15  -9is mindful about adjusting its other administered rates in sync with the interest rate on reserve balances. This practice helps ensure arbitrage works to shift the demand curve as indicated. Implementation Tool 4: Open Market Operations So far, I have talked about how the Fed influences the demand curve by changing its administered rates.
In order to minimize burden and give full effect to the conformance period provisions of section 619, the reporting requirements are applied in a graduated manner, with only the firms with the largest trading books required to report metrics.