1973 Memos
January 3

Date of March FOMC meeting (PDF)

January 5

Final report of the ad hoc staff committee appointed to review the open market committee's By-laws, Rules, and Regulation (PDF)

  • Final Report on Committee's Rules and Regulation
  • Report of Staff Committee on FOMC By-Laws, Rules and Regulation
  • Federal Open Market Committee: Regulation Relating to Open Market Operations of Federal Reserve Banks
  • Federal Open Market Committee: Rules Regarding Availability of Information
  • Sources of the provisions of proposed new FOMC Rules of Organization, Rules of Procedure, and Regulation
  • Disposition of provisions of existing FOMC By-Laws, Rules of Organization, Rules of Procedure, and Regulation

January 17

Transmittal of approved changes to FOMC By-Laws, Rules, and Regulation (PDF)

  • Open Market Operations of Federal Reserve Banks: Revision of Regulation
  • Federal Open Market Committee: Rules of Organization
  • Rules Regarding Availability of Information

January 22

Safeguarding the Confidentiality of FOMC Information (PDF)

  • Market Tone, Reserve Position Displacing Money Stock as Main Objectives for Monetary Policy
  • Continued 4 1/2 Percent Discount Rate is Dependent on Total Borrowing at Fed in Next 2 Weeks

January 23

March FOMC meeting date (PDF)

March 1

Notation Vote to raise upper limit of funds rate to 7 percent (PDF)

March 7

SEC proposal to revise their net capital rule (PDF)

March 12

Proposed changes in titles of Committee policy instruments and amendments to Foreign Currency Authorization (PDF)

March 12

Proposed revisions in guidelines for System operations in agency issues (PDF)

March 12

Recommendation that Committee establish positions of Deputy Manager and Deputy Special Manager (PDF)

March 16

Foreign Official Holdings of United States Treasury Debt--Issues and Problems (PDF)

April 9

Review of System Lending of Securities (PDF)

April 23

Report on banks' operations during exchange market crisis preceding February 12 devaluation (PDF)

May 8

FOMC Counsel positions (PDF)

May 10

Reserve Requirements on CD's, Eurodollars, and related proposals (PDF)

June 11

Review of RPD Experiment (PDF)

June 12

Formation of a Subcommittee to analyze the publication of quantitative specifications relating to the domestic open market policy directive (PDF)

  • Legal aspects of publication of quantitative specifications relating to the domestic open market policy directive

June 18

Election of secretary for the FOMC (PDF)

July 2

Disposition of contingent Committee action of June 29, 1973 (PDF)

July 12

Aggressive Bank Contacts: Follow-up (PDF)

July 19

Subcommittee on Directive (PDF)

August 13

First Report of the Staff Committee on Lagged Reserve Accounting (PDF)

August 14

Proposed actions with respect to bankers' acceptances (PDF)

  • Revocation of Regulations B and C regarding bank acceptances

September 5

Insert for June 27, 1973, JEC transcript, on problems of controlling the money supply (PDF)

September 11

FOMC meeting schedule for 1974 (PDF)

September 19

Staff committee on bankers' acceptances (PDF)

September 20

Views on lagged reserve accounting (PDF)

October 3

Dealer association request for a broadening of System security lending (PDF)

October 12

Legal aspects of publications of quantitative specifications relating to the domestic open market policy directive (PDF)

  • Legal aspects of publications of quantitative specifications relating to the domestic open market policy directive

October 23

FOMC member contacts with Trading Desk (PDF)

November 15

FOMC Policy Records (PDF)

  • Note on potential misinterpretations of Committee's 6-month targets for monetary aggregates

November 28

FOMC meeting dates (PDF)

December 3

Chairman Burns informed Under Secretary Volcker that the expiration of the debt ceiling legislation halted any new debt creation (PDF)

December 10

FOMC Meeting Dates (PDF)

December 11

FOMC Policy Records (PDF)

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Last Update: January 06, 2021