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FEDERAL statistical f*4L RESERVE release For immediate r e l e a s e October 2 1 , 1977 Reserve P o s i t i o n s of Major Reserve City Banks Reserve Period Ended October 12, 1977 (In m i l l i o n s of d o l l a r s u n l e s s otherwise noted) 46 banks 98 Reserve e x c e s s or d e f i c i e n c y ( - ) 1J Less: Borrowings from Reserve Banks Less: Net interbank Federal funds purchases or s a l e s ( - ) 2/ 138 8 banks i n New York City - 38 banks o u t s i d e New York 33 other 5 banks i n Chicago banks. 32 130 70 — 138 - - 60 138 20,620 8,494 12,126 6,391 5,735 -20,660 -8,525 -12,135 -6,321 -5,813 141.5 160.5 130.6 420.9 74.6 Equals: Net b a s i c r e s e r v e surplus or d e f i c i t ( - ) : a. Net amount b. As per cent of average r e quired r e s e r v e s ^ 1/ Reserves held a f t e r a l l adjustments applicable to the r e p o r t i n g p e r i o d i n c l u d i n g a l l o w a b l e c a r r y - o v e r and d e f i c i e n c i e s , l e s s t h e sum o f r e q u i r e d r e s e r v e s . A d j u s t e d t o i n c l u d e $ 6 8 . 1 m i l l i o n waivers of p e n a l t i e s f o r reserve d e f i c i e n c i e s i n accordance with Board p o l i c y change e f f e c t i v e November 19, 1 9 7 5 . ^ > 2/ For d e t a i l s s e e F e d e r a l Funds T r a n s a c t i o n s of Major R e s e r v e C i t y Banks. NOTE: — A v e r a g e s of d a i l y f i g u r e s . H .5 (a) Federal Funds transactions of Major Reserve City Banks for the Week ended O c t o b e r 1 2 , 1977 (In millions of dollars) 4 6 banks 8 banks in New York City 3 8 banks outside N e w York 5 banks in Chicago 3 3 other banks A. Interbank Federal funds transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-way transactions 1/ 27,466 6,846 8,984 490 18,483 6,356 7,275 884 11,208 5,472 4,820 490 4,330 879 3,452 22,646 8,494 14,152 6,396 7,756 2,026 5 2,021 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 2,026 «•» mm 20,620 8,494 12,127 6,391 5,735 1. Loans to dealers 2/ 5,475 3,357 2,118 491 1,627 2. Borrowings from dealers 3/ 2,384 1,246 1,137 269 869 3. Net loans 3,091 2,111 981 222 759 B. Related transactions with U.S. Government securities dealers 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.
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