l41_19750722.pdf

July 22, 1975 L.4.1 CONFIDENTIAL (FR)

SURVEY OF MATURITY STRUCTURE OF OUTSTANDING LARGE DENOMINATION CERTIFICATES OF

DEPOSITS AT LARGE WEEKLY REPORTING BANKS

as of June 25, 1975

Banking Section Division of Research and Statistics

Board of Governors of the Federal Reserve System

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE 1

MATURITY DISTRIBUTION IF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF 1/

DEPOSIT AT WEEKLY REPORTING BANKS

AS PF 25 JUN 1975

MATURING IN AMOUNT

(MILLIONS OF DOLLARS 1

PERCENTAGE DISTRIBUTION

CUMULATIVE PERCENTAGE

SALES SINCE PREVIOUS MONTH 2/

(MILLIONS OF DOLLARS)

JUNE 26 * 33 5*466.8 6.7 o.7 .0 JULY 27,*84,3 34.0 40.7 10,672.5 AUGUST 13,'35.2 16.8 57.5 3,472.3 SEPIfMfcER 9,

TABLE cA 1 /

MATURITY 0IS1H16UT10N JF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK C H Y , CHICAGO, AND ALL OTHER WEEKLY REPORTING BANKS

AS OF 25 JUN 1975 U N MILLIONS OF DOLLARS)

NEW YORK CITY CHICAGO ALL OTHER WEEKLY REPORTING BANKS

CO*S MATURING IN AMOUNT SALES SINCE PREVIOUS "ONTH 2/

AMOUNT SALES SINCE PREVIOUS MONTH 2/

AMOUNT SALES SINCE PREVIOUS MONTH 2 ^

%975 JUN > - JUH ij .1' 435,2 .0 3,369.6 .0

JULY 3,509.3 1,256.1 15,5 70.4 6,855.2

AUGUST *,9?*.I 1,174.4 1,357.3 454.2 7,403.5 1,843.5 SE3*TEMt-Ek 1,397.9 690.1 317.1 5,456.0 2,100.3 OCTOBER & * 4 h & .4 SE4.2 542.1 8?.6 3,285.2 561.3 MOVE $#t* 2.1)1.4 2C7.0 256.7 19. C 2,217.6 247.3 DttfMfER t y - 1. fc 1,1*0.2 152.1 57,6 2,1C9.4 1,141.2 JANUARY i*d. t 124.6 537.9 64.4 1,195.1 156.0 FEBRUARY ft*.i 62.2 415.4 28.2 1,032.6 51.6 M*kC* 174.7 P5.0 212.2 2V.4 937.2 149.9 APklL 113.4 3.9 101.t 10.3 613.1 61.4 MAY t>,4 B.5 1*4.6 3b.5 6&0.7 87.b JUNE ill.? 23*.* /2 301.1 274.5 /3 507.5 567.4 /3 OV*R 12 MfNT*4S *Cb.e *%% 112.9 XXX 1,101.8 XXX

TOTAL 27.71E.B 7,6l4.E 6,760.7 2,725.1 45,439.6 13,842.6 NUMBER OF REPCRTINT BANKS 12 12 221

(MEMORANDUM: TAX AND DIVIDEND MATURITIES) SEPTEMBER 10 SEFTF*ET# IS 435.*

42.9 59.9

376.0 618.3

1/ INCLUDES ONLY Cf*TI* K a U S IN DENOMINATION 0 s $100,00(1 OR MOKE ISSUED BY WEEKLY KE PORTING BANKS. APPtNl IX A.

/ if CL* * *A#UI\f * 1 1 1 3 MONTHS. ^ TOTALS #"AY Nu: Al l ru$- IB kLUNDlNG. Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE 2b 1/

MATURITY DISTRIBUTION UF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT AT NEW YORK CITY, CHICAGO# AND A U OTHER WEEKLY REPORTING BANKS

AS OF 25 JUN 1975 AND 2P MAY 197 5 1PERCENTAGE DISTRIBUTION!

CO*S MATURING IN NEW YORK CITY CHICAGO ALL OTHER

CO*S MATURING IN 25 J UN 26 MAY 25 JUN 28 MAY 25 JUN 28 MAY

L-F DAYS

TABLE 2C 1/

HATllHIIV DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT A7 NEW YORK CITY, CHICAGO, AND ALL OTHER WEEKLY REPORTING fcANKS

AS OF 25 JUN 1975 AND 26 MAY 1975 (CUMULATIVE DISTRIBUTION)

NEW v IRK CITY CHICAGO ALL OTHER 25 JUN 28 MAY 25 JUN 26 MAY 25 JUN 28 MAY

L-tC'AVSZ/ t.C 4.4 S.C 4.1 7.4 4.0 Y! M D M H S ?/ 37.6 35.0 45.0 34.6 41.7 39.3

V*. MONTHS 55.7 57.0 62.5 TO.8 68.C 58.0

T A H MATUR11Y DISTRIBUTION IF DISTANCING Nt GOT I ABLE TIME CERTIFICATES OF DEPOSIT 1/ AT WEEKLY REPORTING BANKS bY SIZE OF BANKS 2/

AS OF 25 JUN 1975 (AMOUNTS IN MILLIONS OF COLLARS)

$1 BILLION AND OVER

S20C S200 MILLION $500 MILLION PRIME 3/ CD'S MAIURIMC* IN TOTAL MILL10K TO TO

AND UNDER 1500 MILLION SI BILLION TOTAL OUTSIDE NON-PRIME NEW YORK NEW YORK CITY CITY

1475 JUN 5 ,

TABLE 36 SALES /I/ OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ A1 WEEKLY REPORTING BANKS 6Y SIZE OF BANKS 3/

AS OF 25 JUN 1975 (AMOUNTS IN MILLIONS OF DOLLARS)

$1 BILLION AND OVER $203

CD'S MATURING IN TOTAL MlLtl-N AND UN-fcR

1975 JUN 26-2C JULY 10,472.6 67;-..t 1,349.3 1,553.5 7,091.8 2,380.9 3,537.4 1,173.5 AUGUST 3,472.3 17 .4 402.7 556.3 2,339.9 1,125.2 914.5 300.2 SEPTEMBER 2,315.3 21,.6 521.2 566.3 2,512.2 1,359.7 877.6 274.9 CCIOIcR 1,2:8.3 3*>.l 1C1.4 142.5 949.3 514.6 257.7 176.8 NnvEMbfS 473.4 1^,3 55,7 49.2 352.2 194.2 108.9 49.1 DtCEMPER 2,349.1 6b.5 217.2 242.9 1,600.4 1,107.2 423.1 270.1 JANUARY 345.C >.5 29.1 49.5 262.9 123.0 105.7 34.2 FtDRUAKY 162.2 *.1 5.C 12.0 1*0.1 61.8 51.9 6 .4 MARCk APK%L

2 5! .2 75.7

b.7

1 .4

2C.t 8.4

23.1 2.9

204.1 63.0

80.6 3.9

92.7 49 .9

30.8 ^ P . 2

w,A Y i:-.5 .2 7.7 20.4 102.1 7.6 71.3 24.2 JUNE OR LATER J.Zcl.L 4 57.6 116.0 981.1 222.7 616.7 141.7

TOTAL $

TABLE- MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ At WEEKLY REPORTING BANKS BY SIZE OF BANKS 2/ *S OF ?5 JUN 1475

PERCENTAGE DISTRIBUTION

CD'S MATURING IN TOTAL $200

MILLION AND UNOER

S2C0 MILLION ?0

$50C MILLION S5GC MILLION

TO SI MILLION TOTAL

$1 BILLION AND OVER PRIME 3/

OUTSIDE NEW YORK NEW YORK

CITY CITY NON-PRIME

1*75 JUN 2c-3C 6.7 9.C 9.1 8.6 5,8 5.8 4.9 8.3 JULY ?*.L 36.3 56 .2 34.9 33.3 31.7 33.9 36,8 AUGUST 16.8 17.0 17.1 16.5 16.S 18.2 16.2 13.8

SEPTFMTFR 12.1 12.3 13.* 12.2 11.9 o c 10 ,9 OCTOBER 7.7 4.4 6,1 7.5 8.2 8.9 7.4 NOVEMBER 5.7 2.9 4.9 5.5 5V 7.9 4.4 # DECEMBER 3.6 4.1 4.3 4.8 5.6 3.8 5.7

1076 JANUARY 2.u 1.6 2.0 2.3 3.4 2.6 4.2 3.4 FEBRUARY 2.1 1.3 1.5 1.7 2.4 1.1 3.9 1.6 MARCH 1,< l.S 1.3 1.4 1.7 0.6 2.9 1.7 AP*IL l.C 1.5 0.9 0.8 1 #0 0.5 1.8 0.8 MAY 1.1 1.2 0.9 l.S l.G 0.2 1.7 1.3 JUNE 1.1 1.3 U.B 1.0 1.2 0.4 1.9 1.6 JULY OR LAtfcR 2*5 2.2 1,1 1.8 2.8 2.8 3.0 2.0 TOTAL * 10C.C 100.L 100.0 100.0 10C.0 100 .0 100.G 100.0

f lino A ftlftf IM * T A V A fk|T| A U 1 V iUCiiu HM ivrSl > A C v 1 w

SEPTfM*ER 10 0.6 0.9 0.7 1.0 0.6 0.9 0.7 1.1 SEPTEMBER 15 1.6 L.C 1.2 1.5 1.7 1.6 1.9 1.3

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $100*000 OR MORE ISSUED BY WEEKLY REPORTING BANKS, 2/ TOIAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965, 3/ pa, IMF 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 i BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET, * TOTALS MAY NOT ADD DUE TO ROUNDING.


T*Ht m HA1U* lt OISilieUTlON II QUI STAND INC NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ AT llEfeKiY REPORTING BANKS *Y SIZE UF BANKS 2/

AS OF 2? JUN 1475 CUMULATIVE PERCENTAGE

$1 BILLION AND i OVER *200 $200 MILLION $500 MILLION PRIME 3/

CD'S WATU^INO IN 1L1AL MltLlOf. TO TO AND UNO! P 1500 MILLION $1 EILLION TOTAL OUTSIDE NON-PRIME NEW YORK NEW YORK

CITY CITY 1475 JUN t.T 4.4 9.1 6.e 5.8 5.8 4.9 6.3

JULY 40*7 46.2 45.3 43.5 39.1 37.5 38.6 45.1 AUGUST !>7,6 (5.2 62.4 60.0 55.9 55.7 55.0 00 ir\

t 77,f- 76.3 72*2 67.6 69.6 65.G 69.8 netmfK 77.? **.t 82.4 79.7 76.C 78.5 72.4 77.9 \OVEMFt* 6;.U 85 .6 97.3 6*5,2 SI.9 86.4 76.6 81.9 DELEKStR t7.t 69 .4 41.4 54.f 66.1 92.0 60. 6 67.6

147( JANUARY 91.0 43.4 41.6 90.1 94.6 84.6 91.0 tfft(A*Y *2.7 s2.3 43.5 42.5 95.7 66.7 92.6 MAKCH

tAtii at SALti /t/ fF ^LGUTlA^Lt TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH 2/ AT WEEKLY REPORTING BANKS BY SIZE OF BANKS 3/

AS OF 25 JUN 197S PERCENTAGE DISTRIBUTION

SI BILLION AND OVER 12 GO $200 MILLION S5CC MILLION PRIME 4/

CD'S MAlUAINt IN TOTAL MILLION TO TO AND UNDER $900 MILLION SI PILLION TOTAL OUTSIDE NON-PRIME

NEW YORK NEW YORK CITY CITY

147*^ JUN ft-it 4U1Y *4.1 *3.) 46.6 46.6 42.2 33.1 49.8 47.1 AUGU&1 14.4, 13.6 14.5 16.7 13.9 15.6 12.9 12.1

&>.& U . 9 ie.e 17.0 15.0 16.9 12.3 11.0 neiobtt S.I 2ei 3.7 4.3 5.7 7.1 3.6 7 # **LlW * M r 2.G 1.3 2.C 1.5 2.1 2.7 1.5 2.0

C 1 + 47 7 0 7.6 7.3 10.7 15.4 6.0 10.8 :97t J A W A R V 1.4 0.3 l.G 1.5 1.6 1.7 1.5 1.4

1.7 0.4 0.2 0.4 0.6 1.1 0.7 0.3 1.1 0.5 C.7 0.7 1.2 1.1 1.3 1.2

AP*#l t.J O.I 0.3 0.1 0.4 0.1 0.7 0.4 WAV u.c 0.3 0.3 0.6 G *6 0.1 1.0 1.0 JUNi nt i n * * !. 3.6 2.1 3.5 5.8 3.1 8.7 5.7

TllAl * 100.0 10C.O IGG.C 100.0 100. G 100.0 100.G 100.0 1 Mf- Nn&ilufil IM MtlMbCD rL ftAkiH t 1 1 fTC UUW IIUnOCK U r 1

24t 62 77 5C 37 7 12 18

1/ Sff I I C ^ K A t APFENLI* A, ?/ IlKHIlKt t m U F K A l l S IN DENOMINATIONS OF S10C.000 OR MORE ISSUED BY WEEKLY REPORTING BANKS. 1/ Kit#I Ai HlfORlEf IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. */ PMim iHlltf WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND WHICH ARE

MiMvt- i * * v :**&LtR& 1C IRADE WITHIN I OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. # Ai( TO FOUNDING.


TABLE 4A AVERAGE MATURITY

* , OUTSTANDING NEGOTIABLE T I M CERTIFICATES OF DEPOSIT 1/

AT WEEKLY REPORTING BANKS AT VARIOUS SURVEY DATES

U N MONTHS I

DATE OF SURVEY HANK CLASSIFICATION *

TABLE

AVERAGE MATURITY

OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/

SOLO BY WEEKLY REPORTING BANKS FWRING THE MONTH OF VARIOUS SURVEYS

(IN MONTHS)

LATE OF SURVEY BANK CLASSIFICATII*N

25 JUN 1975 28 MAY 1975 30 APR 1975 IBY LOCATION)

ALL REPORTINC BANKS ISSUING CD'S 2.7 2.6 2.3

NEW YORK CITY 2.9 3,0 2.5 CHICAGO 3,3 2,3 2.1 OLMFFC 2.5 2,5 2.1

(BY SIZE OF BANK) 2/

UNDER S200 MILLION 2.1 1.9 1,8 S200-S500 MILLION 2,2 2.0 1.9 S$00-SL,000 MILLION 2.3 2.4 2.0 OVER SI BILLION 2.9 2.9 2.4

PRIME IN NEW YORK CITY 3/ 2.9 3.0 2,6 PRIME OUTSIDE NEW YORK CITY 3/ 2.9 3,0 2.4 NGN-PRIME 2,8 2.1 1,8

1/ INCLUDES CERTIFICATES IN DENOMINATIONS CP $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, N O T F S F E TECWIXCAL APPENDIX B.


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/

U N MILLIONS OF COLLARS) 25 JUN 197b 26 MAY 1975 30 APR 1975

ALL BANKS ISSUING CD'S o

! a 23.3 23.4

UNOE POO 14.5 15.4 15.0 2CO - SCO 1E.1 18.6 16.4 *CG - 1 vCC# 18.1 18.7 17.8 OVER IvOL 26.3 26.5 26.6 PRlMc IN NEW YORK 3/ 30.1 31.0 31.4

PRIME OUTSIDE NEW YORK 2/ 25.4 24.7 25.0 NONPRIME 20.1 20.9 21.0

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF UCCtOuO 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 NEGOTIMLE CERTIFICATES OF DEPOSIT ARE REGARDED AS BEING OF THE HIGHEST QUALITY AND

WHICH ARE REPORTED BY DEALERS TO TFfDE WlTHlN 1 OR 2 BASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET. Tk- DEPOSITS IN THE DENOMINATOR OF THE RATIO IN THIS TABLE ARE TOTAL dEMAND AND TIME DEPOSITS, INCLUDING

INTERBANK AND U.S. GOVERNMENT DHOSITS.


TABLE 5E RATIO OF OUTSIANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/

TO TOTAL DEPOSITS AS OF 25 JUN 1975

(NUMBER OF BANKS)

TOTAL DfcPuiITS 2/ I1N MILLIONS OF DOLLARS 1

5* OR

LESS 5 TO lOt

10 TO 15%

15 TO 10%

20 TO

25% 25% OR

MORE AVERAGE CD TO DEPOSIT

RATIO (PER CENT)

ALL tANKS ISSUING CD'S 37 21 5C 40 39 59 23.C

UNDER 200 12 11 28 11 9 11 14.5 200 - *00 14 7 11 12 13 20 CD

*L'C - ICOC 9 2 t 10 1C 13 18.1 OVE 1000 2 1 5 7 7 15 26.3

PRIME IN NEw YORK 3/ 0 0 0 1 1 5 30.1 PRIME OUTSIDE NEW YORK 3/ C 0 0 4 3 5 25.4 NCNPRIME 2 1 5 2 5 20.1

1/ INCLUDES CERTIFICATES IN DENOMINATIONS OF S1GC,CCC OR MORE ISSUED BY WEEKLY REPORTING BANKS . 2/ TOTAL DEPOSITS AS REPORTED IN THE CALL REPORT OF CONDITION ON DECEMBER 31, 1965. hf PRIME fANKS ARE IMCSE 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 5C

PER CENT CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATE OF DEPOSIT /I 26 MAY 3975 TO 25 JUN 1975

(NUMBER OF BANKS)

TOTAL DEH3SHS 2/ t IN MILLION* If H I L A R S )

DECLINES OF RERLUCE I* * CD'S 1C LOT OR 5 TO %% OR ZERO MORE 10* LESS

NO CHANGE

INCREASES OF ISSUED CD'S BUT 5% OR 5 TO 10% OR HAD NONE OUTSTAND-LESS 10% MORE ING ON BASE DATE

ALL %ANKI :

TABLE SD

Pfk IfHI CHANGE IN GUTSTANDING NEGOTIABLE TIMF CERTIFICATE OF DEPOSIT /I 2< MAR 1475 TO 2b JUN 1475

(NUM6EP OF LANKS)

*r*61 WPOSITS /% U N MILLIONS OP LOLLARD*

*ecu-CiC CD'S ,9* 10 Ok

Itfco MORE

ff LINES OF 20 TO

2*Z

15 10

G.% 10 10 1S%

B TO 10%

5% OR LESS

NO CHANGE

INCREASE OF b% b 10 15 20 25% OR TO TO TO TO OR

LESS ICS 15% 20% 25% MORE

ISSUED CD'S BUT HAD NONE OUTSTANDING ON BASE DATE

*LL IRVING 1 29 17 it 33 *1 29 5 20 15 6 7 6 8 2

UNDER 2U0 0 IC 4 Q 13 13 1 7 6 3 1 0 5 1 200 - bJL 1 6 11 5 H 11

T A M E 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 28 MAY 1975 TO 25 JUN 1975

(NUMBER OF BANKS )

TOTAL DEPOSITS ?/ DEC LINES OF INCREASES OF *:N MILLION! OF DCLlA*SI 3% 2 1 IS NO 1% I 2 3%

AND TO TO AND CHANGE AND TO TO AND OVER 3% IX LESS LESS 2% 3% OVER

ALL SA\KS ISSUING C C S 21 24 54 Eft 9 29 11 2 6

UNDt% CCD ICC * w *3C - :COG QVfcf". luiiv

IN NEW YLK< 1/ #RlMt OUTtlOt *4tW VL&K S/ NCNtaiPc

If I *iL Ll't tL CERTIFICATES IN DENOMINA IONS OF SlCC,eCC OR MORE: ISSUED 6V WEEKLY REPORTING BANKS. 2/ WOtAL I f m j n AS kFPORTit IN T H CALL REPORT OF CONDITION ON DECEMBER 31 , 19C5. *V -KlME tANkl ARE THCSB WHOSE NEGOTIABLE CERTIFICATES OF DEPOSIT ARt REGARD tL> AS BEING OF THE HIGHEST QUALITY AND

WHICH ARC RPC*HD fcY DEALERS TO 'kADL WITHIN 1 OR 2 6ASIS POINTS OF EACH OTHER WITHIN THE SECONDARY MARKET NOT?- rt PUS IT L IN THr DENOMINATOR uF THE RATIO IN THIS TABLE ARE TOTAL DEMAND AND TIME DEPOSITS, INCLUDING

INTERBANK AND U.S. GOVERNMENT DEPOSITS.

10 3

17 It

22 s 2

31

26 22

1 2

t

9 11

5


TABLE 5F

CHANGE IN OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/ OVER THE LAST THREE MONTHS AS A PER CENT OF TOTAL DEPOSITS

AT THE BEGINNING OF THE PERIOD

26 MAR 1975 TO 25 JUN 1975

TNUMBER OF BANKS)

TOTAL RTPOT I ? S < / DECLINES OF INCREASES OF

U N MILL IONS VF DOLLARS# 5% 4 3 2 1 It NO 1% 1 2 3 4 5% AND TO TO TO TO AND CHANGE AND TO TO TO TO AND UVER % 4% 3% 2% LESS UNDER 2% 3% 4% 5% OVER

ALL BANKS ISSUING CD'S 17 16 26 29 50 38 5 28 16 8 4 1 6

UNDER 2OC 5 3 4 10 16 16 1 9 6 3 0 0 3

200 - 500 t 5 9 6 16 1C 4 9 4 2 3 1 1

SCO - 10GQ I 4 5 5 13 5 0 8 4 3 0 0 2

OVER 1000 5 4 3 8 5 7 0 2 2 0 1 0 0

PRIME IN NEW YORK 3/ 1 1 2 0 1 1 0 0 1 0 0 0 0

PRIME OUTSIDE NEW YORK ?/ 3 0 1 3 1 2 0 1 0 0 1 0 0

NONPRI ME 1 3 0 5 3 4 0 1 1 0 0 0 0

3/ INCLUDES CERTIFICATES IN DENOMINATIONS OF $1CC,00C 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 NEGOTIAELE 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.

NUT6- 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 CF 25 JUN 1975

(AMOUNTS IN MILLIONS OF DOLLARS )

CD'S MATURING IN ALL SAN DIS-

TRICTS BOSTON Nt W YC RK

PHILA-DELPHIA

CLEVE-LAND

RICH-MOND ATLANTA

CHI-CAGO

ST. LOUIS

MINNE-APOLIS

KANSAS CITY DALLAS

FRANA C I S *

19?5 JUN 26-JUN SO 5466.7 273.9 19 6.9 224.5 326.2 203.0 216.5 633.5 75.1 37.1 113.9 362.7 853.4

JUL 276*3.0 116%.9 97*3.2 1292.0 1306.7 767.7 1127.6 4540.3 361.6 238.3 635.3 1546.4 5085.0

AUG 13735.0 643.6 53-7.6 534.e 672.9 417. ( 571.1 1932.6 157.6 106.2 302.6 65 6.6 2 590.3

SEP *941.6 252.5 4C.5.8 399.5 427.7 305.0 4C0t 112v.4 125.5 67.0 246.7 523.6 1927.1

CCT 6 30*.7 254.6 25 9.3 273.0 154.5 260.6 665 . 6 51.6 64.4 83.1 251.0 1149.6

NOV 4645.2 1*7.7 22>3.8 113.9 lot.2 87.C 211.2 439.0 31.9 41.6 66.2 223.6 815.9

DEC J 793.4 1C3.1 16,3.4 136.5 161.1 107.3 176.9 297.0 71.6 26.5 62.5 168.2 805.3

19?t JAN 2^4.6 61. 1 7^4.3 *2.2 95.1 36.1 94.7 569. 1 25.4 27.2 23.2 98.1 546.3

FEB 1743.9 52.6 3^9.3 29,7 17 . 5 22.6 59.1 454.5 17.7 32.4 27.1 57.0 614.2

MAR 1325.3 c5 4 1-0.3 43.7 102.2 20.3 37.6 245.2 14.3 9.9 30.2 62.6 503.4

APR i37.6 65.4 1^0.2 10.9 64.9

TABLE 66 1 / 2 /

SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS

BY FEDERAL RESERVE DISTRICT AS OF 25 JUN 1975

(AMOUNTS IN MILLIONS OF DOLLARS)

CD'S MATURING IN ALL DIS-

TRICTS BOSTON NEW YORK

PHILA-DELPHIA

CLEVE-LAND

RICH-MOND ATLANTA

CHI-CAGO

ST. LOUIS

MINNE-APOLIS

KANSAS CITY DALLAS

SAN FRAN-CISCO

1975 JUL 1 it 71 .2 462.0 3082.4 592.4 428.4 275.6 445.5 1605.1 16C.C 146.9 260.0 601.1 2591.1 AUG ?47.M 154.1 1318.2 178.0 134.9 13Q.2 142.6 612.4 52.9 21.6 74.4 141.3 492.4 SEP 3815.4 146.6 1553.1 136.2 118.4 97.8 165.U 5C8.9 5C.7 18.9 137.0 228.8 652.0

OCT 122b.1 45,9 61C.6 67 . 3L.7 26.9 54.6 143.3 3.4 10.3 22.5 26.4 i 7 ? i

NOV 473.5 6.1 214.3 28.3 10.7 9.5 24.4 56.4 2.5 0.9 10.0 15.2 86.2 DEC 35.2 1197.7 103.1 88.6 66.8 126.9 151.6 32.1 13.0 37.5 114.9 381.5

1976 JAN 244.9 7. 9 126.5 IP.4 9.0 6.3 28.4 91.6 3.8 2.4 1.4 15.8 31.4 FEE 162.2 2.E 65.6 2.5 7.6 0.9 2.0 35.7 2.2 0.1 1.5 2.7 18.6 MAR 255.1 4.5 65.6 2.1 38.3 2.9 7.2 27.6 2.6 1.5 3.2 6.4 70.2 APR 76.8 O.C 7.6 0.6 9.7 0.5 2.3 14.8 0.1 0.2 0.7 2.4 37.7 MAY 124.3 7.C 10.0 5.8 11.0 3.5 4.0 39.0 1.2 4.9 2.6 11.1 34.2 JUN OR LATTK I 4.00. t 31. 248.6 81.C, 51.1 47.1 32.0 387. C 12.5 3.2 19.0 28.6 257.8

TOTAL *

T*BLE 6C MA1UR1TY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/


AS OF 25 JUN 1975 (PERCENTAGE DISTRIBUTION)

CD'5 MATURING IN ALL CIS- NEW PHILA- CLBV6- RICH- LHI- ST * MINNE- KANSAS

SAN A FRAN I TklCTS FOSTON YORK DFLPHIA LAND MONO ATLANTA CAGO LOUIS APOLIS CITY DALLAS CISC J

JUN 26-JUN 30 I ml 8.0 6.5 6.7 6.0 9.1 6.5 7.0 7.5 5.4 6.8 6.7 5.3 JUL 34.C 3*.9 32.7 38.5 32.0 34.3 33.7 38.0 36.1 35.0 38.0 36.9 31.7 AUG it.e IB.9 17. 15.9 14.C 18.6 17.1 15.3 15.7 15.6 18.1 15.7 16.2 SEP U.l 13.3 13. 11.9 10.5 13.6 12.0 9.4 12.5 9.8 14.8 12.5 12.0

7.7 7.c B.' S.l 7.9 6.9 7.6 7.2 5.2 9.5 5.0 6.0 7.2 NCV ^.7 N.e 7 < 3.4 *.6 3.9 6.3 3.7 1.2 6.1 4.0 5.3 5.1

3.0 5.3 5.6 3.9 4.8 5.3 2.5 7.2 4.2 3.7 4.5 5.0 1.^ 2 2.7 2.3 1.7 2.6 4.9 2.5 4.0 1.4 2.3 3.4

i 1.^ 1.0 0.9 1.7 l.L 1.6 3.6 1.6 4.6 1.6 1.4 3.8 I * ( 1.^ L.i 1.3 2.5 0.9 1.1 2.1 1.4 1.5 1.8 1.5 3 - k

A Pi- * c 1.** C.* 0.3 1.6 0.9 0.8 1.0 1.2 0.7 1.1 1.3 l.P *4 AY &. & 1*1 0.. 0.5 C.6* 1.5 1.5 1.4 l.U 1.4 1.2 2.4 1.9 JU\ :. i O . M 2.0 1.4 1.0 1.2 2.6 1.1 0.6 1.2 0.7 1.3

Ut L*l,t 2.1 2.2 6.6 1.7 2.1 1.1 3.5 1.5 1.4 0.8 2.0 # ilVet ILV.v luv.( 100.0 loc.t 10C.C 100.0 100.C 100.0 100.0 100.0 100.0 100.0

1/ IMlUO* S ONLY CtfrlH ICA't: ISSUED IN PENOMINATIONS OF $lUt*G6& OR MORE BY WEEKLY REPORTING BANKS.


TABLE 60 MATURITY DISTRIBUTION OF OUTSTANDING NEGOTIABLE TIME CERTIFICATES OF DEPOSIT 1/


AS OF 25 JUN 1975 (CUMULATIVE PERCENTAGE)

RD*S MATURING IN ALL

19 7* JUN 16-JUN 3

DIS-TRICTS

0 e.7 BOSTON

8.(

NEW FHTLA-YORK CELPH1A

6.5 6.7

CLEVE-LAND

6.0

RICH-MOND

9.1

ATLANTA

6.5

CHI-CAGO

7.0

ST. LOUIS

7.5

MINNE-APOLIS

5.4

KANSAS CITY

6.8

DALLAS

6.7 JUL "C.7 *2.9 2*.2 4

TABLE 6E 1/ 2/

SALES OF NEGOTIABLE TIME CERTIFICATES OF DEPOSIT SINCE PREVIOUS MONTH WEEKLY REPORTING BANKS

BY FEDERAL RESERVE DISTRICT AS OF 25 JUN 1976

IPERCENTAGt DISTRIBUTION)

CD'S MATUKIM, IN ALL D1S-

TRILTS er;TON NEW YORK

PHILA-DELPHIA

CLEVE-LAND

RICH-MOND ATLANTA

CHI-CAGO

ST. LOUIS

MINNE-APOLIS

KANSAS CITY DALLAS

S/9 FRAN-CISCO

JUL 44.1 SC.9 36.1 43.7 45.3 40.7 43.V 43.7 49.2 62.8 47.5 50.2 53.6 AUL 14.4 17.0 If.4 14*6 14.3 20. 5 13.6 16.7 16.3 13.5 12.6 11.8 10.2

:S.A It.4 18.2 11.2 12.5 14.4 15.9 13.8 15.6 8.1 23.2 19.1 13.5 OCT *.i 5.1 7.1 5.6 4.1 4.0 5.3 3.9 1.0 4.4 3.6 2.2 3 7 NOV 2.C 0.9 2.6 2.3 1.1 1.4 2.4 1.6 0.8 0.4 1.7 1.3 - -DEC

^bilCAL APPENDIX. A ^

PERU/ATI' 0I-- GROSS SALES OF CEHTIFICATES 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 current survey,

and combines sales of CD's maturing in twelve or more months, Some sales

are also lost by the method described above. 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

deposit* uudet curlent temulations 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 out-

standings 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 ax\d 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.


# Tech; lea 1 Note B f - ,it Imied)

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 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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