Rules of Organization, 7947-7948 [05-2776]

Download as PDF Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Notices proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Additional information on all bank holding companies may be obtained from the National Information Center website at www.ffiec.gov/nic/. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than March 14, 2005. A. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice President) 701 East Byrd Street, Richmond, Virginia 23261–4528: 1. Independence Bancshares, Inc., Greenville, South Carolina; to become a bank holding company by acquiring 100 percent of the voting shares of Independence National Bank, Greenville, South Carolina (in organization). with the standards of section 4 of the BHC Act. Additional information on all bank holding companies may be obtained from the National Information Center website at www.ffiec.gov/nic/. Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than March 2, 2005. A. Federal Reserve Bank of Atlanta (Andre Anderson, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30303: 1. BankEast Corporation, Knoxville, Tennessee; to acquire Curtis Mortgage Company, Inc., Knoxville, Tennessee, and thereby engage in brokering residential and investor real estate loans in the secondary market, pursuant to section 225.28(b)(1) of Regulation Y. Board of Governors of the Federal Reserve System, February 10, 2005. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc.05–2939 Filed 2–15–05; 8:45 am] BILLING CODE 6210–01–S Board of Governors of the Federal Reserve System, February 11, 2005. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 05–2993 Filed 2–15–05; 8:45 am] FEDERAL RESERVE SYSTEM BILLING CODE 6210–01–S Rules of Organization Federal Open Market Committee [Docket No. OP–1223] Federal Open Market Committee. ACTION: Notice; amendment to Rules of Organization. AGENCY: FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y (12 CFR Part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each notice is available for inspection at the Federal Reserve Bank indicated. The notice also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies VerDate jul<14>2003 12:44 Feb 15, 2005 Jkt 205001 SUMMARY: The Federal Open Market Committee (the ‘‘Committee’’) has amended its Rules of Organization to provide that the annual terms of Reserve Bank representatives on the Committee shall begin on the date of the Committee’s first regularly scheduled meeting of each calendar year (rather than January 1 of each year). The Committee also has made other minor and technical amendments to its Rules of Organization to conform the rules to current practice and to make the rules gender-neutral. DATES: The amendments to the Rules of Organization became effective on February 2, 2005. FOR FURTHER INFORMATION CONTACT: Kieran J. Fallon, Assistant General Counsel (202–452–5270), April Snyder, Attorney (202–452–3099), Legal Division; Board of Governors of the 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 PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 7947 Telecommunication Device for Deaf (TTD) only, call (202) 263–4869. SUPPLEMENTARY INFORMATION: The Committee is composed of the members of the Board of Governors of the Federal Reserve System and five representatives of the Federal Reserve Banks. The Reserve Bank representatives on the Committee are elected annually in the manner set forth in section 12A of the Federal Reserve Act (12 U.S.C. 263(a)). An alternate also is elected annually for each Reserve Bank representative, and the alternate serves on the Committee in the absence of the relevant Reserve Bank representative.1 The Federal Reserve Act authorizes the Board to prescribe regulations governing the details of the elections of Reserve Bank representatives and alternates.2 The Committee has amended its Rules of Organization to provide that the annual terms of the Committee’s Reserve Bank members (and alternates) shall begin on the date of the Committee’s first regularly scheduled meeting of each calendar year (rather than on January 1st of each year). With this change, the annual terms of the Committee’s Reserve Bank representatives (and alternates) will run from the Committee’s first regularly scheduled meeting of a calendar year to the Committee’s first regularly scheduled meeting of the next calendar year. The amendment synchronizes the terms of the Reserve Bank representatives (and alternates) with the terms of the Committee’s officers and staff, who currently are elected annually at the Committee’s first regularly scheduled meeting of each year. The Committee also has amended its Rules of Organization to clarify that the Committee’s officers and staff are elected at the Committee’s first regularly scheduled meeting of each year, and to reflect the fact that the Committee currently appoints only one Manager for the System Open Market Account. These changes conform the rules to the Committee’s current practice. Finally, the Committee has modified sections 2(b), 4(b), and 5 of its Rules of Organization to make the rules genderneutral. The Committee has incorporated the amendments into the Committee’s Rules of Organization. The Committee’s Rules of Organization are uncodified regulations for use by the Committee, issued pursuant to 5 U.S.C. 552. Because the amendments relate solely to the internal organization, procedure or 1 Each Reserve Bank representative and alternate must be a president or first vice president of a Reserve Bank. 2 See 12 U.S.C. 263(a). E:\FR\FM\16FEN1.SGM 16FEN1 7948 Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Notices practice of the Committee, the public notice, public comment, and delayed effective date provisions of the Administrative Procedure Act do not apply.3 For the reasons discussed above, the Committee has amended its Rules of Organization as follows: 1. Section 2(b) of the Rules of Organization is revised to read as follows: Section 2—Composition of Committee * * * * * (b) Reserve Bank representatives. The representatives of the Federal Reserve Banks, and an alternate for each representative, are elected by the boards of directors of the Reserve Banks in accordance with section 12A of the Federal Reserve Act (12 U.S.C. 263) for annual terms commencing on the date of the first regularly scheduled meeting of the Committee occurring on or after January 1 of each year. Prior to the first regularly scheduled meeting of the Committee on or after January 1 of each year, each member of the Committee representing the Federal Reserve Banks shall cause a record of the member’s election and of the election of the member’s alternate to be forwarded to the secretary of the Committee. If any question is raised as to the election or eligibility of a member or alternate, the Committee determines such question before such member or alternate participates in a meeting of the Committee. In the event a member is absent from a meeting of the Committee, the member’s alternate, in attending the meeting, shall have the same status as the member for whom the alternate is serving. If a member or alternate ceases to be a president or first vice president of a Reserve Bank, a successor may be chosen in a special election by the boards of directors of the appropriate Reserve Bank or Banks and such successor serves until the next annual election. * * * * * 2. The first sentence of § 3 of the Rules of Organization is revised to read as follows: Section 3—Chairman and Vice Chairman At its first regularly scheduled meeting on or after January 1 of each year, the Committee elects a chairman and a vice chairman from among its membership.* * * 3. Paragraphs (a) and (b) of § 4 of the Rules of Organization are revised to read as follows: 3 See 12:44 Feb 15, 2005 (a) Selection of staff officers. At its first regularly scheduled meeting on or after January 1 of each year, the Committee selects, from among the officers and employees of the Board and the Federal Reserve Banks, the following staff officers to serve until the first regularly scheduled meeting on or after January 1 of the next following year: secretary, deputy secretary, and one or more assistant secretaries; general counsel, deputy general counsel, and one or more assistant general counsels; economists, one or more of whom may be designated as senior or associate economists or given titles reflecting their areas of particular specialization; and such other officers as the Committee might wish from time to time. (b) Secretary and deputy and assistant secretaries. The secretary keeps minutes of actions and records of discussions at all meetings of the Committee; maintains a complete record of the actions taken by the Committee upon all questions of policy relating to open market operations; and records the votes taken in connection with the determination of open market policies and the reasons underlying each such action. The secretary has custody of such minutes and records, and performs such other duties as the Committee may require. In the absence of the secretary of the Committee, the deputy secretary or an assistant secretary acts as secretary pro tem. * * * * * 4. Section 5 of the Rules of Organization and its heading are revised to read as follows: Section 5—Manager The Committee selects a Manager of the System Open Market Account. The foregoing shall be satisfactory to the Federal Reserve Bank selected by the Committee to execute open market transactions for such Account and shall serve at the pleasure of the Committee. The Manager keeps the Committee informed on market conditions and on transactions made for such Account and renders such reports as the Committee may specify. By order of the Federal Open Market Committee, February 8, 2005. Vincent R. Reinhart, Secretary, Federal Open Market Committee. [FR Doc. 05–2776 Filed 2–15–05; 8:45 am] BILLING CODE 6210–01–P 5 U.S.C. 553(b) and (d). VerDate jul<14>2003 Section 4—Staff Jkt 205001 PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Sunshine Act Meeting 9 a.m. (e.s.t.) February 22, 2005. PLACE: 4th Floor Conference Room, 1250 H Street, NW., Washington, DC. STATUS: Parts will be open to the public and parts closed to the public. MATTERS TO BE CONSIDERED: TIME AND DATE: Parts Open to the Public 1. Approval of the minutes of the January 19, 2005, Board member meeting. 2. Thrift Savings Plan activity report by the Executive Director. Parts Closed to the Public 3. Procurement. FOR FURTHER INFORMATION CONTACT: Thomas J. Trabucco, Director, Office of External Affairs, (202) 942–1640. Dated: February 14, 2005. Elizabeth S. Woodruff, Secretary to the Board, Federal Retirement Thrift Investment Board. [FR Doc. 05–3105 Filed 2–14–05; 3:00 pm] BILLING CODE 6760–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention Advisory Committee to the Director, Centers for Disease Control and Prevention In accordance with section 10(a)(2) of the Federal Advisory Committee Act (Pub. L. 92–463), the Centers for Disease Control and Prevention (CDC) announces the following Advisory Committee meeting. Name: Advisory Committee to the Director, CDC. Time and Date: 8:30 a.m.–4:30 p.m., March 3, 2005. Place: Centers for Disease Control and Prevention, Century Center Facility, 1825 Century Boulevard, NE., Atlanta, Georgia 30345, Rooms 1A and 1B. Status: Open to the public, limited only by the space available. The meeting room accommodates approximately 65 people. Purpose: The committee will provide advice to the CDC Director on strategic and other broad issues facing CDC. Matters to be Discussed: Agenda items will include discussion of the CDC Futures Initiative and updates on CDC priorities with discussions of program E:\FR\FM\16FEN1.SGM 16FEN1

Agencies

[Federal Register Volume 70, Number 31 (Wednesday, February 16, 2005)]
[Notices]
[Pages 7947-7948]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-2776]


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FEDERAL RESERVE SYSTEM

Federal Open Market Committee

[Docket No. OP-1223]


Rules of Organization

AGENCY: Federal Open Market Committee.

ACTION: Notice; amendment to Rules of Organization.

-----------------------------------------------------------------------

SUMMARY: The Federal Open Market Committee (the ``Committee'') has 
amended its Rules of Organization to provide that the annual terms of 
Reserve Bank representatives on the Committee shall begin on the date 
of the Committee's first regularly scheduled meeting of each calendar 
year (rather than January 1 of each year). The Committee also has made 
other minor and technical amendments to its Rules of Organization to 
conform the rules to current practice and to make the rules gender-
neutral.

DATES: The amendments to the Rules of Organization became effective on 
February 2, 2005.

FOR FURTHER INFORMATION CONTACT: Kieran J. Fallon, Assistant General 
Counsel (202-452-5270), April Snyder, Attorney (202-452-3099), Legal 
Division; Board of Governors of the 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: The Committee is composed of the members of 
the Board of Governors of the Federal Reserve System and five 
representatives of the Federal Reserve Banks. The Reserve Bank 
representatives on the Committee are elected annually in the manner set 
forth in section 12A of the Federal Reserve Act (12 U.S.C. 263(a)). An 
alternate also is elected annually for each Reserve Bank 
representative, and the alternate serves on the Committee in the 
absence of the relevant Reserve Bank representative.\1\ The Federal 
Reserve Act authorizes the Board to prescribe regulations governing the 
details of the elections of Reserve Bank representatives and 
alternates.\2\
---------------------------------------------------------------------------

    \1\ Each Reserve Bank representative and alternate must be a 
president or first vice president of a Reserve Bank.
    \2\ See 12 U.S.C. 263(a).
---------------------------------------------------------------------------

    The Committee has amended its Rules of Organization to provide that 
the annual terms of the Committee's Reserve Bank members (and 
alternates) shall begin on the date of the Committee's first regularly 
scheduled meeting of each calendar year (rather than on January 1st of 
each year). With this change, the annual terms of the Committee's 
Reserve Bank representatives (and alternates) will run from the 
Committee's first regularly scheduled meeting of a calendar year to the 
Committee's first regularly scheduled meeting of the next calendar 
year. The amendment synchronizes the terms of the Reserve Bank 
representatives (and alternates) with the terms of the Committee's 
officers and staff, who currently are elected annually at the 
Committee's first regularly scheduled meeting of each year.
    The Committee also has amended its Rules of Organization to clarify 
that the Committee's officers and staff are elected at the Committee's 
first regularly scheduled meeting of each year, and to reflect the fact 
that the Committee currently appoints only one Manager for the System 
Open Market Account. These changes conform the rules to the Committee's 
current practice. Finally, the Committee has modified sections 2(b), 
4(b), and 5 of its Rules of Organization to make the rules gender-
neutral.
    The Committee has incorporated the amendments into the Committee's 
Rules of Organization. The Committee's Rules of Organization are 
uncodified regulations for use by the Committee, issued pursuant to 5 
U.S.C. 552. Because the amendments relate solely to the internal 
organization, procedure or

[[Page 7948]]

practice of the Committee, the public notice, public comment, and 
delayed effective date provisions of the Administrative Procedure Act 
do not apply.\3\
---------------------------------------------------------------------------

    \3\ See 5 U.S.C. 553(b) and (d).
---------------------------------------------------------------------------

    For the reasons discussed above, the Committee has amended its 
Rules of Organization as follows:
    1. Section 2(b) of the Rules of Organization is revised to read as 
follows:

Section 2--Composition of Committee

* * * * *
    (b) Reserve Bank representatives. The representatives of the 
Federal Reserve Banks, and an alternate for each representative, are 
elected by the boards of directors of the Reserve Banks in accordance 
with section 12A of the Federal Reserve Act (12 U.S.C. 263) for annual 
terms commencing on the date of the first regularly scheduled meeting 
of the Committee occurring on or after January 1 of each year. Prior to 
the first regularly scheduled meeting of the Committee on or after 
January 1 of each year, each member of the Committee representing the 
Federal Reserve Banks shall cause a record of the member's election and 
of the election of the member's alternate to be forwarded to the 
secretary of the Committee. If any question is raised as to the 
election or eligibility of a member or alternate, the Committee 
determines such question before such member or alternate participates 
in a meeting of the Committee. In the event a member is absent from a 
meeting of the Committee, the member's alternate, in attending the 
meeting, shall have the same status as the member for whom the 
alternate is serving. If a member or alternate ceases to be a president 
or first vice president of a Reserve Bank, a successor may be chosen in 
a special election by the boards of directors of the appropriate 
Reserve Bank or Banks and such successor serves until the next annual 
election.
* * * * *
    2. The first sentence of Sec.  3 of the Rules of Organization is 
revised to read as follows:

Section 3--Chairman and Vice Chairman

    At its first regularly scheduled meeting on or after January 1 of 
each year, the Committee elects a chairman and a vice chairman from 
among its membership.* * *
    3. Paragraphs (a) and (b) of Sec.  4 of the Rules of Organization 
are revised to read as follows:

Section 4--Staff

    (a) Selection of staff officers. At its first regularly scheduled 
meeting on or after January 1 of each year, the Committee selects, from 
among the officers and employees of the Board and the Federal Reserve 
Banks, the following staff officers to serve until the first regularly 
scheduled meeting on or after January 1 of the next following year: 
secretary, deputy secretary, and one or more assistant secretaries; 
general counsel, deputy general counsel, and one or more assistant 
general counsels; economists, one or more of whom may be designated as 
senior or associate economists or given titles reflecting their areas 
of particular specialization; and such other officers as the Committee 
might wish from time to time.
    (b) Secretary and deputy and assistant secretaries. The secretary 
keeps minutes of actions and records of discussions at all meetings of 
the Committee; maintains a complete record of the actions taken by the 
Committee upon all questions of policy relating to open market 
operations; and records the votes taken in connection with the 
determination of open market policies and the reasons underlying each 
such action. The secretary has custody of such minutes and records, and 
performs such other duties as the Committee may require. In the absence 
of the secretary of the Committee, the deputy secretary or an assistant 
secretary acts as secretary pro tem.
* * * * *
    4. Section 5 of the Rules of Organization and its heading are 
revised to read as follows:

Section 5--Manager

    The Committee selects a Manager of the System Open Market Account. 
The foregoing shall be satisfactory to the Federal Reserve Bank 
selected by the Committee to execute open market transactions for such 
Account and shall serve at the pleasure of the Committee. The Manager 
keeps the Committee informed on market conditions and on transactions 
made for such Account and renders such reports as the Committee may 
specify.

    By order of the Federal Open Market Committee, February 8, 2005.
Vincent R. Reinhart,
Secretary, Federal Open Market Committee.
[FR Doc. 05-2776 Filed 2-15-05; 8:45 am]
BILLING CODE 6210-01-P

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