Federal Open Market Committee; Domestic Policy Directive of December 15 and 16, 2008, 4747 [E9-1603]

Download as PDF Federal Register / Vol. 74, No. 16 / Tuesday, January 27, 2009 / Notices 1. David Weir Wood, II, Laura Halsey Wood, John Halsey Wood, David Weir Wood, II, Sidney Wood Clap, Katherine Wood Hamilton, all of Birmingham, Alabama, and Susan Soule Wood, Pensacola, Florida; to acquire additional shares of Capital South Bancorp, and its subsidiary CapitalSouth Bank, both of Birmingham, Alabama. 2. Harold B. Dunn, Birmingham, Alabama, Harold Crockett Dunn, Salinas, California, and Rebecca Dunn Bryant, Fairhope, Alabama; to acquire additional voting shares of CapitalSouth Bancorp, and its subsidiary, CapitalSouth Bank, both of Birmingham, Alabama. B. Federal Reserve Bank of Kansas City (Todd Offerbacker, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001: 1. Matthew A. Michaelis, New York, New York, and Amy L. Madsen, Wichita, Kansas, as proposed trustees of the M.D. Michaelis Trust F, the Paula Sue Michaelis Trust F, the Matthew Michaelis Trust F, the Amy Loflin Trust F, and the Laura Haunschild Trust F, all dated October 27, 2003, Wichita, Kansas; to acquire voting shares of Emprise Financial Corporation, and thereby acquire shares of Emprise Bank, both in Wichita, Kansas. Board of Governors of the Federal Reserve System, January 22, 2009. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E9–1697 Filed 1–26–09; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM Federal Open Market Committee; Domestic Policy Directive of December 15 and 16, 2008 mstockstill on PROD1PC66 with NOTICES6 In accordance with § 271.25 of its rules regarding availability of information (12 CFR part 271), there is set forth below the domestic policy directive issued by the Federal Open Market Committee at its meeting held on December 15 and 16, 2008.1 The Federal Open Market Committee seeks monetary and financial conditions that will foster price stability and promote sustainable growth in output. To further its long–run objectives, the Committee seeks conditions in reserve markets consistent with federal funds 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on December 15 and 16, 2008, which includes the domestic policy directive issued at the meeting, are available upon request to the Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The minutes are published in the Federal Reserve Bulletin and in the Board’s annual report. VerDate Nov<24>2008 17:20 Jan 26, 2009 Jkt 217001 trading in a range of 0 to 1⁄4 percent. The Committee directs the Desk to purchase GSE debt and agency–guaranteed MBS during the intermeeting period with the aim of providing support to the mortgage and housing markets. The timing and pace of these purchases should depend on conditions in the markets for such securities and on a broader assessment of conditions in primary mortgage markets and the housing sector. By the end of the second quarter of next year, the Desk is expected to purchase up to $100 billion in housing–related GSE debt and up to $500 billion in agency–guaranteed MBS. The System Open Market Account Manager and the Secretary will keep the Committee informed of ongoing developments regarding the System’s balance sheet that could affect the attainment over time of the Committee’s objectives of maximum employment and price stability. By order of the Federal Open Market Committee, January 14, 2009. Brian F. Madigan, Secretary, Federal Open Market Committee. [FR Doc. E9–1603 Filed 1–26–09; 8:45 am] BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR Part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The applications also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the 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. PO 00000 Frm 00017 Fmt 4703 Sfmt 4703 4747 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 February 20, 2009. A. Federal Reserve Bank of Boston (Richard Walker, Community Affairs Officer) P.O. Box 55882, Boston, Massachusetts 02106-2204: 1. Independent Bank Corp., Rockland, Massachusetts; to merge with Benjamin Franklin Bancorp, Inc., and thereby acquire its subsidiary bank, Benjamin Franklin Bank, both of Franklin, Massachusetts. B. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528: 1. Live Oak Bancshares, Inc., Wilmington, North Carolina; to become a bank holding company by acquiring 100 percent of the voting shares of Live Oak Banking Company, Wilmington, North Carolina. C. Federal Reserve Bank of Kansas City (Todd Offerbacker, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001: 1. Manhattan Banking Corporation, Manhattan, Kansas; to acquire 5.4 percent of the voting shares of Sonoran Bank, National Association, Phoenix Arizona. 2. Manhattan Banking Corporation, Manhattan, Kansas; to retain 5.1 percent of the voting shares of BOTS, Inc., and thereby retain shares of Vision Bank, both of Topeka Kansas. Board of Governors of the Federal Reserve System, January 22, 2009. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E9–1698 Filed 1–26–09; 8:45 am] BILLING CODE 6210–01–S DEPARTMENT OF HEALTH AND HUMAN SERVICES Agency Information Collection Request; 30-Day Public Comment Request, Grants Office of the Secretary, HHS. Agency Information Collection Request; 30-Day Public Comment Request, Grants. In compliance with the requirement of section 3506(c)(2)(A) of the Paperwork Reduction Act of 1995, the Office of the Secretary (OS), Department of Health and Human Services, is AGENCY: E:\FR\FM\27JAN1.SGM 27JAN1

Agencies

[Federal Register Volume 74, Number 16 (Tuesday, January 27, 2009)]
[Notices]
[Page 4747]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-1603]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
December 15 and 16, 2008

    In accordance with Sec.  271.25 of its rules regarding availability 
of information (12 CFR part 271), there is set forth below the domestic 
policy directive issued by the Federal Open Market Committee at its 
meeting held on December 15 and 16, 2008.\1\
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    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee at its meeting held on December 15 and 16, 2008, which 
includes the domestic policy directive issued at the meeting, are 
available upon request to the Board of Governors of the Federal 
Reserve System, Washington, D.C. 20551. The minutes are published in 
the Federal Reserve Bulletin and in the Board's annual report.
---------------------------------------------------------------------------

    The Federal Open Market Committee seeks monetary and financial 
conditions that will foster price stability and promote sustainable 
growth in output. To further its long-run objectives, the Committee 
seeks conditions in reserve markets consistent with federal funds 
trading in a range of 0 to \1/4\ percent. The Committee directs the 
Desk to purchase GSE debt and agency-guaranteed MBS during the 
intermeeting period with the aim of providing support to the mortgage 
and housing markets. The timing and pace of these purchases should 
depend on conditions in the markets for such securities and on a 
broader assessment of conditions in primary mortgage markets and the 
housing sector. By the end of the second quarter of next year, the Desk 
is expected to purchase up to $100 billion in housing-related GSE debt 
and up to $500 billion in agency-guaranteed MBS. The System Open Market 
Account Manager and the Secretary will keep the Committee informed of 
ongoing developments regarding the System's balance sheet that could 
affect the attainment over time of the Committee's objectives of 
maximum employment and price stability.

    By order of the Federal Open Market Committee, January 14, 2009.
Brian F. Madigan,
Secretary, Federal Open Market Committee.
[FR Doc. E9-1603 Filed 1-26-09; 8:45 am]
BILLING CODE 6210-01-S
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