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For immediate r e l e a s e May 3 1 , 1968 H. 5 R e s e r v e P o s i t i o n s of M a j o r R e s e r v e C i t y Banks R e s e r v e P e r i o d Ended May 2 2 , 1968 ( I n m i l l i o n s of d o l l a r s u n l e s s o t h e r w i s e n o t e d ) 46 b a n k s Reserve excess or d e f i c i e n c y ( - ) 1/ Less: B o r r o w i n g s f r o m R e s e r v e Banks Less: Net i n t e r b a n k F e d e r a l f u n d s p u r c h a s e s o r s a l e s ( - ) 2/ 84 139 8 banks i n New York C i t y 39 - - 38 b a n k s o u t s i d e New York 5 banks 33 flther i n Chicago banks 45 6 38 139 17 122 367 511 -377 -595 36.3 10.6 ' 1,309 431 878 -1,364 -392 972 12.3 8.9 14.6 Equals: Net b a s i c r e s e r v e s u r p l u s or d e f i c i t ( - ) : y a. Net amount b. As p e r c e n t o f a v e r a g e r e quired reserves \ V R e s e r v e s h e l d a f t e r a l l a d j u s t m e n t s a p p l i c a b l e t o t h e r e p o r t i n g p e r i o d l e s s t h e sum of r e q u i r e d r e s e r v e s and c a r r y o v e r r e s e r v e d e f i c i e n c i e s . 2/ F o r d e t a i l s s e e F e d e r a l Funds T r a n s a c t i o n s of M a j o r R e s e r v e C i t y B a n k s . N o t e : — A v e r a g e s of d a i l y f i g u r e s . m H.5(a) F e d e r a l F u n d s t r a n s a c t i o n s of M a j o r R e s e r v e C i t y Banks f o r t h e Week Ended May 2 2 , 1968 ( I n m i l l i o n s of d o l l a r s ) 46 b a n k s 8 banks in New York C i t y 38 b a n k s o u t s i d e New York 5 b a n k s 33 other i n C h i c a g o banks % A. Interbank Federal funds transactions 1. Purchases Sales 2. T o t a l 2-way t r a n s a c t i o n s 1 / 3. Total net t r a n s a c t i o n s a. b. c. Net p u r c h a s e s o f n e t buying banks Net s a l e s o f n e t s e l l i n g banks Net p u r c h a s e s o r s a l e s (-) 1/ ~ # Gross t r a n s a c t i o n s a. b. B. > 3,417 2,108 1,215 784 2,202 1,323 608 242 1,593* 1,082 * 1,531 647 884 242 642* 4 * 1,886 568 1,318 577 137 440 1,309 431 878 367 951* 440* • 367 Related transactions with U. S. Government s e c u r i t i e s dealers 511 • • » 1. Loans t o d e a l e r s 2 / 941 571 369 — 369* 2. Borrowings from d e a l e r s 3/ 280 74 206 — 206 ^ 3. Net l o a n s 661 497 163 - - 163 v D e r i v e d f r o m a v e r a g e s f o r i n d i v i d u a l b a n k s f o r e n t i r e week. F i g u r e f o r e a c h b a n k i n d i c a t e s e x t e n t t o w h i c h i t s w e e k l y a v e r a g e p u r c h a s e s and s a l e s a r e o f f s e t t i n g ; t h a t i s , i t i s t h e l e s s e r o f t h e two a m o u n t s . G r o s s p u r c h a s e s l e s s 2-way t r a n s a c t i o n s e q u a l s n e t p u r c h a s e s of n e t buying banks. Similarly, gross sales less 2-way t r a n s a c t i o n s e q u a l s n e t s a l e s of n e t s e l l i n g b a n k s . + * 2/ ~ F e d e r a l f u n d s l o a n e d , n e t f u n d s s u p p l i e d t o each d e a l e r by c l e a r i n g b a n k s , r e p u r c h a s e a g r e e m e n t s ( p u r c h a s e s 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 d a l e ) or other lending arrangements. * m \ 3/ F e d e r a l f u n d s borrowed, n e t f u n d s a c q u i r e d from each d e a l e r by c l e a r i n g b a n k s , r e v e r s e r e p u r c h a s e 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 c h a s e ) , r e s a l e a g r e e m e n t s , and b o r r o w i n g s s e c u r e d b y G o v ' t , o r o t h e r i s s u e s . v Note: — Averages of d a i l y f i g u r e s . • ^ *
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