The AUD/USD rallied from 0.8911 to the current level of 0.9107 by the end of Wednesday’s session. This steep ascent was the result of the Australian Dollar’s strength versus a very weak U.S. Dollar as U.S. equities rallied throughout the trading day.

CURRIENCIES: 9/02/10 Higher closes yesterday for the Euro Fx, British Pound, Canadian and Aussie Dollar, unchanged for the Swiss Franc, while lower for the dollar index, Japanese Yen and Euro Fx,.

The Bank is participating in History Week, during which museums in New South Wales open their doors to the public. This year, the History Week theme is ‘Faces in the Street’. Reflecting the theme

Good morning. I want to welcome you to the Federal Reserve Board for this two-day summit to examine the problems associated with vacant and abandoned property and to explore innovative approaches to neighborhood stabilization.

Chairman Angelides, Vice Chairman Thomas, and members of the Commission, I am pleased to appear today to provide the Commission with information on the events leading up to the acquisition of Wachovia Corporation and its banking and nonbanking subsidiaries by Wells Fargo & Company in the fall of 2008. The purpose of my testimony is to summarize the events, with a focus on the Federal Reserve's involvement. I will also address the lending and supervisory questions raised in the Commission's invitation letter.