Amendment to Rules Regarding Availability of Information; Rules of Procedure; Statements of Policy, 7839-7841 [05-2775]
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7839
Rules and Regulations
Federal Register
Vol. 70, No. 31
Wednesday, February 16, 2005
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
DEPARTMENT OF AGRICULTURE
Animal and Plant Health Inspection
Service
9 CFR Part 78
[Docket No. 04–103–2]
Brucellosis in Swine; Add Arkansas,
Louisiana, and Michigan to List of
Validated Brucellosis Free States
Animal and Plant Health
Inspection Service, USDA.
ACTION: Affirmation of interim rule as
final rule.
AGENCY:
SUMMARY: We are adopting as a final
rule, without change, an interim rule
that amended the brucellosis regulations
concerning the interstate movement of
swine by adding Arkansas, Louisiana,
and Michigan to the list of validated
brucellosis-free States. That action was
necessary to relieve certain restrictions
on the interstate movement of breeding
swine from Arkansas and Louisiana and
to confirm Michigan’s status as a
validated brucellosis-free State.
EFFECTIVE DATE: The interim rule
became effective on November 18, 2004.
FOR FURTHER INFORMATION CONTACT: Dr.
John Korslund, Staff Veterinarian
(Swine Health), Eradication and
Surveillance Team, National Center for
Animal Health Programs, VS, APHIS,
4700 River Road Unit 43, Riverdale, MD
20737–1231; (301) 734–5914.
SUPPLEMENTARY INFORMATION:
Background
Brucellosis is a contagious disease
caused by bacteria of the genus Brucella.
The disease mainly affects cattle, bison,
and swine, but goats, sheep, horses, and
even humans are susceptible. In its
principal animal hosts, it causes loss of
young through spontaneous abortion or
birth of weak offspring, reduced milk
production, and infertility. There is no
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10:50 Feb 15, 2005
Jkt 205001
economically feasible treatment for
brucellosis in livestock. In humans,
brucellosis initially causes flu-like
symptoms, but the disease may develop
into a variety of chronic conditions,
including arthritis. Humans can be
treated for brucellosis with antibiotics.
The brucellosis regulations in 9 CFR
part 78 (referred to below as the
regulations) contain specific provisions
for cattle, bison, and swine. Under the
regulations, States, herds, and
individual animals are classified
according to their brucellosis status.
Interstate movement requirements for
animals are based upon the disease
status of the individual animals or the
herd or State from which the animal
originates.
In an interim rule effective and
published in the Federal Register on
November 18, 2004 (69 FR 67501–
67503, Docket No. 04–103–1), we
amended § 78.43 of the regulations by
adding Arkansas, Louisiana, and
Michigan to the list of validated
brucellosis-free States.
Comments on the interim rule were
required to be received on or before
January 18, 2005. We received one
comment by that date, from a private
citizen. The commenter stated that all
interstate movement of swine should be
banned and that if living conditions for
swine were raised, swine would be
more resistant to diseases such as
brucellosis. The commenter further
objected to the use of taxpayer funds for
the brucellosis program and to the use
of the term ‘‘depopulated.’’ As this
comment has no bearing on the action
taken in the interim rule (i.e., the
addition of Arkansas, Louisiana, and
Michigan to the list of validated swine
brucellosis-free States), no changes to
the interim rule are indicated.
Therefore, for the reasons given in the
interim rule and in this document, we
are adopting the interim rule as a final
rule without change.
This action also affirms the
information contained in the interim
rule concerning Executive Order 12866
and the Regulatory Flexibility Act,
Executive Orders 12372 and 12988, and
the Paperwork Reduction Act.
Further, for this action, the Office of
Management and Budget has waived its
review under Executive Order 12866.
List of Subjects in 9 CFR Part 78
Animal diseases, Bison, Cattle, Hogs,
Quarantine, Reporting and
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recordkeeping requirements,
Transportation.
PART 78—BRUCELLOSIS
Accordingly, we are adopting as a final
rule, without change, the interim rule
that amended 9 CFR part 78 and that was
published at 69 FR 67501–67503 on
November 18, 2004.
I
Done in Washington, DC, this 10th day of
February 2005.
Elizabeth E. Gaston,
Acting Administrator, Animal and Plant
Health Inspection Service.
[FR Doc. 05–2967 Filed 2–15–05; 8:45 am]
BILLING CODE 3410–34–P
FEDERAL RESERVE SYSTEM
Federal Open Market Committee
12 CFR Parts 271, 272, 281
[Rules Regarding Availability of
Information; Rules of Procedure;
Statements of Policy; Docket No. R–1222]
Amendment to Rules Regarding
Availability of Information; Rules of
Procedure; Statements of Policy
Federal Open Market
Committee.
ACTION: Final rule.
AGENCY:
SUMMARY: The Federal Open Market
Committee (the ‘‘Committee’’) has made
a variety of technical and minor changes
to its Rules Regarding Availability of
Information, Rules of Procedure, and
Statements of Policy. The amendments
are designed to conform the rules and
statements to the Committee’s existing
practices, facilitate the ability of
Committee members to participate in a
meeting in unusual circumstances, and
remove obsolete provisions. The
amendments also make the rules
gender-neutral and authorize the
Secretary of the Committee (with the
concurrence of the Committee’s General
Counsel) to make technical changes to
the Committee’s rules, regulations, and
other actions in the future.
DATES: The amendments are effective
February 16, 2005.
FOR FURTHER INFORMATION CONTACT:
Kieran J. Fallon, Assistant General
Counsel (202–452–5270), April C.
Snyder, Attorney (202–452–3099), Legal
Division; Board of Governors of the
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7840
Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Rules and Regulations
Federal Reserve System; or Deborah J.
Danker, Deputy Secretary (202–452–
3253), Federal Open Market Committee,
20th Street and Constitution Avenue,
NW., Washington, DC 20551. Users of
Telecommunication Device for Deaf
(TTD) only, call (202) 263–4869.
SUPPLEMENTARY INFORMATION:
A. Amendments to Rules of Procedure
and Rules Regarding Availability of
Information
The Committee has amended section
272.3(a) of its Rules of Procedure to
allow members that cannot be present at
a meeting in person to participate in the
meeting by electronic means, such as by
videoconference arrangements, as well
as by telephone conference
arrangements. The amendment should
facilitate the ability of the Committee to
act if unusual circumstances, such as a
national emergency, prevent the
Committee or any of its members from
assembling in Washington, DC.
The Committee also has amended
sections 272.3(d) and (e) of its Rules of
Procedure to reflect the fact that (i)
currently only a single Manager is
selected to operate the System Open
Market Account for the Committee; and
(ii) under the Committee’s new
expedited procedure for the release of
Committee minutes, the minutes of a
Committee meeting typically will be
approved prior to (rather than at) the
Committee’s next regularly scheduled
meeting. In addition, the Committee has
updated the references to its internet
Web site and to the Federal Reserve
Bulletin (which is now published on a
quarterly basis) in its Rules Regarding
Availability of Information.
Finally, the Committee has modified
sections 272.3(b) and 272.4(c) of its
Rules of Procedure and sections 271.8(a)
and (b) of its Rules Regarding
Availability of Information to make the
rules gender-neutral. In addition, the
Committee has authorized the Secretary
of the Committee (with the concurrence
of the Committee’s General Counsel) to
make other technical, non-substantive
changes (such as correcting spelling
errors or deleting obsolete provisions) to
the Committee’s rules, regulations and
other actions in the future. This
delegated authority, which is identical
to the authority that the Secretary of the
Board has to make technical changes to
the Board’s rules (12 CFR 265.5(a)(4)), is
codified in a new section 272.4(d) of the
Rules of Procedure.
B. Deletion of Outdated Statement of
Policy
In 1947, the Committee directed the
Federal Reserve Banks to terminate,
effective July 10, 1947, the policy of
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10:50 Feb 15, 2005
Jkt 205001
purchasing all Treasury bills offered to
them at a fixed rate of 3⁄8 percent per
annum and to terminate the repurchase
option privilege on Treasury bills. This
statement, which currently is codified at
12 CFR 281.1, is no longer relevant to
the Committee’s policies or operations
and has been deleted.
The amendments to the Committee’s
Rules of Procedure and Statements of
Policy relate solely to the Committee’s
internal procedure and practices or
constitute general statements of policy.
Accordingly, the public notice, public
comment and delayed effective date
provisions of the Administrative
Procedure Act do not apply to these
amendments.1 Because the amendments
to the Rules Regarding Availability of
Information are technical in nature, the
Committee has determined that good
cause exists for making these
amendments effective immediately, and
that public notice and comment on
these amendments are impracticable,
unnecessary or contrary to the public
interest.2
List of Subjects
12 CFR Part 271
Freedom of information.
12 CFR Part 272
Administrative practice and
procedure, Organization and functions
(Government agencies).
12 CFR Part 281
Government securities, Sunshine Act.
Authority and Issuance
For the reasons set out in the preamble,
the Federal Open Market Committee
amends 12 CFR parts 271, 272, and 281
as follows:
I
PART 271—RULES REGARDING
AVAILABILITY OF INFORMATION
1. The authority citation for part 271
continues to read as follows:
I
Authority: 5 U.S.C. 552; 12 U.S.C. 263.
2. The first sentence of § 271.3(c) is
revised to read as follows:
I
§ 271.3
Published information.
*
*
*
*
*
(c) Other published information. From
time to time, other information relating
to open market operations of the Federal
Reserve Banks is published in the
Federal Reserve Bulletin, in the Board’s
annual report to Congress, and in
announcements and statements released
to the press. * * *
*
*
*
*
*
PO 00000
1 See
2 See
5 U.S.C. 553(b) and (d).
5 U.S.C. 553(b)(3)(B).
Frm 00002
Fmt 4700
Sfmt 4700
3. Section 271.4(c) is revised to read as
follows:
I
§ 271.4 Records available for public
inspection and copying.
*
*
*
*
*
(c) Electronic records. Information
available under this section that was
created on or after November 1, 1996,
shall also be available on the Board’s
Web site, found at https://
www.federalreserve.gov.
*
*
*
*
*
I 4. In § 271.8, paragraph (a) and the first
sentence of paragraph (b) are revised to
read as follows:
§ 271.8
Subpoenas.
(a) Advice by person served. If any
person, whether or not an officer or
employee of the Committee, of the
Board of Governors of the Federal
Reserve System, or of a Federal Reserve
Bank, has information of the Committee
that may not be disclosed by reason of
§ 271.7 and in connection therewith is
served with a subpoena, order, or other
process requiring the person’s personal
attendance as a witness or the
production of documents or information
upon any proceeding, the person should
promptly inform the Secretary of the
Committee of such service and of all
relevant facts, including the documents
and information requested and any facts
that may be of assistance in determining
whether such documents or information
should be made available; and the
person should take action at the
appropriate time to inform the court or
tribunal that issued the process, and the
attorney for the party at whose instance
the process was issued, if known, of the
substance of this part.
(b) Appearance by person served.
Except as disclosure of the relevant
information is authorized pursuant to
this part, any person who has
information of the Committee and is
required to respond to a subpoena or
other legal process shall attend at the
time and place therein mentioned and
decline to disclose such information or
give any testimony with respect thereto,
basing such refusal upon this part.
* * *
PART 272—FEDERAL OPEN MARKET
COMMITTEE—RULES OF
PROCEDURE
1. The authority citation for part 272
continues to read as follows:
I
Authority: 5 U.S.C. 552.
2. In § 272.3, the last sentence of
paragraph (a), paragraph (b), paragraph
(d), and the last sentence of paragraph (e)
are revised to read as follows:
I
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Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Rules and Regulations
§ 272.3
Meetings.
(a) Place and frequency. * * * If, in
the judgment of the Chairman,
circumstances require that a meeting be
called at such short notice that one or
more members cannot be present in
person, such members may participate
in the meeting by telephone conference
arrangements or by electronic means.
(b) Alternates. Whenever any member
of the Committee representing Federal
Reserve banks shall find that the
member will be unable to attend a
meeting of the Committee, the member
shall promptly notify the member’s
alternate and the Secretary of the
Committee in writing, by telephone, or
electronic means, and upon receipt of
such notice such alternate shall advise
the Secretary whether the alternate will
attend such meeting.
*
*
*
*
*
(d) Attendance at meetings.
Attendance at Committee meetings is
restricted to members and alternate
members of the Committee, the
Presidents of Federal Reserve Banks
who are not at the time members or
alternates, staff officers of the
Committee, the Manager, and such other
advisers as the Committee may invite
from time to time.
(e) Meeting agendas. * * * In general,
the agendas include reports by the
Manager on open market operations
since the previous meeting, and
ratification by the Committee of such
operations; reports by Economists on,
and Committee discussion of, the
economic and financial situation and
outlook; Committee discussion of
monetary policy and action with respect
thereto; and such other matters as may
be considered necessary.
I 3. In § 272.4, the second sentence of
paragraph (c) is revised, paragraph (d) is
redesignated as paragraph (e), and a new
paragraph (d) is added. The revision and
addition read as follows:
§ 272.4
Committee actions.
*
*
*
*
*
(c) Delegations of authority. * * *
Such delegations of authority may be
made to the Chairman; to a
subcommittee consisting of the
Chairman and the Vice Chairman of the
Committee and the Vice Chairman of
the Board (or in the absence of the
Chairman or of the Vice Chairman of the
Board the members of the Board
designated by the Chairman as
alternates, and in the absence of the
Vice Chairman of the Committee the
alternate for the Vice Chairman); or to
any other member or members of the
Committee. * * *
(d) Technical changes to Committee
rules. The Secretary of the Committee
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10:50 Feb 15, 2005
Jkt 205001
(or the acting secretary) is authorized to
make technical corrections, such as
spelling, grammar, construction, and
organization (including removal of
obsolete provisions and references), to
the Committee’s rules, regulations, and
orders and other records of Committee
action but only with the concurrence of
the Committee’s General Counsel.
*
*
*
*
*
7841
arcing or sparking at the interface
between the bulkhead fittings of the
engine fuel feed tube and the front spar
inside the fuel tank of the wings and
between the overwing fuel fill ports and
the airplane structure during a lightning
strike. Such arcing or sparking could
provide a possible ignition source for
the fuel vapor inside the fuel tank and
cause consequent fuel tank explosions.
DATES: This AD becomes effective
PART 281—STATEMENTS OF POLICY
March 23, 2005.
The incorporation by reference of
I 1. The authority citation for part 281 is
certain publications listed in the AD is
revised to read as follows:
approved by the Director of the Federal
Register as of March 23, 2005.
Authority: 12 U.S.C. 263; 5 U.S.C. 552.
ADDRESSES: For service information
I 2. Section 281.1 (Purchase of Treasury
identified in this AD, contact Boeing
bills) is removed and § 281.2 (Policy
Commercial Airplanes, P.O. Box 3707,
regarding the Government in the
Sunshine Act) is redesignated as § 281.1. Seattle, Washington 98124–2207. You
can examine this information at the
By order of the Federal Open Market
National Archives and Records
Committee, February 8, 2005.
Administration (NARA). For
Vincent R. Reinhart,
information on the availability of this
Secretary, Federal Open Market Committee.
material at NARA, call (202) 741–6030,
[FR Doc. 05–2775 Filed 2–15–05; 8:45 am]
or go to: https://www.archives.gov/
BILLING CODE 6210–01–P
federal_register/
code_of_federal_regulations/
ibr_locations.html.
Docket: The AD docket contains the
DEPARTMENT OF TRANSPORTATION
proposed AD, comments, and any final
Federal Aviation Administration
disposition. You can examine the AD
docket on the Internet at https://
14 CFR Part 39
dms.dot.gov, or in person at the Docket
Management Facility office between 9
[Docket No. FAA–2004–18759; Directorate
a.m. and 5 p.m., Monday through
Identifier 2003–NM–280–AD; Amendment
Friday, except Federal holidays. The
39–13973; AD 2005–04–01]
Docket Management Facility office
RIN 2120–AA64
(Telephone (800) 647–5227) is located
on the plaza level of the Nassif Building
Airworthiness Directives; Boeing
at the U.S. Department of
Model 707–100, –100B, –300, –300B
Transportation, 400 Seventh Street SW.,
(Including –320B Variant), –300C, and
room PL–401, Washington, DC. This
–E3A (Military) Series Airplanes; Model docket number is FAA–2004–18759; the
720 and 720B Series Airplanes; Model
directorate identifier for this docket is
737–100, –200, –200C, –300, –400, and
2003–NM–280–AD.
–500 Series Airplanes; and Model 747
FOR FURTHER INFORMATION CONTACT:
Airplanes
Technical information: Sulmo
Mariano, Aerospace Engineer,
AGENCY: Federal Aviation
Propulsion Branch, ANM–140S, FAA,
Administration (FAA), Department of
Seattle Aircraft Certification Office,
Transportation (DOT).
1601 Lind Avenue, SW., Renton,
ACTION: Final rule.
Washington 98055–4056; telephone
(425) 917–6501; fax (425) 917–6590.
SUMMARY: The FAA is adopting a new
Plain language information: Marcia
airworthiness directive (AD) for certain
Walters, marcia.walters@faa.gov.
Boeing transport category airplanes.
This AD requires repetitive tests of the
SUPPLEMENTARY INFORMATION: The FAA
overwing fuel fill ports for certain wing
proposed to amend 14 CFR part 39 with
tanks; an electrical bonding resistance
an AD for certain Boeing Model 707–
test between the bulkhead fittings of the 100, –100B, –300, –300B (including
engine fuel feed tube and the front spar
–320B variant), –300C, and –E3A
inside the fuel tank of the wings; other
(military) series airplanes; Model 720
specified actions; and applicable
and 720B series airplanes; Model 737–
corrective actions if necessary. This AD
100, –200, –200C, –300, –400, and –500
is prompted by our determination that
series airplanes; and Model 747
this AD is necessary to reduce the
airplanes. That action, published in the
potential for ignition sources inside fuel Federal Register on August 4, 2004 (69
tanks. We are issuing this AD to prevent FR 47031), proposed to require
PO 00000
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]]>Agencies
[Federal Register Volume 70, Number 31 (Wednesday, February 16, 2005)]
[Rules and Regulations]
[Pages 7839-7841]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-2775]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Federal Open Market Committee
12 CFR Parts 271, 272, 281
[Rules Regarding Availability of Information; Rules of Procedure;
Statements of Policy; Docket No. R-1222]
Amendment to Rules Regarding Availability of Information; Rules
of Procedure; Statements of Policy
AGENCY: Federal Open Market Committee.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Federal Open Market Committee (the ``Committee'') has made
a variety of technical and minor changes to its Rules Regarding
Availability of Information, Rules of Procedure, and Statements of
Policy. The amendments are designed to conform the rules and statements
to the Committee's existing practices, facilitate the ability of
Committee members to participate in a meeting in unusual circumstances,
and remove obsolete provisions. The amendments also make the rules
gender-neutral and authorize the Secretary of the Committee (with the
concurrence of the Committee's General Counsel) to make technical
changes to the Committee's rules, regulations, and other actions in the
future.
DATES: The amendments are effective February 16, 2005.
FOR FURTHER INFORMATION CONTACT: Kieran J. Fallon, Assistant General
Counsel (202-452-5270), April C. Snyder, Attorney (202-452-3099), Legal
Division; Board of Governors of the
[[Page 7840]]
Federal Reserve System; or Deborah J. Danker, Deputy Secretary (202-
452-3253), Federal Open Market Committee, 20th Street and Constitution
Avenue, NW., Washington, DC 20551. Users of Telecommunication Device
for Deaf (TTD) only, call (202) 263-4869.
SUPPLEMENTARY INFORMATION:
A. Amendments to Rules of Procedure and Rules Regarding Availability of
Information
The Committee has amended section 272.3(a) of its Rules of
Procedure to allow members that cannot be present at a meeting in
person to participate in the meeting by electronic means, such as by
videoconference arrangements, as well as by telephone conference
arrangements. The amendment should facilitate the ability of the
Committee to act if unusual circumstances, such as a national
emergency, prevent the Committee or any of its members from assembling
in Washington, DC.
The Committee also has amended sections 272.3(d) and (e) of its
Rules of Procedure to reflect the fact that (i) currently only a single
Manager is selected to operate the System Open Market Account for the
Committee; and (ii) under the Committee's new expedited procedure for
the release of Committee minutes, the minutes of a Committee meeting
typically will be approved prior to (rather than at) the Committee's
next regularly scheduled meeting. In addition, the Committee has
updated the references to its internet Web site and to the Federal
Reserve Bulletin (which is now published on a quarterly basis) in its
Rules Regarding Availability of Information.
Finally, the Committee has modified sections 272.3(b) and 272.4(c)
of its Rules of Procedure and sections 271.8(a) and (b) of its Rules
Regarding Availability of Information to make the rules gender-neutral.
In addition, the Committee has authorized the Secretary of the
Committee (with the concurrence of the Committee's General Counsel) to
make other technical, non-substantive changes (such as correcting
spelling errors or deleting obsolete provisions) to the Committee's
rules, regulations and other actions in the future. This delegated
authority, which is identical to the authority that the Secretary of
the Board has to make technical changes to the Board's rules (12 CFR
265.5(a)(4)), is codified in a new section 272.4(d) of the Rules of
Procedure.
B. Deletion of Outdated Statement of Policy
In 1947, the Committee directed the Federal Reserve Banks to
terminate, effective July 10, 1947, the policy of purchasing all
Treasury bills offered to them at a fixed rate of \3/8\ percent per
annum and to terminate the repurchase option privilege on Treasury
bills. This statement, which currently is codified at 12 CFR 281.1, is
no longer relevant to the Committee's policies or operations and has
been deleted.
The amendments to the Committee's Rules of Procedure and Statements
of Policy relate solely to the Committee's internal procedure and
practices or constitute general statements of policy. Accordingly, the
public notice, public comment and delayed effective date provisions of
the Administrative Procedure Act do not apply to these amendments.\1\
Because the amendments to the Rules Regarding Availability of
Information are technical in nature, the Committee has determined that
good cause exists for making these amendments effective immediately,
and that public notice and comment on these amendments are
impracticable, unnecessary or contrary to the public interest.\2\
---------------------------------------------------------------------------
\1\ See 5 U.S.C. 553(b) and (d).
\2\ See 5 U.S.C. 553(b)(3)(B).
---------------------------------------------------------------------------
List of Subjects
12 CFR Part 271
Freedom of information.
12 CFR Part 272
Administrative practice and procedure, Organization and functions
(Government agencies).
12 CFR Part 281
Government securities, Sunshine Act.
Authority and Issuance
0
For the reasons set out in the preamble, the Federal Open Market
Committee amends 12 CFR parts 271, 272, and 281 as follows:
PART 271--RULES REGARDING AVAILABILITY OF INFORMATION
0
1. The authority citation for part 271 continues to read as follows:
Authority: 5 U.S.C. 552; 12 U.S.C. 263.
0
2. The first sentence of Sec. 271.3(c) is revised to read as follows:
Sec. 271.3 Published information.
* * * * *
(c) Other published information. From time to time, other
information relating to open market operations of the Federal Reserve
Banks is published in the Federal Reserve Bulletin, in the Board's
annual report to Congress, and in announcements and statements released
to the press. * * *
* * * * *
0
3. Section 271.4(c) is revised to read as follows:
Sec. 271.4 Records available for public inspection and copying.
* * * * *
(c) Electronic records. Information available under this section
that was created on or after November 1, 1996, shall also be available
on the Board's Web site, found at https://www.federalreserve.gov.
* * * * *
0
4. In Sec. 271.8, paragraph (a) and the first sentence of paragraph
(b) are revised to read as follows:
Sec. 271.8 Subpoenas.
(a) Advice by person served. If any person, whether or not an
officer or employee of the Committee, of the Board of Governors of the
Federal Reserve System, or of a Federal Reserve Bank, has information
of the Committee that may not be disclosed by reason of Sec. 271.7 and
in connection therewith is served with a subpoena, order, or other
process requiring the person's personal attendance as a witness or the
production of documents or information upon any proceeding, the person
should promptly inform the Secretary of the Committee of such service
and of all relevant facts, including the documents and information
requested and any facts that may be of assistance in determining
whether such documents or information should be made available; and the
person should take action at the appropriate time to inform the court
or tribunal that issued the process, and the attorney for the party at
whose instance the process was issued, if known, of the substance of
this part.
(b) Appearance by person served. Except as disclosure of the
relevant information is authorized pursuant to this part, any person
who has information of the Committee and is required to respond to a
subpoena or other legal process shall attend at the time and place
therein mentioned and decline to disclose such information or give any
testimony with respect thereto, basing such refusal upon this part. * *
*
PART 272--FEDERAL OPEN MARKET COMMITTEE--RULES OF PROCEDURE
0
1. The authority citation for part 272 continues to read as follows:
Authority: 5 U.S.C. 552.
0
2. In Sec. 272.3, the last sentence of paragraph (a), paragraph (b),
paragraph (d), and the last sentence of paragraph (e) are revised to
read as follows:
[[Page 7841]]
Sec. 272.3 Meetings.
(a) Place and frequency. * * * If, in the judgment of the Chairman,
circumstances require that a meeting be called at such short notice
that one or more members cannot be present in person, such members may
participate in the meeting by telephone conference arrangements or by
electronic means.
(b) Alternates. Whenever any member of the Committee representing
Federal Reserve banks shall find that the member will be unable to
attend a meeting of the Committee, the member shall promptly notify the
member's alternate and the Secretary of the Committee in writing, by
telephone, or electronic means, and upon receipt of such notice such
alternate shall advise the Secretary whether the alternate will attend
such meeting.
* * * * *
(d) Attendance at meetings. Attendance at Committee meetings is
restricted to members and alternate members of the Committee, the
Presidents of Federal Reserve Banks who are not at the time members or
alternates, staff officers of the Committee, the Manager, and such
other advisers as the Committee may invite from time to time.
(e) Meeting agendas. * * * In general, the agendas include reports
by the Manager on open market operations since the previous meeting,
and ratification by the Committee of such operations; reports by
Economists on, and Committee discussion of, the economic and financial
situation and outlook; Committee discussion of monetary policy and
action with respect thereto; and such other matters as may be
considered necessary.
0
3. In Sec. 272.4, the second sentence of paragraph (c) is revised,
paragraph (d) is redesignated as paragraph (e), and a new paragraph (d)
is added. The revision and addition read as follows:
Sec. 272.4 Committee actions.
* * * * *
(c) Delegations of authority. * * * Such delegations of authority
may be made to the Chairman; to a subcommittee consisting of the
Chairman and the Vice Chairman of the Committee and the Vice Chairman
of the Board (or in the absence of the Chairman or of the Vice Chairman
of the Board the members of the Board designated by the Chairman as
alternates, and in the absence of the Vice Chairman of the Committee
the alternate for the Vice Chairman); or to any other member or members
of the Committee. * * *
(d) Technical changes to Committee rules. The Secretary of the
Committee (or the acting secretary) is authorized to make technical
corrections, such as spelling, grammar, construction, and organization
(including removal of obsolete provisions and references), to the
Committee's rules, regulations, and orders and other records of
Committee action but only with the concurrence of the Committee's
General Counsel.
* * * * *
PART 281--STATEMENTS OF POLICY
0
1. The authority citation for part 281 is revised to read as follows:
Authority: 12 U.S.C. 263; 5 U.S.C. 552.
0
2. Section 281.1 (Purchase of Treasury bills) is removed and Sec.
281.2 (Policy regarding the Government in the Sunshine Act) is
redesignated as Sec. 281.1.
By order of the Federal Open Market Committee, February 8, 2005.
Vincent R. Reinhart,
Secretary, Federal Open Market Committee.
[FR Doc. 05-2775 Filed 2-15-05; 8:45 am]
BILLING CODE 6210-01-P
