Federal Open Market Committee; Domestic Policy Directive of June 21-22, 2011, 43687 [2011-18430]
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Federal Register / Vol. 76, No. 140 / Thursday, July 21, 2011 / Notices
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue, NW., Washington,
DC 20551.
All public comments are available from
the Board’s Web site at https://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper form in Room MP–500 of the
Board’s Martin Building (20th and C
Streets, NW.) between 9 a.m. and 5 p.m.
on weekdays.
Additionally, commenters should
send a copy of their comments to the
OMB Desk Officer by mail to the Office
of Information and Regulatory Affairs,
U.S. Office of Management and Budget,
New Executive Office Building, Room
10235, 725 17th Street, NW.,
Washington, DC 20503 or by fax to 202–
395–6974.
FOR FURTHER INFORMATION CONTACT: A
copy of the PRA OMB submission,
including the proposed reporting form
and instructions, supporting statement,
and other documentation will be placed
into OMB’s public docket files, once
approved. These documents will also be
made available on the Federal Reserve
Board’s public Web site at: https://
www.federalreserve.gov/boarddocs/
reportforms/review.cfm or may be
requested from the agency clearance
officer, whose name appears below.
Cynthia Ayouch, Acting Federal Reserve
Board Clearance Officer (202–452–
3829), Division of Research and
Statistics, Board of Governors of the
Federal Reserve System, Washington,
DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact
(202–263–4869), Board of Governors of
the Federal Reserve System,
Washington, DC 20551.
wreier-aviles on DSKDVH8Z91PROD with NOTICES
Proposal To Approve Under OMB
Delegated Authority the Extension for
Three Years, Without Revision of the
Following Information Collection
Report title: The Recordkeeping,
Reporting and Disclosure Requirements
in Connection with Regulation BB
(Community Reinvestment Act (CRA)).
Agency form number: Reg BB.
OMB control number: 7100–0197.
Frequency: Annually.
Reporters: State member banks
(SMBs).
Annual reporting hours: 52,127 hours.
Estimated average hours per response:
Recordkeeping Requirement, small
business and small farm loan register,
VerDate Mar<15>2010
15:00 Jul 20, 2011
Jkt 223001
219 hours. Optional Recordkeeping
Requirements, consumer loan data, 326
hours and other loan data, 25 hours.
Reporting Requirements, assessment
area delineation, 2 hours; small business
and small farm loan data, 8 hours;
community development loan data, 13
hours; and HMDA out of MSA loan
data, 253 hours. Optional Reporting
Requirements, data on lending by a
consortium or third party, 17 hours;
affiliate lending data, 38 hours; strategic
plan, 275 hours; and request for
designation as a wholesale or limited
purpose bank, 4 hours. Disclosure
Requirement, public file, 10 hours.
Number of respondents:
Recordkeeping Requirement, small
business and small farm loan register,
72. Optional Recordkeeping
Requirements, consumer loan data, 24
and other loan data, 4. Reporting
Requirements, assessment area
delineation, 72; small business and
small farm loan data, 72; community
development loan data, 72; and HMDA
out of MSA loan data, 72. Optional
Reporting Requirements, data on
lending by a consortium or third party,
6; affiliate lending data, 4; strategic
plan, 1; and request for designation as
a wholesale or limited purpose bank, 1.
Disclosure Requirement, public file,
803.
General description of report: This
information collection is authorized by
section 806 of the CRA which permits
the board to issue regulations to carry
out the purpose of CRA (12 U.S.C.
2905), Section 11 of the Federal Reserve
Act (FRA), which permits the Board to
require such statements as reports of
SMBs as it deems necessary (12 U.S.C.
248(a)(1)), and section 9 of the FRA,
which permits the Board to examine
SMBs (12 U.S.C. 325). The requirements
are generally mandatory, depending on
bank size and other factors. The data
that are reported to the Federal Reserve
are not considered confidential.
Abstract: This submission covers an
extension of the Federal Reserve’s
currently approved information
collections in their CRA regulations (12
CFR Part 228). The submission involves
no change to the regulation or to the
information collection.
The Federal Reserve System needs the
information collected to fulfill their
obligations under the CRA to evaluate
and assign ratings to the performance of
institutions in connection with helping
to meet the credit needs of their
communities, including low- and
moderate-income neighborhoods,
consistent with safe and sound banking
practices. The Federal Reserve System
uses the information in the examination
process and in evaluating applications
PO 00000
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Fmt 4703
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43687
for mergers, branches, and certain other
corporate activities. Financial
institutions maintain and provide the
information to the Federal Reserve
System.
Board of Governors of the Federal Reserve
System, July 15, 2011.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2011–18339 Filed 7–20–11; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Federal Open Market Committee;
Domestic Policy Directive of June 21–
22, 2011
In accordance with Section 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 June 21–22, 2011.1
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
complete purchases of $600 billion of
longer-term Treasury securities by the
end of this month. The Committee also
directs the Desk to maintain its existing
policy of reinvesting principal payments
on all domestic securities in the System
Open Market Account in Treasury
securities in order to maintain the total
face value of domestic securities at
approximately $2.6 trillion. 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, July 13, 2011.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2011–18430 Filed 7–20–11; 8:45 am]
BILLING CODE 6210–01–P
1 Copies of the Minutes of the Federal Open
Market Committee at its meeting held on June 21–
22, 2011, 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, DC 20551. The
minutes are published in the Federal Reserve
Bulletin and in the Board’s Annual Report.
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[Federal Register Volume 76, Number 140 (Thursday, July 21, 2011)]
[Notices]
[Page 43687]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-18430]
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FEDERAL RESERVE SYSTEM
Federal Open Market Committee; Domestic Policy Directive of June
21-22, 2011
In accordance with Section 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 June 21-22, 2011.\1\
---------------------------------------------------------------------------
\1\ Copies of the Minutes of the Federal Open Market Committee
at its meeting held on June 21-22, 2011, 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,
DC 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 from 0 to \1/4\ percent. The Committee directs the
Desk to complete purchases of $600 billion of longer-term Treasury
securities by the end of this month. The Committee also directs the
Desk to maintain its existing policy of reinvesting principal payments
on all domestic securities in the System Open Market Account in
Treasury securities in order to maintain the total face value of
domestic securities at approximately $2.6 trillion. 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, July 13, 2011.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2011-18430 Filed 7-20-11; 8:45 am]
BILLING CODE 6210-01-P
