Texas renewed ten points less of its maturing money than usual today, and it is the twelve-month deposits

Texas renewed 62% vs 72% ▾ of the deposit money that matured there today, the only state outside its own level and the largest maturing block on the page. The five other states with money maturing renewed 73% vs 72% ▾ between them, every one at or above its own. Each state is read against the share it renews on an ordinary session, not against a single network figure.

Texas held inside its own band on every session before this one and left it this session at 62% vs 72% ▾. Yesterday it closed at 66% vs 69% ▾, already under the floor. The five other states ran level through all six sessions, so nothing in the day itself explains it.

Money maturing out of twelve-month deposits was renewed at 54% vs 72% ▾, eighteen points under what that tenure usually returns. Six-month money came back at 70% vs 72% ▾ and three-month or shorter at 69% vs 72% ▾, both within a few points of their own. In dollars the twelve-month block left $16.6M vs $10.1M ▾ unrenewed against $28.1M vs $20.7M ▾ for the state as a whole, so one tenure carries almost all of it.

Maturity-driven outflow reached $103M vs $74M ▾ today and net funding closed at −$41M vs −$12M ▾. Texas left $28.1M vs $20.7M ▾ of maturing principal unrenewed, the largest single block inside that outflow. The premature-break rate did not move at all, which is what keeps the money reachable. It reached its date and was not rolled rather than being broken out early. What none of these readings says is why the twelve-month holders in that state declined.