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FEDERAL statistical RESERVE release For immediate release February 15, 1974 Reserve Positions of Major Reserve City Banks Reserve Period Ended FEBRUARY 6, 1974 (In millions of dollars unless otherwise noted) 46 banks Reserve excess or deficiency (-) 1/ Less: Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 57 218 8 banks in New York City 85 — — 38 banks outside New York 5 banks 33 other in Chicago banks 29 2 27 218 mm wm 218 14,261 4,033 10,228 4,190 6,038 -14,535 -4,118 -10,417 -4,139 -6,229 93.4 65.5 112.2 268.8 80.7 Equals: Net 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 including allowable carry-over and deficiencies, less the sum of required reserves• 2/ For details see Federal Funds Transactions of Major Reserve City Banks. Note: -- Averages of daily figures. H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended FEBRUARY 6, 1974 (In millions of dollars) 46 banks A. 38 banks outside New York 5 banks 33 other in Chicago banks Interbank Federal funds transactions 1. Gross transactions a. b. Purchases Sales 2. Total 2-way transactions 1/ 3. Total net transactions a. be c. Net purchases of net buying banks Net sales of net selling banks Net purchases or sales <-) B. 8 banks In New York Cltv 20,196 5,935 5,099 1,066 15,097 4,869 4,981 790 10,116 4,078 5,141 1,066 4,075 790 3,284 15,055 4,033 11,022 4,190 6,832 794 794 794 14,260 4,033 10,228 4,190 6,037 2,293 1,512 781 374 407 636 327 309 1,657 1,185 472 Related transactions with U. S. Government securities dealers 1. Loans to dealers 2/ 2. Borrowings from dealers 3/ 3. Net loans 309 374 1/ Derived rrom averages tor lnaiviuuai u«ui*.o sumc — — - — 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 banks, repurchase agreements (purchases of securities from dealers subject to resale) or other lending arrangements. 3/ 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. Note: -- Averages of daily figures. 97