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L.4.1 CONFIDENTIAL (FR) October 28, 1968 ^ 5 S N nov i c « r ^68 SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF September 25, 1968 NOTE: Sales since the previous survey and comparisons with previous data reflect revisions in the August report whereby $17.3 million in outstanding negotiable CD's have been eliminated from the series. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. # # # * # • # e e F * ~ TABLE 1 1/ MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS AS OF 2 5 SEP 1 9 6 8 AMOUNT (MILLIONS OF DOLLARS! C D ' S MATURING I N PERCENTAGE DISTRIBUTION CUMULATIVE PERCENTAGE SALES SINCE PREVIOUS MONTH 2 / ( M I L L I O N S OF DOLLARS) .0 946. B 4.3 4.3 OCTOBER 4,441.4 20.0 24.3 NOVEMBER 3,190.8 14.3 38.6 551.6 DECEMBER 4,23T.9 19.0 57.6 1,158.0 3,228.5 14.5 72.1 292.2 FEBRUARY 1,393.8 6.3 78.4 139.7 MARCH 1,357.7 6.1 84.5 558.8 APRIL 730.0 3.3 87.8 73.7 MAY 455.6 2.0 89.8 34. 1 JUNE 652.6 2.9 92.7 53.3 JULY 489.7 2.2 94.9 23.4 AUGUST 314.5 1.4 96.3 44.7 SEPTEMBER 273.1 1.2 97.5 222.7 OVER 12 MONTHS 545.9 2.5 100.0 XXX 22,258.3 100.0 XXX 4,076.3 1968 SEPTEMBER 26 - BO 1 9 6 9 JANUARY TOTAL (MEMORANDUM: DECEMBER 10 DECEMBER 16 229.2 760.1 „ 924.2 TAX AND DIVIDEND MATURITIES) 1.0 3.4 XXX XXX 1/ INCLUDES ONLY CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A . 3/ SALES OF C D ' S MATURING AFTER 1 1 MONTHS. 3/ TABLE 2A 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 25 SEP 1968 ( I N 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 SAIFS SINCE PREVIOUS MONTH 2 / 314.6 .0 62.0 .0 570. 2 .0 1,118.3 230.0 309.9 35.6 3,013. 2 658.2 NOVEMBER 924.1 218.0 173.6 24.3 2,093.1 309,2 DECEMBER 1,603.8 367.4 354.9 115.7 2,279.2 673,6 921.9 93.8 348.4 17.9 1,958.2 180.9 FEBRUARY 286.8 17.6 122.0 14.5 985.0 107.6 MARCH 419.1 104.2 99.5 36.9 839.1 417.1 APRIL 251.9 18.9 39.6 5.0 438.5 49.7 MAY 120.0 5.6 52.1 1.3 283.5 27.2 JUNE 189.3 15.0 68.8 5.7 394.5 32.6 JULY 89,3 1.0 34.3 5.6 366.1 17.2 AUGUST 62.3 1.2 20.6 5.8 231.6 37.7 SEPTEMBER 57.3 OVER 12 MONTHS 91.1 XXX 21.2 6,449.8 1,097.6 1,744.7 1968 SEP 26 - SEP 30 OCTOBER 1969 JANUARY TOTAL * 24.9 /3 I MEMORANDUM: DECEMBER 10 DECEMBER 16 85.8 468,9 157.2 /3 XXX 433.6 XXX 310.0 14,063.8 2,668.2 11 12 NUMBER OF REPORTING BANKS 178.0 41.7 / 3 37.8 TAX AND DIVIDEND MATURITIES! 6.5 41.0 1/ INCLUDES ONLY CERTIFICATES I N DENOMINATION OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHMCAL APPENDIX A . 3/ SALES OF C D ' S MATURING AFTER 11 MONTHS. TOTALS M#Y NOT ADD DUE TO ROUNDING. Digitized for*FRASER 240 137.6 250.9 # 4 TABLE 2B 1/ MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS AS OF 2 5 SEP 1 9 6 8 AND 2 8 AUG 1 9 6 8 IPERCENTAGE D I S T R I B U T I O N ! NEW YORK C I T Y C D ' S MATURING I N 2 5 SEP 28 CHICAGO AUG 25 SEP ALL OTHER 2 8 AUG 2 5 SEP 2 8 AUG 4.9 1.1 3.6 .9 4.1 2.4 0 1 MONTHS 3 / 17.3 21.8 17.8 19.7 21.4 20.4 0 2 MONTHS 14.3 13.6 10.0 15.9 14.9 16.8 0 3 MONTHS 24.9 10.8 20.3 8.6 16.2 12.7 0 4 MONTHS 14.3 18.9 20.0 13.8 13.9 11.4 0 5 MONTHS 4.4 12.7 7.0 19.1 7.0 12.7 0 6 MONTHS 6.5 4.1 5.7 6.2 6.0 6.3 0 7 MONTHS 3.9 4.8 2.3 3.6 3.1 3.0 0 8 MONTHS 1.9 3.6 3.0 2.0 2.0 2.8 0 9 MONTHS 2.9 1.8 3.9 2.9 2.8 1.8 10 MONTHS 1.4 2.7 2.0 3.6 2.6 2.6 1 1 MONTHS 1.0 1.4 1.2 1.7 1.7 2.5 12 MONTHS .9 .9 2.2 .9 1.3 1.4 1.4 I.? 1.2 1.0 3.1 3.2 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2 / OVER 12 MONTHS TOTAL * 1/ INCLUDES ONLY C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 BANKS. 2/ NUMBER OF DAYS REMAINING I N SURVEY MONTH. T H I S PERIOD V A R I E S WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE MONTH. 3/ NUMBER OF MONTHS FOLLOWING THE SURVEY MONTH. * TOTALS MAY NOT ADD DUE TO ROUNDING. OR MORE ISSUED BY WEEKLY REPORTING TABLE 2C 1/ MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C I T Y , CHICAGO, AND ALL OTHER WE8CLY REPORTING BANKS AS OF 2 5 SEP 1968 AND 28 AUG 1968 (CUMULATIVE DISTRIBUTION) C D ' S MATURING I N 1 CHICAGO » ' i 25 SEP 28 AUG ALL OTHER i • 25 SEP 28 AUG 2 5 SEP 2 8 AUG 4,9 1.1 3.6 .9 4.1 2.4 0 1 MONTHS 3 / 22.2 22.9 21.4 20.6 25.5 22.8 02 MONTHS 36.5 36.5 31.4 36.5 40.4 39.6 03 MONTHS 61.4 47.3 51.7 45.1 56.6 52.3 04 MONTHS 75.7 66.2 71.7 58.9 70.5 63.7 05 MONTHS 80.1 78.9 78.7 78.0 77.5 76.4 0 6 MONTHS 86.6 83.0 84.4 84.2 83.5 82.7 07 MONTHS 90.5 87.8 86.7 87.8 86.6 85.7 08 MONTHS 92.4 91.4 89.7 89.8 88.6 88.5 0 9 MONTHS 95.3 93.2 93.6 92.7 91.4 90.3 10 MONTHS 96.7 95.9 95.6 96.3 94.0 92.9 1 1 MONTHS 97.7 97.3 96.8 98.0 95.7 95.4 12 MONTHS 98.6 98.2 99.0 98.9 97.0 96.8 100.0 100.0 100.0 100.0 100.0 100.0 0 - 6 DAYS 2 / OVER 12 MONTHS 1/ NEW YORK C I T Y INCLUDES ONLY CERTIFICATES I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2 / NUMBER OF DAYS REMAINING I N 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 D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 2 / AS OF 2 5 SEP 1968 <AMOUNTS I N MILLIONS OF DOLLARS) S I B I L L I O N AND OVER C D ' S MATURING I N 1968 TOTAL $200 MILLION AND UNDER $200 M I L L I O N TO $500 M I L L I O N $500 MILLION TO $1 BILLION - PRIME 3 / TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 946.8 64.6 102.6 201.9 577.7 271.9 139.4 166.4 OCTOBER 4,441.5 291.6 577.0 883.6 2.689.3 1,036.2 998.3 654.8 NOVEMBER 3,190.8 158.8 422.6 610.0 1.999.4 836.3 663.8 499.3 DECEMBER 4,237.8 173.9 503.8 652.8 2,907.3 1,520.9 835.8 550.6 3,228.4 138.2 370.2 566.4 2,153.6 858.4 847.6 447.6 FEBRUARY 1,393.8 66.7 204.4 295.0 827.7 257.9 383.7 186.1 MARCH 1,357.7 66.7 143.5 252.8 894.7 402.2 304.4 188.1 APRIL 730.0 28.7 72.8 111.7 516.8 234.7 158.0 124.1 MAY 455.6 17.7 45.2 80.9 311.8 114.3 143.9 53.6 JUNE 652.6 16.8 50.5 127.1 458.2 179.6 197.2 81.4 JULY 489.7 18.4 60.8 129.5 281.0 83.0 118.4 79.6 AUGUST 314.4 9.5 80.6 46.1 178.2 57.4 71.4 49.4 SEPTEMBER 273.0 7.5 29.1 53.1 183.3 52.5 92.5 38.3 OCTOBER OR LATER 545.8 5.6 37.7 89.1 413.4 87.5 245.1 80.8 22,257.9 1,064.7 2,700.8 4,100.0 14, 3 9 2 . 4 5,992.8 5,199.5 3,200.1 SEP 26-30 1969 JANUARY TOTAL * (MEMORANDUM: TAX AND DIVIDEND MATURITIES) DECEMBER 10 229.2 12.2 22.2 50.8 144.0 81.5 25.5 37.0 DECEMBER 16 760.0 12.5 39.3 64.7 643.5 459.5 128.0 56.0 12 18 (MEMORANDUM: 263 91 NUMBER OF BANKS) 84 51 37 1 / INCLUDES CERTIFICATES IN DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2 / TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 1 9 6 5 . 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. T A B L E 3B SALES t i t OF NEGOTIA B LE T I M E C E R T I F I C A T E S OF DEPOSIT S I N C E PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 3 / AS OF 2 5 SEP 1 9 6 8 (AMOUNTS I N M I L L I O N S OF DOLLARS! $ 1 II I L L ION AND OVER CD'S MATURING I N 1 9 6 8 SEP TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION - PRIME 4 / TOTAL OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 26-30 OCTOBER 924.4 84.7 124.8 206.3 508.6 200.6 157.8 150.2 NOVEMBER 551.6 30.7 60.5 100.5 359.9 207.8 69.5 82.6 DECEMBER 1,157.9 58.3 152.2 213.9 733.5 352.6 221.0 159.9 292.2 13.3 39.9 58.1 180.9 88.9 55.0 37.0 FEBRUARY 139.7 7.3 21.8 43.2 67.4 14.2 28.2 25.0 MARCH 558.9 44.1 94.1 139.6 281.1 97.2 117.9 66.0 APRIL 73.7 2.2 9.8 11.7 50.0 17.7 13.3 19.0 MAY 34.1 2.6 3.2 8.4 19.9 5.6 9.2 5.1 JUNE 53.4 2.7 11.1 9.0 30.6 14.9 8.0 7.7 JULY 23.5 0.9 6.8 1.3 14.5 1.0 6.7 6.8 AUGUST 44.7 1.3 16.2 6.2 21.0 1.1 8.9 11.0 222.6 7.6 27.6 51.7 135.7 21.3 78.3 36.1 4,076.7 255.7 568.0 849.9 2,403.1 1,022.9 773.8 606.4 1 9 6 9 JANUARY SEPTEMBER OR LATER TOTAL * <MEMORANDUM: DECEMBER 10 DECEMBER 16 51.0- TAX 1.2 230.3 12.0- —————————————————————————— 263 7.5 15.8 2.4- 34.1- (MEMORANDUM! 91 AND D I V I D E N D M A T U R I T I E S ) 75.5278.8 46.3- 34.7- 253.4 39.9 5.5 14.5- NUMBER OF BANKS I — — — — — — — — — — — — — — — — — — — — — — — — — — — — — 84 51 37 7 12 18 1/ 2/ 3/ 4/ SEE TECHNICAL APPENDIX A . INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE I S S U E D BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED I N THE C A L L 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 NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE H I G H E S T Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. Digitized*for FRASER TOTALS MAY NOT ADD DUE TO ROUNDING. http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis # # # e * • # o TABLE • * M A T U R I T Y D I S T R I B U T I O N OF OUTSTANDING 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 REPORTING BANKS BY S I Z E OF BANKS 2 / AS OF 2 5 SEP 1 9 6 8 PERCENTAGE D I S T R I B U T I O N 3C 1968 MATURING IN TOTAL $200 MILLION AND UNDER $500 MILLION TO MILLION $500 MILLION TO $1 BILLION PRIME TOTAL NEW YORK CITY 3/ OUTSIDE NEW YORK CITY NON-PRIME 4.3 6.1 3.8 4.9 4.0 4.5 2.7 5.2 OCTOBER 20.0 27.4 21.4 21.6 18.7 17.3 19.2 20.5 NOVEMBER 14.3 14.9 15.6 14.9 13.9 14.0 12.8 15.6 DECEMBER 19.0 16.3 18.7 15.9 20.2 25.4 16.1 17.2 14.5 13.0 13.7 13.8 15.0 14.3 16.3 14.0 FEBRUARY 6.3 6.3 7.6 7.2 5.8 4.3 7.4 5.8 MARCH 6.1 6.3 5.3 6.2 6.2 6.7 5.9 5.9 APRIL 3.3 2.7 2.7 2.7 3.6 3.9 3.0 3.9 MAY 2.0 1.7 1.7 2.0 2.2 1.9 2.8 1.7 JUNE 2.9 1.6 1.9 3.1 3.2 3.0 3.8 2.5 JULY 2.2 1.7 2.3 3.2 2.0 1.4 2.3 2.5 AUGUST 1.4 0.9 3.0 1.1 1.2 1.0 1.4 1.5 SEPTEMBER 1.2 0.7 1.1 1.3 1.3 0.9 1.8 1.2 OCTOBER OR L A T E R 2.5 0.5 1.4 2.2 2.9 1.5 4.7 2.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 SEP 26-30 1 9 6 9 JANUARY TOTAL * — F AW KIN11M* | nUCLINO c nUKA Un* A V MP1U A N N LI n i Iv ¥ / Tt nuFc M A T1I I vrx R F 11 T T*PC 1T MA n nu M nM COI I DECEMBER 10 1.0 1.1 0.8 1.2 1.0 1.4 0.5 1.2 DECEMBER 16 3.4 1.2 1.5 1.6 4.5 7.7 2.5 1.7 X I 2/ 3/ * $200 1/ $ 1 B I L L I O N AND OVER - CD'S * INCLUDES 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 REPORTING B A N K S . TOTAL D E P O S I T S AS REPORTED I N THE C A L L 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 Q U A L I T Y REPORTED BY DEALERS 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 . AND WHICH ARE T A B L E 3D MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE 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 REPORTING BANKS BY S I Z E OF BANKS 2 / AS OF 2 5 S E P 1 9 6 6 CUMULATIVE PERCENTAGE $ 1 B I L L I O N ANDi OVER - CD'S MATURING I N TOTAL $200 MILLION AND UNDER $200 $500 MILLION TO MILLION $500 MILLION TO $1 BILLION - PR I ME 3 / TOTAL - 1968 SEP 26—30 3/ NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 4.3 6.1 3.8 4.9 4.0 4.5 2.7 5.2 OCTOBER 24.3 33.5 25.2 26.5 22.7 21.8 21.9 25.7 NOVEMBER 38.6 48.4 40.8 41.4 36.6 35.8 34.7 41.3 DECEMBER 57.6 64.7 59.5 57.3 56.8 61.2 50.8 58.5 72.1 77.7 73.2 71.1 71.8 75.5 67. 1 72.5 FEBRUARY 78.4 84.0 80.8 78.3 77.6 79.8 74.5 78.3 MARCH 84.5 90.3 86.1 84.5 83.8 86.5 80.4 84.2 APRIL 87.8 93.0 88 . 8 87.2 87.4 90.4 83.4 88.1 MAY 89.8 94.7 90.5 89.2 89.6 92.3 86.2 89.8 JUNE 92.7 96.3 92.4 92.3 92.8 95.3 90.0 92.3 JULY 94.9 98.0 94.7 95.5 94.8 96.7 92.3 94.8 AUGUST 96.3 98.9 97.7 96.6 96.0 97.7 93.7 96.3 SEPTEMBER 97.5 99.6 98.8. 97.9 97.3 98.6 95.5 97.5 OCTOBER OR LATER 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 9 6 9 JANUARY 1/ 2/ 1/ 100.0 INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . TOTAL DEPOSITS AS REPORTED I N THE C A L L REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1 9 6 5 . KTETBY5 ::L:rio^^:rro^:i:::i:i:s%ruL^H::^?:?N^H:"::o3:A^"M^:Tr oual,tv and hhich ARE e # T A B L E 3E # SALES / ! / OF NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT SINCE PREVIOUS MONTH 2 / AT WEEKLY REPORTING BANKS BY S I Z E OF BANKS 3 / AS OF 2 5 SEP 1 9 6 8 PERCENTAGE D I S T R I B U T I O N SI CD'S MATURING I N 1 9 6 8 SEP TOTAL $200 MILLION AND UNDER $200 M I L L I O N TO $500 M I L L I O N TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME OCTOBER 22.7 33.1 22.0 24.3 21.2 19.6 20.4 24.8 NOVEMBER 13.5 12.0 10.7 11.8 15.0 20.3 9.0 13.6 DECEMBER 28.4 22.8 26.8 25.2 30.5 34.5 28.6 26.4 7.2 5.2 7.0 6.8 7.5 8.7 7.1 6.1 3.4 2.9 3.8 5.1 2.8 1.4 3.6 4.1 13.7 17.2 16.6 16.4 11.7 9.5 15.2 10.9 FEBRUARY MARCH APRIL 1.8 0.9 1.7 1.4 2.1 1.7 1.7 3.1 MAY 0.8 1.0 0.6 1.0 0.8 0.5 1.2 0.8 JUNE 1.3 1.1 2.0 1.1 1.3 1.5 1.0 1.3 JULY 0.6 0.4 1.2 0.2 0.6 0.9 1.1 AUGUST 1.1 0.5 2.9 0.7 0.9 0.1 0.1 1.2 1.8 SEPTEMBER OR LATER 5.5 3.0 4.9 6.1 5.6 2.1 10.1 6.0 100.0 100.0 100.0 100.0 100.0 100.0 100. 0 TOTAL * 100.0 (MEMORANDUM: TAX AND D I V I D E N D M A T U R I T I E S ) DECEMBER 10 1.3- 0.5 1.3 1.9 DECEMBER 5.6 4.7- 0.4- 4.0- 16 (MEMORANDUM: 263 1/ 2/ 3/ 4/ PRIME 4 / 26-30 1 9 6 9 JANUARY * $500 MILLION TO $1 BILLION B I L L I O N AND OVER 91 3.111.6 4.524.8 4.5- 0.9 5.2 2.4- NUMBER OF BANKS) 84 51 37 12 SEE TECHNICAL APPENDIX A . INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF $ 1 0 0 # 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 1 9 6 5 . PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. TOTALS MAY NOT ADD DUE TO ROUNDING. 18 T A B L E 4A AVERAGE MATURITY OF OUTSTANDING N E G O T I A B L E T I M € C E R T I F I C A T E S OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES ( I N MONTHS) DATE OF SURVEY BANK C L A S S I F I C A T I O N 2 5 SEP 1 9 6 8 2 8 -AUG 1 9 6 8 3 1 JUL 1968 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 3.5 3.7 3.8 NEW YORK C I T Y 3.3 3.6 3.8 CHICAGO 3.7 3.7 4.0 OTHER 3.6 3.7 3.8 (BY UNDER $200 MILLION $200*$500 MILLION $500-$1,000 OVER MILLION $1 B I L L I O N PRIME IN NEW YORK C I T Y 3 / PRIME OUTSIDE NEW YORK C I T Y 3/ NON-PRIME I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 S I Z E OF BANK) 2/ 2.8 2.9 3.0 3.4 3.4 3.4 3.5 3.6 3.7 3.6 3.8 4.0 3.3 3.6 3.8 4.0 4.1 4.3 3.4 3.6 3.7 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. DEPOSITS AS REPORTED http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis • « i I N THE C A L L » OR MORE ISSUED BY WEEKLY REPORTING BANKS, REPORT OF C O N D I T I O N ON DECEMBER 3 1 , » # 1965. e # " e # i • # e T A B L E 4B AVERAGE MATURITY OF NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS UN MONTHS ) DATE OF SURVEY BANK C L A S S I F I C A T I O N 25 SEP 1 9 6 8 28-AUG 1968 3 1 JUL 1968 (BY L O C A T I O N ) A L L REPORTING BANKS ISSUING CD'S 3.4 3.6 4.4 NEW YORK C I T Y 2.8 3.2 4.5 CHICAGO 4.5 4.1 4.9 OTHER 3.6 3.7 4.3 (BY UNDER $200 MILLION $200-$500 MILLION $500-$1,000 OVER MILLION $1 B I L L I O N S I Z E OF BANK I 2/ 3.0 2.9 3.3 3.7 3.9 4.0 3.5 3.5 4.2 3.4 3.7 4.6 PRIME I N NEW YORK C I T Y 3 / 2.9 3.2 4.6 PRIME OUTSIDE NEW YORK C I T Y 3 / 4.0 4.2 4.9 3.5 3.6 4.3 NOW-PRIME 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. DEPOSITS AS REPORTED I N N O T E — S E E TECHNICAL A P P E N D I X B . OR MORE ISSUED BY WEEKLY REPORTING BANKS. THE CALL REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 1965. T A B L E 5A R A T I O OF OUTSTANDING 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 DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT I DATE OF SURVEY (IN TOTAL D E P O S I T S 2 / M I L L I O N S OF DOLLARS) 25 SEP 1 9 6 8 A L L BANKS I S S U I N G CD'S 2 8 AUG 1 9 6 8 3 1 JUL 1968 10,3 10,6 10.1 UNDER 2 0 0 7.1 7.2 7.0 200 - 500 8.8 8.8 8.5 500- 1000 10.2 10.4 9.9 11.1 11.5 10.9 12.1 12.8 12.2 9.7 9.9 9.3 12.1 12.4 11.7 OVER 1 0 0 0 PRIME I N NEW YORK 3 / PRIME OUTSIDE NEW YORK 3 / NONPRIME 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N I OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 D E P O S I T S AS REPORTED I N THE C A L L OR MORE ISSUED BY WEEKLY REPORTING BANKS. REPORT OF C ON D ITION ON DECEMBER 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 . IN THIS TABLE ARE TOTAL 31, 1965. DEMAND AND T I M E D E P O S I T S , INCLUDING T A B L E 5B R A T I O OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF D E P O S I T TO TOTAL 1/ DEPOSITS AS OF 2 5 SEP 1 9 6 8 (NUMBER OF BANKS 1 TOTAL D E P O S I T S 2 / < I N M I L L I O N S OF DOLLARS! ALL BANKS I S S U I N G CD'S 5% OR LESS 5 TO 10% 10 TO 15% 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CD TO D E P O S I T R A T I O (PER CENT) 57 22 19 1 10.3 UNDER 2 0 0 44 27 10 5 5 0 7.1 200 - 500 33 18 20 6 6 I 500 - 1000 13 13 15 5 5 0 10.2 3 13 12 6 3 0 11.1 0 2 4 1 0 0 12.1 PRIME OUTSIDE NEW YORK 3 / I 7 0 3 1 0 9.7 NONPRIME 2 4 8 2 2 0 12.1 OVER 1000 PRIME I N NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST Q U A L I T Y AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS' POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 DEPOSITS AS REPORTED OR MORE 00 71 00 93 ISSUED BY WEEKLY REPORTING BANKS. I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER D E P O S I T S I N THE DENOMINATOR OF THE R A T I O I N T H I S INTERBANK AND U . S . GOVERNMENT D E P O S I T S . T A B L E ARE TOTAL 31, 1965. DEMAND AND T I M E D E P O S I T S , INCLUDING T A B L E 5C PER CENT CHANGE I N OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E OF DEPOSIT / I 28 AUG 1 9 6 8 TO 2 5 SEP 1 9 6 8 (NUMBER OF BANKS I DECLINES OF TOTAL DEPOSITS 2 / ( I N M I L L I O N S OF DOLLARS) ALL BANKS I S S U I N G CD'S C D ' S TO ZERO 1 0 * OR MORE 5 TO lot 5 * OR LESS NO CHANGE INCREASES OF — 5 * OR 5 TO 1 0 * OR LESS 10* MORE ISSUED CO 1 S BUT HAD NONE OUTSTANOING ON BASE DATE 0 23 37 58 30 58 23 34 0 UNDER 2 0 0 0 7 13 12 19 18 8 14 0 200 - 500 0 7 15 18 8 16 6 14 0 500 - 1000 0 6 4 ,13 2 14 6 6 0 0 3 5 15 I 10 3 0 0 0 0 2 3 0 I 1 0 0 PRIME OUTSIDE NEW YORK 3 / 0 2 1 5 0 3 1 0 0 NONPRIME 0 1 2 7 1 6 1 0 0 OVER 1 0 0 0 PRIME IN NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1965. THE NUMBER OF BANKS I N T H I S TABLE DIFFERS FROM THOSE I N MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING C D ' S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON T H I S SURVEY. TABLE 5 0 PER CENT CHANGE I N OUTSTANDING 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 OF D E P O S I T 26 JUN 1 9 6 8 TO 2 5 SEP /I 1968 (NUMBER OF BANKS) TOTAL (IN ALL DEPOSITS / 2 M I L L I O N S OF DOLLARS) BANKS CD'S REDUCED C D ' S 25% TO OR ZERO MORE DECLINES OF 20 TO 25% 15 TO 20% 10 TO 15% INCREASE OF 5 TO 10% 5% OR LESS 14 10 15 NO CHANGE 10 5% OR LESS 5 TO 10% 26 25 21 23 28 67 TO 15% 20 15 TO 20% 25% OR MORE TO 25% ISSUED C D ' S BUT HAD NONE OUTSTANDING ON BASE DATE ISSUING 11 UNDER 2 0 0 1 6 2 I 6 4 6 4 6 4 8 7 10 25 2 200 - 500 1 5 3 4 3 3 6 4 11 9 3 7 5 21 0 500 - 1000 0 0 0 1 5 1 2 I 6 7 0 5 9 13 1 0 0 0 0 0 2 I 0 3 5 10 4 4 8 0 0 0 0 0 0 1 0 0 0 4 1 0 0 1 0 P R I M E O U T S I D E NEW YORK 3 / 0 0 0 0 0 0 1 0 2 0 2 0 3 4 0 NONPRIME 0 0 0 0 0 1 0 0 1 1 7 4 1 3 0 OVER 1000 PRIME I N NEW YORK 3 / INCLUDES C E R T I F I C A T E S 2/ TOTAL 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 B A S I S POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1/ DEPOSITS AS REPORTED I N THE CALL REPORT OF C O N D I T I O N ON DECEMBER 31, 1965. THE NUMBER OF BANKS I N T H I S TABLE DIFFERS FROM THOSE I N MOST OTHER TABLES TO THE EXTENT THAT BANKS THAT HAD OUTSTANDING C D ' S ON THE SURVEY THREE MONTHS PRIOR TO THE CURRENT SURVEY, REDUCED THEIR OUTSTANDINGS TO ZERO. T A B L E 5E CHANGE I N OUTSTANDING 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 OVER THE MONTH AS A PER CENT OF TOTAL 1/ DEPOSITS AT THE B E G I N N I N G OF THE PERIOD 28 AUG 1 9 6 8 TO 2 5 SEP 1968 (NUMBER OF BANKS 1 TOTAL D E P O S I T S 2 / (IN ALL DECLINES OF M I L L I O N S OF DOLLARS) BANKS CD'S 3% AND OVER 2 TO 3% 1 TO 2X INCREASES OF IX ANO LESS NO CHANGE IX AND LESS 1 TO 2X 2 TO 3X 3X AND OVER ISSUING 2 2 17 98 30 93 13 UNDER 2 0 0 2 1 5 24 19 33 4 3 0 200 - 500 0 1 4 36 ' 8 27 4 2 2 500 - 1000 0 0 3 20 2 21 4 1 0 0 0 5 18 1 12 1 0 0 0 0 2 3 0 2 0 0 0 PRIME O U T S I D E NEW YORK 3 / 0 0 2 6 0 3 1 0 0 NONPRIME 0 0 1 9 1 7 0 0 0 OVER 1000 PRIME IN NEW YORK 3 / 1/ INCLUDES C E R T I F I C A T E S 2/ TOTAL DEPOSITS AS REPORTED I N THE C A L L REPORT OF C O N D I T I O N ON DECEMBER 3 1 , 3/ PRIME BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 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 . IN THIS OR MORE ISSUED BY WEEKLY REPORTING BANKS. T A B L E ARE TOTAL 1965. DEMAND AND T I M E D E P O S I T S , INCLUDING TABLE SF CHANGE I N OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT 1 / OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 2 6 JUN 1 9 6 8 TO 25 SEP 1 9 6 8 (NUMBER OF BANKS 1 TOTAL DEPOSITS 2 / «IN MILLIONS OF DOLLARS, DECLINES OF ~ T r " ~ r OVER ALL BANKS ISSUING 5* , 0 INCREASES OF 7 " 2q 1q JJj 4% 3t 2* LESS ^ 0 2 13 44 6 IT UNDER 83 UNDER 2 0 0 0 0 0 1 200 - 1 0 0 1 5 0 0 r- 1 0 0 0 0 0 0 0 1 8 1 OVER; 1 0 0 0 0 0 0 0 0 3 0 0 0 0 0 0 1 0 0 1 0 0 500 p i IME I N NEW YORK 3 / PRIME OUTSIDE NEW YORK 3 NONPRIME / 0 0 0 0 0 0 6 1 6 1 2% ^ 'TO m AND 3* 4% 5% OVER 32 12 11 4 30 14 10 4 3 0 4 27 11 8 3 2 5 7 8 2 3 5 11 11 6 3 3 0 4 1 1 0 0 0 4 2 2 1 0 3 8 3 2 1 5 If INCLUDES C E R T I F I C A T E S I N DENOMINATIONS OF $ 1 0 0 * 0 0 0 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL DEPOSITS AS REPORTED I N THE CALL REPORT OF CONDITION ON DECEMBER 3 1 , 3 / 2 I 1965. DEPOSITS I N THE DENOMINATOR OF THE R A T I O I N T H I S TABLE ARE TOTAL DEMAND AND TIME D E P O S I T S , INTERBANK AND U . S . GOVERNMENT D E P O S I T S . INCLUDING 0 0 pa IMP BANKS ARE THOSE WHOSE NEGOTIABLE C E R T I F I C A T E S OF DEPOSIT ARE REGARDED AS B E I N G OF THE HIGHEST QUALITY AND WHICH ARE REPORTED BY DEALERS TO TRADE W I T H I N 1 OR 2 BASIS POINTS OF EACH OTHER W I T H I N THE SECONDARY MARKET. NOTE- ^ 0 TABLE 6A MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE D I S T R I C T AS OF 2 5 SEP 1 9 6 8 (AMOUNTS I N M I L L I O N S OF DOLLARS) C D ' S MATURING IN ALL DISTRICTS BOSTON 947.0 57.4 OCT 4441.4 NOV ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 108.1 11.9 5.1 16.8 67.8 135.8 145.1 604.0 83.0 61.5 129.2 322.2 737.4 63.0 94.3 423.6 68.1 33.6 68.3 196.2 571.2 214.9 91.4 132.9 577.6 69.5 71.8 87.6 244.2 560.8 76.7 195.0 31.7 84.1 512.5 43.7 77.2 83.4 288.0 564.5 357.3 46.1 112.5 21.0 73.4 217.4 40.6 29.6 37.1 97.2 301.9 61.7 503.6 51.1 60.0 33.8 51.1 167.6 25.0 22.7 39.6 93.3 248.0 730.1 38.4 298.9 23.4 76.9 10.6 11.4 81.9 30.5 8.6 9. 7 33.6 106.2 MAY 455.8 23.5 146.1 14.6 28.3 4.2 14.5 86.2 12.5 5.1 4.9 21.2 94.7 J UN 652.6 50.7 234.4 32.0 67.8 5.0 28.4 96.7 10.7 6.5 11.1 29.7 79.6 JUL 489.8 15.5 129.3 23.3 74.7 3.0 32.9 57.9 6.7 5.6 13.1 50.8 77.0 AUG 314.6 12.5 85.8 10.0 64.1 1.4 9.0 41.1 1.8 3.6 16.7 15.7 52.9 SEP 273.1 7.2 70.1 10.7 30.9 11.9 8.7 59.1 . 4.9 1.0 4.3 16.2 48.1 OCT OR LATER 546.0 37.4 129.6 19.8 196.0 10.2 18.4 64.2 5.1 0.0 2.7 25.8 36.8 22258.9 1366.6 7949.1 672.6 1663.3 397.9 724.3 3097.9 414.0 331.9 524.5 1501.9 3614.9 AVERAGE MATURITY I N MONTHS 2 / 3.4 3.0 3.3 3.8 4.9 3.2 3.7 3.5 3.4 3.3 3.2 3.3 3.4 NUMBER OF REPORTING BANKS 263 18 49 10 19 15 21 36 11 5 21 25 33 NEW YORK PHILADELPHIA CLEVELAND 413.5 29.4 61.4 19.7 20.1 383.8 1473.7 127.9 282.6 91.0 3190.9 243.0 1135.6 95.8 198.2 DEC 4237.9 218.8 1856.6 111.8 1 9 6 9 JAN 3226.5 157.1 1114.6 FEB 1393.7 59.6 MAR 1357.5 APR 19 8 SEP 2 6 - S E P 30 TOTAL * RICHMOND ATLANTA CHICAGO 1/ INCLUDES ONLY C E R T I F I C A T E S ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B . * D E T A I L S MAY NOT ADD TO TOTALS DUE TO ROUNDING. TABLE 6 6 1/ 2/ SALES OF NEGOTIABLE T I M E C E R T I F I C A T E S OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BV FEDERAL RESERVE D I S T R I C T AS OF 2 5 SEP 1 9 6 8 IAMOUNTS CD'S MATURING I N ALL DISTRICTS BOSTON NEW YORK PHILADELPHIA I N MILLIONS CLEVELAND OF DOLLARS) RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS — — — — 1 9 6 8 OCT 924.2 70.9 344.8 26.9 54.8 18.9 39.8 92.7 23.1 4.7 19.1 80.0 148.5 NOV 551.5 41.4 260.7 23.9 26.3 10.4 10.2 62.2 11.6 1.8 8.5 25.9 68.6 DEC 1157,9 68.6 435.4 45.9 44.3 31.8 49.8 178.0 16.7 13.8 23.6 81.4 168.6 1 9 6 9 JAN 292.4 33.5 109.8 8.4 14.8 2.3 5.5 44.3 5.1 13.3 8.4 11.0 36.0 FEB 139.8 6.7 24.3 7.7 6.6 2.3 15.5 19.9 3.1 5.8 3.9 12.5 31.5 MAR 558.8 21.0 153.1 11.3 28.3 26.3 29.6 64.6 12.5 15.2 32.2 54*3 110.4 APR 73.7 3.7 22.4 2.9 8.1 0.8 2.4 12.0 1.5 0.4 1.1 1.4 17.0 MAY 34.2 2.3 9.0 1.4 6.5 0.5 2.0 2.9 0.0 1.2 0.4 0. 1 7.9 J UN 53.3 1.9 19.7 2.8 1.1 1.0 6.0 9.3 1.4 0.5 3.0 0.7 5.9 JUL 23.5 0.7 8.8 0.3 0.8 0.4 5.0 3.8 0.2 0.0 0.9 0.0 2.6 AUG 45.0 1.0 5.9 4.3 3.1 0.1 0.9 9.1 0.6 0.0 11.9 3.6 4.5 222.8 7.3 40.2 7.7 30.3 11.9 8.6 58.9 2.9 1.0 4.5 6.5 43.0 4077.1 259.0 1434.1 143.5 225.0 106.7 175.3 557.7 78.7 57.7 117.5 277.4 644.5 3.4 2.8 2.9 3.5 4.2 4.1 3.8 4.0 3.1 4.0 4.6 3.0 3.6 " SEP OR LATER TOTAL * AVERAGE MATURITY I N MONTHS 3 / 1/ SEE T E C H N I C A L APPENDIX A . 2/ INCLUDES ONLY C E R T I F I C A T E S 3/ SEE T E C H N I C A L APPENDIX B . * SAN FRANCISCO ISSUED I N DENOMINATIONS OF S 1 0 0 . 0 0 0 D E T A I L S MAY NOT ADD TO TOTALS DUE TO ROUNDING. OR MORE BY WEEKLY REPORTING B A N K S . TABLE 6C MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 25 SEP 1 9 6 8 (PERCENTAGE D I S T R I B U T I O N ! C D ' S MATURING I N ALL DISTRICTS BOSTON NEW YORK PHI L A OELPHIA CLEVELAND RICHMONO ATLANTA 5.2 4.4 3.7 5.0 2.8 ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 3.5 2.9 1.5 3.2 4.5 3.8 CHICAGO 4.3 4.2 OCT 20.0 28.1 18.5 19.0 17.0 22.9 20.0 19.5 20.0 18.5 24.6 21.5 20.4 NOV 14.3 17.8 14.3 14.2 11.9 15.8 13.0 13.7 16.4 10.1 13.0 13.1 15.8 DEC 19.0 16.0 23.4 16.6 12.9 23.0 18.3 18.6 16.8 21.6 16.7 16.3 15.5 1 9 6 9 JAN 14.5 11.5 14.0 11.4 11.7 8.0 11.6 16.5 10.6 23.3 15.9 19.2 15.6 FEB 6# 3 4.4 4.5 6.9 6.8 &.3 10.1 7.0 9.8 8.9 7.1 6.5 8.4 MAR 6.1 4.5 6.3 7.6 3.6 8.5 7.1 5.4 6.0 6.8 7.6 6.2 6.9 APR 3.3 2.8 3.8 3.5 4.6 2.7 1.6 2.6 7.4 2.6 1.8 2.2 2.9 MAY 2.0 1*7 1.8 2.2 1.7 1.1 2.0 2.8 3.0 1.5 0.9 1.4 2.6 J UN 2.9 3.7 2.9 4.8 4.1 1.3 3.9 3.1 2.6 2.0 2.1 2.0 2.2 JUL 2.2 1.1 3.5 4.5 0.8 4.5 1.9 1.6 1.7 2.5 3.4 2.1 AUG 1.4 0.9 1.6 1.1 1.5 3.9 0.4 1.2 1.3 0.4 1.1 3.2 1.5 SEP 1.2 0.5 0.9 1.6 1.9 3.0 1.2 1.9 1.2 0.3 0.8 1.0 1.1 1.3 OCT OR LATER 2.5 2.7 1.6 2.9 11.8 2.6 2.5 2.1 1.2 0.0 0.5 1.7 1.0 100.0 100.0 100.0 100.0 1968 SEP 2 6 - S E P 30 TOTAL • 1/ 100.0 100.0 100.0 100.0 100.0 100.0 INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. 100.0 100.0 100.0 TABLE 6 0 MATURITY D I S T R I B U T I O N OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1 / AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 2 5 SEP 1 9 6 8 ICUMULATIVE PERCENTAGE) C D ' S MATURING I N ALL DISTRICTS BOSTON NEW YORK PHILADELPHIA CLEVELAND RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 4.3 4.2 5.2 4.4 3.7 5.0 2.8 3.5 2.9 1.5 3.2 4.5 3.8 OCT 24.3 32.3 23.7 23.4 20.7 27.9 22.8 23.0 22.9 20.0 27.8 26.0 24.2 NOV 38.6 50.1 38.0 37.6 32.6 43.7 35.8 36.7 39.3 30.1 40.8 39.1 40.0 DEC 57.6 66.1 61.4 54.2 45.5 66.7 54.1 55.3 56.1 51.7 57.5 55.4 55.5 1 9 6 9 JAN 72.1 77.6 75.4 65.6 57.2 74.7 65.7 71.8 66.7 75.0 73.4 74.6 71.1 FEB 78.4 82.0 79.9 72.5 64.0 80.0 75.8 78.8 76.5 83.9 80.5 81.1 79.5 MAR 84.5 86.5 86.2 80.1 67.6 88.5 82.9 84.2 82.5 90.7 88.1 87.3 86.4 APR 87. 8 89.3 90.0 83.6 72.2 91.2 84.5 86.8 89.9 93.3 89.9 89.5 89.3 MAY 89.8 91.0 91.8 85.8 73.9 92.3 86.5 89.6 92.9 94.8 90.8 90.9 91.9 JUN 92.7 94.7 94.7 90.6 78.0 93.6 90.4 92.7 95.5 96.8 92.9 92.9 94.1 JUL 94.9 95.8 96.3 94.1 82.5 94.4 94.9 94.6 97.1 98.5 95.4 96.3 96.2 AUG 96.3 96.7 97.4 95.6 86.4 94.8 96.1 95.9 97.5 99.6 98.6 97.3 97.7 SEP 97.5 97.2 98.3 97.2 88.3 97.8 97.3 97.8 98.7 99.9 99.4 98.4 99.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1 9 6 8 SEP 2 6 - S E P 30 OCT OR LATER 1/ 100.0 INCLUDES ONLY CERTIFICATES ISSUED I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 OR MORE BY WEEKLY REPORTING BANKS. r m e *E 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF ZS SEP 196B (PERCENTAGE DISTRIBUTION! CD'S MATURING IN ALL DISTRICTS BOSTON NEW YORK PHI LADELPHIA CLEVELAND CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 1 9 6 8 OCT 22.7 27.4 24.0 18.7 24.4 17.7 22.7 16.6 29.4 8.1 16.3 28.8 23.0 NOV 13.5 16.0 18.2 16.7 11.7 9iT 5.8 11.2 14.7 3.1 7.2 9.3 10.6 DEC 28.4 26.5 30.4 32.0 19.7 29.8 28.4 31.9 21.2 23.9 20.1 29.3 26.2 1 9 6 9 JAN 7.2 12.9 7.7 5.9 6.6 2.2 3.1 7.9 6.5 23.1 7.1 4.0 5.6 FEB 3.4 2.6 1.7 5.4 2.9 2.2 8.8 3.6 3.9 10.1 3.3 4.5 4.9 MAR 13.7 8.1 10.7 7.9 12.6 %4.6 16.9 11.6 15.9 26.3 27.4 19.6 17.1 APR 1.8 1.4 1.6 2.0 3.6 0.7 1.4 2.2 1.9 0.7 0.9 0.5 2.6 MAY 0.8 0.9 0.6 1.0 2.9 0.5 1.1 0.5 0.0 2.1 0.3 0.0 1.2 J UN 1.3 0.7 1.4 2.0 0.5 0.9 3.4 1.7 1.8 0.9 2.6 0.3 0.9 JUL 0.6 0.3 0.6 0.2 0.4 0.4 2.9 0.7 0.3 0.0 0.8 0.0 0.4 AUG 1.1 0.4 0.4 3.0 1.4 0.1 0.5 1.6 0.8 0.0 10.1 1.3 0.7 SEP OR LATER 5.5 2.8 2.8 5.4 13.5 11.2 4.9 10.6 3.7 1.7 3.8 2.3 6.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL * 1/ SEE T E C H N I C A L A P P E N D I X A . 2/ INCLUDES ONLY C E R T I F I C A T E S I S S U E D I N DENOMINATIONS OF $ 1 0 0 , 0 0 0 NOTE * RlCttMONO ATLANTA SALES I N T H I S TABLE ARE NOT ADJUSTED FOR C D ' S D E T A I L S MAY NOT ADD TO TOTALS DUE TO ROUNDING. OR MORE BY MEEKLY REPORTING B A N K S . THAT HAVE MATURED. 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 regulation's 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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