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. For immediate release July 23, 1965 Reserve Positions of Major Reserve City Banks Be serve Period Ended July 14, 1965 ( i n millions of dollars unless otherwise noted) 8 hanks l a 38 banks out- 5 hanks 33 other k6 hanks lew York City side lew York l a Chicago hanks 21 6 15 -1 16 Less: Borrowings f r e e Reserve Banks 329 172 157 17 140 Lessi let interbank Federal funds " purchases or sales ( - ) 2/ 1,152 481 670 267 403 Reserve excess or deficiency ( - ) l / Bqtialsz let basic reserve surplus or d e f i c i t ( - ) t a. l e t amount b. As per cent of acverege r e quired reserves • -1,460 -648 -812 -285 -527 15.1 16.8 13.9 29.2 10.8 1/ Reserves held a f t e r a l l adjustments applicable t o the reporting period lees the sum of repaired reserves and carryover reserve deficiencies. 2/ For d e t a i l s see Federal Funds Transactions of Major Reserve City Beake. Motet — Averages of dally f i g u r e s . H.5(a) Federal Fundi Transactions of Major Reserve City Banks f o r the Week Ended July 14, 1965 ( i n millions of dollars) 8 banks In 38 banks out- 5 hanks 33 other 46 banks lew York City side lew York in Chicago banks A. Interbank Federal funds transactions 1. Gross transactions a. b. Purchases Sales 2. Total 2-way transactions 1/ 2,148 997 922 44l 1,227 556 402 135 825 422 873 4l8 455 113 342 1,275 504 772 289 483 124 22 101 22 80 1,152 481 670 267 403 1,148 746 402 47 355 92 92 - - - - - - 1,056 654 402 47 355 3* Total net transactions a. b. c. l e t purchases of met buying banks Set sales of net selling banks Bet purchases or sales (-) , B. Belated transactions with U. S. Government securities dealers 1. leans t o dealers 2 / 2. Borrowings from dealers 5 / 3* l e t loans 1/ Derived from averages for individual "banks for entire week. Figure f o r each bank indicates extent t o which i t s weekly average purchases and sales ere offsetting] that i s , i t i s the lesser of the two amounts» Gross purchases l e s s 2-vay t r a n s actions equals net purchases of net "buying banks. Similarly, gross sales l e s s 2-way transactions equals net sales of net selling banks. 2/ Federal funds loaned, net funds supplied t o each dealer by clearing banks# repurchase agreements (purchases of securities from dealers subject t o resale) or other lending arrangements. 2/ Federal funds borrowed, net funds acquired from each dealer by clearing banks, reverse repurchase agreements (sales of securities t o dealers subject t o repurchase), resale agreements, and borrowings secured by Gov't, or other Issues. Mote: — Averages of daily f i g u r e s .