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L.6.2 November 28, 1962 CONFIDENTIAL (FR) Table 1. Reserve Position^ of Major Banks Reserve Period Ended September 19> I962 (All dollar figures are daily averages, in millioog) # 45 reserve city banks # 30 28 2 22 2. Less: Carry-over reserve deficiency 4 3 1 -- Less: Borrowings from Reserve Banks 5 -- 5 -- 4. Less: Net Federal funds purchases or sales (-) 2/ 1,06k 963 81 -1,043 -958 1 1 00 1X3 VI 1. Reserve excess or deficiency (-) 3- # • 5. Equals: Net "basic reserve surplus or deficit (-): In millions of dollars b. As per cent of average required reserves a. # Four nonreeerve city banks! Reserve city banks 8 New York 37 banks outside NYC City banks -12 # -27# 1/ Second half of reserve computation period. 2/ For details, see following table. 107 97$ .,, n oi K A v DEC 3 - Research ' WJi Library L,6.2(a) CQliPIDEUTIAL (PR) Table 2. Federal Funds Activity of Major Banks For the Week Ended September 19# 1962 (All figures are daily averages, in millions) Reserve city banks 37 banks 8 New York 45 reserve outside NYC City banks city banks 1 Four nonreserve city banks Gross transactions: a. With banks"*": (l) Purchases (2) Sales (3) Net purchases or sales (-) b. With Government securities dealers: (l) Purchases (2) Sales (3) Net purchases or sales (-) 2. Total two-way transactions^ 2,002 801 1,3*5 369 657 432 3 88 1,201 976 225 -85 47 184 30 23 17 l6l -137 7 -144 651 392 259 1,398 983 415 3 - - 33* 88 81 -85 " -- 3. Total net transactions a. Net purchases of net buying banks b. Net sales of net selling tanks' c. Net purchases or sales (-) 334 1,064 983 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 two-way transactions equals net sales of net selling banks. Table 3 Dally Federal. Funds Activity of Major Banks Week Ended. September 19, 1962 (in millions of dollars) L.6.2(b) CONFIDENTIAL (PR) Transactions with tanks l/ Reporting banks and date Effective rate [per cent) Purchases Sales Transactions with Government securities dealers Purchases Total transactions Sales Net Net Net Two-way purchases sales of purchases or net trading of net sales selling buying 2/ (-) banks banks Borrowings from Reserve Banks All respondents 488 1,350 551 247 799 65 . 792 . 1,773 Sept: 13 3 965 405 888 658 1,370 1,986 43 175 14 3 , 1,005 182 694 1,330 325 * •838 1,969 55 2 3/4 17 1,119 1,662 543 174 2,186 45 569 937 2 3/4 18 1,043 33 451 1,494 687 156 2,144 982 37 2 3/4 19 0 NYC Banks 953 323 1,211 65 51 271 953 Sept. 13 4 18 396 1,336 392 957 957 l4 889 889 430 56 30 1,289 374 17 1,182 1,182 18 361 1,509 343 35 18 985 4o8 28 20 • 1.013 4l6 27 1,395 19 37 Reserve City Banks Outside NYC - 118 164 485 515 562 195 397 Sept. 13 406 262 76 644 421 171 330 25 l4 440 264 126 165 24 275 ' 680 . 304 17 21 458 10 156 508 207 479 676 18 162 477 278 n6 10 457 745 31? 19 4 Nonreserve City Banks 36 36 ' 36 Sept. 13 69 "I - • 75 . 1 75 14 - 160 160 .160 17 85 85 85 18 - 105 108 108 3 3 19 1H X U i # LR™' tXS J B f nou OUU UV UVOCUJLO ucwuoc WJL AVWIU I »!&• u^ l/ May modest amounts of transactions with other than domestic commercial banks (e.g., foreign tank agencies, ~~ mutual savings banks). *2/ day's offsetting purchases and. sales by the same bank. Note that gross purchases In the bank and Government securities Hmoimr categories less two-way transactions equals net purchases of net buying banks. Similarly, total gross sales less two-way transactions equals net sales of net selling banks. • - e
