Domestic open market operations during 2000

Open market operations ; Monetary policy ; Federal Open Market Committee

Highlights of domestic open market operations during 1998

The Trading Desk at the Federal Reserve Bank of New York uses open market operations to implement the policy directives of the Federal Open Market Committee (FOMC). The FOMC expresses its short-term objective for open market operations as a target level for the federal funds rate--the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions. To keep the federal funds rate near the level specified by the FOMC, the Desk uses open market operations to bring the supply of balances at the Federal Reserve into line with the demand for them. In 1998, the level of balances that depository institutions were required to hold at the Federal Reserve continued to decline, to historic lows. The primary reason for this was the ongoing proliferation of retail "sweep" programs, which transfer depositors' funds from transaction accounts that are subject to reserve requirements into other deposit accounts that are not. In past years, declines in required balances had been associated with greater volatility in the federal funds rate because depository institutions have less flexibility in managing their daily balance positions. However, through the first three quarters of 1998, the funds rate behaved much as it had in 1997, even though required balances were lower. In the final quarter of 1998, funds rate volatility rose when market participants evinced greater concerns about the credit quality of their counterparties at a time of increased uncertainty in financial markets.Open market operations ; Monetary policy ; Federal funds market (United States)

Open market operations during 1996.

During 1996, the Trading Desk at the Federal Reserve Bank of New York managed reserve conditions with the objective of maintaining the federal funds rate around the level desired by the Federal Open Market Committee (FOMC). As was the case last year, the need for permanent reserve additions was relatively modest as demand for currency grew moderately and reserve requirements declined because of the continued spread of sweep programs at commercial banks. The decrease in operating balances of depository institutions at Reserve Banks had an impact on bank reserve management strategies and the Desk's choice of operations. The Desk paid close attention to the daily pattern of reserve demands and, by tailoring its operations accordingly, maintained funds trading close to the FOMC's desired rate.Open market operations ; Monetary policy ; Federal Open Market Committee ; Federal funds market (United States)

Financial Literacy and Behavior in Credit Unions: An Exploration of Member Financial Literacy and Financial Behavior in the Credit Union Model

Financial literacy is economically essential and plays a critical role in an individual’s overall financial capability, yet financial literacy is declining. Financial knowledge has been linked to financial behavior, with financially literate individuals displaying positive financial behaviors while those with lower financial knowledge exhibit poor financial behavior. Credit unions are member-owned financial cooperatives whose purpose is to support their membership’s social and economic goals. Credit unions are well-positioned to deliver financial literacy to members (McKillop & Wilson, 2015). This study examined financial literacy and behavior among credit union members and compared the financial literacy of credit union members with results from the 2018 National Financial Capability Study. The findings indicate that credit union members answered more financial knowledge questions correctly, on average, than National Financial Capability Study respondents. The study’s findings also indicate a positive correlation between self reported financial knowledge and actual financial knowledge. Results indicate that credit union member financial literacy is associated with positive financial behavior

Open market operations during 1997

In 1997 the Trading Desk at the Federal Reserve Bank of New York managed reserve conditions with the objective of maintaining the federal funds rate around the level desired by the Federal Open Market Committee. In 1997 the portfolio of domestic securities in the System Open Market Account expanded by a record $41 billion (excluding all temporary operations), ending the year at$448 billion. Outright purchases of Treasury securities totaled $44 billion, offset to a small degree by redemptions of some Treasury and federal agency issues. The growth in the portfolio during 1997 was significantly higher than the$15 billion increase recorded in the preceding year. The Desk closely observed the behavior of the federal funds rate for any indication that the decline in operating balances associated with the spread of retail sweep programs or any other development was impeding its ability to control the funds rate or contributing to volatility in the rate. Volatility in the federal funds rate did not increase from the previous year, but it remained above the levels that had characterized earlier years.Open market operations ; Monetary policy ; Federal funds market (United States) ; Federal Open Market Committee

Dissociative charge transfer reactions of Ar+, Ne+, and He+ with CF4 from thermal to 50 eV

Journal ArticleGuided ion-beam techniques are used to measure the cross sections for reaction of CF4 with Ar+, Ne+, and H e + from thermal to 50 eV. Dissociative charge transfer followed by successive loss of F atoms are the major processes observed. Only CFx+ (x = 1,2,3) products are observed in the reactions of Ar+ and Ne+. With He+, in addition to the CFx+ products, both C+ and F+ are seen at kinetic energies. Reaction rates for these reactions are also given and compared with previous measurements. It is found that the energy dependence of the cross sections can be understood by considering the energies needed to access specific electronic states of the CF4+ ion

Kinetic energy dependence of dissociative charge-transfer reactions of He+, Ne+, Ar+, Kr+, and Xe+ with silane

Journal ArticleGuided ion-beam techniques are used to measure the cross sections as a function of kinetic energy for reaction of SiH4 with He +, Ne +, Ar +, Kr +, and Xe +. State-specific data for the 2P3/2 ground spin-orbit states of Kr+ and Xe+ are also obtained

Groundwater Quality in Watersheds of the Kentucky River, Salt River, Licking River, Big Sandy River, Little Sandy River, and Tygarts Creek (Kentucky Basin Management Units 1, 2, and 5)

The Kentucky Geological Survey, University of Kentucky, and the Kentucky Division of Water (of the Kentucky Environmental and Public Protection Cabinet) are evaluating groundwater quality throughout the commonwealth to determine regional conditions, assess impacts of nonpoint-source pollutants, establish a basis for detecting changes, and provide essential information for environmental-protection and resource-management decisions. These evaluations are being conducted in stages. Under the Kentucky Watershed management Framework, Kentucky’s 12 major river basins and tributaries of the Ohio River were grouped into five basin management units (BMU’s). A previous report summarized and evaluated groundwater quality in BMU 3 (watersheds of the Upper Cumberland River, Lower Cumberland River, Tennessee River, the Jackson Purchase Region, and adjacent Ohio River tributaries). That report is available on the KGS Web site (www.uky.edu/KGS/water/RI_15/). This report summarizes results of analyses of groundwater samples from wells and springs in BMU 1 (Kentucky River watershed and adjacent Ohio River tributaries), BMU 2 (Salt River and Licking River watersheds and adjacent Ohio River tributaries), and BMU 5 (Big Sandy River, Little Sandy River, and Tygarts Creek watersheds, and adjacent Ohio River tributaries). Analytical results for selected water properties, major and minor inorganic ions, metals, nutrients, pesticides, and volatile organic chemicals were retrieved from the Kentucky Groundwater Data Repository. The repository is maintained by the Kentucky Geological Survey and contains reports received from the Division of Water’s Ambient Groundwater Monitoring Program as well as data from investigations by the U.S. Geological Survey, U.S. Environmental Protection Agency, U.S. Department of Energy, Kentucky Geological Survey, Kentucky Division of Pesticide Regulation, and other agencies. The Kentucky Division of Water provided water-quality standards. Statistics such as the number of measurements reported, the number of sites sampled, quartile concentration values, and the number of sites at which water-quality standards were met or exceeded are used to summarize the data. Maps show sampled locations and sites where water-quality standards were met or exceeded. Cumulative data plots are used to show concentration distributions in each basin management unit. Box-and-whisker diagrams compare values between physiographic regions, major watersheds, wells and springs, and total versus dissolved metal concentrations. Plots of analyte concentrations versus well depth compare groundwater quality in shallow, intermediate, and deep groundwater flow systems. Table A1 summarizes the findings. General water-quality properties, inorganic anions, and metals are primarily controlled by natural factors such as bedrock lithology. Some exceptionally high values of conductance, hardness, chloride, and sulfate may be affected by nearby oil and gas production or improperly sealed oil and gas wells, leaking waste-disposal systems, or other man-made factors, and some exceptionally low pH values probably result from acid mine drainage. Nitrate concentrations show a strong contribution from agricultural and waste-disposal practices, whereas orthophosphate and total phosphorus concentrations are largely determined by the chemical composition of limestone bedrock and coal strata. Synthetic organic chemicals such as pesticides and refined volatile organic compounds do not occur naturally in groundwater. Although these chemicals rarely exceed water-quality criteria in the project area, the detection of these man-made chemicals in springs and shallow wells indicates there has been some degradation of groundwater quality. Monitoring of these synthetic, potentially health-threatening chemicals should continue, and efforts to protect the groundwater resources from them should be a priority for the commonwealth of Kentucky