Federal Open Market Committee; Domestic Policy Directive of January 27 and 28, 2009, 9245 [E9-4471]

Download as PDF Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices Proposed Consent Agreement. FEDERAL RESERVE SYSTEM ACTION: Federal Open Market Committee; Domestic Policy Directive of January 27 and 28, 2009 SUMMARY: The consent agreement in this matter settles alleged violations of federal law prohibiting unfair or deceptive acts or practices or unfair methods of competition. The attached Analysis to Aid Public Comment describes both the allegations in the draft complaint and the terms of the consent order—embodied in the consent agreement—that would settle these allegations. DATES: Comments must be received on or before March 27, 2009. ADDRESSES: Interested parties are invited to submit written comments. Comments should refer to ‘‘Lubrizol and Lockhart, File No. 071 0230,’’ to facilitate the organization of comments. A comment filed in paper form should include this reference both in the text and on the envelope, and should be mailed or delivered to the following address: Federal Trade Commission/ Office of the Secretary, Room 135-H, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580. Comments containing confidential material must be filed in paper form, must be clearly labeled ‘‘Confidential,’’ and must comply with Commission Rule 4.9(c). 16 CFR 4.9(c) (2005).1 The FTC is requesting that any comment filed in paper form be sent by courier or overnight service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions. Comments that do not contain any nonpublic information may instead be filed in electronic form by following the instructions on the webbased form at (http:// secure.commentworks.com/ftcLubrizolLockhart). To ensure that the Commission consider an electronic comment, you must file it on that webbased form. The FTC Act and other laws the Commission administers permit the collection of public comments to consider and use in this proceeding as appropriate. All timely and responsive public comments, whether filed in paper or electronic form, will be considered by the Commission, and will be available to the public on the FTC website, to the extent practicable, at www.ftc.gov. As a matter of discretion, 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 January 27 and 28, 2009.1 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 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 this 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, February 19, 2009. Brian F. Madigan, Secretary, Federal Open Market Committee. [FR Doc. E9–4471 Field 3–2–09; 8:45 am] BILLING CODE 6210–01–S FEDERAL TRADE COMMISSION [File No. 071 0230] The Lubrizol Corporation and The Lockhart Company; Analysis of Agreement Containing Consent Order to Aid Public Comment mstockstill on PROD1PC66 with NOTICES AGENCY: Federal Trade Commission. 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on January 27 and 28, 2009, 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 16:42 Mar 02, 2009 Jkt 217001 1 The comment must be accompanied by an explicit request for confidential treatment, including the factual and legal basis for the request, and must identify the specific portions of the comment to be withheld from the public record. The request will be granted or denied by the Commission’s General Counsel, consistent with applicable law and the public interest. See Commission Rule 4.9(c), 16 CFR 4.9(c). PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 9245 the FTC makes every effort to remove home contact information for individuals from the public comments it receives before placing those comments on the FTC website. More information, including routine uses permitted by the Privacy Act, may be found in the FTC’s privacy policy, at (http://www.ftc.gov/ ftc/privacy.shtm). FOR FURTHER INFORMATION CONTACT: Leonard L. Gordon, Nancy Turnblacer, and Alan B. Loughnan, Northeast Regional Office, 600 Pennsylvania Avenue, NW, Washington, D.C. 20580, (212) 607-2829. SUPPLEMENTARY INFORMATION: Pursuant to section 6(f) of the Federal Trade Commission Act, 38 Stat. 721, 15 U.S.C. 46(f), and § 2.34 of the Commission Rules of Practice, 16 CFR 2.34, notice is hereby given that the above-captioned consent agreement containing a consent order to cease and desist, having been filed with and accepted, subject to final approval, by the Commission, has been placed on the public record for a period of thirty (30) days. The following Analysis to Aid Public Comment describes the terms of the consent agreement, and the allegations in the complaint. An electronic copy of the full text of the consent agreement package can be obtained from the FTC Home Page (for February 26, 2009), on the World Wide Web, at (http:// www.ftc.gov/os/2009/02/index.htm). A paper copy can be obtained from the FTC Public Reference Room, Room 130H, 600 Pennsylvania Avenue, NW, Washington, D.C. 20580, either in person or by calling (202) 326-2222. Public comments are invited, and may be filed with the Commission in either paper or electronic form. All comments should be filed as prescribed in the ADDRESSES section above, and must be received on or before the date specified in the DATES section. Analysis of Agreement Containing Consent Order to Aid Public Comment I. Introduction The Federal Trade Commission (‘‘Commission’’) has accepted, subject to final approval, an Agreement Containing Consent Order (‘‘Consent Agreement’’) from The Lubrizol Corporation and The Lockhart Company (‘‘Respondents’’). The Consent Agreement is intended to resolve anticompetitive effects stemming from The Lubrizol Corporation’s (‘‘Lubrizol’’) acquisition of certain assets of The Lockhart Company (‘‘Lockhart’’) in the United States market for rust preventives containing oxidates. Under the terms of the proposed Consent Agreement, Lubrizol is required to E:\FR\FM\03MRN1.SGM 03MRN1

Agencies

[Federal Register Volume 74, Number 40 (Tuesday, March 3, 2009)]
[Notices]
[Page 9245]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4471]



[[Page 9245]]

=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
January 27 and 28, 2009

    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 January 27 and 28, 2009.\1\
---------------------------------------------------------------------------

    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee at its meeting held on January 27 and 28, 2009, 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 this 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, February 19, 2009.

Brian F. Madigan,
Secretary, Federal Open Market Committee.
[FR Doc. E9-4471 Field 3-2-09; 8:45 am]
BILLING CODE 6210-01-S