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

Okay. Thank you. Now, I’d like to poll the presidents on the following question. Assuming that we do take the measures that were described by Governor Kroszner and President Geithner to work with President Hoenig on improving our collateral and surveillance procedures, are you more comfortable with the extension in terms of the ability to manage credit risk? I might add, if you are a negative, would your view be changed if we broke this into a 28-day and an 84-day so that you would have the option of directing a bank to the 28-day if that were your decision? Let me ask people just to get a quick response. President Rosengren.

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