Federal Reserve | Communcation to Sweden

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Wille Blomqvist, Secretary of The Economy of the Kingdom of Sweden ( Connor )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Blomqvist,

The Federal Reserve System, which is the central bank of the United States, is presently accepting new Reserve Savings Accounts for sovereign governments, entities, and corporations. The Kingdom of Sweden is renowned for its financial stability and economic prowess and The Board of Governors firmly believes that the Swedish government would be an excellent client. At this time, we are currently offering a 3% interest rate per Bank Day for Reserve Savings Accounts (RSA). The minimum amount of money required for a RSA to collect interest is $1-billion. However, we would highly recommend that your government considers depositing $5-billion to create your first RSA. Not only do these savings accounts offer a safe and reliable way to build wealth, they also offer other benefits besides interest payments.

The United States normally charges 100% profit on any defense purchase. However, nations that have a RSA with $5-billion or more in the account are automatically given a discount so that they only pay a 50% margin on defense purchases. Nations that are allied to the United States, which it seems Sweden will soon be, are typically only charged a 40% margin on defense purchases. Allies who hold a RSA will have this margin further reduced to 32.5%.

I would be happy to give you more information, and talk to you over the phone, if you believe that your government may be interested in opening a RSA.

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System


Minister Bolund,

I am pleased to inform you that the Board of Governors have approved the Kingdom of Sweden's application to have a Reserve Savings Account with the Federal Reserve System. I highly recommend that you further review our terms and conditions that lay out exactly how these accounts work, when and how your government can withdraw money if it needs to, how interest is accrued, and how the interest rate is set. As our homepage says, there is no risk of your RSA ever being charged negative interest.

In order to complete opening your account, please transfer at least $1,025,000,000 to your new account - the minimum opening balance is $1-billion and there is of course a one-time administrative fee of $25,000,000 to opening an account. If you would like to deposit more than one-billion dollars, then please feel free to do so.

Please also note that your account will begin accruing interest during (the first full IRL month) that your account exists, which is (next month, March). This means that the first Interest Day, in which your account will be paid interest, will be (March 2, 2023).

I am also pleased to inform you of a new perk of having a RSA. Governments that have no formal relationship with the United States normally pay a minimum of 50% profit on all arms-trades with the United States - this means that if a product costs $100.00 to produce, the purchaser would have to pay the $100.00 to produce the product plus another $50.00 as a fee to the United States. Meanwhile, allies of the United States normally pay a minimum of 25% profit on all arms-trades. Governments that have a RSA with a balance of at least $5,000,000,000.00 have the profit-rates on their arms purchases from the United States reduced by a further 10%. In Sweden's case, this means that your government would only pay a 15% profit payment on any arms purchase from the United States - so a $100.00 product would cost your government a total of $115.00, while most other countries would be paying anywhere from $150.00 to $200.00 in total.

The Board of Governors is excited that the Kingdom of Sweden has opened an account, and we look forward to our continued business relationship. Please feel free to contact our office with any questions or concerns that you may have. Also, you can view the live balance of your account here at any time.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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[Connor]

Government of Sweden
Löfven Administration​

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Dear Avery Black,

Thank you for your correspondence and please pass my appreciation to the Board of Governors for such an expeditious processing of our application for a Reserve Savings Account with the Federal Reserve System. The terms you have put forward in your message, coupled with the perks of the scheme are graciously received and I hope this is the beginning is a much closer financial relationship between our nations, one which will see us both prosper significantly. As part of an extensive review within the administration we are beginning to look at new ways to invest our wealth, safeguard our finances and integrate this with foreign development, humanitarian aid and international projects both within communities and government. The FRS is our first partner in this endeavour.

My team have extensively read the terms and conditions associated to our account as they are written on this date. A copy has been taken and we will assume this as the terms throughout our accounts existence unless notice is provided informing us of your intent to change them. In order to track our deposits and withdrawals we will be associating them to their own unique referencing number.

Our first deposit will be of exactly $6,943,213,588.60 (reference 61819.1.001.01) - I understand this payment to have been made prior to this correspondence being sent and you are welcome to withdraw any administrative fees from this total. The $25,000,000.00 fee mentioned in your correspondence will be recognised as an 'administrative withdrawal' which reference number 61819.3.002.01 refers to. We expect further substantial deposits to be made in the next quarter.

If there are any issues please feel free to contact my office - the best point on contact will be Assistant Secretary of Finance for the Financial Market, Karl Lundqvist.

Regards,
Per Bolund
Secretary of Finance
Department of Finance
Kingdom of Sweden

Odinson

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SECURE
Crown Copyright © Kingdom of Sweden
All information is subject to the Swedish Document Classification and Security Act 1995​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System


Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 2.5% interest payment of $172,955,339.72, which has been deposited directly into your account. Sweden's account has gone from $6,918,213,588.60 to $7,091,168,928.32. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 2.0% interest payment of $141,823,378.57, which has been deposited directly into your account. Sweden's account balance has increased from $7,091,168,928.32 to $7,232,992,306.89. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 1.9% interest payment of $137,426,853.83, which has been deposited directly into your account. Sweden's account balance has increased from $7,232,992,306.89 to $7,370,419,160.72. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 2.0% interest payment of $147,408,383.22, which has been deposited directly into your account. Sweden's account balance has increased from $7,370,419,160.72 to $7,517,827,543.94. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 2.0% interest payment of $150,356,550.88, which has been deposited directly into your account. Sweden's account balance has increased from $7,517,827,543.94 to $7,668,184,094.82. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Connor]

Government of Sweden
Löfven Administration​

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Dear Avery Black,

As we approach six months with the Federal Reserve System, Reserve Savings Account, we have collectively within the Department of Finance been impressed with the clockwork precision your team have displayed in managing our balance. As expressed during the inception of our account we anticipated further deposits this quarter which have now been approved by the Secretary of Finance. This further deposit is made in view of the terms and conditions of the account remaining unchanged since the date of our account creation.

Our second deposit will be of exactly $5,832,228,053.20 (DFOFM reference 61819.1.003.02) - should there be any administrative fees associated to this deposit please subtract it from this value and make my office aware at your earliest convenience to allow for accurate accounting on our end.

The payment has been processed and should be pending for your authorisation.

Regards,
Karl Lundqvist
Assistant Secretary of Finance for the Financial Market
Department of Finance
Kingdom of Sweden

Odinson

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SECURE
Crown Copyright © Kingdom of Sweden
All information is subject to the Swedish Document Classification and Security Act 1995​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Karl Lundqvist, Assistant Secretary of Finance for the Financial Market ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

The Board of Governors are pleased to hear that your government has decided to deposit additional funds. I can confirm that $5,832,228,053.20 has been deposited directly into Sweden's account, bringing the total in the kingdom's RSA account from $7,668,184,094.82 to $13,500,412,148.02.

I am pleased to inform you that there are no administrative fees for deposits. However, the kingdom's account will not draw interest on the newly-deposited $5.8-billion until it has been in your account for one full Interest Period. The first Interest Day in which the kingdom's account will yield full interest on all funds, including the new deposited funds, will be (September 2). With that being said, the kingdom will still draw interest on the $7,668,184,094.82 that was in your account on the next Interest Day, which is (August 2).

If you or His Majesty's government has any concerns or questions, I will be happy to assist.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Per Bolund, Secretary of Finance ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Bolund,

I am writing to inform you that the Kingdom of Sweden's account with the Federal Reserve has yielded a 2.0% interest payment of $153,363,681.90, which has been deposited directly into your account. Sweden's account balance has increased from $13,500,412,148.02 to $13,653,775,829.92. Please let me know if you have any concerns or questions.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
​

 

[Connor]

Government of Sweden
Löfven Administration​

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Dear Avery Black,

I trust this correspondence will reach your office in a timely manner with the view for our formerly fruitful relationship to be continued on as we rapidly approach 2004.

The requirements of our contractual arrangement following the development of our cooperation has been in hiatus as the Swedish Department of Finance has taken the time to kindle with newly outlined domestic policy. However, with this message is my intention for our relationship to continue as it once was. As such, could you please confirm our current balance within the Federal Reserve System and that our interest will continue to build and be paid into our account from this date forward?

With this I have been assured that continued deposits similar to that previously paid, are in the authorisation processes at our end - I would expect to be in contact with you in the coming months for this to be paid into our account.

I look forward to your response.

Regards,
Karl Lundqvist
Assistant Secretary of Finance for the Financial Market
Department of Finance
Kingdom of Sweden

Odinson

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SECURE
Crown Copyright © Kingdom of Sweden
All information is subject to the Swedish Document Classification and Security Act 1995​

 

[Odinson]

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Karl Lundqvist, Assistant Secretary of Finance for the Financial Market of the Kingdom of Sweden ( Connor )
FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Assistant Secretary Lundqvist,

It is a pleasure to hear from you. I can confirm that Sweden's account has been accruing interest every month, per our agreement. Please see this page to view the monthly deposits into your account. With that being said, I would be happy to have the Federal Reserve resume regular messages to your government to confirm the amount of money that has been deposited into your account so that your government can stay up to date. Below is the most recent interest deposit into Sweden's account, as well as the current balance of Sweden's account.

The Kingdom of Sweden's account with the Federal Reserve has yielded a 1.2% interest payment of $175,542,222.87, which has been deposited directly into your account. Sweden's account balance has increased from $14,589,225,513.05 to $14,764,767,735.92.

Sweden's Reserve Savings Account currently has a balance of: $14,764,767,735.92.

If you have any questions, please do not hesitate to contact the Federal Reserve, or my office directly. I hope that you find the rest of your week enjoyable.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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