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FEDERAL statistical > RESERVE release For immediate r e l e a s e O c t o b e r 7 , 1977 H. 5 Reserve Positions of Major Reserve City Banks Reserve Period Ended S e p t e m b e r 2 8 , 1977 (In millions of dollars unless otherwise noted) 46 banks Reserve e x c e s s or d e f i c i e n c y ( - ) 1/ Less: 101 76 Borrowings from Reserve Banks L e s s : Net i n t e r b a n k F e d e r a l f u n d s p u r c h a s e s o r s a l e s ( - ) 2/ 8 banks i n New York C i t y 38 banks o u t s i d e New York 33 o t h e i 5 banks i n Chicago banks 36 65 46 19 - - 76 - — 76 14,978 6,832 8,146 4,684 3,462 -14,953 -6,797 -8,157 -4,638 -3,519 100.3 124.4 86.3 311.4 44.2 E q u a l s : Net b a s i c r e s e r v e s u r p l u s or d e f i c i t ( - ) : a. Net amount b. As p e r c e n t of a v e r a g e r e quired 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 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 of r e q u i r e d r e s e r v e s . Adjusted to include$120.8 million w a i v e r s of p e n a l t i e s f o r r e s e r v e d e f i c i e n c i e s i n a c c o r d a n c e w i t h Board p o l i c y c h a n g e e f f e c t i v e November 19, 1 9 7 5 . 2/ For d e t a i l s Banks. NOTE: — s e e 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 M a j o r R e s e r v e C i t y 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 F u n d s t r a n s a c t i o n s of Major Reserve City B a n k s for t h e Week e n d e d S e p t e m b e r 2 8 , 1 9 7 7 (In m i l l i o n s of dollars) 4 6 banks 8 banks in N e w 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/ 23,969 8,991 7,902 1,070 16,067 7,921 5,934 1,250 10,133 6,671 5,156 1,070 4,086 1,208 2,879 18,813 6,832 11,981 4,727 7,254 3,835 43 3,792 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 3,835 • mm 14,979 6,832 8,146 4,684 3,462 1. Loans to dealers 2/ 2,594 1,425 1,169 190 980 2. Borrowings from dealers 3 / 2,969 1,086 1,883 846 1,037 375 338 714 657 57 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 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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