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L.6.2 November 29, 1962 CONFIDENTIAL (FR) Table 1. Reserve Positions of Major Banks Reserve Period Ended September 26, 1962 (All dollar figures are daily averages, in millions) 45 reserve city banks 1, 2. 34. 5- Reserve excess or deficiency (-) Pour Reserve city banks nonreserve . 37 banks 8 New York outside NYC city banks:V City banks 14 Less: Carry-over reserve deficiency 5 Less: Borrowings from Reserve Banks 88 Less: Net Federal funds purchases or sales (-) 2/ 7 7 1 5 -- 35 53 -- 795 674 121 -104 -874 -702 -172 105 -- Equals: Net basic reserve surplus or deficit (-): a. In millions of dollars b. As per cent of average required reserves 10$ % 2056 93# l/ First half of reserve computation period. 2/ For details, see following table. 1 at , 3 t'jtz h III L.6.2(a) CQNDIEENTIAL (FR) Table 2. Federal Funds Activity of Major Banks For the Week Ended September 26, 1962 (All figures are daily averages, in millions) Reserve city banks 45 reserve 8 New York 37 banks city banks City banks outside NYC Four nonreserve city banks 1. Gross transactions: a. With banks"*": (].) Purchases (2) Sales (3) Net purchases or sales (-) b. With Government securities dealers: (l) Purchases (2) Sales (3) Nat purchases or sales (-) 2. Total two-way transactions^ 1,781 860 1,089 455 692 405 101 921 63k 287 -101 80 2C6 65 25 15 181 126 UO -166 755 too 275 1,106 674 432 - a# am „ mm 3 - 3 -- 3* Total net transactions a. Net purchases of net buying banks b. Net sales of net selling banks c. Net purchases or sales (-) 311 795 — - 674 311 104 121 -104 1/ May include modest amounts of transactions with other than domestic commercial banks (e.g., foreign bank agencies, mutual savings banks). 2/ Offsetting purchases and sales by the same bank. Note that gross par chases 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. 1.6.2(b) Table 3 Daily Federal Funds Activity of Major Banks Week Ended September 26, 1962 (in of dollars) CONFIDENTIAL (PR) Transactions with banks l/ Reporting banks and date All respondents Sept. tiO 21 24 11 0 NYC Banks Sept. 20 21 24 25 26 37 Reserve City Banks Outside NYC Sept. 20 21 2k 25 26 4 Nonreserve City Banks Sept. 20 21 Effective rate (per cent] 2 2 2 2 3 3A 3A 3/4 3A . 1,769 1,984 1,658 1,593 1,494 1,196 1,137 911 1,121 -984 896 573 1,019 961 1,032 632 461 160 97 55 101 1 265 195 271 210 138 541 924 623 574 345 1,313 l,.l64 1,086 1,079 1,195 25 30 42 20 403 862 608 633 634 917 240 158 227 . 190 138 138 £ 46 40 48 34 372 436 4o4 433 319 573 846 639 85 104 524 155 Net Net Net purchases sales of purchases Two-way or net trading of net sales selling buying i/ (-) banks banks Sales 70 361 Total transactions Purchases 378 587 2k 25 26 Sales Purchases Transactions with Government securities dealers 87 15 16 11 11 11 7 2 617 425 375 149 307 198 198 195 . 450 556 453 445 277 635 392 632 * 531 367 Borrowings from Reserve Banks 678 772 454 548 828 29 12 578 862 608 492 l4l 5 5 629 912 475 288. 433 425 262 - 25 268 20 20 15 160 -160 104 57 101 99 12 234 ; 29 t44 -104 - 57 -101. - 99 "U, l/ May modest amounts of transactions with other than domestic ccaanercial banks (e.g. , foreign bank 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 dealer categories less two-way transactions equals net purchases of net buying banks. Similarly, total ^ross sales less two-vay transactions equals net sales of net selling banks.
@FedFRASER