Federal Register / Vol. 77, No. 170 / Friday, August 31, 2012 / Notices 53201 

1Copies of the Minutes of the Federal Open 

Market Committee at its meeting held on July 31– 

August 1, 2012, which includes the domestic policy 

directive issued at the meeting, are available on the 

Board’s Web site, www.federalreserve.gov. The 

minutes are also published in the Federal Reserve 

Bulletin and in the Board’s Annual Report. 

comment on the following issues. First, 

should California’s ZEV amendments, as 

they affect the 2012–2017 MYs and/or 

the 2018 and later MYs, be considered 

under the within-the-scope criteria or 

should they be considered under the 

full waiver criteria? Second, to the 

extent part or all of those ZEV 

amendments should be considered as a 

within-the-scope request, do such 

amendments meet the criteria for EPA to 

confirm that they are within-the-scope 

of prior waivers? Please also provide 

comments to address the full waiver 

analysis (noted below for the remainder 

of the ACC program), in the event that 

EPA cannot confirm that some or all of 

CARB’s ZEV amendments are withinthe-scope of previous waivers. 

We are requesting comment on all 

aspects of the full waiver analysis with 

regard to the ACC program (the LEV III 

criteria pollutant and GHG regulations, 

and the ZEV amendments to the extent 

EPA does not consider them under the 

within-the-scope analysis noted above). 

This includes consideration of the 

following three criteria: whether (a) 

California’s determination that its motor 

vehicle emission standards are, in the 

aggregate, at least as protective of public 

health and welfare as applicable Federal 

standards is arbitrary and capricious, (b) 

California needs such standards to meet 

compelling and extraordinary 

conditions, and (c) California’s 

standards and accompanying 

enforcement procedures are consistent 

with section 202(a) of the Clean Air Act. 

As noted above, CARB plans to propose 

a deemed to comply rule for its GHG 

standards shortly after EPA finalizes its 

light-duty vehicle greenhouse gas 

emission standards, conditioned on its 

review of EPA’s final GHG rule. As 

such, EPA specifically invites comment 

on CARB’s waiver request in light of 

CARB’s plans concerning adoption of a 

deemed to comply provision into its 

LEV III GHG standards. This will allow 

EPA to consider any deemed to comply 

provision and comments on it when 

taking action on CARB’s request for a 

waiver. 

IV. Procedures for Public Participation 

The Agency will make a verbatim 

record of the proceedings at the hearing. 

Interested parties may arrange with the 

reporter at the hearing to obtain a copy 

of the transcript at their own expense. 

EPA will keep the record open until 

October 19, 2012. Upon expiration of 

the comment period, the Administrator 

will render a decision on CARB’s 

request based on the record of the 

public hearing, relevant written 

submissions, and other information that 

she deems pertinent. 

Persons with comments containing 

proprietary information must 

distinguish such information from other 

comments to the greatest possible extent 

and label it as ‘‘Confidential Business 

Information’’ (CBI). If a person making 

comments wants EPA to base its 

decision in part on a submission labeled 

CBI, then a non-confidential version of 

the document that summarizes the key 

data or information should be submitted 

for the public docket. To ensure that 

proprietary information is not 

inadvertently placed in the docket, 

submissions containing such 

information should be sent directly to 

the contact person listed above and not 

to the public docket. Information 

covered by a claim of confidentiality 

will be disclosed by EPA only to the 

extent allowed and by the procedures 

set forth in 40 CFR part 2. If no claim 

of confidentiality accompanies the 

submission when EPA receives it, EPA 

will make it available to the public 

without further notice to the person 

making comments. 

Dated: August 28, 2012. 

Gina McCarthy, 

Assistant Administrator, Office of Air and 

Radiation. 

[FR Doc. 2012–21566 Filed 8–30–12; 8:45 am] 

BILLING CODE 6560–50–P 

EXPORT-IMPORT BANK 

Economic Impact Policy 

This notice is to inform the public 

that the Export-Import Bank of the 

United States has received an 

application for a $21 million guarantee 

to support the $19 million export of a 

wire rod mill to the Czech Republic. 

The U.S. export will replace an existing 

facility and enable the Czech company 

to expand its production of wire rod by 

approximately 50,000 metric tons 

annually during the 8.5-year repayment 

term of the obligation. Available 

information indicates that the additional 

wire rod production will be sold 

domestically in the Czech Republic and 

Slovakia, Germany, and Italy. 

Interested parties may submit 

comments on this transaction by email 

to economic.impact@exim.gov or by 

mail to 811 Vermont Avenue NW., 

Room 947, Washington, DC 20571, 

within 14 days of the date this notice 

appears in the Federal Register. 

Kathryn Hoff-Patrinos, 

Deputy General Counsel. 

[FR Doc. 2012–21548 Filed 8–30–12; 8:45 am] 

BILLING CODE 6690–01–P 

FEDERAL RESERVE SYSTEM 

Federal Open Market Committee; 

Domestic Policy Directive of July 31– 

August 1, 2012 

In accordance with Section 271.7(d) 

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 July 31–August 1, 2012.1

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 

continue the maturity extension 

program it announced in June to 

purchase Treasury securities with 

remaining maturities of 6 years to 30 

years with a total face value of about 

$267 billion by the end of December 

2012, and to sell or redeem Treasury 

securities with remaining maturities of 

approximately 3 years or less with a 

total face value of about $267 billion. 

For the duration of this program, the 

Committee directs the Desk to suspend 

its current policy of rolling over 

maturing Treasury securities into new 

issues. The Committee directs the Desk 

to maintain its existing policy of 

reinvesting principal payments on all 

agency debt and agency mortgagebacked securities in the System Open 

Market Account in agency mortgagebacked securities. These actions should 

maintain the total face value of domestic 

securities at approximately $2.6 trillion. 

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. 


EMCDONALD on DSK67QTVN1PROD with NOTICES