By unanimous vote, the Committee selected Michael Held to serve as deputy general counsel, effective September 20, 2016, until the selection of his successor at the first regularly scheduled meeting of the Committee in 2017. Revisions to Documents Governing Foreign Currency Operations The manager of the System Open Market Account (SOMA) briefed the Committee on a staff proposal to revise the documents governing the System's foreign currency operations, including the Authorization for Foreign Currency Operations (Foreign Authorization), the Foreign Currency Directive (Foreign Directive), and the Procedural ... (full story)