DEFENSIVE OPEN MARKET OPERATIONS AND THE RESERVE SETTLEMENT PERIODS OF MEMBER BANKS

Authors


  • The authors are indebted to Edward C. Fecht, Donald B. Riefler, and James D. Robinson, III, all of the Morgan Guaranty Trust Co., to Donald C. Miller of the Continental Illinois National Bank and Trust Company of Chicago, and to Bernice K. Burns of The American Bankers Association staff, for the valuable assistance which they provided as this analysis evolved.

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