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To: detlef gerlach who wrote (4246)	4/21/2002 2:30:00 PM
From: GraceZ	Respond to of 24758

A purchase adds to reserves, and a sale reduces them. Most of the time the Fed is purchasing or adding reserves primarily because the economy is expanding and increasing the demand for money. They sell the securities they own to mop up previous operations or tighten the money supply. This is a typical announcement: Friday March 22, 11:12 am Eastern Time Fed adds $581 mln bank reserves by coupon pass NEW YORK, March 22 (Reuters) - The Federal Reserve said on Friday it added $581 million in permanent reserves to the banking system by buying U.S. Treasury coupons dated Aug. 15, 2010 through Aug. 15, 2029.