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. Of GOWi FEDERAL statistical RESERVE release For immediate release May 5, 1978 H. 5 Reserve Positions of Major Reserve City Banks Reserve Period Ended April 26, 1978 (In millions of dollars unless otherwise noted) 46 banks Peserve excess or deficiency (-) IJ Less: 38 banks out side New York 33 other 5 banks in Chicago banks 24 37 61 3 64 300 59 241 -- 241 17,699 5,334 12,365 5,654 6,711 -18,023 -5,356 -12,667 -5,651 -7,016 117.0 95.6 129.2 371.6 84.7 Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or sales (-) 2/ 8 banks in New York City Equals: Net basic reserve surplus or deficit (-): a. Net amount b. As per cent of average re quired reserves 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 $3.8 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. NOTE: — Averages of daily figures. H .5(a) Federal Funds transactions o f M ajor Reserve C ity Banks fo r the Week ended April 2 6 , 1978 (In m illion s o f dollars) 46 banks 8 banks in New Y o rk C ity 38 banks o u t side New Y o rk 5 banks in Chicago 33 other banks A. Interbank Federal funds transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-way transactions 1/ 2 4 ,3 9 8 6 ,6 9 9 6 ,1 3 2 798 1 8 ,2 6 6 5 ,9 0 1 6 ,7 2 9 1 ,0 7 5 1 1 ,5 3 7 4 ,8 2 6 5 ,3 1 0 798 4 ,5 1 2 1 ,0 7 5 3 ,4 3 6 1 9 ,0 8 8 5 ,3 3 4 1 3 ,7 5 5 5 ,6 5 4 8 ,1 0 1 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks ___ 1 ,3 8 9 - - 1 ,3 8 9 1 7 ,6 9 9 5 ,3 3 4 1 2 ,3 6 5 5 ,6 5 4 6 ,7 1 2 1. Loans to dealers 2/ 3 ,3 7 1 2 ,0 3 2 1 ,3 3 9 193 1 ,1 4 7 2. Borrowings from dealers 3/ 2 ,5 7 5 1 ,5 1 4 1 ,0 6 1 220 841 796 518 278 27 305 c. Net purchases or sales (-) 1 ,3 8 9 B. Related transactions with U.S. Government securities dealers 3. Net loans - 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 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.
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