Fed Refrains From Intervention, Completes Bundesbank Deals


The Federal Reserve completed settlements with the Bundesbank on a total of about $1.46 billion in forward Deutsche mark sales from a May 1992 transaction, in the November 1992 to January 1993 period, according to the Fed's quarterly review. The U.S. central bank made no intervention in the foreign exchange markets during this period.

The forward transactions with the Bundesbank were executed in efforts by both the U.S. and German monetary authorities to adjust respective levels of foreign cu