The problem of the direct design of the closed-loop transfer function matrix is addressed for multivariable discrete systems. The limitations imposed by unstable zeros, time delays and the structure associated with these are quantified. A design procedure is formulated that provides the designer with quantitative measures for evaluating the tradeoffs between different closed-loop interaction structures and durations. The problem of intersample rippling is also considered. The procedure requires only linear-algebra operations, includes the eventual construction of the feedback controller in state space, and is presented in a way that allows its straightforward computer implementation.