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FEDERAL RESERVE statistical release For immediate release, January 13, 1978 H .5 Reserve Positions of Major Reserve City Banks Reserve Period Ended January 4, 1978 (In millions of dollars unless otherwise noted) 46 banks 8 banks in New York City 38 banks out side New York 33 other 5 banks in Chicago banks 84 46 130 91 39 156 101 55 — 55 Less: Net Interbank Federal funds purchases or sales (-) 2 / 15,135 6,528 8,607 5,447 3,160 Equals: Net basic reserve surplus or deficit (-): -15,207 -6,675 -8,533 -5,356 -3,177 94.4 109.4 85.2 339.2 37.7 Peserve excess or deficiency (-) 1/ Less: Borrowings from Reserve Banks a. Net amount b. As per cent of average re quired reserves 1/ 2/ 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 $6.2 million waivers of penalties for reserve deficiencies in accordance with Board policy change effective November 19, 1975. For details see Federal Funds Transactions of Major Reserve City Banks• NOTE: — Averages of daily figures. A 1* H. 5 (a) Federal Funds transactions o f M ajor Reserve C ity Banks fo r the Week ended January 4 , 1978 (In m illio n s o f dollars) 46 banks 8 banks in N ew Y o r k C it y 3 8 banks o u t side N ew Y o r k 5 banks 3 3 other banks A. Interbank Federal funds transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-wav transactions 1/ 2 5 ,0 2 0 9 ,8 8 5 7 ,2 9 1 763 1 7 ,7 2 9 9 ,1 2 2 6 ,5 3 9 1 ,0 9 2 1 1 ,1 8 9 8 ,0 3 0 6 ,0 9 2 764 5 ,3 2 8 1 ,0 1 8 * 4 ,3 1 0 1 8 ,9 2 8 6 ,5 2 7 1 2 ,4 0 1 5 ,5 2 2 6 ,8 7 9 3 ,7 9 4 74 3 ,7 1 9 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 3 ,7 9 4 — 1 5 ,1 3 4 6 ,5 2 7 8 ,6 0 7 5 ,4 4 7 3 ,1 6 0 4 ,0 0 4 2 ,7 1 8 1 ,2 8 7 180 1 ,1 0 7 2. Borrowings from dealers 3/ 1 ,6 9 3 1 ,0 3 1 662 246 416 3. Net loans 2 ,3 1 2 1 ,6 8 7 625 66 691 B. Related transactions with U.S. Government securities dealers 1. Loans to dealers 2/ - 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; 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.
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