Roberto Perli, an official at the Federal Reserve Bank of New York, stated on Tuesday that the Fed's purchases of U.S. Treasury bills are not on a preset path and will be adjusted in the future based on "evolving market conditions" to implement the FOMC's policy of maintaining reserves in an ample range. He added that the New York Fed will closely monitor senior financial officials' assessments of market conditions and other signs of stress in funding markets, with particular attention to market reactions following the large net issuance of Treasury bills in October.