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• *<A o* c o w •.. FEDERAL RESERVE statistical ?*AL ' release For immediate r e l e a s e March 3 1 , 1978 •>> H • 5 Reserve P o s i t i o n s of Major Reserve C i t y Banks Reserve Period Ended March 2 2 , 1978 ( I n m i l l i o n s of d o l l a r s u n l e s s o t h e r w i s e n o t e d ) 46 banks Reserve e x c e s s or d e f i c i e n c y ( - ) 1 / Less: Borrowings from R e s e r v e Banks L e s s : Net i n t e r b a n k F e d e r a l funds purchases or s a l e s ( - ) 2 / 8 banks i n New York C i t y 38 banks o u t s i d e Nc-v York 36 20 56 6 — — 6 33 o t h e r 5 banks i n Chicago banks 2 mm mm . 53 6 19,027 7,505 11,522 5,806 5,716 -18,997 -7,525 -11,473 -5,804 -5,668 124.2 132.2 119.5 377.2 70.3 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 o f a v e r a g e r e quired r e s e r v e s 1J 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 $4.1 m i l l i o n waivers 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 accordance with Board p o l i c y c h a n g e e f f e c t i v e November 1 9 , 1 9 7 5 . 2/ For d e t a i l s Banks. NOTE: — 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 A v e r a g e s of daily figures. H. 5 (a) 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 ended March 22, 1978 (In m i l l i o n s of d o l l a r s ) r 4 6 banks 8 banks in N e w Vork. City 3 8 banks outside N e w York 5 banks in C h i c a g o 3 3 othAr banks A. Interbank Federal f u n d s transactions > 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/ 26,936 8,235 18,701 6,889 11,812 7,909 730 7,179 1,083 6,097 4,920 730 4,190 1,083 3,108 22,016 7,505 14,511 5,806 8,705 3. Total net t r a n s a c t i o n s a. Net p u r c h a s e s of net buying b a n k s b. Net sales of n e t selling b a n k s c. Net purchases or sales (-) 2,989 — •• 2,989 mm 2,989 19,027 7,505 11,522 5,806 5,716 1. Loans t o dealers 2 / 3,360 1,874 1,487 357 1,130 2. Borrowings f r o m dealers 3 / 2,184 1,003 1,181 313 868 3. Net loans 1,176 871 306 44 261 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 securities dealers 1/ Derived f r o m averages f o r individual b a n k s for entire w e e k . Figure for each b a n k indicates e x t e n t t o which its w e e k l y average purchases and sales are o f f s e t t i n g ; t h a t is, it is the lesser of t h e t w o a m o u n t s . Gross purchases less 2-way t r a n s a c t i o n s equals net purchases of n e t b u y i n g banks. Similarly, gross sales less 2-way t r a n s a c t i o n s equals n e t sales of n e t selling banks. 2/ Federal f u n d s l o a n e d , net f u n d s supplied t o each dealer 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 (purchases of securities f r o m dealers s u b j e c t t o resale) or o t h e r lending 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 , net f u n d s acquired f r o m each dealer by clearing b a n k s , reverse repurchase agreements (sales of securities t o dealers s u b j e c t t o repurchase), resale agreements, and b o r r o w i n g s secured by G o v ' t , or o t h e r issues. N o t e : — A v e r a g e s of daily figures.