Fed Intervenes With $1.2 Billion Purchase Of DM And Yen In Q1

REGULATIONS

The U.S. Federal Reserve and Treasury bought a total $1.42 billion against the Deutsche mark and Japanese yen March 2-3. The intervention was the only one by the U.S. monetary authorities during the first quarter, officials at the Federal Reserve Bank of New York said on May 10.

Dealings between Mexican and U.S. monetary authorities were also disclosed in the Fed's quarterly report on foreign exchange. Mexico drew a net $1 billion on its swap facility with the Fed and a net $4 billion on the