FOMC Excerpt: Operating Frameworks Discussion To Resume -Text>

WASHINGTON (MNI) - The following are excerpts from the Federal Open 

Market Committee minutes of the July 31-August 1 meeting, published 

Wednesday:

     "A couple of participants commented on issues related to the 

operating framework for the implementation of monetary policy, 

including, among other things, the implications of changes in financial 

market regulations for the demand for reserves and for the size and 

composition of the Federal Reserves balance sheet. These participants 

judged that it would be important for the Committee to resume its 

discussion of operating frameworks before too long. The Chairman 

suggested that the Committee would likely resume a discussion of 

operating frameworks in the fall." 

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[TOPICS: MMUFE$,M$U$$$,MT$$$$]