Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

Absolutely. These would function very similarly to the swap lines that we have with the advanced economies. In addition, we are going to allow them to draw only $5 billion at a time at the discretion of the Foreign Currency Subcommittee. When the Foreign Currency Subcommittee makes the determination as to whether or not a drawing should occur, it has the scope and the mandate to look broadly at what is happening in the economy and make sure that the resources are going to be used in a manner that is consistent with the terms and the expectations of the swap agreement.

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