Mr. Greenspan’s testimony before the House of Respresentatives’ Commmittee on Banking and Financial Services Testimony of the Chairman of the Governing Board of the US Federal Reserve System, Mr. Alan Greenspan, before the Committee on Banking and Financial Services of the US House of Representatives in Washington DC, on 13/11/97. Recent developments in world finance have highlighted growing interactions among national financial markets.
If the Board were to maintain the April 2024 bond as the target bond, rather than move to the next bond https://www.rba.gov.au/speeches/2021/sp-dg-2021-05-06.html  9/26  5/6/2021  Monetary Policy During COVID | Speeches | RBA  maturity that becomes closest to the 3-year horizon, the maturity of the target would gradually decline until the bond finally matured in April 2024.