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

I think we would concede that point, that one could have a break point at 28 days or 30 days, where beyond 30 days you had this overcollateralization requirement, and less than 30 days—it could be zero—that is really for you to decide. But to us it is not really compelling one way over the other.

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