[Federal Register Volume 75, Number 178 (Wednesday, September 15, 2010)]
[Notices]
[Page 56110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22930]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
August 10, 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 August 10, 2010.\1\
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    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee at its meeting held on August 10, 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 maintain the total face value of domestic securities held in 
the System Open Market Account at approximately $2 trillion by 
reinvesting principal payments from agency debt and agency mortgage-
backed securities in longer-term Treasury securities. The Committee 
directs the Desk to engage in dollar roll and coupon 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, September 7, 2010.

William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2010-22930 Filed 9-14-10; 8:45 am]
BILLING CODE 6210-01-S