[Federal Register Volume 75, Number 72 (Thursday, April 15, 2010)]
[Notices]
[Page 19647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-8593]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of March 
16, 2010

    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 March 16, 2010.\1\
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    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee at its meeting held on March 16, 2010, 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 complete the execution of its purchases of about $1.25 trillion 
of agency MBS and of about $175 billion in housing-related agency debt 
by the end of March. 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 8, 2010.

Brian F. Madigan,
Secretary, Federal Open Market Committee.
[FR Doc. 2010-8593 Filed 4-14-10; 8:45 am]
BILLING CODE 6210-01-S