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FEDERAL RESERVE statistical release For immediate r e l e a s e May 27, 1977 H.5 Reserve Positions of Major Reserve City Banks Reserve Period Ended May 18, 1977 (In millions of dollars unless otherwise noted) 46 banks 8 banks in New York City 38 banks outside New York 33 other 5 banks In Chicago banks Reserve excess or deficiency ( - ) 1/ 64 30 34 18 16 Less: 18 -- 18 18 -- 16,727 5,656 11,070 5,908 5,163 -16,681 -5,627 -11,054 -5,907 -5,147 110.1 96.0 119.1 369.0 67.0 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales ( - ) 2/ Equals: Net basic reserve surplus or d e f i c i t ( - ) : a. Net amount b. 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 period including allowable carry-over and d e f i c i e n c i e s , l e s s the sum of required r e s e r v e s . Adjusted to include $66,2 m i l l i o n waivers of p e n a l t i e s for reserve d e f i c i e n c i e s in accordance with Board p o l i c y change e f f e c t i v e November 19, 1975. 2/ For d e t a i l s see Federal Funds Transactions of Major Reserve City Banks. NOTE: — Averages of d a i l y f i g u r e s . Substantial r e v i s i o n s have been made to the s e r i e s beginning with period ending January 14, 1976. For r e v i s e d data see Federal Reserve B u l l e t i n , April 1976. 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 Major Reserve City Banks f o r t h e Week e n d e d May 1 8 , 1 9 7 7 (In millions of dollars) 46 banks 8 banks in New York City 38 banks outside New York 5 banks ih Chicago 33 other banks 24,063 7,083 16,979 6,904 10,075 7,336 1,427 5,909 996 4,913 5,227 1,427 3,800 996 2,803 18,836 5,656 13,180 5,908 7,272 A. Interbank Federal funds transactions 1. Gross transactions a. Purchases b. Sale^ 2. Total 2-wav transactions 1/ 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 2,110 —— —— 2,110 2,110 16,726 5,656 11,070 5,908 5,163 1. Loans to dealers 2/ 2,857 1,533 1,324 229 1,095 2. Borrowings from dealers 3/ 2,327 1,019 1,308 561 746 530 514 16 333 349 B. Related transactions with U.S. Government securities dealers 3. Net loans - 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.