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C: Of COW- FEDERAL Lffi! statistical RESERVE release For immediate r e l e a s e : J a n u a r y 5 , 1979 H. 5 Reserve P o s i t i o n s of Major Reserve City Banks Reserve Period Ended December 27, 1978 (In m i l l i o n s of d o l l a r s u n l e s s otherwise noted) 46 banks Reserve excess or d e f i c i e n c y ( - ) V Less: 8 banks i n New York Citv 38 banks o u t s i d e New York 5 banks 33 o t h e r i n Chicago banks 40 61 21 23 2 590 312 278 29 249 15,136 3,134 12,002 6,025 5,977 -15,765 -3,507 -12,258 -6,030 -6,228 88.1 55.1 106.3 348.9 63.5 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or s a l e s ( - ) 2/ 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 per cent of average r e quired r e s e r v e s 1/ Reserves held a f t e r a l l adjustments a p p l i c a b l e 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 of 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 $ 7 . 7 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 change e f f e c t i v e November 19, 1975. 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 R e s e r v e C i t y Banks. NOTE: — Averages of d a i l y f i g u r e s . k 6 ^4 H .5(a) 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 B a n k s for the Week ended J a n u a r y 5 , 1 9 7 9 (In m i l l i o n s of d o l l a r s ) iT " 4 6 banks 8 banks in New York City 3 8 banks outside N e w York 5 banks in Chicago 3 3 other banks 4 A. Interbank Federal f u n d s transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-wav transactions 1/ 7,750 4,658 1,523 18,229 6,227 7,183 1,158 < 11,045 5,06*8 5,854 1,379 4,475 1,101 3,374 22,886 A * 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 17,032 3,278 13,754 6,083 1,896 144 1,752 58 15,136 3,134 12,002 6,025 2. Borrowings f r o m dealers 3 / 3. Net loans 1/ 2/ 1,69 5 B. Related transactions with U.S. Government securities dealers 1. Loans t o dealers 2/ 7,6ft > ' 9U 11 *• I % 4,606 3,066 1,540 259 l,2fcl '1,865 420 1,446 417 1,(^9 2,740 2,646 94 - 158 2M Derived from averages for individual banks for entire week. Figure for each bank indicates extent to which its weekly aver^gjj purchases and sales are offsetting; that is, it is the lesser of the two amounts. Gross purchases less 2-way transactions equals ne, purchases of net buying banks. Similarly, gross sales less 2-way transactions equals net sales of net selling banks. •— "1 Federal funds loaned, net funds supplied to each dealer by clearing banks, repurchase agreements (purchases of securities t o e dealers subject t o resale) or other lending arrangements. 3/ Federal funds borrowed, net funds acquired from each dealer by clearing banks, reverse repurchase agreements (sales of secuntit to dealers subject t o repurchase), resale agreements, and borrowings secured by Gov't, or other issues. i Note:—Averages of daily figures. V -4 ¥ ,
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