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Authorized for public release by the FOMC Secretariat on 2/3/2021 BOARD OF GOVERNORS OFTHE FEDERAL RESERVE SYSTEM Office To Correspondence Board Members (individually From Date March 1, 1976 Subject: Murray Altmann STRICTLY CONFIDENTIAL (FR) CLASS I-FOMC For your information, pursuant to discussion at the February FOMC meeting, the System has agreed to a drawing of $250 million by the Bank of Italy, in addition to the $500 million made available earlier. The agreement followed conversations between Governor Wallich and Governor Baffi concerning available take-out credits and determination by Chairman Burns that those credits were satisfactory. cc: Messrs. Axilrod O'Connell R. Solomon Coyne Keir Gramley Bernard Altmann Broida Ms. Farar Authorized for public release by the FOMC Secretariat on 2/3/2021 TELEGRAM FEDERAL RESERVE COMMUNICATIONS SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON March 1, 1976 STRICTLY CONFIDENTIAL (FR) CLASS I-FOMC MORRIS - BOSTON VOLCKER - NEW YORK EASTBURN - PHILADELPHIA WINN - CLEVELAND BLACK - RICHMOND KIMBREL - ATLANTA MAYO - CHICAGO LEONARD - ST. LOUIS MACLAURY - MINNEAPOLIS BOYSEN - KANSAS CITY BAUGHMAN - DALLAS BALLES - SAN FRANCISCO For your information, pursuant to discussion at the February FOMC meeting, the System has agreed to a drawing of $250 million by the Bank of Italy, in addition to the $500 million made available earlier. The agreement followed conversations between Governor Wallich and Governor Baffi concerning available take-out credits and determination by Chairman Burns that those credits were satisfactory. ALTMANN Authorized for public release by the FOMC Secretariat on 2/3/2021 TELEGRAM FEDERAL RESERVE COMMUNICATIONS SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON March 1, 1976 STRICTLY CONFIDENTIAL (FR) CLASS I-FOMC HOLMES - NEW YORK The following message has been sent to members of the FOMC and other Reserve Bank Presidents: "For your information, pursuant to discussion at the Federal FOMC meeting, the System has agreed to a drawing of $250 million by the Bank of Italy, in addition to the $500 million made available earlier. The agreement followed conversations between Governor Wallich and Governor Baffi concerning available take-out credits and determination by Chairman Burns that those credits were satisfactory." ALTMANN
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