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FEDERAL RESERVE statistical release For immediate r e l e a s e , March 1 1 , 1 9 7 7 Reserve Positions of Major Reserve City Banks Reserve Period Ended March 2 , ] 977 (In millions of dollars unless otherwise noted) 46 banks Reserve excess or deficiency (-) 1/ 79 Less: -- Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 8 banks in New York Citv 38 banks outside New York 7 5 banks 33 other in Chicago banks 85 31 54 - - -- —— mm 15,664 4,709 10,955 5,972 4,982 -15,585 -4,716 -10,869 -5,941 -4,928 106.3 81.6 122.4 399.3 66.7 Equals: Net basic reserve surplus or deficit (-): a. Net amount be As per cent of average required reserves 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 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 $ 5 5 . 9 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 c h a n g e e f f e c t i v e November 19, 1 9 7 5 . 2/ F o r 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 M a j o r R e s e r v e C i t y Banks. j -«« NOTE: < -- A v e r a g e s of d a i l y f i g u r e s . S u b s t a n t i a l r e v i s i o n s have b e e n made t o t h e s e r i e s b e g i n n i n g w i t h p e r i o d e n d i n g J a n u a r y 14, 1 9 7 6 . F o r r e v i s e d d a t a s e e F e d e r a l Reserve B u l l e t i n , A p r i l 1976. H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week ended M a r c h 2 , 1 9 7 7 (In millions of dollars) 46 banks 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/ 22,763 7,099 5,807 1,098 16,956 6,001 6,893 921 10,063 5,080 5,358 1,097 4,260 921 3,339 17,405 4,710 12,696 5,972 6,723 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 1,741 - 1,741 w 1,741 15,665 4,710 10,955 5,972 4,983 1. Loans to dealers 2/ 2,560 1,611 950 205 744 2. Borrowings from dealers 3/ 2,008 795 1,213 525 688 553 816 320 57 B. Related transactions with U.S. Government securities dealers 3. Net loans - 264 - 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 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 securities to dealers subject t o repurchase), resale agreements, and borrowings secured by Gov't, or other issues. Note:—Averages of daily figures.
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