Board of Governors of the Federal Reserve System

2) To make such other shifts of securities in the account (which may be...2-

2) to make shifts, up to an aggregate of $50,000,000, of securi ties in...2-

2 3 5 7 10 20 30 Years Ahead ~___~ -2- over the intermediate term will...2 and 2-1/2 percent against the euro and yen, respectively, over the intermeeting

2.7 Total reserves 6.6 2.9 2.8 0.1 3.2 Monetary base 9.2 7.7 6.5 7.8 8.9...3.2 Memo Nonbank commercial paper 0.3 0.9 2.2 2.4 0.6 1/ QIV to QIV. 2

M2 1.4 3.6 8.0 5.0 4.9 M3 8.2 6.1 7.6 7.3 7.2 Domestic nonfinancial debt...2 6 M2 8 7 6 M3 7-1/4 6-1/2 5-3/4 Associated federal funds rate range

2 5 , 2008) . T h e t i m e for f i l i n g c o m m e n t s has exp i ...billion2, is the 15th largest bank in Spain3.[footnote 2. Asset data are

2 required oaths of office. Upon motion duly made and seconded, and by...2 of the supplementary report: The market purchases on Friday included

2.1 - 2.0 M2 Velocity (left scale) 1.9 - M2 Opportunity Cost* 1.8 - (right...M2 has slowed on average in recent months. M2 expanded at a 3-1/4 percent

2/ rose slightly in September; over the third quarter it grew at an annual...M2 4/ and M3 5/) also increased only a little. 2/ Private demand deposits

2). After tax payments cleared, the surge in M2 reversed, and consequently...M2 is estimated to be advancing at around a 5-1/2 percent annual rate,