The original maturity of all the securities at the time of first investments by such investors shall be five years and the investments would be subject to a lock in period of three years.
I had interacted with the Fed throughout my banking career and had even served on the board of directors of the Federal Reserve Bank of Richmond. So I knew a lot about the Federal Reserve. But there was no way that I, or anyone else, could have foreseen the tumultuous events that were about to unfold.