LS-751: STATEMENT BY TREASURY UNDER SECRETARY GARY GENSLER



	FROM THE OFFICE OF PUBLIC AFFAIRS July 5, 2000 LS-751 STATEMENT BY TREASURY UNDER SECRETARY GARY GENSLER The Federal Reserve today announced changes to the management of the System Open Market Account (SOMA). The Federal Reserve consulted closely with the Treasury Department concerning these changes. We believe that they will allow the Federal Reserve to adjust the quantity and composition of the SOMA portfolio in a manner consistent with the Federal Reserve's portfolio needs and consistent with Treasury's broad debt management objectives. This announcement provides important information to market participants as this Administration continues its commitment to reduce the public debt.