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Authorized for public release by the FOMC Secretariat on 1/14/2022

THE FEDERAL RESERVE SYSTEM
Date:

September 30, 2016

To:

Research Directors

From:

Thomas Laubach and Simon Potter

Subject: Long Run Framework Project: Supplementary Materials for November
FOMC Meeting

Yesterday we provided you with an overview of supplementary materials associated
with the Long Run Framework (LRF) project that we will be sending to you in
advance of the November FOMC meeting. Today we are providing you with six of
these memos from the Interest Rate Targets and Operating Regimes and Balance
Sheet workgroups, including:
- Considerations for the Design of Reserves Operating Regimes
- Demand and Supply Considerations in Repo Rate Targeting Regimes
- Monetary Policy Implementation Frameworks and the Payment System
- Long-Run Framework: Macroeconomic Considerations of Balance Sheet
Policies
- Fiscal Implications of the Size and Composition of the Central Bank’s Balance
Sheet
- The Federal Reserve’s Balance Sheet and Financial Stability
Should you have any questions about these memos, or if you would like to discuss any
of the LRF materials further, please feel free to reach out to either of us or Julie
Remache, chair of the LRF Operating Committee.

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