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i • Scplcmber 29, • L. 4.1 19 76 CONFIDENTIAL (FR) SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSITS AT LARGE WEEKLY REPORTING B.V.'KS tilt o f August 2 5 , 1976 NOTE: Sales since the previous survey end comparisons with previous data reflect revisions In the Jvly report whereby $198.7 ml I H o n In outstanding negotiable CDs have bt-en <UUucted from the series. Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1 1/ u* ou*si*N&:NO NEtoiiAbie i:Mt ctRTiFiLAits c» D E P c s n A? HFL'ULV HPOIiTlNi, BANKS ASLF AMjw*; im&Liows *976 F|RtlHlAI»e iisimtfUiim *.Otf.# - j# :**##*&## tt< %nv< * j>AUO * 1*7? JA&LA** WAV AUGUST OVF* If mm%*% 34.8 b»68V .6 12,202.4 51.3 z,759.7 <d ,776.e 13.3 t>6 .O fe* *!**• • 4 9.7 7b. 3 603.4 *,#23.9 7.% 83.6 476. b *7.9 1,630.8 *,2eo.s» !.s *9.6 107.9 *#4t6.0 2.2 92.0 lott.9 ?21.t l.i 93.1 245.7 *34.e 1 .4 94.5 107.1 ato.4 1.3 95.ti bOJ.% 1.2 97.0 l.'*3.S 3.1/ 100.0 XXX 100.0 XXX 16,453.5 minm&mm'* *71.* 1.773.9 se#v€M§ifi so 1.3 2.7 m t t u o i s IMTR c i m t F i C A i i s IN 0€W0*:WA1:0N& OF *100,000 im none */ see ;ttwM:LAi &»#**&%* a . )/ saift of to*? *Ai ;a "ONins. 33.0 783.9 3/ VAX AND DIVIDEND MATURITIES) 1/ A*;** .0 %*.» tOlAfc SEFtiWEE IS 6.2 28.f #f##UA#V *a*t» bALES SINCE tRt-VlbuS MLNTh 2/ (MILLIONS OF DOLLARS 1 I #» e t» #*» • *' *,??*.* (*(**#$# CUMULATIVE FERtENTAbt XXX XXX ISSUED BY WEEKLY REPORTING BANKS. 365.0 481.1 TAELF 2A 1/ M A T U R I T Y O I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF DEPOSIT AT N E W Y O R K C I T Y , C H I C A G O * A N D ALL OTHER WEEKLY R E P O R T I N G B A N K S AS OF 25 AUG 1976 (IN M I L L I O N S OF D O L L A R S ) CHICAGO N E W YORK C I T Y AMOUNT C O * S M A T U R I N G IN AMOUNT SALES SINCE P R E V I O U S M O N T H 2/ ALL OTHER W E E K L Y R E P O R T I N G AMOUNT SALES S I N C E P R E V I O U S M O N T H 2/ 1,28-.6 .0 450.2 .0 2,355.6 .0 6 , 4 6 2 -2 1,602.9 1,509.1 447.6 10,903.5 4,639.1 OCTOBER 4,822.7 820.5 1,189.0 420.7 6,191.2 1,516.5 NOVEMBER 3,485.1 823.6 750.9 347.0 4,538.7 1*606.1 DECEMBER 1,544.9 137.4 503.9 38.6 3,315.5 427.S 1,626.9 108.2 615.4 49.4 2,581.6 319.1 1,106.0 838.7 304.7 124.7 1,393.4 667.4 MARCH 247.2 13.2 228.5 19.6 604.9 7b. 3 APRIL 231.1 56.8 416.4 51.2 810.b 60.9 MAY 135.2 89. O 78.6 51.9 509.7 104.d JUNE 178.8 1>.4 220.3 55.4 53^.9 36.2 1$?6 A U G 26 - AUG 31 SEPTEMBER 197? JANUARY FEBRUARY JULY 76.4 12.5 264.3 AUGUST 98.8 91.2 Z 3 237.2 OVER 419.9 XXX 216.6 22,fIS.9 4,609.4 7,005.1 12 M O N T H S TOTAL * <MEMORANDUM: SEPTEMBER ' *C w ,f Sff APPENDIX *ATU*:\0 Digitized »for WFRASER T A L S "AY NO! *00 nut A. I* P 10 kl?UM$:\C. fTuS. «*t>0 .3 /3 XXX 1,327.0 XXX 1,854.7 36,222 .4 V,9bb.'* <19 A N D D1VI D E N D M A T U R I T I E S ) #7.9 If 2.6 JNLY CtRTl? ft Alt S IN L M A C H I N A T I O N OF $ 1 0 0 , 0 0 3 OR MOkf U O M C A L / tALi ; C4 63.8 Be.4 tlO.2 A *0.4 lO TAX -»4 . 466.3 12 10 OF R E P O R T I N G B A N K S 489 . 16.2 232.4 /3 10.8 50.6 1 S S U C D BY WEEKLY HbPUK I INv 513.5 i ,000 ' tAUtS. 6At SALES SINCE PREVIOUS MONTH , ^90.5 TABLE *E 1/ MAT*0k ] T y LSI SlKlBVi JON OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT H(4 YORK C I T Y , C H I C A G O , AND ALL OIHER WEEKLY REPORTING bANKS AS OF 25 AUG 1976 AND 28 JUL 197b (PERCENTAGE LI S T M B U T J O N ) NFW YORK CITY 25 AUG u-t> DAYS 2/ 01 M O N T H S V CHICAGO 28 JUL 25 AUG ALL OlHtK 28 JUL 25 AUG 5.7 2.4 6.4 4.0 6.5 2b JUL 3.2 28.4 26.7 11.5 31.8 30.1 3 2 .0 02 MONTHS 21.2 20.5 17.0 14.5 17.1 17.0 03 MONTHS 15.3 16.9 10.7 10.5 12.5 12.7 8.0 0 4 MONTHS 11.2 11.2 7.2 5.5 9.2 05 MONTHS 7.2 10.1 8.8 6.4 7.1 7.6 06 M O N T H S 4.9 6.4 4.3 7.7 3.6 6.1 07 MONTHS 1.1 1. 1 3.3 2.5 2.2 2.0 08 MONTHS 1.0 1.0 5.9 2.9 2.2 2.0 0 9 MONTHS .6 .7 1.1 5.0 1.4 2.0 10 MONTHS .8 .2 3.1 .4 1.5 1.1 11 MONTHS .3 .7 H.l 2.3 1.4 1.4 12 MONTHS OVER 12 MONTHS TOTAL * .4 .3 3.4 3.7 1.3 1.2 1.8 1.8 3.1 3.0 3.7 3.6 100.0 100.0 100.0 100.0 100.0 100.0 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS* 2/ NUMBER OF DAYS R E M A I N I N G IN SURVEY M O N T H . THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE M O N T H . 3/ NUMBER OF M O N T H S FOLLOWING THE SURVEY M O N T H . • TOTALS M A Y NOT ADD DUE TO ROUNDING. TABLE it 1/ HAIlFItY 0 1 S 1 R I B U 1 I O N OF O U T S T A N D I N G NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY* C H I C A G O , A N D ALL OTHER WEEKLY REPORTING BANKS AS Of 25 AUG 1976 AND 28 JUL 1976 (CUMULATIVE D I S T R I B U T I O N ) NEW YORK CITY IN 0-6 DAYS 2/ — 25 AUG 26 JUL 5.7 CHICAGO 25 AUG ALL OTHER 28 JUL 25 AUG 28 JUL 2.4 6 .4 4.0 6.5 3.2 01 M O N T H S 3/ 34.1 29.1 27.9 35.8 36.b 35.2 0? MONTHS 55,3 49.6 44.9 50.3 53.7 52.2 93 MONTHS 70.6 66.5 55.6 60.8 66.2 64.9 04 MONTHS 81.8 77.7 62.8 66.3 75.4 72.9 05 MONTHS 89.0 87.8 71.6 72.7 82.5 80.7 OO MONTHS 93.9 94.2 75.9 80.4 bb.3 86 . b 0 7 MONTHS 95.0 95.3 79.2 82.9 db.5 66 . b 08 M O N T H S 96.0 96.3 85.1 85.8 90.7 90.b 0* MONTHS 96.6 97.0 96.2 90.8 92.1 92 .8 ID M O N T H S 97.4 97.2 69.3 91.2 93.6 93 .9 :i M O N T H S 97.7 97.9 93.4 93.b 95.0 9 5.3 12 M O N T H S 98.1 98.2 96.8 97.2 96.3 96.^ 100.0 100.0 100.0 100.0 100.0 100.U VER ! I? MONTHS 1/ tNCLUtrS ONLY CERTIFICATES RANKS. 2/ 4( R OF O A v S REMAINING IN SURVEY M O N T H . THIS PERIOD VARIES WITH THE NUMBER OF DAYS FOLLOWING THE LAST WEDNESDAY OF THE M O N T H . / V'MbtR IN D E N O M I N A T I O N S 0* *100,000 OR MORE '"if MONTHS FOLLOWING THE SURVEY M O N T H . ISSUED BY WEEKLY REPORTING U H * 0#STk%4iTlf OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S Uh DtPOSIT *1 W E E K L Y R E P O R T I N G BANKS BY SIZE f?F P A N K b // AS OF 25 AUG 1976 I A M O U N T S IN M I L L I O N S OF D O L L A R S ) $ lilTAl $500 MILLION TU St BILL ION 4,(4( . Si B I L L I O N TO $5 blLLlON B I L L I U N ANL UVbR TOTAL LiUT ' , I Dc NL H YORK 11 IV Nhw YL'*"\ CITY 1,!S0.5 9 3 4 »t> 421.2 t,320.1 2,059.9 6,151.4 9,566.1 5,798.6 3,7 67.3 522.1 1,03fc.0 3,605.8 7,037.1 4 , 519.4: 2,>17.4 t»# 7 74 • V 426.2 627.4 2 ,240.e 5,4b0.5 3 ,319.3 c » 111. c OtCf**fR o.16*.2 250.9 386.0 1,749.0 3,978.3 2 ,419.0 1,559.3 JANUARY 4,823.* 208.6 353.2 1 ,218.6 3,043.5 1,560.8 I ,462«7 FEBRUARY 2*803.t 121.6 163.8 o50.0 1,867.5 1 ,060.7 o06 »a MARCH 1.280.5 50.0 87.4 359.9 783. j 4:16.2 567.0 APRIL 1,458.0 55.2 iOt .0 *,72.3 824.5 209.7 61** .8 MAY 723.5 3 6.7 69.8 196.7 420.3 119.5 300.b JUNE 934.0 4b.2 8C.3 239.6 567.9 173.5 394.4 JULY d 50.2 53.6 91 .9 200.7 504 .0 71.z 432.b 575.4 46.0 479.4 AUf Zh-tl ilUfwpf* 1 lit H 7*» m «* fLfOt** 12,2C».U N O w I f* ^ I e 1977 S500 Nil i ION & m UNDER 1/ AUGUST SEPTEMBER OR L A T E R TOTAL * 1,077.*, 1,115.3 802.4 30.9 47.2 148.9 1.963.6 51.8 82.3 518.6 1,310.9 401.7 909.2 65,946.6 3,155.5 5,614.4 19,072.2 38,104.5 21,176.1 16,928.4 — (MEMORANDUM: SEPTEMBER 10 671.6 55.5 SEPTEMBER 15 1,774.0 75.6 TAX A N D D I V I D E N D M A T U R I T I E S ) 61.5 269.4 465.2 291.4 193.6 155.7 553.2 989.5 539.2 450.3 (MEMORANDUMS 241 80 N U M B E R OF B A N K S ) 61 83 1/ I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E ISSUED BY WEEKLY R E P O R T I N G 2/ TOTAL ASSETS AS R E P O R T E D IN THE CALL REPORT OF C O N D I T I O N ON JUNE 3 0 , 1975. * T O T A L S M A Y N O T ADO DUE TO F O U N D I N G . 17 BANKS. 10 S A L E S / ! / OF N E G O T I A B L E H U E C E R T I F I C A T E S OF DEPOSIT S I N C E P R E V I O U S M O N T H AT W E E K L Y R E P O R T I N G B A N K S B Y SIZE OF B A N K S 3 / A S OF 2 5 A U G 1976 I A M O U N T S IN M I L L I O N S OF D O L L A R S ) T A B L E 38 2/ $5 B I L L I O N A N D OVER H H AUG $500 MILLION AND UNDER TOTAL C O * S HA T U R I N G IN $500 MILLION TO $1 B1t L L I O N $1 B I L L I O N TO $5 B I L L I O N TOTAL N E W YORK CITY OUTSIDE NEW YORK CITY 2,684.2 1,413.1 1,271.1 16-11 491.9 1,022.0 2,491.3 2,759.7 133.1 291.9 961.9 1,372.8 743.6 629.0 HOWNBeil 2*776.8 189.9 318.0 884.7 1,364.2 763.9 620.3 OECEMBE* 603.* 52.8 73.2 280.3 197.2 113.3 83.9 476.6 36.5 70.5 162.0 207.6 102.5 105.1 1.630.7 77.0 16.0 321.2 1,156.5 627.0 3Z9.5 MARCH 107.% 3.1 4.3 75.2 25.3 13.0 12.3 APRIL 18#*% 3.5 3.9 97.2 84.3 47.5 36.6 MAY 245.6 4.2 12.7 72.6 156.1 77.7 ?&. 4 JUNE 107.1 2.5 2.9 16.5 85.4 15.0 70.4 JULY 82.9 5.4 8.3 13.1 56.1 11.6 *,4.5 T84.1 33.4 46.5 163.4 540.8 61.5 459.3 16,453.i 1,033.1 1,930.2 5,539.4 7,950.5 SEPTEMBER 6,689.4 OCTOBER 19?? J A N U A R Y FEBRUARY AlfGUSl #R L A S E R 1JIAL * — (MEMORANDUMS ** * ^09 . 9 3, /40.c TAX AND D I V I D E N D M A T U R I T I E S ) SEPTEMBER 30 365.1 35.5 33.6 125.9 170.1 *9.7 120.H SEPTEMBER lb 4*1.2 33.0 75.8 164.4 206.v tiO.l 127.9 17 7 10 — - — — — — — — * — * 241 :/ M f ||tH**ICAL A P P t N f !* A . « / i n c l u d e s ct*tiif!t*f * is o e n ^ ' i n a i i n N a V 10IA1 ASSETS A S fctPURlEfe Is T s CALL • T O T A L S M A Y N O T ADI, DUE WP S O U N D I N G . — ' — - BO < MEMORANDUM: 61 NUMBER OF BANKS) 63 o* $ 1 0 0 , 0 0 0 fw more issukD by wftkly h e p o r u n g R f P O R t OF C W m ION O N JUMf- 10, 1975. mnks. • • tM-t 1 it M A T u R I l Y D I S T R I B U T I O N OF O U T S T A N D I N G N E G O T I A B L E TIME C E R T I F I C A T E S OF D E P O S I T AS WfctKLY R E P O R T I N G B A N K S BY SIZE OF bANKS 2 / AS OF 25 AUG 1976 PFRCENTAGE D I S T R I B U T I O N 1/ $5 B I L L I O N AND UVEk IN 10TAL **00 HI LI ION AND UNCIR $500 M I L L I O N TO H BILLION SI B I L L I O N TO *5 B I L L I O N TOTAL NEW YORK CITY AUG 26-31 6.2 ?. 1 7.5 6.9 5.6 5.6 bUTSivi NEW VUKK L17 Y 5.5 SiFTF^bEK 28.6 34.1 36.7 32.3 25.2 27.* <;2 .«• 1 •Kin* Eft lfc.5 16.5 18.5 id.9 Id.5 21.3 14 .v NGVt"8FR 13.3 13.!* W.2 11.7 14.4 15.7 12 .h DECEMBER 9.7 8.0 6.9 9.2 10.s 11.4 9.2 7.3 6.6 6.3 6.4 8.C V.5 8.6 3.4 4.9 5.0 4.6 1.9 2.1 1.0 3.3 1ST? J A N U A R Y FEBRUARY 4.3 3.4 2.9 MARCh 1.9 1.6 1 •*> APRIL 2.2 1.7 1.9 2.5 2.2 1.0 3.6 MAY 1.1 1.2 1.2 1.0 1.1 0.6 1.8 JUNE 1.4 1.5 1.4 1.3 1.5 0.8 2.3 JULY 1.3 1.7 1.6 1.1 1.3 0.3 2.6 AUGUST 1.2 1.0 0.8 0.8 1. *> 0.5 2.8 SEPTEMBER OR LATER 3.0 1.6 1 .5 2.7 3.4 1.9 5.4 100.0 100.0 100.0 100.0 100.0 100.0 100.0 TOTAL $ — 1 MEMORANDUM: TAX AND D I V I D E N D M A T U R I T I E S ) SEPTEMBER 10 1.3 1.8 1.1 1.4 1.3 1.4 1.1 SEPTEMBER 15 2.7 2.4 2.8 2.9 2.6 2.5 2.7 1 / I N C L U D E S C E R T I F I C A T E S IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR M O R E I S S U E D BY W E E K L Y R E P O R T I N G B A N K S . 2 / TOTAL ASSETS AS R E P O R T E D IN THE C A L L REPORT OF C O N D I T I O N O N JUNE 30* 1975. * T O T A L S M A Y N O T ADO D O E T O R O U N D I N G , TABLE 3D 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 SIZE OF BANKS 2/ AS OF 25 AUG 1976 C U M U L A T I V E PERCENTAGE $5 BILLION AND OVER CD'S M A T U R I N G IN TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 BILLION $1 BILLION TO $5 BILLION TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY 6.2 7.1 7.5 6.9 5.6 5.6 5.5 SEPTEMBER 34.8 41.2 44.2 39.2 30.8 33.0 27.9 OCTOBER 53.3 57.7 62.7 58.1 49.3 54.3 42.8 NOVEMBER 66.6 71.2 73.9 69.6 63.7 70.0 55. 79.0 AUG 26-': to DECEMBER 76.3 79.2 80.6 74.1 81.4 64.8 JANUARY 83.6 85.8 87.1 85.4 62.1 6b.9 73.4 FEBRUARY 67.9 89.7 90.0 88.8 87.0 93.9 78.Z MARCH 69.8 91.3 91.6 90.7 89. 1 94.9 til .5 APRIL 92.0 93.0 93.5 93.2 91.3 95.9 65.1 94.2 MAY 93.1 94.2 94.7 92.4 96.5 86.9 JUNE 44.5 95.7 96. 1 95.5 93.9 97.3 69.c JULY 95.8 97.4 97.7 96.6 95.2 97.6 91.6 AUGUST 97.0 98.4 98.5 97.4 96.7 9*.L 94.6 100.0 100.0 100.c 100.0 100.0 100.0 100.0 SEPTEMBER OR LATER %/ INCLUDES C E R T I F I C A T E S IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL ASSETS AS K F P U R T E D IN THE CALL REPORT OF CONDITION ON JUNE 3 0 , 1975. * TOTALS MAY NOT f :>0 Out TO R O U N D I N G . 7AblE SALEL /!/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKb BY SIZE OF BANKS 3/ AS OF 25 AUG 1976 PERCENTAGE DISTRIBUTION ?E Sb BILLION AND OVER :L»S MA7JKING IN 1976 AUG TOTAL $500 MILLION AND UNDER $500 MILLION TO $1 BILLION TOTAL NEW YORK CITY OUT :> I l t •*b W YOHi< CI TV 26-31 SEPTEMBER 40.7 47.6 52 .9 45.0 33. b 33.6 34.0 OCTOBER 16. a 12.9 15.1 17.4 17.3 17.7 16.8 NOVEMBER 16. 9 18.4 16.5 16.0 17.4 lti.l 16.6 3.7 5.1 3.8 5.1 2.5 2.7 2.2 2.9 3.5 3.7 2.9 2.6 2.4 2.6 FEBRUARY 9.9 7.5 3.9 5.8 14.b 19.6 8 .ti MARCH 0.7 0.3 0.2 1.4 0.3 0.3 APRIL 1.1 0.3 0.2 1.8 1.1 1.1 1.6 MAY 1.5 0.4 C.7 1 .3 2.0 1.8 2.1 JUNE 0.7 0.2 0.2 0.3 1.1 0.4 1.9 JULY 0.5 0.5 0.4 0.2 0.7 0.3 1.C AUGUST OR LATER 4.8 3.2 2.4 2.9 6.8 1.9 1Z.3 100.0 100.0 100.0 100.0 100.0 100.0 DECEMBER 1977 JANUARY TOTAL * — SEPTEMBER 10 SEPTEMBER 15 100.0 <MEMORANDUM: 2.2 3.4 1.7 2.3 2.1 1.2 3.2 2.9 3.2 3.9 3.0 2.6 1.9 3.4 241 80 NUMBER OF BANKS) 61 83 — 17 SEE TECHNICAL APPENDIX A. INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. TOTAL ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 3 0 , 1975. TOTALS MAY NOT ADD DUE TO ROUNDING. 0.3 TAX AND DIVIDEND MATURITIES) (MEMORANDUM: 1/ 2/ 3/ * 11 BILLION TO % 5 BILLION 10 TABLE 4A AVERAGE MATURITY OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS AT V A R I O U S SURVEY DATES (IN MONTHS) BANK CLASSIFICATION DATE OF SURVEY , -• — — — — — — — — — — — — 25 AUG 1976 28 JUL 1976 — — — — — 30 J UN 1976 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 3.0 3.0 2.9 NEW YORK CITY 2.6 2.7 2.8 CHICAGO 4.0 3.5 3.0 OTHER 3.1 3,1 3.0 (BY SIZE OF BANK) 2/ UNDER S500 MILLION 2.7 2.7 2.7 $500—$1,000 MILLION 2.5 z.6 2-b $1,000-15,000 MILLION 2.8 2.8 2.8 OVER $5 BILLION 3.2 3.2 3.0 IN NEW YORK CITY 2.6 2.7 2-6 OUTSIDE NEW YORK CITY 3.9 3.7 INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE TOTAL ASSETS AS REPORTED ISSUED BY WEEKLY REPORTING BANKS. IN THE CALL REPORT OF CONDI I T , UN JUNE 30, 1975. TABLE 46 AVERAGE MATURITY OF NECL-TIABU TIME CERTIFICATES OF DEPOSIT 1/ SOLD BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN MONTHS) DATE OF SURVEY 25 AUG 1976 28 JUL 197b 30 J UN 1976 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 2.8 2.6 2.4 NEW YORK CITY 2.9 2.7 3.0 CHICAGO 4.0 3.3 2.2 OTHER 2.5 2.4 2.2 (BY SIZE OF B A N K ) 2/ UNDER $500 MILLION 2.4 2.2 2.3 $500-11,000 MILLION 2.0 2.1 2.0 $1*000~$5,000 MILLION 2.4 2,3 2.2 OVER $5 BILLION 3.3 2.9 2.6 IN NEW YORK CITY 2,9 2.8 3.1 OUTSIDE NEW YORK CITY 3.7 3.1 2.2 1/ INCLUDES CERTIFICATES IN D E N O M I N A T I O N S OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL NOTE—SEE ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. TECHNICAL APPENDIX B. TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER C E N T ) DATE OF SURVEY TOTAL ASSETS 2/ IIN MILLIONS OF DOLLARS) 25 AUG 1976 18.7 19.1 18.8 UNDER 500 13.5 13.5 12.7 500 - 1000 15.2 14.8 13.9 15.2 1000 - 5000 15.3 14.9 22.9 23.5 23.4 IN NEW YORK CITY 27.3 27.6 25.4 OUTSIDE NEW YORK CITY 19.0 19.7 21.5 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE NOTE- 30 JUN 1976 ALL BANKS ISSUING CD'S OVFR 5000 2/ TOTAL 28 JUL 1976 ASSETS AS REPORTED ISSUED BY WEEKLY REPORTING BANKS. IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT DEPOSITS. TAME 56 RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF ?5 AUG 1976 (NUMBER OF bANKS) TOTAL ASSETS 2/ ( IN MILLIONS OF DOLLARS! 5t OR LESS ALL BANKS ISSUING CD'S 5 TO lOt 15 TO 20* 10 TO 15% 20 TO 25% ^5% Ok MORE AVfckAGfc LL 10 DEPOSIT RATIO (PER CENT) 34 56 37 30 40 10 9 9 13.b UNDER 500 17 16 19 500 - 1000 12 8 17 4 9 11 15.2 1000 - 5000 15 9 17 20 10 12 15.2 0 1 3 3 2 3 22.9 IN NEW YORK CITY 0 0 1 0 4 27.3 OUTSIDE NEW YORK CITY 0 t 2 3 4 19.C OVER 5000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE 2 / TOTAL NOTE- ASSETS ISSUED BY WEEKLY REPORTING B A N K S . AS REPORTED IN ThE CALL REPORT OF CONDITION ON JUNE 30, 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK A N D U . S . GOVERNMENT DEPOSITS. I TABLE 5C PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 28 JUL 1976 TO 25 AUG 1976 (NUMBER OF B A N K S ) INCREASES OF DECLINES OF TOTAL ASSETS 2/ (IN MILLIONS OF D O L L A R S ) REDUCED CD'S TO ZERO ALL BANKS ISSUING CD'S 103 OR MORE 5 TO 10% 5% OR LESS NO CHANGE 51 OR LESS 10 42 26 33 59 5 TO 10* OR MORE 10% 28 ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE 42 UNDER 500 0 7 9 17 6 18 7 15 1 500 - 1000 0 4 6 12 2 11 9 17 0 1000 - 5000 C 13 13 21 2 12 12 10 0 OVER 5000 0 2 5 9 0 1 0 0 0 0 1 2 4 0 0 0 0 0 1 3 5 0 1 0 0 0 IN NEW YORK CITY OUTSIDE NEW YORK CITY 0 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30 , 1975. THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES Tu 1HE EXTENT THAT BANKS IMA HAD OUTSTANDING CD'S ON THE LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. TABLE 50 PER CENT CHANbE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF UEP0S1T /I 26 MAY 1976 TO 25 AUG 1976 (NUMBER OF BANKS I 70T&L DEPOSITS /2 U N MILLIONS OF DOLLARS) iLL BANKS ISSUING CD'S REDUCED — — — — — — CD * S 251 OR TO ZERO MORE DECLINES OF INCREASE OF , — 20 TO 25* 15 TO 20% 10 TO 15% 5 TO 10% 5% OR LESS 36 6 NO CHANGE — — — — —— — — 5% OR LESS 5 TO 10% 34 2ti 17 0 13 7 13 10 31 UNDER 500 0 7 2 4 4 9 9 4 7 6 500 - 1000 0 1 3 3 2 5 i 1 9 9 1000 - 5000 0 5 2 4 3 9 18 1 17 10 TO 15% 15 TO 20* 2C 10 2 5* — — — — — — , 25% OA MURE IbSULi.; LD * S 5 u I :im u NONE UU 1 b f ANUl.Nb ON BASE uAlfc 7 9 7 3 4 13 1 5 3 3 11 G 11 5 I 2 5 0 29 1 0 0 0 2 1 8 3 0 1 2 0 0 C 0 0 IN NEW YORK CITY 0 0 0 1 0 5 0 0 1 0 0 0 0 0 0 OUTSIDE NEW YORK CITY 0 0 0 1 1 3 3 0 0 2 0 0 0 0 0 OVER 5000 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING B A N K S . 2/ TOTAL NOTE- ASSETS AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975. THE NUMBER OF BANKS IN THIS TABLE DIFFERS FROM THOSE IN MOST OTHER TABLES 1U 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 28 JUL 1976 TO 25 AUG 1976 (NUMBER OF B A N K S ) DECLINES OF TOTAL ASSETS 2/ (IN MILLIONS OF DOLLARS) 3% AND OVER 2 TO 3% 1 TO 2% INCREASES OF 1% AND LESS NO CHANGE IX AND LESS 1 TO 2X 2 TO 3% 3% AND OVER ALL BANKS ISSUING CD'S 6 7 32 73 10 66 22 14 10 UNDER 500 1 1 10 21 6 23 8 4 5 500 - 1000 2 1 3 16 2 22 6 6 3 1000 - 5000 2 4 12 29 2 20 8 4 2 OVER 5000 1 1 7 7 0 1 0 0 0 0 0 0 0 0 0 1 0 0 G IN NEW YORK CITY 1 0 3 3 OUTSIDE NEW YORK CITY 0 1 4 4 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF *100,000 OR MORE 2/ TOTAL NOTE- ASSETS ISSUED BY WEEKLY REPORTING RANKS. AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30, 1975 DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL D E M A N D AND TIME DEPOSITS, INCLUDING INTERBANK A N D U.S. GOVERNMENT DEPOSITS. TABLE 5F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OP DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING OF THE PERIOD 26 MAY 1976 TO 25 AUG 1976 (NUMBER OF BANKS) INCkbASES OF DECLINES OF TOTAL ASSETS 2/ (IN MILLIONS OF DOLLARS) 5% AND OVER 4 TO bt 3 TO 4% ALL BANKS ISSUING CD'S 6 UNDER 500 1 1 5 500 - 1000 1 0 0 1000 - 5000 3 0 0 OVER 5 0 0 0 1 0 2 IN NEW YORK CITY OUTSIDE NEW YORK CITY 1 0 0 1 0 I TO 2X 2 TO 3% 7 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 3 10 4% 2 TO 3% 2/ TOTAL ASSETS 52 6 54 30 4 8 15 4 14 12 3 b 2 4 3 7 9 1 IB 7 3 7 3 2 4 11 25 1 22 9 6 0 2 0 4 4 3 0 0 2 1 0 0 0 2 0 0 0 1 0 0 0 0 2 3 0 0 1 1 0 0 0 0 4 2 0 13 13 AS REPORTED IN THE CALL REPORT OF CONDITION ON JUNE 30 , 1975. DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U . S . GOVERNMENT DEPOSITS. • 30 15 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100 ,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. NOTE- b% AND UVEA 4 10 b* 7 TABLE 6A M A T U R I T Y D I S T R I B U T I O N OF O U T S T A N D I N G NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT W E E K L Y REPORTING BANKS BY F E D E R A L RESERVE DISTRICT 1/ AS OF 25 AUG 1976 (AMOUNTS IN MILLIONS OF D O L L A R S ) CD•S MATURING IN 1976 AUG 26—AUG 31 SEP ALL DISTRICTS BOSTON 4090.7 124.4 18875.0 964.2 MINNEAPOLIS KANSAS CITY DALLAS 641 .4 52.1 31.0 121.2 330.6 635.1 744.2 2329.7 246.0 131.9 566.5 1402.0 2912.9 497.5 1837.3 134.0 41.4 272.1 687.0 1484.7 CHICAGO 204.7 147.1 216.4 822.0 9 10.1 581.3 351.1 CLEVELAND 1421.1 165.6 7262.2 SA#f FRANCISCO ST. LOUIS RICHMOND ATLANTA PHILADELPHIA NEW YORK OCT 12202.8 557.5 5205.9 576.6 557.7 NOV 8774.6 328.5 3690.6 340.3 397.6 261.9 403.1 1070.7 114.6 52.2 168.9 436 . 6 1509.6 DEC 6364.2 269.8 2689.9 203.0 357.9 179.5 223.9 800.3 109.5 47.1 85.8 *•11 .4 966.1 1977 JAN 4824.0 132.8 1682.2 147.4 241.6 180.1 196.8 763.1 84.4 37.3 8b .4 415.b 654.1 83.3 103.1 413.6 43.3 43.0 FEB 2803.0 98.5 1138.3 53.8 92.6 34.5 lc3.S 534.9 MAR 1280.5 51.3 257.6 45.1 62.6 25.0 55.2 267.6 26.9 18.8 33.3 70.3 366. b APR 1457.9 39.5 2 50.2 29.2 110.5 26.8 49.2 462.3 20.3 5.2 31.6 161.8 271.3 MAY 723.4 19.8 153.4 25.4 33.8 13.3 29.1 99.1 13.1 3.1 24.0 69.2 24C^^ JUN 933.9 34.6 196.1 60.2 46.0 50.8 33.9 244.0 15.4 2.9 23.4 >0.6 17o. 0 JUL 850.4 21.7 64-3 44.9 34.5 10.7 29.7 307 .5 5.5 1.0 35.6 133.7 14 i. : AUG 802.3 11.3 102.3 25.3 65.3 6.9 19.5 248.7 3.7 6.3 17.6 66 . 8 c28.c 1963.5 139.3 434.8 112.6 299.0 39.7 55.7 235.2 33.1 14.3 36.0 33.6 5/6 . c 2651.4 3413.9 1957.5 2657.3 9720.7 901 .9 435.5 1542.9 3.6 2.7 2.7 3.5 3.1 3.1 2.7 2.9 19 23 36 11 18 <3 SEP OR LATER 107AL * 659*6.2 2813.2 24568.9 AVERAGE MATURITY IN MONTHS 2/ 3.0 2.8 2.5 2.9 NUMBER OF REPORTING BANKS 241 16 36 10 16 1/ INCLUDE S ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORT INC, HANKS. 2/ SEE TECHNICAL APPENDIX B. * D E T A I L S MAY NOT &DD TO TOTALS DUE TO ROUNDING. 4433.3 106t9.1 3.5 TABLE 6b 1/ 2/ SALES CF NEGJl 1 At$LF TIME C E R T I F I C A T E S OF D E P O S I T SINCE WEEKLY R E P O R T I N G B A N K S BY F E D E R A L R E S E R V E DISTRICT P R E V I O U S MONTH AS OF 25 AUG 1976 1 AMOUNTS CD'S MATURING CLEVELAND 2C44.2 346.3 370.3 RICHMONO ATLANTA ! i PHILADELPHIA NEW YUdK i l i i g | BOSTON 55 ALL DISTRICTS IN IN M I L L I O N S OF D O L L A R S ) ST. LOUIS MINNEAPOLIS KANSAS CITY 79.7 63.0 283.7 bALLAS f- h A i\ C1 SC b 319.4 751 .4 9 7. * 110.5 541.4 39.9 15.5 53.9 150.3 ct> * . i 06. B 135.3 ^74.2 4*1.7 12.n 7b .b 194. c 4 <.4 . G 37.8 16.5 21.3 67.8 17.6 5.3 16.0 65 .6 SEP t»66fc . 1 *08.4 OCT <759.8 it i.9 9*5.7 202.0 143.2 88.0 125.6 21.6 20e.Z 6 3** . 4 i109.1 NOV 2776.6 169.5 V«,8.3 DEC 603.4 52.2 175.4 1977 JAN 476.7 *3.6 115*0 16.7 52.9 26.7 15.6 73.2 16.9 1/.3 15. 1 39.3 o9 . 35.a 55.1 63.3 FEB 1630.9 29.2 650.6 33.9 175.3 28.5 15.b 17.3 87.b 23o.5 MAR 108.0 6.2 14.7 1.7 5.3 5.4 2.2 21.3 4.4 15.6 1.3 10.7 19.2 APR 186.9 8.9 60.9 1.2 4.1 5.7 2.0 54.9 2.9 3.0 0.3 42.4 2.6 MAY 245.7 8.0 93.4 1.5 4.6 3.6 3.9 55.5 4.7 0.0 3.3 32.5 34.7 JUN 107.1 3.6 17.4 2.1 3.6 3.2 0.4 59.5 0.4 0.0 0.5 0.5 15.9 6.4 2.3 1.4 4.8 83.3 3.5 13.7 21.4 0.3 0.0 3.7 5.5 zG. 3 785.7 29.7 95.6 22.8 60 . 4 7.4 22.1 244.4 0.6 3.1 16.3 65 .4 217.7 16454.8 900.7 5414.9 746.2 845.9 517.4 700.8 2560.3 237.8 *90.0 1398.6 <1476.2 2.7 2.3 2.6 2.0 2.7 2.4 2.3 3.5 2.7 2.0 2.c JUL AUG OR LATER TOTAL * AVERAGE MATURITY IN M O N T H S 3/ 1/ SEE T E C H N I C A L A P P E N D I X A. 2 / INCLUDES ONLY CERTIFICATES 3 / SEE T E C H N I C A L A P P E N D I X I S S U E D IN D E N O M I N A T I O N S OF B* • D E T A I L S MAY NOT ADD TO TOTALS DUE TO ROUNDING* 166 . 0 * 1 0 0 , 0 0 0 OR M O R E BY W E E K L Y R E P O R T I N G B A N K S . 2.7 -I'M TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 25 AUG 1976 (PERCENTAGE DISTRIBUTION) C D 1 S MATURING IN 1976 AUG 26—AUG 31 ALL DISTRICTS BOSTON 6.2 4.4 PHILADELPHIA CLEVELAND 5.8 6.2 6.0 7.5 8.1 NEW YORK RICHMOND ATLANTA CHICAGO SAN^F FRANCISCO ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS 6.6 5.8 7.1 7.9 7.5 5.9 SEP 28.6 34.3 29.6 31.0 26.6 29.7 28.0 24.0 27.3 30.3 36.8 31.6 16.8 OCT 18.5 19.8 21.2 21.7 16.3 17.9 18.7 18.9 14.9 9.5 17.6 15.5 13.7 NOV 13.3 11.7 15.0 12.8 11.6 13.4 15.2 11.0 12.7 12.0 10.9 9.8 13.9 DEC 9.7 10.3 10.9 7.7 10.5 9.2 8.4 8.2 12.1 10.8 5.6 9.3 6.9 1977 JAN 7.3 4.7 6.8 5.6 7.1 9.2 7.4 7.9 9.4 8.6 5.7 9.4 7.9 FEB 4.3 3.5 4.6 2.0 2.7 4.3 3.9 4.3 4.8 9.9 2.2 3.7 4.9 MAR 1.9 1.8 1.0 1.7 1.8 1.3 2.1 2.8 3.0 4.3 2.2 1.6 3.4 APR 2.2 1.4 1.0 1.1 3.2 1.4 1.9 4.8 2.3 1.2 2.0 3.6 MAY 1.1 0.7 0.6 1.0 1.0 0.7 1.1 1.0 1.5 0.7 1.6 1.6 JUN 1.4 1.2 0.8 2.3 1.3 2.6 1.3 2.5 1.7 0.7 1.5 1.1 1.6 JUL 1.3 0.8 0.3 1.7 1.0 0.5 1.1 3.2 0.6 0.2 2.3 3.0 1.3 AUG 1.2 0.4 0.4 1.0 1.9 0.4 0.7 2.6 0.4 1.4 1.1 1.5 J SEP OR LATER 3.0 5.0 1.8 4.2 8.8 2.0 2.1 2.4 3.7 3.3 2.5 O.b 4.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100. C TOTAL * 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. TABLE 6b MATURITY DISTRIBUTION OF O U T S T A N D I N G NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT 1/ AS OF 25 AUG 1976 (CUMULATIVE PERCENTAGE) CD'S MATURING AUG IN 2b -AUG 31 SEP ALL DISTRICTS BOSTON 6.2 4.4 34.8 NEW YORK PHILADELPHIA CLEVELAND RICHATLANTA MOND 5.8 6.2 6.0 7.5 8.1 38.7 35.4 37.2 32.6 37.2 36.1 58.9 48.9 ST. LOUIS MINNEA POLIS KANSAS CITY DALLAS SAN FRANL3 biu 6.6 5.6 7. 1 7.9 7.5 5.9 30.6 33.1 37.4 44.7 39.1 32.7 CHICAGO OCT 53.3 58.5 56.6 55.1 54.8 49.5 48.0 <*6.V 62.3 54.O 4o . 4 NOV 66 .6 70.2 71.6 71.7 60.5 68.5 70.0 60.5 60.7 58.9 73.2 64.4 60. j| DEC 76.3 60.5 82.5 79.4 71.0 77.7 78.4 68.7 72.8 69.7 7b. b 73.7 oS.P JAN 83.6 85.2 69.3 85.0 78.1 86.9 85.8 76.6 82.2 7b.3 84.5 63.1 77.1 FEB 87.9 88.7 93.9 87.0 80.8 91.2 89.7 80.9 87.0 88.2 66.7 86 . 6 b2.0 MAR 89.8 90.5 94.9 88.7 82.6 92.5 91.8 83.7 90.0 92.5 88.9 88.4 85.4 APR 92.0 91.9 95.9 89.8 65.8 93.9 93.7 88.5 92.3 93.7 90.9 92.0 67.9 MAY 93.1 92.6 96.5 90.8 86.8 94.6 94.8 89.5 93.8 94.4 92.5 93.b 90.1 JUN 94.5 93.8 97.3 93.1 88.1 97.2 96.1 92.0 95.5 95.1 94.0 94.7 91.7 JUL 95.8 94.6 97.6 94.8 89.1 97.7 97.2 95.2 96.1 95.3 96.3 97.7 93.0 AUG 97.0 95.0 98.0 95.8 91.0 98.1 97.9 97.8 96.5 96.7 97.4 V9.2 95.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 SEP OR LATER 1/ INCLUDES O N L Y C E R T I F I C A T E S 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 25 AUG 1976 (PERCENTAGE DISTRIBUTION) ALL DISTRICTS BOSTON 1976 SEP 40.6 45.3 OCT 16.8 NOV CD'S MATURING IN ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS S A * FRANCISCO 29.3 33.5 50.0 57.9 48.9 44.8 15.8 21.1 16.8 9.3 11.0 10.7 10.o 16.8 19.3 18.5 17.5 7.5 15.6 13.9 17.1 3.6 3.0 3.4 7.4 3.2 3.7 6.1 2.5 6.3 5.2 2.2 2.9 7.1 7.4 3.1 2.8 2.8 4.5 4.2 10.6 9.0 6.6 12.0 9.5 3.5 6.3 9.6 0.2 0.6 1.0 0.3 0.6 1.9 9.4 0.3 0.6 0.6 1.2 1.8 0.1 3.0 0.1 RICHMOND ATLANTA PHILADELPHIA CLEVELAND 37.8 46.7 43.8 39.9 45.6 17.5 18.2 27.1 16.9 18.8 16.9 18.8 17.5 11.8 14.8 DEC 3.7 5.8 3.2 2.9 4.5 1977 JAN 2.9 2.6 2.1 2.2 FEB 9.9 3.2 15.7 MAR 0.7 0.7 0.3 NEW YORK CHICAGO APR 1.1 1.0 1.1 0.2 0.5 1.1 0.3 2.1 MAY 1.5 0.9 1.7 0.2 0.5 0.7 0.6 2.2 2.0 0.0 0.7 2.3 JUN 0.7 0.4 0.3 0.3 0.4 0.6 0.1 2.3 0.2 0.0 0.1 0.0 0.6 JUL 0.5 0.4 0.3 0.9 0.3 0.3 0.7 0.8 0.1 0.0 0.6 0.4 0. b AUG OR LATER 4.8 3.3 1.8 3.1 7.1 1.4 3.2 9.5 0.3 1.9 3.3 H .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 TOTAL * 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. NOTE - SALES IN THIS TABLE ARE NOT ADJUSTED FOR CD'S THAI HAVE M A T U R E D . • D - T A I L S MAY NOT ADD 10 TOTALS DUE TO ROUNDING. I # D . TI 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- parable1 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 tie* deposits under current regulations is 30 days, the time period between monthly survey dates (28 to 34 days) suggests that very few sales are loet 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 W # CALCULATION OF AVERAGE MATURITIES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT OUTSTANDINGS Average maturities of outstanding negotiable time certificates of deposit are calculated on a weighted average basis. All CD's are assumed to mature in the middle of the month and those CD's maturing in the survey m o n t h — a f t e r the survey date — are assumed to mature in the middle of the period between the .survey date and the end of the calendar month in which the survey is taken. The weights are the quantity of CD's maturing in each month or fraction thereof as a proportion of total CD's outstanding and the starting date for calculations is the survey date. A downward bias in the calculated average maturity develops from the fact that all CD's maturing in more than twelve months after the survey date are lumped together. All of these CD's are assumed to mature in the middle of the twelfth full month after the survey date, regardless of the actual, but unknown, maturity of the CD's maturing in more than twelve full months, SALES Average maturity of negotiable time certificates of deposit sold between survey dates are calculated in exactly the same way. That is, 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 ia the esse 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 cere and references should be made to actual dollar aalee bv 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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