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FEDERAL RESERVE s t a t i For s t iimmediate c a l release release August 1 2 , 1977 Reserve P o s i t i o n s of Major Reserve C i t y Banks Reserve Period Ended August 3 , 1977 (In m i l l i o n s of d o l l a r s u n l e s s otherwise noted) 46 banks 8 banks i n | 38 banks o u t New York C i t y s i d e New York 33 other 5 banks i n Chicago banks Reserve e x c e s s or d e f i c i e n c y ( - ) 1/ 157 24 133 16 117 Less: 156 107 49 21 27 16,468 6,591 9,877 5,578 4,299 -16,467 -6,675 -9,792 -5,584 -4,208 107.7 114.4 103.6 369.9 53.0 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or s a l e s ( - ) 2 / Equals: Net b a s i c r e s e r v e surplus or d e f i c i t ( - ) : a. Net amount b. As per cent of average r e quired r e s e r v e s 1/ Reserves held after all adjustments applicable to the reporting period including allowable carry-over and deficiencies, less the sum of required reserves. Adjusted to include $ 2 1 . 9 million waivers of penalties for reserve deficiencies in accordance with Board policy change effective November 19, 1 9 7 5 . 2/ For details see Federal Funds Transactions of Major Reserve City Banks. NOTE: — Averages of daily figures. Substantial revisions have been made to the series beginning with period ending January 14, 1 9 7 6 . For revised data see Federal Reserve Bulletin, April 1 9 7 6 . H 5(a) F e d e r a ; F u n d s e 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 e n k s for t h e Week e n d e d A u g u s t 3 , 1 9 7 7 (In m i l l i o n s of d o l l a r s ) 8 banks in N e w Y o r k City 4 6 banks 3 8 banks out siue N e w Y o r k v .V ' |j i; II 5 banks in Chicago 3 3 other banks ! A. interbank Federal f u n d s transactions 1. Gross transactions 24,439 7,971 a. Purchases b Sales 2. Total 2-way transactions 1/ : i 5,187 7,525 934 | 16,913 7.037 6,786 1,208 10.127 5,329 934 4,253 1,208 3,045 6,591 12,661 5,578 7,083 3. Total net transactions a. Net purchases of net buying banks 19,252 b. Net sales of net selling banks ^ c. Net purchases or sales (-) U it 2,784 | — — 2,784 ! 2,78* 16,468 6,591 9,876 5,578 4,298 1. Loans to dealers 2 / 2,533 1,282 1,251 188 1,063 2. Borrowings f r o m dealers 3 / 2,019 916 1,103 363 740 366 147 175 322 4 B. Related transactions with U.S. Government securities dealers 3. Net loans .S 514 - 1/ 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; t h a t 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 banks, repurchase agreements (purchases of securities from dealers subject t o resale) or other lending arrangements. 3/ Federal f u n d s borrowed, net funds 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.