We are developing new techniques for draining reserves, including reverse repurchase agreements against mortgage-backed securities and time deposits for banks at the Federal Reserve. And, of course, we retain the option to sell securities from our portfolio on an outright basis.
As I noted earlier, the Reserve Banks are targeting June 1998 to commence testing with their depository institution customers, which allows an 18-month time period for depository institutions to test their systems with the Federal Reserve. All of these activities require that we retain highly skilled staff critical to the success of the project.