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OfGOW^ FEDERAL statistical RESERVE release i*AL * For immediate release March 18, 1966 Reserve Positions of Major Reserve City Beaks Be serve Period Ended March 9# 1966 ( i n millions of d o l l a r s unless otherwise noted) 46 hanks Reserve excess or d e f i c i e n c y ( - ) 1/ 38 hanks out8 hanks i n 5 hanks 33 other lew York City side lew York i n Chicago hanks 18 25 7 18 Less: Borrowings f r e e Reserve Banks 205 21 184 37 147 l e s s ; l e t interbank Federal funds purchases or s a l e s ( - ) 2 / 434 -154 588 176 412 - - • Equals: l e t b a s i c reserve surplus or d e f i c i t ( - ) ; a. 1 s t amount 6l4 140 -753 -212 -541 h. As per cent of average r e quired reserves 6.4 3.6 13.0 . 21.7 11.3 > 1/ • > 2/ Reserves held a f t e r a l l adjustments applicable t o the reporting period l e s s t h e sua of required reserves and carryover reserve d e f i c i e n c i e s . For d e t a i l s see Federal Funds Transactions of Major Reserve City Banks, l o t e i — Averages of d a i l y f i g u r e s . u i/ L r H.5(a) Federal Funds Transactions of Major Reserve City Banks f o r t h e Week Ended March 9, 1966 ( I n m i l l i o n s of d o l l a r s ) 46 banks 38 banks o u t - 5 banks 33 e t h e r 8 banks i n New York City side Hew York i n Chicago banks A. Interbank Federal funds transactions 1. Qroqp t r a n s a c t i o n s 2,187 1,753 869 1,318 730 286 1,023 110 1,032 620 894 483 411 101 311 1,293 386 907 185 721 859 540 319 10 309 434 -154 588 176 412 1 . Loans t o d e a l e r s 2 / 639 503 136 9 127 2 . Borrowings from d e a l e r s 167 122 46 3 . Bet loans 472 382 90 a. b. Purchases Sales 2 . T otal 2-way t r a n s a c t i o n s l / 3* Total n e t t r a n s a c t i o n s a. b. c. Met purchases of met buying banks Bet s a l e s of n e t s e l l i n g banks Bet purchases or s a l e s (-) B. Related t r a n s a c t i o n s with V. 8 . Government s e c u r i t i e s dealers — 9 W Derived from averages f o r I n d i v i d u a l t a n k s f o r e n t i r e week* figure for eaoh tank i n d i c a t e s extent to which I t s weekly average purchases and sales ere offsetting) t h a t i s , i t I s t h e l e s s e r of t h e two amounts. Gross purchases less 2-way transa c t i o n s equals n e t purchases of net buying hanks* Similarly# gross sales less 2-way t r a n s a c t i o n s equals n e t s a l e s of n e t s e l l i n g banks* 2/ Federal funds loaned, n e t funds supplied t o each d e a l e r by c l e a r i n g hanks, repurchase agreements (purchases of s e c u r i t i e s from d e a l e r s s u b j e c t t o r e s a l e ) or other lending arrangements. 3/ Federal funds borrowed, n e t funds acquired from each d e a l e r by c l e a r i n g hanks, reverse repurchase agreements ( s a l e s of s e c u r i t i e s t o d e a l e r s s u b j e c t t o r e p u r chase), r e s a l e agreements, and borrowings secured by G o v ' t , or o t h e r Issues* Hotel — Averages of d a i l y f i g u r e s . 46 81
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