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FEDERAL oj GOV/. istical RESERVE release For immediate release July 19, 1968 Reserve Positions of Major Reserve City Banks Reserve Period Ended July 10, 1968 (In millions of dollars unless otherwise noted) 46 banks 8 banks in New York City 38 banks outside New York 5 banks 33 other in Chicago banks Reserve excess or deficiency (-) 1/ 79 20 59 4 56 Less: 75 2 73 16 58 1,440 404 1,037 233 804 -1,437 -386 -1,051 -245 -806 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ Equals: Net basic reserve surplus or deficit (-): ' z a. Net amount b. As per cent of average required reserves 12.7 8.5 15.6 23.7 1/ Reserves held after all adjustments applicable to the reporting period less the sum of required reserves and carryover reserve deficiencies. 2/ For details see Federal Funds Transactions of Major Reserve City Banks. Note: -- Averages of daily figures. Iff 14.1 H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended July 10, 1968 (In millions of dollars) $ 46 banks A. 38 banks outside New York 5 banks 33 other in Chicago banks % Interbank Federal funds transactions 1. * Gross transactions a. b. Purchases Sales 2. Total 2-way transactions 1/ 3, Total net transactions a. b. c. B. 8 banks in New York City Net purchases of net buying banks Net sales of net selling banks Net purchases or sales (-) 4 3,927 2,486 1,451 1,047 2,476 1,439 539 306 1,937 1,134 1,998 830 1,168 305 863 1,929 621 1,308 234 1,074 * 488 217 271 1 270 ' 1,440 404 1,037 233 804 < 1,194 847 347 347 * , Related transactions with U. S. Government securities dealers 1. Loans to dealers 2/ 2. Borrowings from dealers 3/ 254 110 144 144 3. Net loans 940 737 202 202 ' - - 1J Derived from averages for individual banks for entire week. Figure for each bank indicates extent to which its weekly average purchases and sales are offsetting; that is, it is the lesser of the two amounts. Gross purchases less 2-way transactions equals net purchases of net buying banks. Similarly, gross sales less 2-way transactions equals net sales of net selling banks. 2/ Federal funds loaned, net funds supplied to each dealer by clearing banks, repurchase agreements (purchases of securities from dealers subject to redale) or other lending arrangements. 3/ Federal funds borrowed, net funds acquired from each dealer by clearing banks, reverse repurchase agreements (sales of securities to dealers subject to repurchase), resale agreements, and borrowings secured by Gov't, or other issues. Note: — Averages of daily figures.