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For i m m e d i a t e r e l e a s e December 20, 1968 H. 5 Reserve P o s i t i o n s of Major Reserve C i t y Banks Reserve Period Ended December 11, 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 banks Reserve excess or d e f i c i e n c y ( - ) 1/ Less: Borrowings from Reserve Banks l e s s : 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/ 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 11 3 16 - 30 14 200 86 114 3,355 938 2,417 613 1,804 114 E q u a l s : 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 c e n t of average r e quired r e s e r v e s -3,571 -1,054 -2,517 -611 -1,907 30.9 23.4 35.6 57.3 31.8 y Reserves 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 i n c l u d i n g allowable 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 . 2/ For d e t a i l s see F e d e r a l Funds T r a n s a c t i o n s of Major Reserve C i t y Banks. Note: — Averages of d a i l y f i g u r e s . H.5 (a) F e d e r a l Funds t r a n s a c t i o n s of Major Reserve C i t y Banks f o r t h e Week Ended December 11, 1968 ( I n m i l l i o n s of d o l l a r s ) 46 banks A. 38 banks o u t s i d e New York 5 banks 33 o t h e r i n Chicago banks Interbank Federal funds transactions 1. Gross t r a n s a c t i o n s a. be 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 n e t t r a n s a c t i o n s a. b. c. B. 8 banks i n New York C i t v Net p u r c h a s e s of n e t buying banks Net s a l e s of n e t s e l l i n g banks Net p u r c h a s e s or s i] es H 5,413 2,058 1,918 981 3,495 1,078 875 262 2,620 816 1,955 979 976 262 715 3,458 940 2,518 613 1,905 2 101 3,355 938 2,417 613 1,804 1,388 877 511 44 467 126 101 1,262 776 103 . a* mm 101 Related t r a n s a c t i o n s w i t h IJ. S. Government s e c u r i t i e s dialers 1. Loans t o d e a l e r s 2 / 2. Borrowings from d e a l e r s 3 / 3. Net l o a n s 25 ' 486 25 44 i n d i c a t e s e x t e n t t o which i t s weekly average 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 of t h e two amounts. Gross 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• S i m i l a r l y , g r o s s s a l 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 s a l e s of n e t s e l l i n g banks, 2/ F e d e r a l funds l o a n e d , n e t funds 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 agreements ( 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 o t h e r l e n d i n g a r r a n g e m e n t s . 3/ F e d e r a l funds 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 banks, 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 borrowings secured by G o v ' t , or o t h e r i s s u e s . Note: — Averages of d a i l y f i g u r e s . 442
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