Research and Publications

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Dec. 29, 2014 218.74 33.76 300.02 – 70.05 21.02 – – 576.07 Dec. 30, 2014 215.29 91.46 505.04 – 1.00 3.30 – – 633.17 Dec. 31, 2014 180.37 144.07 230.05 – 52.75 4.15 – – 323.25 Jan

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Dec. 22, 2014 219.72 21.18 382.65 – 4.79 47.35 – – 633.33 Dec. 23, 2014 200.56 27.01 391.59 – 0.40 –3.10 – – 562.44 Dec. 24, 2014 182.51 55.99 300.07 – 0.72 –5.62 – – 421.69 Dec.

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Dec. 15, 2014 186.47 45.14 66.40 – 2.07 34.00 – – 243.80 Dec. 16, 2014 206.82 8.94 405.04 – 60.79 36.40 – – 700.11 Dec. 17, 2014 229.77 17.58 343.50 – 2.70 16.10 – – 574.49 Dec.

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Dec. 8, 2014 111.57 24.07 – 18.55 1.91 20.82 – – 91.68 Dec. 9, 2014 128.28 15.39 150.07 52.42 10.81 –11.70 – – 209.65 Dec. 10, 2014 117.50 71.80 – 10.02 – 27.53 4.90 – 58.31 Dec.

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Dec. 1, 2014 135.68 32.15 – 184.32 7.25 –43.77 7.05 – –124.36 Dec. 2, 2014 41.93 57.26 133.55 80.19 5.65 –1.85 127.86 – –86.03 Dec. 3, 2014 38.46 26.39 – 140.61 8.33 2.33 7.00 –

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Nov. 24, 2014 106.06 23.12 – – 8.63 35.43 4.65 – 122.35 Nov. 25, 2014 177.05 31.38 150.05 40.40 0.20 0.30 6.50 – 249.32 Nov. 26, 2014 190.68 33.23 – – 0.60 8.09 5.70 – 160.44 Nov

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Nov. 17, 2014 182.87 23.52 – – 14.11 30.49 2.35 – 201.60 Nov. 18, 2014 156.70 35.73 155.06 – – –21.50 4.55 – 249.98 Nov. 19, 2014 109.14 19.15 – – 0.10 –1.29 4.95 – 83.85 Nov. 20

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Nov. 10, 2014 68.99 62.08 – – 1.00 9.40 3.70 – 13.61 Nov. 11, 2014 47.72 16.37 150.07 – 17.47 56.05 3.15 – 251.79 Nov. 12, 2014 178.49 42.89 – – 4.15 –28.69 2.00 – 109.06 Nov. 13

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Nov. 3, 2014 17.22 244.22 38.10 350.11 – –24.60 7.20 – –570.81 Nov. 5, 2014 9.21 63.34 – 456.63 7.50 – 7.95 – –511.21 Nov. 7, 2014 10.87 11.68 34.35 167.87 28.70 –34.02 111.35 –

(` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Oct. 27, 2014 172.30 33.36 – – 10.91 –3.70 2.60 – 143.55 Oct. 28, 2014 171.00 110.74 150.08 – 2.50 –27.80 2.85 – 182.19 Oct. 29, 2014 131.28 23.09 – 50.94 – –12.10 4.00 – 41.15 O