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L.4.1 CONFIDENTIAL (FR) September 9, 1970. ffDERAL RESERVE BANK Kansas SEP ~~ Res <xirch city 1970 18 Library - SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF DEPOSIT AT LARGE WEEKLY REPORTING BANKS AS OF July 29, 1970. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. TABLE 1 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT WEEKLY REPORTING BANKS AS OF 29 JUL 1970 CD* S MATURING IN AMOUNT (MILLIONS OF DOLLARS) CUMULAT IV E PERCENTAGE PERCENTAGE DISTRIBUTION SALFS SINCE PREVIOUS MONTH 2/ (MILLIONS OF DOLLARS) 595.6 3.3 3.3 .0 AUGUST 4,482.6 25.0 28.3 2,808.5 SEPTEMBER 3,879.3 21.7 50.0 2,626.5 OCTOBER 2,758.8 15.4 65.4 1,916.4 NOVEMBER 644.3 3 .6 69.0 78.2 DECEMBER 727.8 4.1 73.1 117.1 779.2 4.4 77.5 254.5 FEBRUARY 542.0 3.0 80.5 8.2 MARCH 768.8 4.3 84.8 6. 0 APRIL 1,102.2 6 .2 91.0 9.2 MAY 372.1 2.1 93.1 10.8 JUNE 448 . 6 2.5 95.6 89.1 JULY 355.2 2.0 97.6 437.5 3/ 457.2 2.6 100.0 XXX 17,913.7 100 .0 XXX 8,367.0 1970 JULY 30 - 31 1971 JANUARY OVER 12 MONTHS TOTAL (MEMORANDUM: SEPTEMBER SEPTEMBER 78.7 348.8 XXX XXX .7 2 .4 12 9.4 423*3 10 15 TAX AND DIVIDEND. MATURITIES ) 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX A. 3/ SALES OF CD'S MATURING AFTER http://fraser.stlouisfed.org/ * * * Federal Reserve Bank of St. Louis 11 MONTHS. * # # # # I # 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 29 JUL 1970 I IN MILLIONS OF DOLLARS 1 CD'S MATURING IN AMOUNT 1970 JUL 30 - JUL 31 226. 2 AMOUNT SALES SINCE PREVIOUS MONTH 2/ ' ALL OTHER WEEKLY REPORTING BANKS CHICAGO NEW YORK CITY SALES SINCE PREVIOUS MONTH 2/ AMOUNT SALES SINCE PREVIOUS MONTH 2/ .0 33.2 .0 336. 2 .0 AUGUST 1,424.2 929.5 369 .3 225.0 2,689.1 1,654.0 SEPTEMBER 1,153.3 826.6 350.7 232.1 2,375 .3 1,567.8 OCTOBER 666.9 537.0 183.9 155.0 1,908.0 1,224.4 NOVEMBER 138.3 28.2 29.0 9.6 477.0 40.4 DECEMBER 181.8 20. 1 29.6 2.8 516.4 94.2 84.9 47.1 35.8 10.3 658.5 197.1 61.5 .3 24.0 .1 456.5 8.0 MARCH 137.7 .2 51.9 .1 579.2 5.9 APRIL 284.4 2.3 46 .6 .0 771.2 6.9 MAY 22.1 .0 20.4 .2 329. 6 11.0 JUNE 27.8 2.1 34.2 2.4 386.6 84-. 6 JULY 32.4 1971 JANUARY FEBRUARY OVER 67. 7 XXX 15.0 XXX 374.5 XXX 4,509.2 2,468.5 1,258.1 677.2 12,146.4 5,216.3 12 MONTHS TOTAL * 322.0 Z3 288.3 40.4 Z3 34.5 75.1 /3 (MEMORANDUM: SEPTEMBER 10 SEPTEMBER 15 35.6 195.8 1/ INCLUDES ONLY CERTIFICATES 233 11 12 NUMBER OF REPORTING BANKS TAX AND DIVIDEND MATURITIES) 8.6 23.6 33.3 166.7 2.7 12.6 42.7 169.5 B5.2 203.9 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. http://fraser.stlouisfed.org/ • e * # Federal Reserve Bank of St. Louis e # # e # e < 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 29 JUL 1970 AND 24 JUN 1970 (PERCENTAGE DISTRIBUTION* rU rv» SC nMAA1TUK 1 ID v 1 Tbm r*1 IiNki ALL OTHER CHICAGO NEW YORK CITY IN 29 JUL 24 JUN 29 JUL 24 JUN 29 JUL 24 JUN 5.0 5.2 2.6 5.5 2.8 7.7 01 MONTHS 3/ 31.6 28.1 29.4 31.6 22.1 22.0 02 MONTHS 25.6 19.2 27.9 16.6 19.5 11.0 03 MONTHS 14. 8 X 12.0 14.6 13.6 15.7 8.6 04 MONTHS 3. 1 4.8 2.3 3.3 3.9 7.3 05 MONTHS 4.0 4.0 2.4 2.2 4.3 4.7 06 MONTHS 1.9 5.9 2.8 3.1 5.4 4.5 07 MONTHS 1.4 1.4 1.9 2.9 3.8 4.9 08 MONTHS 3.1 2.3 4.1 2.8 4.8 4.8 09 MONTHS 6.3 5.1 3.7 6.0 6.4 6.1 10 MONTHS .5 10.4 1.6 5.4 2.7 8.1 11 MONTHS .6 .8 2.7 2.4 3.2 3.4 12 MONTHS .7 .9 2.7 3.7 2.4 3.2 1.5 .9 1.2 1.0 3.1 3.6 100.0 100.0 100.0 100 .0 100.0 100.0 0 — 6 DAYS 2/ OVER 12 MONTHS TOTAL * 1/ INCLUDES ONLY CERTIFICATES IN DENOMINATIONS OF $100,000 OH MORE ISSUED BY WEFKLY 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. * TOTAL ^ t A Y NOT ADD ^ J E TO ROUNOJI^. TABLE 2C 1/ MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO, AND ALL CTHER WEEKLY REPORTING BANKS AS OF 29 JUL 1970 AND 24 JUN 1970 (CUMULATIVE DISTRIBUTION) ' s MATURING IN 29 JUL ALL CHICAGO NEW YORK CITY 24 JUN 29 JUL 24 JUN 29 JUL 24 JUN 5.0 5.2 2.6 5.5 2.8 7.7 01 MONTHS 3/ 36.6 33.3 32.0 37.1 24.9 29.7 02 MONTHS 62.2 51.5 59.9 53.7 44.4 40.7 03 MONTHS 77.0 63.5 74.5 67.3 60.1 49.3 04 MONTHS 80.1 68.3 76.8 70.6 64. 0 56.6 05 MONTHS 84.1 72.3 79.2 72.8 68. 3 61.3 06 MONTHS 86.0 78.2 82.0 75.9 73.7 65.8 07 MONTHS 87.4 79.6 83.9 78.8 77.5 70.7 08 MONTHS 90.5 81.9 88.0 81.6 82.3 75.5 09 MONTHS 96. 8 87.0 91.7 87.6 88.7 81.6 10 MONTHS 97.3 97.4 93.3 93.0 91.4 89.7 11 MONTHS 97.9 98.2 96.0 95.4 94.6 93.1 12 MONTHS 98.6 99.1 98.7 99.1 97.0 96.3 100.0 100.0 100.0 100.0 100.0 100.0 0-6 DAYS 2/ 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. http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis • # # e * * MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS 9Y SIZE OF BANKS 2/ AS OF 29 JUL 1970 (AMOUNTS IN MILLIONS OF DOLLARS) TABLE 3A $1 BILLION AND OVER $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION 595.5 27.3 73.5 110.0 AUGUST 4,482.5 302.6 589.5 SEPTEMBER 3,879.4 241.7 OCTOBER 2,758.7 173.9 CD'S MATURING IN 1970 JUL 30-31 TOTAL PRIME 3/ OUTSIDE NEW YORK CITY NON-PRIME NEW YORK CITY 384.7 214.9 97.9 71.9 741.3 2,849.1 1,334.3 868. 0 646.8 545.7 609.4 2,482.6 1,088.2 832.5 561.9 384.7 467.7 1,732.4 630.0 752.2 350.2 TOTAL 644.1 64 . 1 125.5 112.9 341.6 134.6 119.7 87.3 NOVEMBER 727.7 68.8 123.5 121.6 413.8 174.2 144.7 94.9 DECEMBER 779.3 68.6 196.2 182.0 332.5 81.3 150.6 100.6 541 .8 54.1 92.2 127.0 268.5 58.7 154.0 55.8 FEBRUARY 768.8 58.7 101.1 131.9 477.1 127.6 240. 7 108.8 MARCH 1,102,1 65.1 13 8.9 154.5 763.6 252.7 315.2 175.7 APRIL 372.1 53.8 91.1 72.4 154.8 21.6 88.0 45.2 MAY 448.6 45. 9 113.5 87.3 201.9 21.2 117.4 63.3 JUNE 355.0 3 7. 7 75.4 77.2 164.7 30.7 82.4 51.6 JULY AUGUST OR LATER 457.2 21.5 50.3 74.2 311.2 67.4 172.0 71.8 17,912.8 1,283.8 2,701.1 3,069.4 10,858.5 4,237.4 4,135.3 2,485.8 1971 JANUARY TOTAL * — (MEMORANDUM: TAX AND DIVIDEND MATURITIES) 129.3 7.1 20.1 20.7 81.4 22.4 25.4 10 423.2 12.5 33.7 43^.5 333.5 186.2 95.4 SEPTEMBER 15 SEPTEMBER (MEMORANDUM: 256 „ .NCLOOES C E R , , F , C . T E S , « DENOMINATIONS OE * TOTALS MAY NOT ADD DUE TO ROUNDING. 91 NUMBER OF BANKS) 81 .100,000 OR NORE ISSUED J» 47 37 12 « | W T , 1 . 0 BANKS. BEING OF THE HIGHEST QUALITY AND WHICH ARE HF SECONDARY MARKET. TABLE 36 $L BILLION AND OVER CD'S MATURING IN 1970 JUL TOTAL $200 MILLION AND UNDER $200 MILLION TO $600 MILLION $500 MILLION TO $1 BILLION PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 30-31 AUGUST 2,808*4 157*4 328 ;0 49 2*5 1*830.5 885.0 508*0 437.5 SEPTEMBER ZrbZbit, 134.2 3544 1 382.4 If755.9 77%. 5 569.0 410-4 OCTOBER 1,916.4 101*9 246 4 5 322.2 1,245.8 510.7 496.8 238 ..3 NOVEMBER 78.1 4.1 6*0 13*0 55*0 28.0 18.3 8.7 DECEMBER 117.1 19.5 26 .5 21 .5 49*6 20.1 24.4 5.1 254.5 25.3 4*8.0 37.8 143%# 46.2 53^7 43.5 FEBRUARY 8.2 2.0 1.4 3.8 1.0 0.3 0.5- 1.2 MARCH 6.0 2.6 0.5 2.2 0*7 0.1 0.6— 1.2 APRIL 9.2 1.6 1.6 1.8 4v2 2.3 0.9 1.0 MAY i0.9 1.5 1 .6 2.8 5.0 0.0 1.9 3.1 JUNE 89.1 Wi* 30.2 17.6 23.5 1 .9 16.0 10.6 437.3 44*3 82 .5 92.5 218^.0 73.3 86wS 57.9 8,361.8 507*2 t *426 *9 1*390*1 5*337.6 2^344*4 1*77%. 7 1*218.5 1971 JANUARY JULY OR LATER TOT At * t TWITOfWIlllWiTi SEPTEMBER 10 SE*TEWWER 15 78; 7 348.8 v a.nmrnv nui* aj t ncunrrHuji wi vcm/ it v./irivin i t i c c & 2'.9 9.1 ' 7.9- _ 20.1 mmjti 25** 7S*3 OF B^NWS I? 256 w m 47 7 12 1/ SEE TECHNICAL APPENDIX A'. 2/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 3/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. Digitized FRASER 4/ for PRIME BANKS ARE THOSE WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE http://fraser.stlouisfed.org/ g*E PORTED BY DfALERS TO TRAJ1E WITHIN 1 0 ^ 2 BASIS POINTS OF EACH CTtiER WITHIN TH£SECONDARY M^gKET. Federal of St.NLouis * Reserve ™ O T A LBank S MAY # ADO DUE TO mlUNDING. W # # 18 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSI AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 29 JUL 1970 PERCENTAGE DISTRIBUTION TABLE 3C $1 BILLION AND OVER CD'S MATURING IN 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 3. 3 2. 1 2. 7 3. 6 25. 0 23. 6 21. 8 24. 2 26. 2 31. 5 21. 0 26. 0 AUGUST 21. 7 18. 8 20. 2 19. 9 22. 9 25. 7 20. 1 22. 6 SEPTEMBER 15. 4 13. 5 14. 2 15. 2 16. 0 14. 9 18. 2 14. 1 OCTOBER 3. 6 5. 0 4. 6 3. 7 3. I 3. 2 2. 9 3. 5 NOVEMBER 4. 1 5. 4 4. 6 4. 0 3.,8 4. 1 3. 5 3. 8 DECEMBER 4.,4 5. 3 7, 3 5. 9 3. 1 1. 9 3. 6 4. 0 3«.0 4. 2 3«,4 4«,1 2.,5 1.,4 3. 7 2.. 2 FEBRUARY 4«• 3 4.,6 3,.7 4..3 4«.4 3«,0 5.,8 4,,4 MARCH 6,.2 5,.1 5..1 5,>0 6,»8 ,0 64 7«,6 14 .1 APRIL 2,.1 4«• 2 3,.4 2<,4 1 .4 0,.5 2.,1 1,.8 MAY 2 .5 3«.6 4 .2 2,.8 1 .9 0,.5 2«, 8 2 .5 JUNE 2 .0 2..9 2 .8 2 .5 1 .5 0 .7 2,.0 2 .1 JULY AUGUST OR LATER 2 .6 1 .7 1 .9 2 .4 2 .9 I .6 4 ,2 2 .9 100 .0 100 .0 100 .0 100 .0 100 .0 100 .0 100 .0 100 .0 1970 JUL 30-31 1971 JANUARY TOTAL * TAX AND DIVIDEND MATURITIES) MEMORANDUM : SEPTEMBER 10 0 .7 * FRASER TOTALS MAY NOT ADD CUE TO ROUNDING. Digitized for 0 .6 0 .7 0 .7 0 .7 0 .5 0 .6 I .4 1 .2 1.4 3 .1 4 .4 2 .3 2 .1 - AND WHICH ARE TABLE 3D MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ AS OF 29 JUL 1970 CUMULATIVE PERCENTAGE $1 BILLION AND OVER CD'S MATURING IN TOTAL $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 3/ TOTAL NEW YORK CITY 1970 JUL 30-31 OUTSIDE NEW YORK CITY NON-PRIME 3.3 2.1 2.7 3.6 3.5 5.1 2.4 2.9 AUGUST 28.3 25.7 24.5 27.8 29.7 36.6 23.4 28.9 SEPTEMBER 50.0 44.5 44.7 47.7 52.6 62.3 43. 5 51.5 OCTOBER 65.4 58.0 58.9 62.9 68.6 77.2 61.7 65.6 NOVEMBER 69.0 63.0 63.5 66 . 6 71.7 80.4 64.6 69.1 DECEMBER 73. 1 68.4 68.1 70.6 75.5 84. 5 68.1 72.9 77.5 73.7 75.4 76.5 78.6 86.4 71.7 76.9 FEBRUARY 80.5 77.9 78.8 80.6 81.1 87.8 75.4 79.1 MARCH 84.8 82. 5 82.5 84.9 85.5 90.8 81.2 83.5 APRIL 91.0 87.6 87.6 89.9 92.3 96.8 88.8 90.6 MAY 93. 1 91.8 91.0 92.3 93.7 97.3 90.9 92.4 JUNE 95.6 95.4 95.2 95.1 95.6 97.8 93.7 94.9 JULY 97.6 98.3 98.0 97.6 97.1 98.5 95. 7 97.0 100.0 100.0 100. 0 100.0 100.0 100.0 100.0 100.0 1971 JANUARY AUGUST OR LATER 1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100,000 OR MORE ISSUED 9Y 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 CTHER WITHIN THE SECONDARY MARKET. SALES /1/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/ AS OF 29 JUL 1970 PERCENTAGE DISTRIBUTION TABLE 3 E SI BILLION AND OVER CD"S MATURING 1970 JUL TOTAL IN $200 MILLION AND UNDER $200 MILLION TO $500 MILLION $500 MILLION TO $1 BILLION PRIME 4/ TOTAL NEW YORK CITY OUTSIDE NEW YORK CITY NON-PRIME 30-31 AUGUST 33.6 31.0 29.1 35.4 34.3 37.7 28.6 35.9 SEPTEMBER 31.4 26. 5 31.4 27.5 32.9 33.1 32. 1 33.7 OCTOBER 22.9 20. 1 21.9 23.2 23.3 21.8 28.0 19.6 NOVEMBER C.9 0.8 0.5 0.9 1.0 1.2 1.0 0.7 DECEMBER 1.4 3.8 2.4 1.5 0.9 0.9 1.4 0.4 3.0 5.0 4.3 2.7 2.7 2.0 3. 0 3.6 FEBRUARY 0.1 0.4 0.1 0.3 0.0 0.0 0.0 0.1 MARCH 0.1 0. 5 0.0 0.2 0.0 0.0 0.0 0. 1 APRIL 0. 1 0.3 0.1 0. 1 0.1 0.1 0.1 0.1 MAY 0.1 0.3 0.1 0.2 0.1 0.0 0.1 0.3 JUNE 1.1 2. 5 2.7 1.3 0.5 0. 1 0. 9 0.9 JULY OR LATER 5.2 8. 7 7.3 6.7 4.1 3.1 4. 9 4. 8 100.0 100.0 100.0 100.0 100.0 100.0 1971 JANUARY 100.0 TOTAL * 100.0 1 U C MHO A KtHI IM • T AVAND DIVIDEND MATURITIES) 10 0.9 0.6 0.5 0.7 1.1 0.9 0.8 2.1 SEPTEMBER 15 4.2 1.6 2.4 2.0 5.4 6.9 4.4 3.8 SEPTEMBER NUMBER OF BANKS ) (MEMORANDUM: 91 256 2/ INCLUDES N CERTIF K A T E S ; ; 47 81 37 18 12 IN DENOMINATIONS OF $100,000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 0 F THE chest Q ^ I T Y REPORTED BY DEALERS TO TRADE WITHIN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. http://fraser.stlouisfed.org/ * T O T A ^ MAY NOT ADI^DUE TO R O U N D ^ G . # Federal Reserve Bank of St. Louis 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) DATE OF SURVEY BANK CLASSIFICATION 29 JUL 1970 24-JUN 1970 27 MAY 1970 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 3.5 4.3 4.3 NEW YORK CITY 2.6 3.6 3.7 CHICAGO 3.0 3.5 3.8 OTHER 3.9 4.5 4.6 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 3.9 4.2 4.2 $20C-$500 MILLION 3.9 4.5 4.5 $500-$11 000 MILLION 3.6 4.4 4.5 OVER $1 BILLION 3.3 4.2 4.3 PRIME IN NEW YORK CITY 3/ 2.6 3.6 3.7 PRIME OUTSIDE NEW YORK CITY 3/ 4.0 4.6 4.7 NON-PRIME 3.5 4.3 4.3 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 W H I C I http://fraser.stlouisfed.org/ # A R E R E P 0 R T E ( ^ Y D E A L E R S Tg^TRADE W I T H I ^ l OR 2 BASIS^POINTS OF EA^J OTHER W I T H ^ THE S E C O N D / ^ MARKET. ^ Federal Reserve Bank of St. Louis * TABLE 4B AVERAGE MATURITY OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ SOLO BY WEEKLY REPORTING BANKS DURING THE MONTH OF VARIOUS SURVEYS (IN MONTHS) 9ATE OF SURVEY BANK CLASSIFICATION 29 JUL 1970 24-JUN 1970 27 MAY 1970 (BY LOCATION) ALL REPORTING BANKS ISSUING CD'S 2.3 3.9 3.6 NEW YORK CITY 1.8 2.9 2.7 CHICAGO 2.2 2.8 3.2 OTHER 2.5 4.4 3.9 (BY SIZE OF BANK) 2/ UNDER $200 MILLION 3.0 4.3 4.3 $200-S500 MILLION 2.7 4.4 4.3 $500-$ 1» 000 MILLION 2.4 3.8 3.7 OVER 2.1 3.8 3.3 1.9 2.9 2.6 PRIME OUTSIDE NEW YORK CITY 3/ 2.3 4.5 3.5 NON-PRIME 2.2 3.9 3.7 $1 BILLION PRIME IN NEW YORK CITY 3/ 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. http://fraser.stlouisfed.org/ (glTE — S E E T E C I ^ C A L A P P E N D ^ 8. Federal Reserve Bank of St. Louis TABLE 5A RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AT VARIOUS SURVEY DATES (PER CENT) DATE OF SURVEY TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) 29 JUL 1970 24 JUN 1970 27 MAY 1970 ALL BANKS ISSUING CD' S 8.3 6.2 6.2 UNDER 200 7.9 6.7 6.9 200 - 500 f*00 6.7 6.8 500 - 1000 8.3 6.2 6.2 OVER 8.3 6.0 6.0 8.4 5.0 5.2 PRIME OUTSIDE NEW YORK 3/ 7.6 6.3 6.1 NONPRI ME 9.4 7.1 7.2 1000 PRIME IN NEW YORK 3/ 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. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS. INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. ' ,n|L,-uul^ TABLE 58 RATIO OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ TO TOTAL DEPOSITS AS OF 29 JUL 1970 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) ALL BANKS CD'S ISSUING 5% OR LESS 5 TO 10% 10 TO 15? 15 TO 20% 20 TO 25% 25% OR MORE AVERAGE CO TO DEPOSIT RATIO (PER CENT) 82 82 51 29 8 3 8.3 UNDER 200 35 28 14 9 3 1 8.0 200 - 500 25 21 19 13 2 1 8.7 500 - 1000 16 16 8 3 3 1 8.3 6 17 10 4 0 0 8.3 PRIME IN NEW YORK 3/ 0 4 3 0 0 0 8.4 PRIME OUTSIDE NEW YORK 3/ 4 4 2 2 0 0 7.6 NONPRI ME 2 9 5 2 0 0 9.4 OVER 1000 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. NOTE- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING INTERBANK AND U.S. GOVERNMENT DEPOSITS. e TABLE 5C PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 24 JUN 1970 TO 29 JUL 1970 (NUMBER OF BANKS) INCREASES OF DECLINES OF TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) REDUCED CD'S TO ZERO • ••• — — • — —— — — — — — — — 10% OR MORE 5 TO 10% -— — — — — — 5% OR LESS NO CHANGE 5% OR LESS 10% OR MORE 5 TO 10% ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE ALL BANKS ISSUING CD 1 S 3 9 0 15 11 22 28 168 2 UNDER 200 3 6 0 10 5 10 10 47 2 200 - 500 0 2 0 2 4 6 11 56 0 500 - 1000 0 1 0 3 1 3 3 36 0 OVER 1000 0 0 0 0 1 3 4 29 0 PRIME IN NEW YORK 3/ 0 0 0 0 0 0 0 7 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 3 1 8 0 NONPRIME 0 0 0 0 1 0 3 14 0 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. MOTE- 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 LAST SURVEY REDUCED THEIR OUTSTANDINGS TO ZERO ON THIS SURVEY. TABLE 50 PEH CENT CHANCE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 29 APR 1970 TO 29 JUL 1970 (NUMBER OF BANKS) TOTAL DEPOSITS /2 C1N MILLIONS OF DOLLARS) REDUCED C D ' S 25% TO OR ZERO MORE INCREASE OF DECLINES OF 10 TO 15% 15 TO 20% 20 TO 25% 5 TO 10% 5% OR LESS NO CHANGE 5% OR LESS 5 TO 10% 10 TO 15% 25% OR MORE 20 TO 25% 15 TO 20% ISSUED CD'S BUT HAD NONE OUT STANDING ON BASE DATE ALL BANKS ISSUING CD'S 4 4 2 2 5 9 11 6 13 15 20 22 17 124 UNDER 200 3 2 0 2 4 7 5 3 4 7 6 5 8 33 4 200 - 500 0 0 2 0 0 1 3 2 4 3 8 10 5 42 1 560 - 1000 1 2 0 0 0 1 1 1 2 3 2 6 1 2S 0 OVER 0 0 0 0 1 0 2 0 3 2 4 1 3 21 0 0 0 0 0 0 0 0 0 1 0 1 0 1 4 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 1 0 0 0 2 2 1 1 1 4 0 NONPRIME 0 0 0 0 0 0 2 0 0 0 2 0 1 13 0 ltOO PRIME IN NEW YORK 3/ 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. 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 56 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 24 JUN 1970 TO 29 JUL 1970 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ (IN MILLIONS OF DOLLARS) __ _ "Tt 2 I INCREASES^ 7%~~ NO "T% ch4nge ALL BANKS ISSUING C ~l s s ~ °'S 0 5 0 2 s ~ 21 11 15 5 72 43 39 63 28 14 8 16 U N D E R 200 0 3 200 " 500 0 1 0 3 4 25 13 15 20 500 " 1000 0 1 0 3 1 12 7 9 14 0 0 0 0 1 7 0 0 0 0 0 0 0 0 4 4 1 3 0 1 3 4 4 6 0VER 1000 PRIME IN NEW YORK 3/ PRIME OUTSIDE NEW YORK 3 NONPRIME / 0 0 0 0 0 0 0 9 1 7 13 2 4 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. "° TE ™ "mS.'i.n.rsES'.EjSs:;;: 0 ,N th,s ,ible ,,e tot4l ^ "«™N= TABLE 5 F CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS AT THE BEGINNING CF THE PERIOD 29 APR 1970 TO 29 JUL 1970 (NUMBER OF BANKS) TOTAL DEPOSITS 2/ ( IN MILLIONS OF DOLLARS) DECLINES OF 5% AND OVER 4 TO 5% 3 TO 4% INCREASES OF 2 TO 3% I TO 2% 1% AND LESS NO CHANGE 1% AND UNDER 1 TO 2% 2 TO 3% 3 TO 4% 4 TO 5% 5% AND OVER ALL BANKS ISSUING CD 1 S 1 0 1 0 4 29 6 51 49 32 33 12 33 UNDER 200 1 0 0 0 3 18 3 19 15 10 8 3 7 200 - 500 0 0 1 0 0 5 2 15 18 12 10 5 12 500 - 1000 0 0 0 0 I 3 I 10 10 5 5 3 9 OVER 1000 0 0 0 0 0 3 0 7 6 5 10 1 5 PRIME IN NEW YORK 3/ 0 0 0 0 0 0 0 1 1 1 3 1 0 PRIME OUTSIDE NEW YORK 3/ 0 0 0 0 0 1 0 4 2 0 3 0 2 NONPRIME 0 0 0 0 0 2 0 2 3 4 4 0 3 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. 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 6A MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUli 1970 (AMOUNTS IN MILLIONS OF DOLLARS) CD'S MATURING IN ALL DISTRICTS BOSTON 595.6 30.5 AUG 4482.4 SEP ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 62.4 8.5 9.1 3.6 40.0 85.3 143.5 578.6 70.4 47.4 67.8 267. 8 689.4 125.2 85.4 550.4 55.5 42.1 95.6 230. 7 549.9 292.9 89.4 84.6 335.8 45.4 32.0 73.6 177.9 424.0 30.5 32.2 19.7 49.4 77.7 13.6 4.2 19.5 44.3 137.3 251.1 12.1 29.6 30.5 32.0 70.3 13.6 6.5 26.4 73.4 137.0 25.4 118.1 10.3 84.6 78.6 47.8 94.5 20.2 2.8 23.3 127.4 146.3 542.0 13.8 85.5 7.2 46.3 22.8 32.7 67.5 44.3 2.5 14.9 52.9 151.6 MAR 768.9 17.0 182.3 13.8 37.7 31.3 28.6 102.5 14.1 4.2 18.9 68. 1 250.4 APR 1102.1 18.7 352.3 18.5 107.8 16.1 32. 1 121.5 19.6 6.8 25.6 73. 8 309.3 MAY 372.2 6. 4 42.8 8.1 48.7 11.8 23.9 52.1 22.5 9.9 15.9 36. 9 93.2 JUN 448.6 13.9 56.7 10.3 41.8 20.2 39.2 81.9 34.2 2.6 24.3 20.9 102.6 JUL 355.0 6.4 50.8 15.7 42.6 8.3 26.6 69.8 6.7 0.7 14.6 54.3 58.5 AUG OR LATER 457.5 21. 2 98.0 7.4 86.6 14.4 15.8 84.8 10.3 4.0 9.6 24.0 81.4 179 13.7 1139.4 5797.5 512.5 1354.7 606.2 657.7 2349.8 378.9 174.8 433.6 1292.4 3216.2 AVERAGE MATURITY IN MONTHS 2/ 3.4 2.4 2.7 2.8 4.4 3.7 4.3 3.6 4.7 2.9 4.2 3.9 4.1 NUMBER OF REPORTING BANKS 256 18 46 10 17 14 23 36 12 5 20 23 32 PHILADELPHIA CLEVELAND 274.5 22.0 30.6 13.0 16. 1 32 6.6 1797.6 154.1 214.3 124.9 3879.2 294. 2 1468.0 123.2 259.0 OCT 2758.8 283.6 840.3 79.3 NOV 644. 5 36.6 179.5 DEC 727.6 45.1 1971 JAN 779.3 FEB 1970 JUL 30-JUL 31 TOTAL * NEW YORK RICHMOND ATLANTA CHICAGO 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 2/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. http://fraser.stlouisfed.org/ # . Louis Federal Reserve Bank of St. e . # * # .s e # * e TABLE 6B 1/ 2/ SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUL 1970 (AMOUNTS IN MILLIONS OF DOLLARS) ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 323.3 36.1 38.3 43.5 149.3 400.4 35.2 351.7 31.2 35.3 69.7 137. 1 351.1 50.9 38.1 256.1 26.4 28.1 55.3 105.7 274.9 1.8 2.3 2.1 9.9 1.2 0.3 1.5 0.5 5.6 10.1 14.7 6.3 1.9 0.5 4.4 14.8 19.8 58.0 1.5 63.5 10.7 12.4 23.9 2.7 0.8 6.7 29.3 43.2 0.2 0.5 0.1 0.2 0.1 2.3 0.0 0.2 0.0 1.2 2. 5 1.6 7.4 0.0 0.4 0.2 0.3 0.0 0.8 0.1 0.6 0.0 1.1 1.5 2.4 APR 9.1 0.0 3.1 0.0 0.3 0.2 1.7 0.8 0.0 0.0 0.6 0. 4 2.0 MAY 11.2 0.0 0.9 0.0 0.2 0.3 1.2 0.6 0.0 0.0 1.1 0.7 6.2 JUN 89.1 4.7 6.2 0.6 18.7 8.1 5.2 10.3 1.3 0.2 10.0 5.6 18.2 437.0 12.2 94.9 11.8 35.6 9.9 21.7 73.9 14.9 2. 1 16.7 66. 9 76.4 8362.1 747.1 3073.7 279.1 599.8 241.9 194.4 1056.9 116.5 105.6 211.8 514.9 1220.4 2.2 1.8 2.9 2.4 3.5 2.4 3.0 1.7 3.1 3.2 2.5 ALL DISTRICTS BOSTON 1970 AUG 2807.3 259.1 SEP 2626.0 OCT CD'S MATURING IN RICHMOND ATLANTA PHILADELPHIA CLEVELAND 1175.0 119.9 124.6 78.8 59.0 230 . 2 1028.7 92.7 192.6 70.5 1916.2 223.2 652.1 49.0 156.4 NOV 78.2 1.2 29.8 2.8 DEC 117.2 14.5 24.1 1971 JAN 254.5 1.8 FEB 8.9 MAR JUL OR LATER TOTAL * AVERAGE MATURITY IN MONTHS 3/ NEW YORK 1.8 1.8 CHICAGO 1. 1 24.2 1/ SEE TECHNICAL APPENDIX A. 2/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. 3/ SEE TECHNICAL APPENDIX B. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. # # # # # # # # $ # TABLE 6C MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUL 1970 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS BOSTON 3.3 2.7 AUG 25.0 SEP NEW YORK PHILADELPHIA CLEVELAND 4.7 4.3 2.3 2.1 2.4 28.6 31.0 30.1 15.8 20.6 21.6 25.9 25.3 24.0 19.1 OCT 15.4 24.9 14.5 15.5 NOV 3.6 3.2 3.1 DEC 4.1 4.0 1971 JAN 4.4 FEB RICHMOND ATLANTA CHICAGO SAN FRAN- ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS 2.7 2.2 5.2 0.8 3. 1 21.8 24.6 18.6 27.1 15.6 20.7 21.4 20.7 13.0 23.4 14.6 24.1 22.0 17. 9 17.1 21.6 14.7 12.9 14.3 12.0 18.3 17.0 13. 8 13.2 6.0 2.4 3.2 7.5 3.3 3.6 2.4 4.5 3.4 4.3 4.3 2.4 2.2 5.0 4.9 3.0 3.6 3.7 6.1 5. 7 4.3 2.2 2.0 2.0 6.2 13.0 7.3 4.0 5.3 1.6 5.4 9.9 4.5 3.0 1.2 1.5 1.4 3.4 3.8 5.0 2.9 11.7 1.4 3.4 4.1 4.7 MAR 4.3 1.5 3.1 2.7 2.8 5.2 4.3 4.4 3.7 2.4 4.4 5.3 7.8 APR 6.2 1.6 6.1 3.6 8.0 2.7 4.9 5.2 5.2 3.9 5.9 5. 7 9.6 MAY 2.1 0.6 0.7 1.6 3.6 1.9 3.6 2.2 5.9 5.7 3. 7 2.9 2.9 J UN 2.5 1.2 1.0 2.0 3.1 3.3 6.0 3.5 9.0 1.5 5.6 1.6 3.2 JUL 2.0 0.6 0.9 3. 1 3. 1 1.4 4.0 3.0 1.8 0.4 3.4 4.2 1.8 AUG OR LATER 2.6 1.8 1.7 1.4 6.4 2.4 2.4 3.6 2.7 2.3 2.2 1.9 2.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1970 JUL 30-JUL 31 - TOTAL * 1/ INCLUDES ONLY CERTIFICATES ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY WEEKLY REPORTING BANKS. http://fraser.stlouisfed.org/ s e St. Louis Federal Reserve Bank of e • I s • * # # 2.7 TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS BY FEDERAL RESERVE DISTRICT AS OF 29 JUL 1970 (CUMULATIVE PERCENTAGE) CD'S MATURING IN 1970 JUL 30 -JUL 31 ALL DISTR ICTS 3.3 BOSTON 2. 7 NEW YORK PHI LADELPHI A CLEVELAND 4.7 4.3 2.3 2.1 2.4 RICHMOND ATLANTA CHICAGO ST. LOUIS MINNEAPOLIS KANSAS CITY 2.7 2.2 5.2 0. 8 3. 1 2.7 DALLAS FRANCISCO AUG 28.3 31.3 35.7 34.4 18.1 22.7 24.2 27.3 20.8 32.3 16.4 23. 8 24.1 SEP 49.9 57.2 61.0 58.4 37.2 43.4 37.2 50.7 35.4 56.4 38.4 41. 7 41.2 OCT 65.3 82.1 75.5 73.9 58.8 58.1 50. 1 65.0 47.4 74.7 55.4 55. 5 54.4 NOV 68.9 85.3 78.6 79.9 61.2 61.3 57.6 68.3 51.0 77.1 59.9 58. 9 58.7 DEC 73.0 89.3 82.9 82*3 63.4 66.3 62.5 71.3 54.6 80.8 66.0 64. 6 63.0 1971 JAN 77.4 91.5 84.9 84.3 69.6 79.3 69.8 75.3 59.9 82.4 71.4 74.5 67.5 FEB 80.4 92. 7 86.4 85.7 73.0 83.1 74.8 78.2 71.6 83.8 74. 8 78.6 72.2 MAR 84.7 94.2 89.5 88.4 75.8 88.3 79.1 82.6 75.3 86.2 79.2 83. 9 80.0 APR 90.9 95.8 95.6 92.0 83.8 91.0 84.0 87.8 80.5 90.1 85.1 89.6 89.6 MAY 93.0 96.4 96.3 93.6 87.4 92.9 87.6 90.0 86.4 95.8 88. 8 92. 5 92.5 J UN 95.5 97.6 97.3 95.6 90.5 96.2 93.6 93.5 95.4 97. 3 94.4 94. 1 95.7 JUL 97.5 98.2 98.2 98.7 93.6 97.6 97.6 96.5 97.2 97.7 97. 8 98.3 97.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100. 0 100.0 AUG OR LATER 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 29 JUL 1970 (PERCENTAGE DISTRIBUTION) CD'S MATURING IN ALL DISTRICTS BOSTON 1970 AUG 33.6 34. 7 SEP 31.4 OCT ST. LOUIS MINNEAPOLIS KANSAS CITY DALLAS SAN FRANCISCO 30.6 31.0 36.3 20.5 29. 0 32.8 18. 1 33.3 26.8 33.4 32.9 26.6 28.8 21.0 19.6 24.2 22.7 26.6 26.1 20.5 22.5 0.3 1.0 1.1 0.9 1.0 0.3 0. 7 0.2 2.0 0.2 0.9 4.2 7.6 0.6 1.6 0.5 2.1 2.9 1.6 1.9 0.5 10.6 4.4 6.4 2.3 2.3 0.8 3.2 5.7 3.5 0.0 0.0 0.0 0.0 0.0 1.2 0.0 0.2 0.0 0.6 0. 5 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.4 0.0 0.5 0.0 0.5 0.3 0.2 APR 0.1 0.0 0.1 0.0 0.1 0.1 0.9 0.1 0.0 0.0 0.3 0. 1 0.2 MAY 0.1 0. 0 0.0 0.0 0.0 0.1 0.6 0.1 0.0 0.0 0. 5 0.1 0.5 JUN 1.1 0.6 0.2 0.2 3.1 3.3 2.7 1.0 1.1 0.2 4.7 1. 1 1.5 JUL OR LATER 5.2 1.6 3. 1 4.2 5.9 4.1 11.2 7.0 12.8 2.0 7.9 13.0 6.3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 PHILADELPHIA CLEVELAND 38.2 43.0 20.8 32.6 30.3 30.8 33.4 33.2 32.1 29.1 22.9 29.8 21.3 17.6 26.1 NOV 0.9 0.2 1.0 1.0 DEC 1.4 1.9 0.8 1971 JAN 3.0 0.2 FEB 0.1 MAR TOTAL * NEW YORK 100.0 RICHMOND ATLANTA CHICAGO 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 THAT HAVE MATURED. * DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING. 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 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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