Rules of Procedure

The Federal Open Market Committee ("the Committee") is amending its Rules of Procedure to revise and expand upon the means of communication available to the Secretary of the Committee and the members regarding meetings and proposed actions between meetings. The current rules provide that such communications must be in writing or by telegram. The proposed amendments would delete telegram as an accepted means of communication and would permit communications by telephone, including facsimile transmissions, or electronic means, such as by electronic mail. The option to require written communications would be retained.