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H.5 For immediate release October 7, 1966 Reserve Positions of Major Reserve City Banks Reserve Period Ended September 28, i960 (in millions of dollars unless otherwise noted) * k6 "banks 8 hanks in 38 banks out5 banks 33 other New York City side Hew York in Chicago banks Reserve excess or deficiency (-) l/ 51 27 23 1 22 Less: Borrowings from Reserve Banks 29U l6l 133 39 9% Less: Het interbank Federal funds purchases or sales (-) 2/ 959 -66 1,025 385 6bO -1,203 -68 -1,135 -422 -712 11.5 1.6 18.3 Ul.9 13-7 Equals: Set basic reserve surplus or deficit (-): a. Net amount b. As per cent of average required reserves * ' 1/ Reserves held after all adjustments applicable to the reporting period less the sunt of , required reserves and carryover reserve deficiencies. - " 2/ For details see Federal Funds Transactions of Major Reserve City Banks. * " Vote: — Averages of daily figures. r * Jv ' >^ > r> H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended September 28, 1966 (In millions of dollars) 46 banks 33 other, 38 banks out- 5 banks 8 banks in New York City side New York in Chicago banks :* < A. Interbank Federal funds transactions 1. Gross transactions a. b. Purchases Sales 2. Total 2-way transactions l/ 1 3,088 2,129 1,121 1,187 1,967 942 639 254 1,406 585 821 222 3. Total net transactions a. b. c. Net purchases of net buying banks Net sales of net selling banks Net purchases or sales (-) 2. Borrowings from dealers jJ 3. Net loans < 417 . J 729, 1,682 536 723 602 121 32 89 4 959 -66 1,025 385 646 * J 637 435 202 95 76 19 542 359 183 10 — 10 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 hanks, repurchase agreements (purchases of securities from dealers subject to resale) or other lending arrangements. 2/ 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. 599' 1,146 l/ Note: — Averages of daily figures. 68a , - B. Related transactions with U. S. Government securities dealers 1". Loans to dealers 2/ 1,328 192' i 19
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