91.2 98.0 96.2 86.0 96.3 95.4 97.8 94.5 99.1 9B. 3 94.2 97.1 AUG 97.3 93.7 99.1 96.7 87.5 97.0 96.5 98.4 95.7 99.5 96.3 95.0 98.7 SEP 97.8 96.8 99.3 96.9 87.8 98.2 97.1 98.6 96.0 99.6 97.4 95.6 99.2 lao.o 100.0 100.0 100.0 100.0 100.U 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ALL DISTRICTS BOSTON 4.1 2.6 OCT 41.0 NOV PHILADELPHIA CLEVELAND 4.7 2.5 3.0 6.3 4.6 41.0 44.2 40.5 33.8 39.7 59.6 56.6 63.3 58.7 50.8 DEC 76.4 69.3 81.9 76.1 1974 JAN 84.7 75.0 89.3 FEB 87.5 76»3 MAR 90.9 APR 1973 SEP 27-SEP 30 OCT OR LATER NEW YORK RICHMOND ATLANTA CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 26 SEP 1973 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN SAN ALL DISTRICTS 1973 1974 MOND LAND ATLANTA CHICAGO ST. MINNE- KANSAS LOUIS APOLIS CITY FRANDALLAS CISCO 42.2 26.9 32.5 36.4 37.0 40.5 47.2 14.5 14.5 17.5 16.7 24.8 13.0 15.4 15.2 20.4 28.3 21.1 40.7 23.3 25.2 24.3 21.7 21.9 14.5 12.9 7.3 7.3 10.0 12.8 12.2 11.3 9.6 5.2 2.1 8.9 2.1 3.4 2.4 1.2 2.2 0.5 3.5 2.4 1.4 2.6 3.6 0.7 5.0 9.5 7.6 2.9 7.4 0.2 8.0 5.4 4.6 0.5 0.2 0.2 0.3 1.6 0.2 0.8 0.3 0.1 0.0 0.0 1.7 0.9 MAY 0.3 0.8 0.0 0.2 1.2 0.6 0.2 0.1 0.1 0.2 0.0 0.2 0.6 JUN 0.6 6.2 0.1 0.3 0.4 0.0 0.2 0.2 0.2 0.1 0.0 0.6 0.8 JUL 0.1 0.2 0.0 0.0 0.1 0.1 0.5 0.0 0.2 0.0 0.1 0.2 0.1 AUG 0.5 0.1 0.5 0.0 0.5 1.8 0.6 0.0 0.5 0.2 0.3 0.5 0.6 1.2 7.5 0.2 0.7 1.5 3.3 2.5 0.2 4.2 0.3 2.5 1.8 1.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 OR BY 39.5 36.4 37.1 31.0 NOV 15.5 12.4 15.1 16.0 17.2 DEC 26.8 19.7 27.8 22.0 JAN 9.6 6.4 10.9 FEB 2.1 1.2 MAR 4.0 APR OR LATER * 2/ INCLUDES * DELPHIA RICH- 42.7 SEE - YORK CLEVE- 38.9 1/ NOTE PHILA- OCT SEP TOTAL nOSTON NEW TECHNICAL ONLY SALES DETAILS APPENDIX IN MAY A. CERTIFICATES THIS NOT ADD TABLE TO V ISSUED ARE TOTALS NOT DUE IN DENOMINATIONS ADJUSTED TO FOR ROUNDING. CD'S OF THAT $100,000 HAVE MORE MATURED. WEEKLY REPORTING BANKS. 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 sales will differ from the change in total outstandings between survey dates by (1) the amount of CD's that have matured between surveys and (2) the amount, if any, of sales between survey dates that mature in the remaining days of the calendar month in which the current survey is taken. TECHNICAL NOTE B CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted .average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey month—after the survey d a t e — a r e assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD s maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months. SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, they are weighted averages calculated from the survey date with the assumption made that all CD'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 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 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