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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 June 2 3 , 1978 Reserve P o s i t i o n s of Major Reserve City Banks Reserve Period Ended June 14, 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 e x c e s s or d e f i c i e n c y ( - ) 1/ 'Less: 38 banks outs i d e New York 73 12 61 146 54 18,714 5 banks in Chicaso - 33 other 2 59 92 22 70 5,008 13,705 6,877 6,828 -18,932 -5,075 -13,857 -6,901 -6,957 118.6 84.2 139.4 434.2 83.3 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or s a l e s ( - ) 2 / 8 banks In New York City Equals: Net b a s i c r e s e r v e surplus or d e f i c i t ( - ) : a. Net amount b. As per cent of average required r e s e r v e s y 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 o f r e q u i r e d r e s e r v e s . Adjusted to include $4.6 million w a i v e r s of p e n a l t i e s for r e s e r v e d e f i c i e n c i e s in accordance with Board p o l i c y change e f f e c t i v e November 19, 1975. 1/ For d e t a i l s s e e 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 v Banks. » • NOTE: -- A v e r a g e s of d a i l y f i g u r e s . * " '-U) 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 e n d e d June 14, 1978 (In m i l l i o n s o f d o l l a r s ) 4 6 banks 8 banks in New York City 3 8 banks outside N e w Y o r k 5 banks in C h i c a g o A Interbank Federal f u n d s transactions 3 3 other banks • 1. Gross t r a n s a c t i o n s a. Purchases b. Sales 2. Total 2-way t r a n s a c t i o n s 1/ 25,547 6,834 5,818 810 19,729 6,024 7,817 940 11,912 5,084 4,599 810 3,789 940 2,849 20,948 5,008 15,940 6,877 9,063 3. Total n e t t r a n s a c t i o n s a. Net p u r c h a s e s of n e t buying banks b. Net sales of n e t selling b a n k s c. Net p u r c h a s e s o r sales (-) 2,235 - - 2,235 mm 2,235 18,713 5,008 13,705 6,877 6,828 1. Loans t o d e a l e r s 2 / 4,885 2,817 2,068 579 1,489 2. B o r r o w i n g s f r o m d e a l e r s 3 / 1,701 877 824 83 741 3. N e t loans 3,184 1,940 1,244 496 748 B. Related t r a n s a c t i o n s w i t h U.S. G o v e r n m e n t s e c u r i t i e s dealers 7 V Derived f r o m averages f o r individual b a n k s f o r e n t i r e w e e k . Figure f o r each b a n k i n d i c a t e s e x t e n t t o w h i c h its w e e k l y average p u r c h a s e s a n d sales are o f f s e t t i n g ; t h a t is, it is t h e lesser of t h e t w o a m o u n t s . G r o s s p u r c h a s e s less 2 - w a y t r a n s a c t i o n s e q u a l s n e t p u r c h a s e s of n e t b u y i n g b a n k s . S i m i l a r l y , gross sales less 2 - w a y t r a n s a c t i o n s e q u a l s net sales of n e t selling b a n k s . 2/ Federal f u n d s l o a n e d , n e t f u n d s s u p p l i e d t o each d e a l e r by clearing b a n k s , r e p u r c h a s e a g r e e m e n t s ( p u r c h a s e s of s e c u r i t i e s f r o m dealers s u b j e c t t o resale) or o t h e r l e n d i n g a r r a n g e m e n t s . 3/ Federal f u n d s b o r r o w e d , n e t f u n d s a c q u i r e d f r o m each d e a l e r b y clearing b a n k s , reverse r e p u r c h a s e a g r e e m e n t s (sales of securities t o d e a l e r s s u b j e c t t o r e p u r c h a s e ) , resale a g r e e m e n t s , a n d b o r r o w i n g s s e c u r e d b y G o v ' t , o r o t h e r issues. N o t e : — A v e r a g e s of d a i l y f i g u r e s .
@FedFRASER