The terms of issuance are settled

The Bank did not print today.

The terms on which the unit is issued are settled. Two thousand one hundred charters. One million units behind each. Two billion one hundred million in total, and that is the whole of the issue.

A charter does not receive the unit. A charter releases it.

Two thousand one hundred charters will ever be granted by this Bank. One million units stand behind each of them. The total is 2,100,000,000. That is the whole of the issue and there is no further issue contemplated.

A charter does not receive the unit. A charter releases it. When a vault is chartered, the million units standing behind it enter the market on a schedule, and the Bank offers them. No holder of a charter is given units, and none are given to anyone else.

The Bank is the only issuer. An earlier release recorded that the unit is obtained from the Bank and from nowhere else. That was the position when no market for it existed. The Bank issues, and only the Bank issues; what changes hands after that changes hands as any instrument does, and the Bank takes no position on it.

What is paid for the unit is converted to bitcoin. 85 percent of that is placed in member vaults and 15 percent is retained, as all revenue is divided and as Section VI of Purposes and Functions provides. The division does not change and has never changed.

Stated policy is unchanged. The Bank intends a target of zero for $CBOB. The unit is not a reserve and was never offered as one. It is a unit of activity inside this Bank, and it is spent. A holder who spends it has used it for its purpose.

The reserve is bitcoin. The reserve does not move.