[Federal Register Volume 76, Number 75 (Tuesday, April 19, 2011)]
[Notices]
[Page 21894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-9364]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of March 
15, 2011

    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 March 15, 2011.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on March 15, 2011, 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 in order 
to increase the total face value of domestic securities held in the 
System Open Market Account to approximately $2.6 trillion by the end of 
June 2011. 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, April 6, 2011.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2011-9364 Filed 4-18-11; 8:45 am]
BILLING CODE 6210-01-P