Federal Reserve Policy Actions: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, First Session ... October 15, 1979 |
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Common terms and phrases
actions adjustment agency securities ahead announced balance bank credit bank reserves borrowings branches and agencies Chairman Volcker commodity markets Congress cost-of-living daily average decline deficit demand deposits dollar Edge corporations effect energy prices Eurocurrency Eurodollar federal funds rate Federal Open Market Federal Reserve Banks Federal Reserve System fiscal foreign banks foreign exchange markets going growth of money growth rates increase institutions interest rates kind M₁ M₂ marginal reserve requirement maturities of less MELTZER member banks million moderate monetary base monetary policy money and credit money growth money market money stock money supply months Open Market Committee open market operations original maturities percent pressure productivity prospect question rate of inflation recent recession repurchase agreements restraint Senator MORGAN Senator SARBANES Senator STEVENSON Senator STEWART seven-day short run short-term situation tax cut total managed liabilities Treasury U.S. branches U.S. government unemployment
Popular passages
Page 70 - ... any obligation with an original maturity of less than one year that is issued or undertaken as a means of obtaining funds to be used in its banking business in the form of a promissory note, acknowledgment of advance, due bill, ineligible bankers...
Page 65 - Evidences an indebtedness arising from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States or any agency thereof that the bank is obligated to repurchase...
Page 121 - To implement this policy, System open market operations until the next meeting of the Committee shall be conducted with a view to maintaining the prevailing firm conditions in the money market; provided, however, that operations shall be modified if bank credit appears to be deviating significantly from current projections or if unusual liquidity pressures should develop.
Page 57 - Arises from a borrowing by a member bank from a dealer in securities, for 1 business day, of proceeds of a transfer of deposit credit in a Federal Reserve Bank (or other immediately available funds) , commonly referred to as "Federal funds", received by such dealer on the date of the loan in connection with clearance of securities transactions.
Page 122 - ... the US government, and foreign banks and official institutions less cash items in the process of collection and Federal Reserve float...
Page 44 - This action involves placing greater emphasis in day-to-day operations on the supply of bank reserves and less emphasis on confining shortterm fluctuations in the federal funds rate.
Page 70 - For the purposes of this part, the term "deposits" shall be deemed to include any promissory note, acknowledgment of advance, due bill, or similar instrument that is issued by a member bank principally as a means of obtaining funds to be used in its banking business, except any such...
Page 63 - Act and § 204.2 (a) and subject to paragraph (c) of this section, the Board of Governors of the Federal Reserve System hereby prescribes the following reserve balances which each member bank of the Federal Reserve System is required to maintain on deposit with the Federal Reserve Bank of its district...
Page 44 - managed liabilities" ~ liabilities that have been actively used to finance rapid expansion 1n bank credit. This was also approved unanimously by the Board. 3. A change In the method used to conduct monetary policy to support the objective of containing growth in the monetary aggregates over the remainder of this year within the ranges previously adopted by the Federal Reserve.
Page 70 - Deposits, such as Christmas club accounts and vacation club accounts, which are made under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits have been made during a period of not less than 3 months, constitute "time deposits, open account," even though some of the deposits are made within 30 days from the end of such period.