The gazette also revoked temporary reserves presumably gazetted to cover the rush to Sunny Corner.
Yesterday, as expected, the Fed added temporary reserves to the banking system via $1.5 billion in customer repurchase agreements, a Fed spokesman said.
Often, the Fed responds to the banking system's need for temporary reserves by effecting repurchase agreements on behalf of its foreign central bank customers.
Further loading of the electric grid tie lines that are in place for emergencies with the temporary reserves of neighboring utilities is no solution at all.
The Fed did indirectly add temporary reserves to the money market through $1.5 billion of repurchase agreements effected on behalf of a client.
Yesterday, the Fed indirectly added $3 billion of temporary reserves to the banking system through repurchase agreements on behalf of its customers, usually other central banks.
The Fed injected $1.5 billion of temporary reserves yesterday when the basic lending rate, that for Federal funds, was at 7 7/8 percent.
Captain Jack, like most army officers, looked upon reservations as temporary reserves where Indians would begin to learn about the American way of life.
One such technical move by the Fed yesterday consisted of adding $1 billion of temporary reserves to the banking system.
The Fed again indirectly added $1.5 billion of temporary reserves to the banking system yesterday, but this, too, was expected.