Open Market Committee (FOMC)
Open market operations are the most important instrument of monetary policy. Open Market Committee ( FOMC ) deals with the purchase and sale of federal debt and US Treasury securities. Treasury Securities are used to fund federal spending and are issued in negotiable and non-negotiable forms. Handled papers include: treasury bills (treasury bills) with maturity 13, 26, 52 weeks and denomination from 10 thousand. Dollars; treasury bonds (treasury bonds) denomination over 1 thousand. Dollars, which can be both medium-term, as well as long-term. Scheduled FOMC meetings are held eight times a year, at them the members of the Committee discuss the current economic situation, possible options for its development, direction of monetary policy. At least twice a year, the Committee also votes on the areas of a long-term strategy in relation to the most important indicators of the money supply and public debt..