Board of Governors of the Federal Reserve System

2 2 3 1 8 1992...... 1 1 1 4 7 1993...... 1 2 2 0 5 1994...... 0 0 0 0...2 0 0 2 1997...... 0 0 0 1 1 1998...... 0 0 1 0 1 1999...... 0 1 0 0 1

2) a three-part plan proposed by the Department of the Treasury (Treasury...2) to temporarily provide a complementary exemption from restrictions

$4.2 billion, or 10.2 per cent, planned last 6ay. The new quarterly pattern...2-1/2 year high reached in early Mvay. This yield, however, was based

2-1/2 years experienced periods of intense panic and dysfunction, during...2 trillion around year-end 2008 to about $71 billion last week. 2 The

2 in table 2 and footnote 2 in table 3.) 3. Seasonally adjusted, break-adjusted...2, column 1) less unadjusted required reserves (table 2, column 3). 5.

Q2 8.1 7.2 12.9 10.0 0.3 Q3 9.1 6.1 14.3 7.2 8.0 Q4 8.0 5.9 12.2 7.7 5.3...3.2 7.2 3.4 8.1 Q2 3.1 0.6 5.6 0.8 5.9 Q3 7.2 -0.8 2.9 2.9 39.2 1. Changes

Q2 Q3 Q4 Q1 Dec. Jan. Feb. Mar. Apr. Reserves of depository institutions2...1.2 25.3 4.4 1.0 215.6 18.3 41.5 219.7 2 Required . . . . . . . . . .

2- that, in the immediate future, any doubts should be resolved in favor...2 per cent. Mr. Robertson stated that he was strongly opposed to granting

2 Before this meeting there had been distributed to the members of the...2-1/2 per cent would be inconsistent with the policy approved at the meeting

5.2 6.7 7.5 5.4 4.2 2004: Q1 5.8 7.0 5.2 5.7 4.3 5.9 6.4 6.3 5.7 3.8 Q2...5.2 6.2 4.6 6.4 6.9 6.2 6.4 4.1 Q3 6.2 6.6 4.8 5.5 4.8 5.2 6.1 6.7 6.7