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I For immediate release May 28, 1971 LIBRARY H.5 •Reserve Positions of Major Reserve City Banks Reserve Period Ended May 19, 1971 (In millions of dollars unless otherwise noted) 46 banks 8 banks in New York City 38 banks outside New York 5 banks 33 other in Chicago banks Reserve excess or deficiency (-) 1_/ Less: Borrowings from Reserve Banks ^Less: Net interbank Federal funds purchases or sales (-) 2/ 181 134 47 7,252 4,408 2,844 1,337 1,508 -7,447 -4,521 -2,926 -1,385 -1,541 56.2 83.1 37.5 104.3 23.8 Equals: Net basic reserve surplus or deficit (-): a. Net amount As per cent of average required reserves Reserves held after all adjustments applicable to the reporting period including allowable carry-over and deficiencies, less the sum of required reserves. For details see Federal Funds Transactions of Major Reserve City Banks. Jote: — Averages of daily figures. H.5(a) Federal Funds transactions of Major Reserve City Banks for the Week Ended May 19, 1971 (In millions of dollars) 46 banks A. 38 banks outside New York 5 banks 33 othe& in Chicago banks A Interbank Federal funds transactions 1. Gross transactions a. b. Purchases Sales 2. Total 2-way transactions 1/ 3. Total net transactions a. b. c. Net purchases of net buying banks Net sales of net selling banks Net purchases or sales (-) B. 8 banks in New York City 11,515 4,263 4,962 554 6,553 3,709 1,916 580 4,637 4 3,129 * 3,330 554 2,776 523 2,253 ' K 8,185 4,408 933 3,777 1,393 2,384" 933 57 876 « 7,253 4,408 2,845 1,337 1,508^ 1,401 986 415 48 367* Related transactions with U. S. Government securities dealers 1. Loans to dealers 2J 2. Borrowings from dealers 3/ 477 160 316 3. Net loans 924 826 98 316. 48 If Derived trom averages rur iiiuivmuax — 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 redale) — 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. 51*
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