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FEDERAL RESERVE s t a t i s t i c a l r e l e a s e For immediate r e l e a s e , J a n u a r y 2 1 , 1977 Reserve Positions of Major Reserve City Banks Reserve Period Ended J a n u a r y 1 2 , 1977 (In millions of dollars unless otherwise noted) 46 banks Reserve e x c e s s o r 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/ 312 - - 8 banks i n New York C i t v 38 banks o u t s i d e New York 149 163 —— - - 5 banks 33 o t h e r i n Chicago bank#. 60 —— 103 «- — 21,537 8,891 12,646 5,769 6,877 -21,225 -8,742 -12,483 -5,710 -6,774 135.7 141.1 132.1 356.3 86.3 Equals: 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 p e r c e n t of a v e r a g e r e quired reserves , 1/ Reserves held a f t e r a l l adjustments applicable to the r e p o r t i n g p e r i o d i n c l u d i n g a l l o w a b l e 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 o f r e q u i r e d r e s e r v e s . A d j u s t e d t o i n c l u d e $ 5 6 . 6 m i l l i o n w a i v e r s of p e n a l t i e s f o r r e s e r v e d e f i c i e n c i e s i n a c c o r d a n c e w i t h Board p o l i c y c h a n g e e f f e c t i v e November 1 9 , 1 9 7 5 . 2/ F o r d e t a i l s s e e F e d e r a l F u n d s 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 Banks. NOTE: — A v e r a g e s of d a i l y f i g u r e s . S u b s t a n t i a l r e v i s i o n s h a v e b e e n made t o t h e s e r i e s b e g i n n i n g w i t h p e r i o d e n d i n g J a n u a r y 14, 1976. For r e v i s e d d a t a see F e d e r a l Reserve B u l l e t i n , A p r i l 1976. H.5(a) Federal F u n d s t r a n s a c t i o n s of Major Reserve City Banks f o r t h e Week ended J a n u a r y 1 2 , 1 9 7 7 (In millions of dollars) 46 banks 8 banks in New York City 38 banks outside New York 5 banks in Chicago 33 other banks A. Interbank Federal funds transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-wav transactions 1/ 27,907 6,371 9,507 617 18,400 5,754 6,681 911 11,719 4,843 5,627 617 5,010 889 4,121 22,280 8,890 13,390 5,791 7,599 744 22 722 3 Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 744 — 21,537 8,890 12,646 5,769 6,877 1. Loans to dealers 2/ 4,408 2,316 2,093 331 1,761 2. Borrowings from dealers 3/ 1,313 641 672 304 368 3. Net loans 3,095 1,674 1,421 27 1,394 B. Related transactions with U.S. Government securities dealers 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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