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

My main point, though, is that if you had allowed this bank—and you probably had some suspicions about it—to participate in the three-month TAF, you would have had all the same protections: the ability to convert to overnight, to primary credit, or to secondary credit; to call the loan; or to ask for more collateral. Am I mistaken? Sandy? Anyone? Why would you have been unable to do the same?

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