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BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) H.5 September 18, 1964 The attached statements, "The Basic Reserve Position, and Federal Funds and Related Transactions of Major Reserve City Banks" covering the reserve periods ending August 26, September 2, and September 9 are the first of a series of public releases of Federal funds data. The reporting week ends on a Wednesday and henceforth the statement covering that week will be distributed one week from the following Friday. These data are also available monthly in the Federal Reserve Bulletin beginning with August 1964. An article describing the Series in detail and furnishing back data for almost five years was included in the August Bulletin. Persons desiring to be placed on the mailing list for this release should address a request to: Publications Section, Board of Governors of the Federal Reserve System, Washington, D. C. 20551 £0 i ' V* , H“ 5 » ► Table I Be serve Politicals of Major Besexve City Banka Beaerve Period Ended August 26, 19 €k (in ■llllona of dollara unless otherwise noted) H6 banks 0 banka in 38 banka out 5 banks 33 oth lew York City side Hew York in Chicago banka Reserve excess or deficiency (-) l/ 18 10 8 -1 9 Less: Sorrowings front Be serve Banks 156 55 10 1 6 96 + Lesst Vet interbank Federal funds vpurchases or sales (-) *2/ ■ Equals: let basic reserve surplus or deficit (-); '»* a. Het amount 368 Xhl 227 . 28 199 -506 -186 -320 -35 -285 b. As per cent of average re quired reserves 5*5 5.2 5.8 3.8 6.2 I/ Reserves held after all adjustments applicable to the reporting period less the sum of required reserves and carryover reserve deficiencies. \J For detalla aee Federal Funds Transactions of Major Deserve City Banks» Vqtet -‘ •Averages of daily figures. Table II H-5(a) V -4 Federal Funds Transactions of Major Reserve City Banks for the Week Ended August 26, 196* (In millions of dollars) * r 8 banks in 38 banks out 5 banks 33 othex k6 banks Hew York City side Hew York in Chicago banks * Interbank Federal funds A. A transactions ► i« G m ? .tr.BASficiioas. A V 1ii>6* 1,196 678 537 886 659 228 200 658 *59 895 *77 me 116 302 669 201 U68 112 356 301 60 2*1 8* 157 368 1*1 227 28 199 1. Loans to dealers 2/ 9 *6 637 309 90 219 2. Borrowings from dealers 2/ 17 * 93 81 3 *78 772 5* * 228 87 1*1 a. Purchases b. Sales k 2. Total 2-vay transactions l/ •fA 3* Total net transactions a. Net purchases of net buying banks b. Het sales of net selling banks e. Net purchases or sales (-) B • Related transactions with ► U. 6. Government securities dealers ► r 3* Set loans 1/ Derived from averages for individual tanks for entire veek. Figure for each tank v indicates extent to which its weekly average purchases and sales are offsetting; that is, it is the lesser of the tvo amounts. Gross purchases less 2-way transactions equals net purchases of net buying hanks* Similarly, gross sales less 2-nay transactions equals net sales of net selling hanks* 2/ Federal funds loaned, net funds supplied to each dealer by clearing banka, -*■ repurchase agreements (purchases of securities froai dealers subject to resale) or other lending arrangements. 6/ Federal funds borrowed, net funds acquired from eaoh dealer by clearing banks, reverse repurchase agreements (sales of securities to dealers subject to repur chase), resale agreements, and borrowings secured by Oor*t. or other issues.
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