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FEDERAL M RESERVE statistical release For immediate release January 20, 1978 H. 5 Reserve Positions of Major Reserve City Banks Reserve Period Ended January 11, 1978 (In millions of dollars unless otherwise noted) 46 banks 33 other 5 banks in Chicago banks 94 9 20 11 129 27 102 14 88 20,710 7,766 12,944 6,502 6,442 -20,7.54 -7,699 -13,055 -6,536 -6,519 132.5 129.8 134.1 441.5 79.0 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 38 banks out side New York 86 Peserve excess or deficiency (-) 1_/ Less: 8 banks In New York City Equals: Net basic reserve surplus or deficit (-): t, ^ a. Net amount b. As per cent of average re quired reserves 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 $6.1 million waivers of penalties for reserve deficiencies in accordance with Board policy change effective November 19, 1975. 2/ For details, see Federal Funds Transactions of Major Reserve City Banks. NOTE: — Averages of daily figures. Federal Funds transactions o f M ajor Reserve C ity Banks fo r the Week ended J a n u a r y 1 1 , 1978 (In m illio n s o f dollars) i > 4 6 b anks 8 banks in N ew Y o r k C it y 3 8 b anks o u t side N ew Y o rk 5 b anks in C h icag o 3 3 o th e r b anks A. Interbank Federal funds transactions 1. Gross transactions V ^ a. Purchases b. Sales 2 8 ,3 3 0 7 ,6 2 0 8 ,3 4 2 576 1 9 ,9 8 8 7 ,0 4 5 7 ,4 9 2 991 1 2 ,4 9 6 6 ,0 5 4 5 ,2 2 1 576 4 ,6 4 5 911 3 ,7 3 4 2 3 ,1 1 0 7 ,7 6 6 1 5 ,3 4 3 6 ,5 8 2 8 ,7 6 2 2 ,4 0 0 — 2 ,4 0 0 80 2 ,3 2 0 2 0 ,7 1 0 7 ,7 6 6 1 2 ,9 4 4 6 ,5 0 2 6 ,4 4 2 1. Loans to dealers 2/ 5 ,0 5 0 2 ,9 0 2 2 ,1 4 8 387 1 ,7 6 1 2. Borrowings from dealers 3/ 1 ,4 6 2 1 ,1 4 7 315 34 281 3. Net loans 3 ,5 8 8 1 ,7 5 5 1 ,8 3 3 353 1 ,4 8 0 2. Total 2-way transactions 1/ ►* 3. Total net transactions a. Net purchases of net buying banks .4 b. Net sales of net selling banks c. Net purchases or sales (-) ^B . Related transactions w ith U.S. Government securities dealers -*T •4 *^ J/ r4 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. - * 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. ^felote:— Averages of daily figures.