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FEDERAL RESERVE statistical release For immediate release March 24, 1978 , H.5 Reserve Positions of Major Reserve City Banks Reserve Period Ended March 15, 1978 (In millions of dollars unless otherwise noted) 46 banks 4 . 8 banks in New York City j 38 banks out side New York 33 other 5 banks in Chicago banks Peserve excess or deficiency (-) JL/ 5 30 24 15 Less: 4 — 4 — ,# Borrowings from Reserve Banks - 39 4 Less: Net interbank Pederal funds purchases or sales (-) Z/ 19,309 7,567 11,742 5,172 6,570 ^Equals: Net basic reserve surplus or deficit (-): ♦ a. Net amount -19,308 -7,537 -11,771 -5,157 -6,614 127.2 130.5 125.2 340.8 83.8 * b. ^ 1/ Reserves held after all adjustments applicable to the reporting period including allowable carry-over and deficiencies, less the sum of required reserves. Adjusted to include $4.1 million waivers of penalties for reserve deficiencies in accordance with Board policy change effective November 19, 1975. 2/ For details see Federal Funds Transactions of Major Reserve City Banks. ^ -J > As per cent of average required reserves NOTE: -- Averages of daily figures. H.5(a) Federal Funds transactions o f M ajor Reserve C ity Banks fo r the Week ended M a rc h 1 5 , (In m illio n s o f d ollars) 4 6 banks 1978 8 banks in N ew Y o r k C it y * v- 3 8 b anks o u t side N ew Y o r k 5 ban ks in C h icag o 33 other banks A. Interbank Federal funds transactions « 1. Gross transactions a. Purchases b. Sales 2. Total 2-way transactions 1/ 2 5 ,9 4 8 6 ,6 3 9 8 ,2 1 6 650 1 7 ,7 3 2 5 ,9 9 0 6 ,0 5 3 882 1 1 ,6 7 9 5 ,1 0 8 4 ,6 7 3 6 49 4 ,0 2 4 882 3 ,1 4 3 2 1 ,2 7 5 7 ,5 6 7 1 3 ,7 0 8 5 ,1 7 1 8 ,5 3 6 * »■_ 3. Total net transactions a. Net purchases of net buying banks A f- b. Net sales of net selling banks c. Net purchases or sales (-) 1 ,9 6 7 -- 1 ,9 6 7 -- 1 9 ,3 0 8 7 ,5 6 7 1 1 ,7 4 1 5 ,1 7 1 1 ,9 6 7 A 6 ,5 7 0 B. Related transactions with U.S. Government securities dealers y- 1. Loans to dealers 2/ 4 ,6 0 1 2 ,6 2 0 1 ,9 8 1 426 1 ,5 5 5 2. Borrowings from dealers 3/ 1 ,7 5 7 971 787 242 544 3. Net loans 2 ,8 4 4 1 ,6 5 0 1 ,1 9 4 183 1 ,0 1 1 ^ x A 11 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 nefr * purchases of net buying banks. Similarly, gross sales less 2-way transactions equals net sales of net selling banks. A^ 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. ^v A< Noter— AveFages of daily figures. A f- V-
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