[Federal Register Volume 76, Number 140 (Thursday, July 21, 2011)]
[Notices]
[Page 43687]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-18430]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of June 
21-22, 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 June 21-22, 2011.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
at its meeting held on June 21-22, 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 complete purchases of $600 billion of longer-term Treasury 
securities by the end of this month. The Committee also directs the 
Desk to maintain its existing policy of reinvesting principal payments 
on all domestic securities in the System Open Market Account in 
Treasury securities in order to maintain the total face value of 
domestic securities at approximately $2.6 trillion. 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, July 13, 2011.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2011-18430 Filed 7-20-11; 8:45 am]
BILLING CODE 6210-01-P