Board of Governors of the Federal Reserve System

1 Second District - New York . . . . . . . . . . . ... II-1 Third District...1 Fourth District - Cleveland . . . . . . . . . . . . . . IV-1 Fifth District

$1.4 billion through sales in the market, redemption of maturing bills...$1 billion. Increased System holdings of U. S. Government securities around

$1.4 billion through sales in the market, redemption of maturing bills...1/2 to 2 3/4 per cent and two were from 2 1/2 to 3 per cent. (The remaining

1, 1940, were approved. Reference was made to action taken by members ...1, 1940, in authorizing the Fed eral Reserve Bank of New York, when market

1 (Footnote:1 This summary has been revised to correct the affiliations...1 0 Participants: Matthew Eichner, Fabio Natalucci, Steve Sharpe, Andreas

1 Domestic 2244.8 2319.6 2344.1 1 2 By instrument 2244.8 2319.6 2344.1...1 Total 3413.4 3863.5 4011.1 1 2 Open market paper 245.1 317.1 -169.4

1)(B) of the FDI Act (12 U.S.C. § 1831o(f)(1)(B)), the Bank is subject...1) of the FDI Act (12 U.S.C. § 1831o(d)(1)) restricting the making of

1.6 1.0 1.6 1.7 1.7 30 31 Federal government 0.7 0.7 0.6 1.5 1.8 1.0 1.7...5.1 5.3 6.0 6.4 7.0 43 44 Private pension funds 1.3 1.6 1.8 1.7 1.7 1.8

1.7 0.9 38 39 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.2 0.1 0.3...1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 3 4 Treasury securities 1.2 2.3 8.9 9.4

data (Table 1 of the release) were revised in most cases by less than ....1 Break-adjusted data (Table 3 of the release) incorporate updated break