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FEDERAL RESERVE statistical release For immediate r e l e a s e J u n e 24, 1977 Reserve Positions of Major Reserve City Banks Reserve Period Ended J u n e 1 5 , 1 9 7 7 (In millions of dollars unless otherwise noted) 46 banks 33 o t h e r 5 banks i n Chicago banks ... 40 29 20 9 105 16 89 49 40 17,921 5,438 12,483 6,042 6,441 -17,958 -5,414 -12,543 -6,071 -6,473 123.4 98.4 138.6 398.1 86.0 Borrowings from Reserve Banks Less: Net i n t e r b a n k Federal funds purchases or s a l e s ( - ) 2/ 38 banks o u t s i d e New York 68 Reserve excess or deficiency ( - ) 1/ Less: 8 banks in New York C i t v 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 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 Che 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 $ 6 5 . 8 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 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 y Banks. NOTE: — A v e r a g e s of d a i l y f i g u r e s . H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week ended J u n e 1 5 , 1977 (In millions of dollars) 46 bank* 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/ 23,993 6,072 6,660 1,222 17,333 4,850 6,708 666 10,625 4,184 4,732 1,222 3,510 666 2,843 19,261 5,438 13,824 6,042 7,782 3. total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 1,340 - - 1,340 — 1,340 17,921 5,438 12,483 6,042 6,441 1, Loans to dealers 2/ 4,593 2,067 2,526 401 2,125 2. Borrowings from dealers 3/ 1,968 466 1,503 406 1,097 3. Net loans 2,625 1,602 1,024 -5 1,028 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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