With only five of the twelve Reserve Bank Presidents on the Committee at any one time, how were these seats to be allocated?2 The FOMC finally settled on a rotation system that was a compromise between strict equality and relative importance of each District in the financial system. New York was given a permanent seat.
Ipumbu Shiimi: Currency conversion agreement between Bank of Namibia and National Bank of Angola Remarks by Mr Ipumbu Shiimi, Governor of the Bank of Namibia, at the signing ceremony “Currency conversion agreement between Bank of Namibia and National Bank of Angola”, Santa Clara, 22 September 2014.