Board of Governors of the Federal Reserve System

balance have continued under upward pressure, against the back ground ...balance of payments deficit on the liquidity basis rose sharply in the

balance showed little or no further improvement from the third-quarter...balance of payments statistics were buoyed by large temporary inflows

balance improved somewhat in December, as imports fell off. The over-all...balance of payments has been in substan tial deficit in recent weeks.

balance since August. Inflows of consumer-type time and savings deposits...balance was heavily in deficit in October. In recent weeks net outflows

balance from August to November, rose somewhat in December, while both...balance of payments remains in deficit. In light of the foregoing developments

balance in recent months, and the rate of increase in average prices of...balance, and the Treasury completed a highly successful refunding. In

balance improved in June, and the balance on goods and services was in...balance of payments. To implement this policy, while taking account of

balance between inventories and sales is emerging. Upward pressures on...balance of payments deficit has remained substantial and is a serious

balance, since the June Greenbook. We assume that long- term rates will...balance, since the June Greenbook. Stock prices have been supported by

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files