Federal Open Market Committee; Domestic Policy Directive of March 13, 2012, 22577 [2012-8918]

Download as PDF Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Notices Commission’s Rules of Practice and Procedure, 46 CFR 502.2, as well as being mailed directly to all parties of record; Finally, it is ordered That pursuant to the terms of Rule 61 of the Commission’s Rules of Practice and Procedure, 46 CFR 502.61, the final decision of the Commission in this proceeding shall be issued by August 9, 2012. necessary to facilitate settlement of the Federal Reserve’s agency MBS transactions. 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, April 9, 2012. William B. English, Secretary, Federal Open Market Committee. [FR Doc. 2012–9099 Filed 4–13–12; 8:45 am] [FR Doc. 2012–8918 Filed 4–13–12; 8:45 am] BILLING CODE 6730–01–P BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM FEDERAL RESERVE SYSTEM Federal Open Market Committee; Domestic Policy Directive of March 13, 2012 emcdonald on DSK29S0YB1PROD with NOTICES By the Commission. Karen V. Gregory, Secretary. Formations of, Acquisitions by, and Mergers of Bank Holding Companies In accordance with Section 271.7(d) 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 March 13, 2012.1 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 continue the maturity extension program it began in September to purchase, by the end of June 2012, Treasury securities with remaining maturities of approximately 6 years to 30 years with a total face value of $400 billion, and to sell Treasury securities with remaining maturities of 3 years or less with a total face value of $400 billion. The Committee also directs the Desk to maintain its existing policies of rolling over maturing Treasury securities into new issues and of reinvesting principal payments on all agency debt and agency mortgagebacked securities in the System Open Market Account in agency mortgagebacked securities in order to maintain the total face value of domestic securities at approximately $2.6 trillion. The Committee directs the Desk to engage in dollar roll transactions as 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on March 13, 2012, which includes the domestic policy directive issued at the meeting, are available on the Board’s Web site, www.federalreserve.gov. The minutes are also published in the Federal Reserve Bulletin and in the Board’s Annual Report. VerDate Mar<15>2010 14:39 Apr 13, 2012 Jkt 226001 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 will also 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. 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 May 11, 2012. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. FNB Bancshares, Inc., Independence, Kansas; to become a bank holding company by acquiring 100 percent of the voting shares of First National Bank, Independence, Kansas. PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 22577 B. Federal Reserve Bank of San Francisco (Kenneth Binning, Vice President, Applications and Enforcement) 101 Market Street, San Francisco, California 94105–1579: 1. Carpenter Fund Manager GP, LLC, Carpenter Fund Management Company, LLC, Carpenter Community Bancfund, L.P., Carpenter Community BanFund— A, L.P., Carpenter Community BandFund—CA, L.P., CCFW, Inc., and Carpenter Bank Partners, Inc., all in Irvine, California; to acquire additional voting shares, for a total of approximately 78 percent of the voting shares, of Manhattan Bancorp, and thereby indirectly acquire additional voting shares of Bank of Manhattan, National Association, both in El Segundo, California. Board of Governors of the Federal Reserve System, April 11, 2012. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2012–9032 Filed 4–13–12; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction This notice corrects a notice (FR Doc. 2012–08198) published on page 20635 of the issue for Thursday, April 5, 2012. Under the Federal Reserve Bank of Kansas City heading, the entry for Arthur L. Loomis, II, Patricia A. Loomis, Genevieve E. Loomis, and Julia P. Loomis, all of Niskayuna, New York; Frederick S. Loomis, Anne M. Loomis, and J. Porter Loomis, all of Pratt, Kansas; Howard K. Loomis, Jr., Karen P. Loomis, Katherine P. Loomis, Margaret P. Loomis, and Victoria K. Loomis, all of Los Gatos, California, as individuals and/or trustees of the 2011 Arthur L. Loomis, II Gift Trust, Julia P. Loomis Revocable Trust, Arthur L. Loomis, II Revocable Trust, Genevieve E. Loomis Revocable Trust, all of Niskayuna, New York; Howard K. Loomis Revocable Trust, 2010 Howard K. Loomis Irrevocable Family Trust, Porter Legacy Trust, Florence Porter Loomis Trust, 2010 Florence Porter Loomis Irrevocable Family Trust, 2011 Frederick S. Loomis Gift Trust, 2011 J. Porter Loomis Gift Trust, all of Pratt, Kansas; 2011 Howard K. Loomis Jr. Gift Trust, The Loomis 1993 Revocable Trust, both of Los Gatos, California; and Flopper, L.P., How-Kan, L.P., and Driftwood, LLC, all of Pratt, Kansas; and all as members of the Loomis Family Group, is revised to read as follows: E:\FR\FM\16APN1.SGM 16APN1

Agencies

[Federal Register Volume 77, Number 73 (Monday, April 16, 2012)]
[Notices]
[Page 22577]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-8918]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of March 
13, 2012

    In accordance with Section 271.7(d) 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 March 13, 2012.\1\
---------------------------------------------------------------------------

    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on March 13, 2012, which includes the domestic 
policy directive issued at the meeting, are available on the Board's 
Web site, www.federalreserve.gov. The minutes are also 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 continue the maturity extension program it began in September 
to purchase, by the end of June 2012, Treasury securities with 
remaining maturities of approximately 6 years to 30 years with a total 
face value of $400 billion, and to sell Treasury securities with 
remaining maturities of 3 years or less with a total face value of $400 
billion. The Committee also directs the Desk to maintain its existing 
policies of rolling over maturing Treasury securities into new issues 
and of reinvesting principal payments on all agency debt and agency 
mortgage-backed securities in the System Open Market Account in agency 
mortgage-backed securities in order to maintain the total face value of 
domestic securities at approximately $2.6 trillion. The Committee 
directs the Desk to engage in dollar roll transactions as necessary to 
facilitate settlement of the Federal Reserve's agency MBS transactions. 
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, April 9, 2012.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2012-8918 Filed 4-13-12; 8:45 am]
BILLING CODE 6210-01-P
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