Board of Governors of the Federal Reserve System

2 - Transcript of Federal Open Market Committee Meeting of November 21...2 to 2-1/2 percent. Yes, Willis. MR. WINN. Scott, [you mentioned] the

2 8(b)(3) of the Federal Deposit Insurance Act, as amended (the “FDI Act...2. (a) Bancorp shall not declare or pay any dividends without the prior

2 position be omitted from the record, unless the person making the state...2) whether the changes referred to above should be made in the present

2. -2- policy would be on hold for longer than previously anticipated ...M2 and M3 grew at rates of 7 percent and 81/2 percent, respectively. (

2 NOW, THEREFORE, Bancshares and the Reserve Bank agree as follows: Source...2, 2010 and any other supervisory action taken by the Bank's federal or

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

209.2 288.6 388.2 489.2 497.6 440.2 538.3 548.7 694.6 957.9 1 2 Domestic...3.2 1.2 24 25 Total net lending 209.2 288.6 388.2 489.2 497.6 440.2 538.3

5.2 3.1 2.8 2.8 1.8 3.9 6.2 31 32 Rest of the world 0.5 -0.1 2.8 2.6 0.6...8.2 10.0 16.9 19.4 14.6 13 14 Farm 2.2 1.9 2.0 2.2 1.8 1.1 2

2- "It was also understood that open market operations should be carried...2 per cent prescribed in the existing au thorization to the Federal Reserve

2 percent against the European currencies while showing little net change...2 percent, about the upper end of the 9 1/4 - 9 1/2 percent range anticipated