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FEDERAL RESERVE For immediate release May 17, 1968 Reserve Positions of Major Reserve City Banks Reserve Period Ended May 8, 1968 (In millions of dollars unless otherwise noted) 46 banks Reserve excess or deficiency (-) 1/ Less: Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 8 banks in New York City 38 banks outside New York 5 banks 33 other in Chicago banks 91 53 38 2 36 362 64 298 198 100 1,362 696 666 366 300 -1,633 -707 -926 -561 -364 Equals: Net basic reserve surplus or deficit (-): a. Net amount b. As per cent of average required reserves 14.4 15.7 13.6 51.6 1/ Reserves held after all adjustments applicable to the reporting period less the sum of required reserves and carryover reserve deficiencies. 2/ For details see Federal Funds Transactions of Major Reserve City Banks. Note: — Averages of daily figures. 6.4 H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended May 8, 1968 (In millions of dollars) A. 8 banks in New York City 38 banks outside New York 3,417 2,055 1,405 709 2,011 1,345 588 222 1,423 1,123 1,597 700 897 222 675 1,819 705 1,114 366 749 458 9 448 1,362 696 666 1,113 639 475 .. 475 5 banks 33 other in Chicago banks Interbank Federal funds transactions 1. Gross transactions a. b. Purchases Sales 2. Total 2-way transactions 1/ 3. Total net transactions a. be c. B. 46 banks Net purchases of net buying banks Net sales of net selling banks Net purchases or sales H 448 366 300 Related transactions with U. S. Government securities dealers 1. Loans to dealers 2/ 2. Borrowings from dealers 2/ 173 64 109 — 109 3. Net loans 941 575 366 — 366 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.
@FedFRASER