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Hill •Wm-" H E M /%% Recerve Positions of Major Reserve City Banks Reserve Period Ended November 18, 1964* (In Millions of d o l l a r s unless otherwise noted) \ 46 banks Reserve excess or deficiency ( - ) l / 5 banks 33 other 8 banks In 38 banks outHev York City side Hev York i n Chicago banks 45 15 29 - .4 33 288 129 159 44 116 "Less: Met interbank Federal funds purchases or s a l e s ( - ) 2 / 786 488 298 105 193 'Equals: Bet b a s i c reserve surplus , or d e f i c i t ( - ) : -1,029 -601 -428 -152 -276 11.1 16.8 Less: a. Net amount b. As per cent of average r e quired reserves £/ >¥ Borrowings from Reserve Banks 7 "5 —1^*9—— —5^8 Reserves held a f t e r a l l adjustments applicable t o t h e reporting period l e s s t h e sum of required reserves and carryover reserve d e f i c i e n c i e s . . 2 j For d e t a i l s see Federal Funds Transactions of Major Reserve City Banks. /forte: — Averages of d a i l y f i g u r e s . r* Because the previous reserve week ended on a holiday in some d i s t r i c t s , member banks in those d i s t r i c t s were e n t i t l e d t o use an eight-day reserve period i n computing t h e i r reserve requirements. 4 New York, 2 Chicago and £ other reserve c i t y banks chose an j ,» eight-day reserve week. This t a b l e , however, i s compiled on a seven-day b a s i s with no ; adjustments f o r those banks using an eight-day reserve period. F . H.5(a) r Federal Funds Transactions of Major Reserve City Banks f o r the Week Ended November 18, 1964 ( i n millions of d o l l a r s ) 46 banks 38 banks out- 5 banks 33 other 8 banks i n New York City side Hew York In Chicago banks A. Interbank Federal funds transactions » 1 . Gross t r a n s a c t i o n s a. b. Purchases Sales . 2 . Total 2-way t r a n s a c t i o n s 1 / 1,561 776 823 335 739 440 216 111 523 329 685 332 353 108 245 876 491 385 108 277 90 3 87 3 84 786 488 298 105 193 3 . Total net t r a n s a c t i o n s a. * b. o. Net purchases of net buying banks Net sales of net s e l l i n g banks Net purchases or sales (-) & B. Related t r a n s a c t i o n s with U. S. Government s e c u r i t i e s dealers 1 . Loans t o dealers 2 / 2 . Borrowings from dealers JjJ 3 . Net loans > r 1/ ** ^ ."2/ ^ »» r . 2/ 1,274 943 70 70 1,204 873 331 99 -- - - 331 99 Derived from overageG f o r Individual "banks f o r e n t i r e week. Figure f o r each "bank indicates extent t o which i t s weekly average purchases and sales are o f f s e t t i n g ; t h a t i s , i t i s the l e s s e r of the two amounts. Gross purchases l e s s 2-way t r a n s actions equals net purchases of net "buying "banks. Similarly, gross s a l e s l e s s 2-way t r a n s a c t i o n s equals net sales of net s e l l i n g hanks. Federal funds loaned, net funds supplied t o each dealer "by c l e a r i n g "banks, repurchase agreements (purchases of s e c u r i t i e s from d e a l e r s subject t o r e s a l e ) or other lending arrangements. Federal funds "borrowed, net funds acquired from each dealer "by clearing banks, reverse repurchase agreements ( s a l e s of s e c u r i t i e s t o dealers subject t o repurchase), r e s a l e agreements, and "borrowings secured by Gov't, or other i s s u e s . ^ Rote: - - Averages of d a i l y f i g u r e s . •v A • .• • : 232 232