In these circumstances, in order to continue steering very short term interbank money market rates to the minimum bid rate, it has been necessary to supply liquidity in a way which has allowed credit institutions to fulfil their reserve requirements relatively early in the maintenance period.
Ben S Bernanke: The importance of financial education Welcoming remarks by Mr Ben S Bernanke, Chairman of the Board of Governors of the US Federal Reserve System, at the Greater Washington $ Coalition financial education event, Washington DC, 25 April 2007. *  *  *  Good morning.