Federal Open Market Committee; Domestic Policy Directive of July 29-30, 2014, 52005 [2014-20772]

Download as PDF Federal Register / Vol. 79, No. 169 / Tuesday, September 2, 2014 / Notices also will be available for inspection at the offices 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 September 16, 2014. A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice President) 1000 Peachtree Street, NE., Atlanta, Georgia 30309: 1. George League Southworth, Tampa, Florida; to retain voting shares of Pilot Bancshares, Inc., and thereby indirectly retain voting shares of Pilot Bank, both in Tampa, Florida. Board of Governors of the Federal Reserve System, August 27, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–20797 Filed 8–29–14; 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 Federal Reserve System. Notice; correction. AGENCY: ACTION: This notice corrects a notice (FR Doc. 2014–20383) published on page 51167 of the issue for Wednesday, August 27, 2014. SUMMARY: Correction Under the Federal Reserve Bank of Dallas heading, the entry for George V. Deaton and Russell E. Deaton, both of Paducah, Texas, is revised to read as follows: 1. George V. Deaton and Russell E. Deaton, both of Paducah, Texas, jointly; to acquire voting shares of First Paducah Bancshares, Inc., and thereby indirectly acquire voting shares of First National Bank, both in Paducah, Texas. Comments on this application must be received by September 11, 2014. Board of Governors of the Federal Reserve System, August 27, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–20794 Filed 8–29–14; 8:45 am] mstockstill on DSK4VPTVN1PROD with NOTICES BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Federal Open Market Committee; Domestic Policy Directive of July 29– 30, 2014 In accordance with Section 271.25 of its rules regarding availability of VerDate Mar<15>2010 16:57 Aug 29, 2014 Jkt 232001 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 July 29–30, 2014.1 Consistent with its statutory mandate, the Federal Open Market Committee seeks monetary and financial conditions that will foster maximum employment and price stability. In particular, 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 undertake open market operations as necessary to maintain such conditions. Beginning in August, the Desk is directed to purchase longer-term Treasury securities at a pace of about $15 billion per month and to purchase agency mortgage-backed securities at a pace of about $10 billion per month. The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve’s agency mortgage-backed securities transactions. The Committee directs the Desk to maintain its policy of rolling over maturing Treasury securities into new issues and its policy of reinvesting principal payments on all agency debt and agency mortgage-backed securities in agency mortgage-backed securities. 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, August 21, 2014. William B. English, Secretary, Federal Open Market Committee. [FR Doc. 2014–20772 Filed 8–29–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR Part 238), and 1 Copies of the Minutes of the Federal Open Market Committee at its meeting held on July 29– 30, 2014, 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. PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 52005 Regulation MM (12 CFR Part 239), and all other applicable statutes and regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a savings association and nonbanking companies owned by the savings and loan 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 application 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 HOLA (12 U.S.C. 1467a(e)). 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 10(c)(4)(B) of the HOLA (12 U.S.C. 1467a(c)(4)(B)). 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 September 26, 2014. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President), 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Ottawa Savings Bancorp MHC, and Ottawa Savings Bancorp, Inc., both in Ottawa, Illinois; to merge Twin Oaks Savings Bank, Marseilles, Illinois, a mutual savings bank, with and into Ottawa Savings Bank FSB, Ottawa, Illinois, with Ottawa Savings Bank as the surviving institution. Board of Governors of the Federal Reserve System, August 27, 2014. Michael J. Lewandowski, Associate Secretary of the Board. [FR Doc. 2014–20793 Filed 8–29–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Government in the Sunshine Meeting Notice Board of Governors of the Federal Reserve System. TIME AND DATE: 10:30 a.m. on Wednesday, September 3, 2014. PLACE: Marriner S. Eccles Federal Reserve Board Building, 20th Street entrance between Constitution Avenue AGENCY HOLDING THE MEETING: E:\FR\FM\02SEN1.SGM 02SEN1

Agencies

[Federal Register Volume 79, Number 169 (Tuesday, September 2, 2014)]
[Notices]
[Page 52005]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-20772]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of July 
29-30, 2014

    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 July 29-30, 2014.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on July 29-30, 2014, 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.
---------------------------------------------------------------------------

    Consistent with its statutory mandate, the Federal Open Market 
Committee seeks monetary and financial conditions that will foster 
maximum employment and price stability. In particular, 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 undertake open market operations as necessary to maintain such 
conditions. Beginning in August, the Desk is directed to purchase 
longer-term Treasury securities at a pace of about $15 billion per 
month and to purchase agency mortgage-backed securities at a pace of 
about $10 billion per month. The Committee also directs the Desk to 
engage in dollar roll and coupon swap transactions as necessary to 
facilitate settlement of the Federal Reserve's agency mortgage-backed 
securities transactions. The Committee directs the Desk to maintain its 
policy of rolling over maturing Treasury securities into new issues and 
its policy of reinvesting principal payments on all agency debt and 
agency mortgage-backed securities in agency mortgage-backed securities. 
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, August 21, 2014.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2014-20772 Filed 8-29-14; 8:45 am]
BILLING CODE 6210-01-P