1974 Memos
January 8

Guidelines for Staff on Presentations at FOMC Meetings (PDF)

January 15

1973 Report of Examination of the System Open Market Account (PDF)

January 16

Outline of the research program of the Committee on the Directive (PDF)

January 30

Report of the staff committee on bankers’ acceptances (PDF)

  • Recommendations on Desk Operations in Bankers' Acceptances

February 4

Resignation of David H. Bodner as Deputy Special Manager of the System Open Market Account (PDF)

February 26

Continuing authorizations of the Federal Open Market Committee (PDF)

February 28

Washington Energy Conference Communiqué (PDF)

March 1

Call for a Monday afternoon session of the March meeting of the FOMC (PDF)

March 1

Staff analysis of the current and prospective economic situation in the United Kingdom (PDF)

  • The Economic Situation in the United Kingdom

March 1

Vote to conduct operations consistent with funds rate of 9 percent (PDF)

March 8

Status of paragraph 2 of authorization for domestic open market operations (PDF)

March 11

Recommended changes in paragraph 1(a) of authorization for domestic open market operations (PDF)

March 11

Proposal for expansion of authority to lend securities from System Open Market Account (PDF)

April 3

Background material for discussion of desirability of publishing longer-run targets in policy record (PDF)

April 9

Proposal to bid for Treasury bills on a non-competitive basis (PDF)

  • Review of the Proposal to Bid for Treasury Bills on a Noncompetitive Basis

April 11

Report of Examination of the System Open Market Account and Foreign Currency Operations at the Close of Business, March 8, 1974 (PDF)

April 15

Reports on March meeting of the C-20 Deputies and the April BIS meeting (PDF)

April 24

Vote on raising upper limit of funds rate constraint by 1/4 point (PDF)

May 17

Eleventh Meeting of Governors of Central Banks of the Western Hemisphere (PDF)

May 17

Vote on changing ceiling guideline for funds rate to 11 1/4 percent (PDF)

May 20

Visit to Trinidad and Tobago, April 26-28, 1974 (PDF)

May 21

Report on the May 1974 meeting of the C-20 Deputies in Paris (PDF)

  • Report on the May 7-10, 1974, meeting of the CXX Deputies in Paris

June 10

Vote on raising upper limit of funds rate constraint to 11 3/4 percent (PDF)

June 14

Communiqué of the Committee of Twenty and Guidelines for the Management of Floating Exchange Rates (PDF)

June 17

Memorandum on the Italian economic situation (PDF)

  • The Italian Economic Situation

July 9

Outright System Activity in the Agency Market (PDF)

July 11

Limit on Outright Holdings of Bankers’ Acceptances (PDF)

  • System Operations in Bankers' Acceptances

July 15

Draft Letter to the Secretary of the Treasury Concerning Possible Use by Italy of the Federal Reserve Swap Line (PDF)

July 16

Report on the BIS Governors’ Meeting - July 8, 1974 (PDF)

July 18

Staff committee on possible new means of supplying reserves to the market (PDF)

July 31

FOMC meeting attendance and confidentiality of monetary policy deliberations (PDF)

August 2

Revised copy of Authorization for Domestic Open Market Operations (PDF)

August 13

Safeguarding the confidentiality of FOMC Information (PDF)

August 23

FOMC Meeting Called for September 11, 1974 (PDF)

September 19

Meeting of Board Members and Federal Reserve Bank Presidents, September 11, 1974 (PDF)

October 8

Report on experience with bidding for Treasury bills on a noncompetitive basis (PDF)

October 11

Treasury Department "fact sheet" on the President’s program to control inflation (PDF)

October 14

Report to the FOMC on the Annual Meetings of the Governors of the IMF and the World Bank (PDF)

November 5

Two reports prepared recently for the New York Bank’s Committee on Foreign Account Activities (PDF)

  • Report on Federal Reserve Guarantee of Acceptances Held for Foreign Accounts
  • Report on Foreign Official Investment in the United States -- the Federal Reserve Role

November 21

FOMC Subcommittee proposed program for increased security of Open Market Committee documents and proceedings (PDF)

November 22

Authorization for Domestic Open Market Operations (PDF)

December 12

Report on November Meetings of Working Party 3 and The Group of Ten Deputies (PDF)

December 17

Report on BIS Meeting - December 9, 1974 (PDF)

December 24

First Stage Report of Subcommittee on the Directive (PDF)

  • Improvements in the Directive: Stage I

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Last Update: January 06, 2021