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Board of Governors of the Federal Reserve System
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Board of Governors of the Federal Reserve System


Monetary Policy Report submitted to the Congress on July 21, 2009, pursuant to section 2B of the Federal Reserve Act

ABCP asset-backed commercial paper
ABS asset-backed securities
AIG American International Group, Inc.
BHC bank holding company
BOJ Bank of Japan
CAP Capital Assistance Program
CDS credit default swap
C&I commercial and industrial
CMBS commercial mortgage-backed securities
CP commercial paper
CPFF Commercial Paper Funding Facility
CPH compensation per hour
CPP Capital Purchase Program
CRE commercial real estate
DPI disposable personal income
ECB European Central Bank
ECI employment cost index
FDIC Federal Deposit Insurance Corporation
FOMC Federal Open Market Committee; also, the Committee
GDP gross domestic product
GSE government-sponsored enterprise
IRA individual retirement account
Libor London interbank offered rate
LLC limited liability company
MBS mortgage-backed securities
NIPA national income and product accounts
NOW negotiable order of withdrawal
OCC Office of the Comptroller of the Currency
OIS overnight index swap
OTTI other-than-temporary impairment
PCE personal consumption expenditures
PPIP Public-Private Investment Program
SCAP Supervisory Capital Assessment Program
SPV special purpose vehicle
TAF Term Auction Facility
TALF Term Asset-Backed Securities Loan Facility
TARP Troubled Asset Relief Program
TIPS Treasury inflation-protected securities
VRDO variable-rate demand obligation
WTI West Texas intermediate

Last update: July 21, 2009