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FEDERAL RESERVE s t a t i s t i c a l release For immediate r e l e a s e O c t o b e r 2 8 , 1977 Reserve Positions of Major Reserve City Banks Reserve Period Ended O c t o b e r 19, 1977 (In millions of dollars unless otherwise noted) 46 banks 8 banks i n New York C i t y 38 banks o u t s i d e New York 33 o t h e r 5 banks i n Chicago banks Reserve e x c e s s or d e f i c i e n c y ( - ) V 587 42 545 12 557 Less: 795 285 510 40 470 18,666 6,173 12,493 6,446 6,047 -18,874 -6,416 -12,459 -6,498 -5,961 121.4 106.6 130.8 397.5 75.5 Borrowings from Reserve Banks Less: Net I n t e r b a n k Federal f u n d s p u r c h a s e s or s a l e s ( - ) 2/ 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 ( - ) : a. Net amount b. As per cent of average r e quired reserves 1/ Reserves held a f t e r a l l adjustments applicable to the r e p o r t i n g p e r i o d i n c l u d i n g a l l o w a b l e c a r r y - o v e r and d e f i c i e n c i e s , 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 . Adjusted to include $11.3 m i l l i o n w a i v e r s of p e n a l t i e s f o r r e s e r v e d e f i c i e n c i e s i n a c c o r d a n c e w i t h Board p o l i c y c h a n g e e f f e c t i v e November 19, 1 9 7 5 . 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 Major R e s e r v e C i t y Banks. NOTE: — A v e r a g e s of d a i l y f i g u r e s . 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 B a n k s for the Week ended O c t o b e r 1 9 , 1 9 7 7 (In m i l l i o n s of d o l l a r s ) 4 6 banks 8 banks in N e w Y o r k City 3 8 banks outside N e w Y o r k 5 banks in Chicago 3 3 other banks A. Interbank Federal f u n d s transactions 1. Gross transactions a. Purchases b. Sales 24,945 6,279 7,203 1,030 17,742 5,249 7,229 783 10,513 4,466 4,937 991 3,946 770 3,176 20,008 6,212 13,796 6,459 7,337 1,342 39 1,303 12 1,291 18,666 6,173 12,493 6,446 6,047 1. Loans t o dealers 2 / 4,498 2,595 1,903 372 1,532 2. Borrowings f r o m dealers 3 / 2,133 1,181 952 128 823 3. Net loans 2,365 1,413 952 243 709 2. T o t a l 2-wav t r a n s a c t i o n s 1/ 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) B. Related transactions with U.S. Government securities dealers r V Derived from averages for individual banks for entire week. Figure for each bank indicates ex t en t t o which its weekly average purchases and sales are offsetting; t h a t is, it is the lesser of t h e t w o 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 f u n d s supplied t o each dealer by clearing banks, repurchase agreements (purchases of securities from dealers subject t o resale) or other lending arrangements. 3/ Federal funds borrowed, net f u n d s acquired f r o m each dealer by clearing banks, reverse repurchase agreements (sales of securities to dealers subject t o repurchase), resale agreements, and borrowings secured by Gov't, or other issues. * Note:—Averages of daily figures. *
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