Board of Governors of the Federal Reserve System (U.S.), 1935- and Kelley, Edward Watson, 1932- "Statement before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs of the U.S. House of Representative[s]." May 27, 1992, https://fraser.stlouisfed.org/title/915/item/35509, accessed on April 5, 2025.

Title: Statement before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs of the U.S. House of Representative[s]

Author: Angell, Wayne D.
Date: May 27, 1992
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image-container-0 i i-i: of May baii^3i992 delivery . D. T Statement of Wayne D. Angell and Edward W. Kelley, Jr. Members, Board of Governors of the Federal Reserve System before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs of the U.S. House of Representative May 27, 1992
image-container-1 It is a pleasure for Governor Kelley and me to visit with this Subcommittee today to discuss and review the Federal Reserve System's expenses and budget. Today, as we look at the Federal Reserve System's budget for 1992, Governor Kelley will discuss the Board's budget and major initiatives, and my comments will focus on the Reserve Bank budgets, as well as major System initiatives. The Board has recently made available to the public and to this Subcommittee copies of our publication, Annual Report: Budget Review. 1991-92. presenting detailed information about spending plans for 1992. The attached tables have been updated for 1991 actual experience and, therefore, some variations exist from data in that document. The actual increase in Federal Reserve System expenses from 1986 to 1991 has been 5.2 percent. This increase is not a cost increase for a constant basket of services but reflects our response to Supervision and Regulation initiatives, Expedited Funds Availability (EFA) legislation requirements, contingency planning initiatives, and several major initiatives for the U.S. Treasury.
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Date: May 27, 1992
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