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r* k H.5 Reserve Positions of Major Reserve City "RnVa Reserve Period Ended May 18, 1966 For immediate release May 31, 1966 ( i n millions of dollars unless otherwise noted) T 46 banks , Reserve excess or deficiency ( - ) j / 8 banks in 38 banks out5 banks 33 other New York Citv side New York In Chicago b>n1rg 25 7 19 Less: Borrowings from Reserve Banks 204 69 135 Less: Net interbank Federal funds purchases or sales ( - ) 2/ 705 348 357 4 353 -884 -4io -473 -6 -468 8.9 10.4 7.9 •5 9-5 -1 20 135 - - Equals: Met basic reserve surplus or d e f i c i t ( - ) : y s. Met amount b. As per cent of average r e quired reserves i/ r > 2/ . Reserves held a f t e r a l l adjustments applicable t o the reporting period less the sum of required reserves and carryover reserve deficiencies. For d e t a i l s see Federal Funds Transactions of Major Reserve City Banks. Norte: — Averages of daily figures. H.5(a) Federal Funds t r a n s a c t i o n s of Major Reserve City Banks f o r the Week Ended May 18, 1966 ( i n millions of d o l l a r s ) 46 banks n 4 A 33 other 38 banks out- 5 banks 8 banks i n New York City side New York i n Chicago banks % r A. Interbank Federal funds transactions r 1. Gross t r a n s a c t i o n s a. b. Purchases Sales 2. Total 2-way t r a n s a c t i o n s 1/ r 2,087 1,382 927 578 1,160 803 260 1,080 497 583 210 256 t 900 4 373 * * 3. Total net t r a n s a c t i o n s a. b. c. Net purchases of net buying banks Net sales of net s e l l i n g banks Net purchases or s a l e s (-) 1,007 430 578 50 -V 302 81 221 46 705 31*8 357 . 4 175 , , 353 a M 1,058 725 333 2. Borrowings from d e a l e r s 3 / 104 96 9 3. Net loans 954 629 324 17 - - 17 l/ Derived from averages f o r indJLvidual banks f o r e n t i r e week. Figure 1"or each bank i n d i c a t e s extent t o which i t s weekly average purchases and s a l e s are o f f s e t t i n g ; t h a t i s , i t i s the l e s s e r of the two amounts. Gross purchases l e s s 2-way t r a n s actions equals net purchases of net buying hanks. Similarly, gross sales l e s s 2-way t r a n s a c t i o n s equals net s a l e s of net s e l l i n g banks. 2/ Federal funds loaned, net funds supplied t o each dealer 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 subject t o r e s a l e ) or other lending arrangements. 2/ Federal funds borrowed, net funds acquired from each d e a l e r by clearing banks, 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 subject t o repurchase), r e s a l e agreements, and borrowings secured by Gov't, or other issues. Digitized FRASER Note:for— Averages of daily figures. i 528 " • B. Related t r a n s a c t i o n s with U. S. Government s e c u r i t i e s dealers 1*. Loans t o d e a l e r s 2/ 1 315 * j 9 M a 4 307 J " *"
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