1961 Memos
February 24

Pro Forma Allocation of SOMA Securities (PDF)

February 28

Suggested Clarification of Statement of Procedure for Allocating SOMA (PDF)

May 3

Continuing Operating Policy Statements (PDF)

May 26

1960 Financial and Operating Data for US Government Securities Dealers (PDF)

June 1

Rouse Testimony before Joint Economic Committee (PDF)

June 5

Supporting Documents for June 6, 1961 Meeting (PDF)

June 26

Dealer Financial Statements (PDF)

June 27

Foreign Currency Issues (PDF)

September 28

Letter from President Allen Re Discussion of Changes in the Committee's Procedures (PDF)

October 12

Letters from Boston and Richmond Reserve Banks Re Procedures and Directive (PDF)

  • Letter from Boston Reserve Bank
  • Letter from Richmond Reserve Bank

November 3

System Operations in Foreign Currency (PDF)

  • System Operations in Foreign Currencies
  • Proposed Actions by the Board of Governors
  • Instructions Regarding Open Market Transactins in Foreign Currencies
  • Responsibility of the Treasury and the Federal Reserve for Foreign Currency Operations
  • Guidelines for System Open Market Operations in Foreign Currencies
  • Aims and Scope of System Foreign Exchange Operations
  • Legal Aspects of Proposed Plan for Federal Reserve Operations in Foreign Currencies

November 6

Letters from New York and Cleveland Reserve Banks Re Operating Procedures and Directive (PDF)

  • Letter from New York FRB
  • Letter from Cleveland FRB

November 7

Letter from Dallas FRB Re Operating Procedures and Directive (PDF)

November 13

Letter from Kansas City FRB Re B113 Operating Procedures and Rules (PDF)

November 13

Letter from San Francisco FRB Re Discussion of Changes in the Committees Procedures (PDF)

November 16

Summary of Meeting on November 16, 1961 (PDF)

November 17

Use of the Discount Rate (PDF)

November 20

Credit Needs for Economic Expansion (PDF)

November 21

Seminar on Reserve Projections and Estimations (PDF)

November 24

Letter from President Bopp Re Operating Procedures, the Directive, and Continuing Instructions (PDF)

November 27

Letters from Presidents Bryan and Deming Re Operating Procedures and the Directive (PDF)

  • Letter from President Bryan
  • Letter from President Deming

December 8

Seminar on Reserve Projections and Estimations (PDF)

December 8

Collation of Suggestions on Proposed Changes in Open Market Committee Procedures (PDF)

December 12

System Operations in Foreign Currencies (PDF)

  • Proposed Actions by the Board of Governors
  • Instructions Regarding Open Market Transactions in Foreign Currencies
  • Guidelines for System Open Market Operations in Foreign Currencies
  • Aims and Scope of System Foreign Exchange Operations
  • Possible Amendments to Law

December 14

The Balance-of-Payments Impact of a Small Increase in the Treasury Bill Rate (PDF)

December 15

Monetary Principles Underlying Federal Reserve Holdings of Foreign Currencies (PDF)

December 20

Report of Working Party 3 (PDF)

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Last Update: May 28, 2020