Board of Governors of the Federal Reserve System

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

2/ and Rosine,2/ Economists, Division of Research and Statistics, Board...M2, and M3 at annual rates of around 5-1/2, 7-1/2, and 9 percent respectively

2 percent for M2, and 6 to 9 percent for M3. The associated range for ...M2 and M3 at annual rates of around 7-1/2 and 9 percent during the period

M2 and 3-1/2 to 7-1/2 percent for M3. The Committee set the associated...2 to 10-1/2 percent. It was understood that all these ranges were provisional

2 94 4 n.a. 3 95 3 Q4... n.a. n.a. n.a. n.a. 2 n.a. n.a. 3 96 2 n.a. 2...2 n.a. n.a. 3 93 4 n.a. 4 90 6 Q2... n.a. n.a. n.a. n.a. 5 n.a. n.a. 2

0.2 percentage point further in July to 78.2 percent; during the past ...2 percent on balance; the dollar depreciated almost 5-1/2 percent against

2 to 4-1/2 percent, 5 to 8 percent, and 6 to 9 percent, respectively. ...2 to 10-1/2 percent. These ranges will be reconsidered in July or at any

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

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

Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 1998...... 87 4 15 24 45 .198 .008 .036 .051