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FEDERAL statistical RESERVE release For immediate r e l e a s e March 11, 1966 Reserve P o s i t i o n s of Major Reserve City Banks Reserve Period Ended March 2, 1966 H.5 ( l a m i l l i o n s of d o l l a r s u n l e s s otherwise n o t e d ) 46 banks > Borrowings from Reserve Banks Less: l e t Interbank F e d e r a l funds purchases or s a l e s ( - ) 2 / 4 25 - - 25 87 28 58 660 92 568 35 -722 -120 -602 •9 12.4 12.1 12.5 19 Reserve excess or d e f i c i e n c y ( - ) 1 / Less: 5 hanks 33 other 38 banks o u t 8 hanks i n Hew York City s i d e New York i n Chicago hanks 87 6U5 " -l6 Equals: S e t 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 cent of average r e quired r e s e r v e s -687 7.1 \J Reserves h e l d a f t e r a l l adjustments a p p l i c a b l e t o t h e r e p o r t i n g p e r i o d l e s s t h e r e q u i r e d r e s e r v e s and carryover r e s e r v e d e f i c i e n c i e s . 2/ For d e t a i l s see F e d e r a l Funds Transactions of Major Reserve City Banks. l o t e x — Averages of d a i l y f i g u r e s . F e d e r a l Funds T r a n s a c t i o n s of Major Reserve C i t y Banks f o r t h e Week Ended March 2, 1966 ( I n m i l l i o n s of d o l l a r s ) 46 banks 33 o t h e r 38 banks o u t - 5 banks 8 banks i n banks i n Chicago New York C i t y s i d e New York A. Interbank Federal funds transactions 1 . Gross t r a n s a c t i o n s a. b. Purchases Sales 2,472 1,828 1,035 1,050 1,438 777 1,163 275 183 595 1,245 667 579 156 423 1,227 368 859 119 740 583 384 199 27 172 645 -16 660 92 568 1 . Loans t o d e a l e r s 2 / 735 531( 201 9 192 2 . Borrowings from d e a l e r s j J 171 129 42 3 . Het l o a n s 564 405 159 2 . T o t a l 2 - v a y t r a n s a c t i o n s 1/ 3. Total net transactions a. b. c. Het p u r c h a s e s of n e t buying banks Net s a l e s of n e t s e l l i n g banks Het p u r c h a s e s o r s a l e s (-) B. Belated t r a n s a c t i o n s with U. S . Government s e c u r i t i e s dealers 42 9 1/ Derived from a v e r a g e s f o r lnaJLviausj. dsjokb i w —' . T. . i n d i c a t e s e x t e n t t o -which i t s weekly average purchases and s a l e s a r e o f f s e t t i n g # t h a t i s , i t i s t h e l e s s e r of t h e t v o amounts. Gross p u r c h a s e s l e s s 2-way 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 buying t a n k s . Similarly# g r o s s s a l e s l e s s 2-vay t r a n s a c t i o n s e q u a l s n e t s a l e s of n e t s e l l i n g hanks • 2/ F e d e r a l f u n d s loaned# 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 b y c l e a r i n g b a n k s , r e p u r c h a s e agreements ( p u r c h a s e s of s e c u r i t i e s f r e e d e a l e r s s u b j e c t t o r e s a l e ; 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/ F e d e r a l f u n d s borrowed, n e t f u n d s a c q u i r e d f r m each d e a l e r b y c l e a r i n g b a n k s , r e v e r s e r e p u r c h a s e agreements ( s a l e s of s e c u r i t i e s t o d e a l e r s s u b j e o repur c h a s e ) , r e s a l e agreements, and borrowings secured b y G o v ' t , o r o t h e r i s s u e s . Hate: — Averages of d a i l y f i g u r e s . 150
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