Federal Open Market Committee; Domestic Policy Directive of November 3 and 4, 2009, 65124 [E9-29266]

Download as PDF 65124 Federal Register / Vol. 74, No. 235 / Wednesday, December 9, 2009 / Notices Federal Communications Commission. Marlene H. Dortch, Secretary, Office of the Secretary, Office of Managing Director. [FR Doc. E9-29309 Filed 12–8–09; 8:45 am] Board of Governors of the Federal Reserve System, December 4, 2009. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E9–29319 Filed 12–8–09; 8:45 am] Brian F. Madigan, Secretary, Federal Open Market Committee. [FR Doc. E9–29266 Filed 12–8–09; 8:45 am] BILLING CODE 6210–01–S BILLING CODE 6210–01–S FEDERAL RESERVE SYSTEM FEDERAL RESERVE SYSTEM Federal Open Market Committee; Domestic Policy Directive of November 3 and 4, 2009 and/or correct any hazard to air navigation. Formations of, Acquisitions by, and Mergers of Bank Holding Companies By order of the Federal Open Market Committee, November 30, 2009. BILLING CODE: 6712–01–S FEDERAL RESERVE SYSTEM WReier-Aviles on DSKGBLS3C1PROD with NOTICES Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than December 24, 2009. A. Federal Reserve Bank of Atlanta (Steve Foley, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309: 1. Karl Brent Vidrine, Executor for the Estate of Thelma Cummings Guilbeau, Sunset, Louisiana; to retain voting shares of Sunset Bancorp, Inc., and thereby indirectly retain voting shares of Bank of Sunset & Trust Company, both of Sunset, Louisiana. B. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. The Terry Beach Edwards Living Trust: The Ross Beach Living Trust; The Marianna Beach Living Trust; The 2009 Marianna Beach Irrevocable Trust; and Terry Beach Edwards, all of Hutchinson, Kansas; individually and as trustee, acting as a group in concert to retain control of Kansas Natural Gas, Inc., Hays, Kansas, and thereby indirectly retain control of Douglas County Bank, Lawrence, Kansas. VerDate Nov<24>2008 15:02 Dec 08, 2009 Jkt 220001 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 November 3 and 4, 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 from 0 to 1⁄4 percent. The Committee directs the Desk to purchase agency debt agency and agency MBS during the intermeeting period with the aim of providing support to private credit markets and economic activity. The timing and pace of these purchases should depend on conditions in the markets for such securities and on a broader assessment of private credit market conditions. The Desk is expected to execute purchases of about $175 billion in housing–related agency debt and about $1.25 trillion of agency MBS by the end of the first quarter of 2010. The Desk is expected to gradually slow the pace of these purchases as they near completion. The Committee anticipates that outright purchases of securities will cause the size of the Federal Reserve’s balance sheet to expand significantly in coming months. 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. 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on November 3 and 4, 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. PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 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. 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 January 4, 2010. A. Federal Reserve Bank of Atlanta (Steve Foley, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309: 1. Apollo Bancshares, Inc., Coral Gables, Florida; to become a bank holding company by acquiring 50.5 percent of the voting shares of Union Credit Bank, Miami, Florida. B. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: E:\FR\FM\09DEN1.SGM 09DEN1

Agencies

[Federal Register Volume 74, Number 235 (Wednesday, December 9, 2009)]
[Notices]
[Page 65124]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-29266]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
November 3 and 4, 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 November 3 and 4, 2009.\1\
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    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee at its meeting held on November 3 and 4, 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.
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    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 from 0 to \1/4\ percent. The Committee directs the 
Desk to purchase agency debt agency and agency MBS during the 
intermeeting period with the aim of providing support to private credit 
markets and economic activity. The timing and pace of these purchases 
should depend on conditions in the markets for such securities and on a 
broader assessment of private credit market conditions. The Desk is 
expected to execute purchases of about $175 billion in housing-related 
agency debt and about $1.25 trillion of agency MBS by the end of the 
first quarter of 2010. The Desk is expected to gradually slow the pace 
of these purchases as they near completion. The Committee anticipates 
that outright purchases of securities will cause the size of the 
Federal Reserve's balance sheet to expand significantly in coming 
months. 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, November 30, 2009.

Brian F. Madigan,
Secretary, Federal Open Market Committee.
[FR Doc. E9-29266 Filed 12-8-09; 8:45 am]
BILLING CODE 6210-01-S