[Federal Register Volume 75, Number 236 (Thursday, December 9, 2010)]
[Notices]
[Page 76733]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-30863]



[[Page 76733]]

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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
November 2 and 3, 2010

    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 November 2 and 3, 2010.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on November 2 and 3, 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, DC 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 execute purchases of longer-term Treasury securities by the end 
of June 2011 in order to increase the total face value of domestic 
securities held in the System Open Market Account to approximately $2.6 
trillion. The Committee also directs the Desk to reinvest principal 
payments from agency debt and agency mortgage-backed securities in 
longer-term Treasury 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.

    Dated: November 24, 2010.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2010-30863 Filed 12-8-10; 8:45 am]
BILLING CODE 6210-01-P