Federal Open Market Committee Domestic Policy Directive of October 23-24, 2012, 70439 [2012-28508]

Download as PDF 70439 Federal Register / Vol. 77, No. 227 / Monday, November 26, 2012 / Notices Web site at www.fdic.gov/bank/ individual/failed/banklist.html or contact the Manager of Receivership Oversight in the appropriate service center. Dated: November 19, 2012. Federal Deposit Insurance Corporation. Pamela Johnson, Regulatory Editing Specialist. INSTITUTIONS IN LIQUIDATION [In alphabetical order] FDIC Ref. No. Bank name City 10466 ................... Hometown Community Bank ......................................................................... Braselton ............. [FR Doc. 2012–28554 Filed 11–23–12; 8:45 am] BILLING CODE 6714–01–P FEDERAL ELECTION COMMISSION Sunshine Act Notice Federal Election Commission. Wednesday, November 28, 2012 at 10:00 a.m. PLACE: 999 E Street NW., Washington, DC. STATUS: This meeting will be closed to the public. ITEMS TO BE DISCUSSED: Compliance matters pursuant to 2 U.S.C. 437g. Audits conducted pursuant to 2 U.S.C. 437g, 438(b), and Title 26, U.S.C. Matters concerning participation in civil actions or proceedings or arbitration. Internal personnel rules and procedures or matters affecting a particular employee. * * * * * PERSON TO CONTACT FOR INFORMATION: Judith Ingram, Press Officer, Telephone: (202) 694–1220. AGENCY: DATE AND TIME: Shawn Woodhead Werth, Secretary and Clerk of the Commission. [FR Doc. 2012–28757 Filed 11–21–12; 4:15 pm] BILLING CODE 6715–01–P FEDERAL RESERVE SYSTEM mstockstill on DSK4VPTVN1PROD with NOTICES Federal Open Market Committee Domestic Policy Directive of October 23–24, 2012 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 October 23–24, 2012.1 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on October 23–24, 2012, 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. VerDate Mar<15>2010 16:24 Nov 23, 2012 Jkt 229001 ‘‘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 announced in June to purchase Treasury securities with remaining maturities of 6 years to 30 years with a total face value of about $267 billion by the end of December 2012, and to sell or redeem Treasury securities with remaining maturities of approximately 3 years or less with a total face value of about $267 billion. For the duration of this program, the Committee directs the Desk to suspend its policy of rolling over maturing Treasury securities into new issues. The Committee directs the Desk to maintain its existing policy of reinvesting principal payments on all agency debt and agency mortgage-backed securities in the System Open Market Account in agency mortgage-backed securities. The Desk is also directed to continue purchasing agency mortgage-backed securities at a pace of about $40 billion per month. The Committee directs the Desk to engage in dollar roll and coupon swap 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, November 15, 2012. William B. English, Secretary, Federal Open Market Committee. [FR Doc. 2012–28508 Filed 11–23–12; 8:45 am] BILLING CODE 6210–01–P PO 00000 State Date closed GA 11/16/2012 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 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 December 19, 2012. A. Federal Reserve Bank of Dallas (E. Ann Worthy, Vice President) 2200 North Pearl Street, Dallas, Texas 75201– 2272: 1. Quanah Financial Corporation Employee Stock Ownership Plan, Quanah, Texas, to retain 32.73 percent of Quanah Financial Corporation, Quanah, Texas, and thereby indirectly acquire First Capital Bank, Quanah, Texas. Board of Governors of the Federal Reserve System. Frm 00028 Fmt 4703 Sfmt 4703 E:\FR\FM\26NON1.SGM 26NON1

Agencies

[Federal Register Volume 77, Number 227 (Monday, November 26, 2012)]
[Notices]
[Page 70439]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28508]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee Domestic Policy Directive of 
October 23-24, 2012

    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 October 23-24, 2012.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on October 23-24, 2012, 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 continue the maturity extension program it announced in June to 
purchase Treasury securities with remaining maturities of 6 years to 30 
years with a total face value of about $267 billion by the end of 
December 2012, and to sell or redeem Treasury securities with remaining 
maturities of approximately 3 years or less with a total face value of 
about $267 billion. For the duration of this program, the Committee 
directs the Desk to suspend its policy of rolling over maturing 
Treasury securities into new issues. The Committee directs the Desk to 
maintain its existing policy of reinvesting principal payments on all 
agency debt and agency mortgage-backed securities in the System Open 
Market Account in agency mortgage-backed securities. The Desk is also 
directed to continue purchasing agency mortgage-backed securities at a 
pace of about $40 billion per month. The Committee directs the Desk to 
engage in dollar roll and coupon swap 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, November 15, 
2012.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2012-28508 Filed 11-23-12; 8:45 am]
BILLING CODE 6210-01-P