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February 24, 1964 ,'L-5-6 CONFIDENTIAL (FR) F£* 'IJjy • u ;-?S ; Table 1. ->. Reserve Positions of Major Banks Reserve period Ended February 12, 1964* (All dollar figures are daily averages, in millions) Reserve city banks 37 banks 8 New Yoxfc 45 reserve outside NYC City banks city banks 1. Reserve excess or deficiency (-) 26 17 Four nanreserve . city banksj:/ 9 -13 1 - - less: Carry-over reserve deficiency 1 3- less: Borrowings from Reserve Banks 257 86 4. Less: Net Federal funds purchases or sales (-) 2/ 311 4^2 -609 -501 —108 65 -7 -14 -2 53 2. 171 — -78 5- Equals: Net basic reserve surplus or deficit (-): a. In millions of dollars b. As per cent of average required reserves l/ First half of reserve computation period. 2/ For details, see following table. * Due to Wednesday holiday, seme banks . chose six-day basis in computing their reserve requirements rather than seven-day period as presented in this table. L.5-6(a) <b%HFIDE]mAL (FR) Table 2. Federal Funds Activity of Major Banks For the Week Ended F e b r u a r y 12, 1964 (All figures are daily averages, in millions) Reserve city banks 37 banks 4-5 reserve 8 New York outside NYC City banks city banks 1. Gross transactions: a. With banks^s (1) Purchases (2) Sales (3) Net purchases or sales (-) ' Four noneeserve city banks b. With Government securities dealers: (l) Purchases Sales Net purchases or sales (-) 2. Total two-way transactions^ 1,5*5 812 411 733 489 17 90 645 401 244 •73 39 307 39 8 299 5 -268 31 -299 •5 71* 405 309 870 446 424 17 493 14 479 95 377 432 -55 -78 900 3' Total net trans' actions * a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 1/ May include modest amounts of transactions with other than domestic commercial * banks (e.g., foreign bank agencies, mutual savings banks). 2/ Each week's offsetting purchases and sales by the same bank. Note that gross purchases in the bank and Government securities dealer categories less two-way transactions equals net purchases of net buying banks. Similarly, total gross sales less twoway transactions equals net sales of net selling banks. Table 3 Daily Federal Funds Activity of Major Banks Week Ended. F e b r u a r y 12, 1964 (in millions of dollars) 1.5.6(b) CONFIDENTIAL (FR) Transactions with banks 1/ Reporting banks and. date All respondents Feb. 6 7 10 11 12 ti NYC Banks Feb. 6 7 10 11 12 37 Reserve City Banks Outside NYC Feb. 6 7 10 11 12 4 Nonreserve City Banks Feb. 6 7 10 11 12 Effective rate (-ner cent1 \ Jb 3 3 3 3 3 V V A A W 1/2 1/2 1/2 1/2 1/2 ^ Transactions with Government securities dealers Total transactions Net Net Net purchases sales of purchases Two-way or net trading of net sales selling buying 5/ (-) banks banks Purchases Sales Purchases Sales l,6o4 1,748 1,365 1,31% 1,402 1,014 1,098 854 822 946 24 31 23 65 65 372 350 267 247 247 738 828 433 462 564 890 952 955 917 903 754 925 807 676 676 500 549 275 227 227 24 31 23 65 65 15 10 5 5 465 554 189 195 195 313 402 642 546 546 830 79% 553 638 726 432 409 510 567 691 347 340 257 235 235 274 274 245 267 369 557 520 308 372 358 504 473 521 535 556 53 47 -213 -163 -198 20 30 5 82 l4o 69 28 28 20 30 5 91 139 78 34 34 -71 -109 -73 -34 -34 aa «*» — °- — — — — •B 647 619 687 607 628 50 4 86 „ 36 36 Borrowings from Reserve Banks 243 333 268 310 275 105 125 779 297 245 263 398 556 , 510 510 30 370 72 72 105 95 409 225 173 • - - — — «— e— mm e~ 10 — — — — — — 10 7 7 — — — — a. •» — — - - - - - 1/ May inninde modest amounts of transactions with other than domestic commercial banks (e.g., foreign bank agencies, ~ mutual savings banks). 2/ Each day's offsetting purchases and sales by the same bank. Note that gross purchases in the bank and Government securities dealer categories less two-way transactions equals net purchases of net buying banks. Similarly, total g r ^ s sales l e ^ two-way transactions ^quals net s^les of net gelling bari^|. ^
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