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FEDERAL statistical RESERVE release For immediate release September 1 6 , 1 9 7 7 Reserve Positions of Major Reserve City Banks Reserve Period Ended September 7 , 1 9 7 7 (In millions of dollars unless otherwise noted) •w 46 banks 38 banks outside New York 33 other 5 banks in Chicago banks 17 65 69 82 58 29 29 18,968 7, 187 11,781 6,636 5,145 -19,014 -7,285 -11,729 -6,619 -5,110 129.7 133.0 127.8 440.6 66.6 Reserve excess or d e f i c i e n c y ( - ) 1/ 13 •Less: Borrowings from Reserve Banks .Less: Net interbank Federal funds purchases or s a l e s ( - ) 2/ 8 banks in New York City - 29 'Equals: Net basic reserve surplus or d e f i c i t ( - ) : 1 a. Net amount b. As per cent of average rtequired reserves 1/ Reserves h e l d a f t e r a l l adjustments a p p l i c a b l e t o 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 the sum of r e q u i r e d r e s e r v e s . Adjusted t o i n c l u d e $20.6 m i l l i o n 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 accordance with Board p o l i c y change e f f e c t i v e November 19, 1975. 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 Reserve C i t y Banks. ' - NOTE: — Averages of d a i l y f i g u r e s . H.5(a) 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 B a n k s for the Week ended S e p t e m b e r (In m i l l i o n s of d o l l a r s ) 4 6 banks 8 banks in New York City 7, 1977 3 8 banks outside N e w York 5 banks in Chicago 3 3 other banks A. Interbank Federal f u n d s transactions 1. Gross transactions a. Purchases b. Sales 2. Total 2-way transactions 1/ 26,178 7,210 8,065 878 18,113 6,332 7,584 948 10,530 5,385 4,901 878 4,023 947 3,076 21,277 7,187 14,090 6,636 7,454 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks 2,309 2,309 —— 2,309 c. Net purchases or sales (-) 18,969 7,187 11,781 6,636 5,145 4,230 2,218 2,013 421 1,592 1,950 859 1,091 144 947 2,281 1,359 922 277 645 B. Related transactions with U.S. Government securities dealers 1. Loans t o dealers 2 / 2. Borrowings f r o m dealers 3 / 3. Net loans 1/ Derived f r o m averages for individual banks for entire week. Figure for each bank indicates extent t o which its weekly average purchases and sales are offsetting; t h a t is, it is the lesser of the t w o 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 t o each dealer by clearing banks, repurchase agreements (purchases of securities from dealers subject t o resale) or other lending arrangements. 3/ Federal funds borrowed, net funds acquired f r o m each dealer by clearing banks, reverse repurchase agreements (sales of securities to dealers subject t o repurchase), resale agreements, and borrowings secured by Gov't, or other issues. Note:—Averages of daily figures.
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