Board of Governors of the Federal Reserve System

Treasury Yields Less Inflation-Indexed Treasury Yields May 1, 2003 - September...off-the-run Treasury yield curve. September 16, 2003 105 of 106 Exhibit

day-to-day basis, but have shown no particular trend movement in one direction...Treasury]. Should intervention be joint, separate, or should the Treasury

to remove the effects of printer- and scanner-introduced tilting) and ...to remove dark spots caused by staple holes, hole punches, and other blemishes

Treasury (in consultation with the President) determined, on the recommendation

in-the files of the Committee. Upon motion duly made and seconded, and...Treasury to the Swiss National Bank and some payoff on maturing Treasury

Treasury/Agency securities1 Municipal securities1 Corporate market instruments1

Treasury could have worked to mitigate the effects of the financial turmoil...1To be sure, the financial distress also directly affected the behavior

Transfers F.9 14 Derivation of Measures of Personal Saving F.10 15 L.10...Treasury Currency F.201 37 L.201 82 U.S. Deposits in Foreign Countries

the largest increase in nearly a decade. The balance of payments deficit...to 3-1/2 per cent--and 2 weeks later it announced its second reduction

Treasury, corporate, and municipal securities had risen further to new...Treasury bills had fluctuated over a relatively wide range since early