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For immediate release July 5, 1968 H. 5 Reserve Positions of Major Reserve City Banks Reserve Period Ended June 26, 1968 (In millions of dollars unless otherwise noted) Reserve excess or deficiency (-) 1/ Less: Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 46 banks 8 banks in New York City 46 25 21 1 20 300 84 216 32 183 1,026 516 510 280 230 -1,280 -574 -705 -312 -393 38 banks outside New York 33 other 5 banks in Chicago banks Equals: Net basic reserve surplus or deficit (-): a. Net amount b. As per cent of average required reserves 11.1 12.3 10.3 29.1 1J Reserves held after all adjustments applicable to the reporting period less the sum of required reserves and carryover reserve deficiencies. 2/ For details see Federal Funds Transactions of Major Reserve City Banks. Note: — Averages of daily figures. 6.8 H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended June 26, 1968 (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. b. c. B. 8 banks in New York City Net purchases of net buying banks Net sales of net selling banks Net purchases or sales (-) 3,426 2,400 1,346 831 2,079 1,569 524 243 1,556 1,326 1,827 791 1,036 230 806 1,599 555 1,044 294 750 573 39 534 13 520 1,026 516 510 280 230 2 217 Related transactions with U. S. Government securities dealers 1. Loans to dealers 2/ 894 675 218 2. Borrowings from dealers 3/ 340 134 206 3. Net loans 554 542 12 - - 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. 206 10
@FedFRASER