Federal Register / Vol. 62, No. 203 / Tuesday, October 21, 1997 / Notices 54637

1 Copies of the Minutes of the Federal Open

Market Committee meeting of August 19, 1997,

which include the domestic policy directive issued

at that 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.

Each notice is available for inspection

at the Federal Reserve Bank indicated.

The notice also will be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether the proposal complies

with the standards of section 4 of the

BHC Act.

Unless otherwise noted, comments

regarding the applications must be

received at the Reserve Bank indicated

or the offices of the Board of Governors

not later than November 4, 1997.

A. Federal Reserve Bank of New

York (Betsy Buttrill White, Senior Vice

President) 33 Liberty Street, New York,

New York 10045-0001:

1. The Toronto-Dominion Bank,

Toronto, Canada, and Waterhouse

Investors Services, Inc., New York, New

York; to acquire Kennedy Cabot & Co.,

Beverly Hills, California, and thereby

engage in investment advisory activities

and securities brokerage and riskless

principal activities, pursuant to §§

225.28 (b)(6) and (7) of the Board’s

Regulation Y.

B. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63102-

2034:

1. Louisville Development Bancorp,

Inc., Louisville, Kentucky; to acquire

Louisville Enterprise Center, Inc.,

Louisville, Kentucky, and thereby

engage in community development

activities, pursuant to § 225.28(b)(12) of

the Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, October 15, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–27751 Filed 10–20–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Federal Open Market Committee;

Domestic Policy Directive of August

19, 1997.

In accordance with § 271.5 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 19, 1997.1

The directive was issued to the Federal

Reserve Bank of New York as follows:

The information reviewed at this

meeting suggests that economic activity

is expanding at a moderate pace. In

labor markets, hiring remained robust at

midyear, and the civilian

unemployment rate, at 4.8 percent in

July, matched its low for the current

economic expansion. Industrial

production increased relatively slowly

in July, owing in part to a temporary

drop in motor vehicle assemblies. Retail

sales rose briskly in June and July after

having changed little over the preceding

three months. Housing starts rebounded

in June and July after having weakened

in May. Business fixed investment

increased substantially further in the

second quarter and available indicators

point to further sizable gains in the

current quarter. The nominal deficit on

U.S. trade in goods and services

narrowed slightly on balance over April

and May from its downward-revised

average rate in the first quarter. Price

inflation has remained subdued and

increases in labor compensation have

been moderate.

Market interest rates generally have

declined somewhat further since the

start of the Committee meeting on July

1-2, 1997. Share prices in equity

markets have increased on balance. In

foreign exchange markets, the tradeweighted value of the dollar in terms of

the other G-10 currencies rose

significantly on balance over the

intermeeting period.

After fluctuating sharply from April to

May, growth of M2 was at a moderate

pace over June and July and that of M3

picked up to a relatively rapid rate. For

the year through July, M2 expanded at

a rate near the upper bound of its range

for the year and M3 at a rate appreciably

above the upper bound of its range.

Total domestic nonfinancial debt has

continued to expand in recent months at

a rate near the middle of its range.

The Federal Open Market Committee

seeks monetary and financial conditions

that will foster price stability and

promote sustainable growth in output.

In furtherance of these objectives, the

Committee at its meeting in July

reaffirmed the ranges it had established

in February for growth of M2 and M3 of

1 to 5 percent and 2 to 6 percent

respectively, measured from the fourth

quarter of 1996 to the fourth quarter of

1997. The range for growth of total

domestic nonfinancial debt was

maintained at 3 to 7 percent for the year.

For 1988, the Committee agreed on a

tentative basis to set the same ranges as

in 1997 for growth of the monetary

aggregates and debt, measured from the

fourth quarter of 1997 to the fourth

quarter of 1998. The behavior of the

monetary aggregates will continue to be

evaluated in the light of progress toward

price level stability, movements in their

velocities, and developments in the

economy and financial markets.

In the implementation of policy for

the immediate future, the Committee

seeks conditions in reserve markets

consistent with maintaining the federal

funds rate at an average of around 5-1/

2 percent. In the context of the

Committee’s long-run objectives for

price stability and sustainable economic

growth, and giving careful consideration

to economic, financial, and monetary

developments, a somewhat higher

federal funds rate would or a slightly

lower federal funds rate might be

acceptable in the intermeeting period.

The contemplated reserve conditions

are expected to be consistent with

moderate growth in M2 and M3 over

coming months.

By order of the Federal Open Market

Committee, October 8, 1997.

Donald L. Kohn,

Secretary, Federal Open Market Committee.

[FR Doc. 97–27775 Filed 10-20-97; 8:45 am]

BILLING CODE 6210-01-P

GENERAL ACCOUNTING OFFICE

Federal Accounting Standards

Advisory Board Meeting

AGENCY: General Accounting Office.

ACTION: Notice of October meeting.

SUMMARY: Pursuant to section 10(a)(2) of

the Federal Advisory Committee Act

(Pub. L. No. 92–463), as amended,

notice is hereby given that the Federal

Accounting Standards Advisory Board

will meet on Friday, October 24, 1997,

from 9:00 a.m. to 4:00 p.m. in Room

7C13 of the General Accounting Office

building, 441 G St., N.W., Washington,

D.C.

The purpose of the meeting is to

discuss the following issues: (1) Natural

Resources; (2) Pension Costs; (3) a

request for guidance on the Property,

Plant, and Equipment (PP&E) Standard;

(4) Government-Wide Supplementary

Stewardship Reporting Exposure Draft

comments; (5) PP&E Technical

Corrections and Amendments; and (6)

Social Insurance. Any interested person

may attend the meeting as an observer.

Board discussions and reviews are open

to the public.

FOR FURTHER INFORMATION CONTACT:

Wendy Comes, Executive Director, 441

G St., N.W., Room 3B18, Washington,

D.C. 20548, or call (202) 512–7350.

Authority: Federal Advisory Committee

Act. Pub. L. No. 92–463, Section 10(a)(2), 86
54638 Federal Register / Vol. 62, No. 203 / Tuesday, October 21, 1997 / Notices

Stat. 770, 774 (1972) (current version at 5

U.S.C. app. section 10(a)(2) (1988); 41 CFR

101–6.1015 (1990).

Dated: October 15, 1997.

Wendy M. Comes,

Executive Director.

[FR Doc. 97–27747 Filed 10–20–97; 8:45 am]

BILLING CODE 1610–01–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

National Committee on Vital and Health

Statistics; Meeting

Purusant to the Federal Advisory

Committee Act, the Department of

Health and Human Services announces

the following advisory committee

meeting.

Name: National Committee on Vital

and Health Statistics (NCVHS).

Times and Dates: 9:00 a.m.–5:30 p.m.,

November 5, 1997; 9:00 a.m.–4:15 p.m.,

November 6, 1997.

Place: Conference Room 303A–339A,

Hubert H. Humphrey Building, 200

Independence Avenue S.W.,

Washington D.C. 20201.

Status: Open.

Purpose: The meeting will focus on a

variety of data policy and privacy

issues. The Committee will review its

progress and consider next steps in

addressing new responsibilities in

health data standards and health

information privacy as outlined in the

administrative simplification provisions

of P.L. 104–191, the Health Insurance

Portability and Accountability Act of

1996 (HIPAA), as well as on related

matters. Department officials will brief

the Committee on recent activities of the

HHS Data Council, the status of HHS

activities in implementing the

administrative simplification provisions

of P.L. 104–191, and related date policy

activities.

The Committee also will hear a

briefing on data needs and issues by the

Director of the National Center for

Health Statistics. Presentations also are

schedued relating to the President’s

Commission on Quality and Consumer

Protection, the National Vital Statistics

Program and Standard Certificates, and

confidentiality and anti-discrimination

issues in genetic testing. Breakout

sessions are planned for the

Subcommittee on Health Data Needs,

Standards and Security, the

Subcommittee on Privacy and

Confidentiality, and the Subcommittee

on Population-Specific Issues. In

addition, the Committee will discuss its

recent recommendations relating to the

unique health identifier for individuals,

and will discuss priorities and work

plans. All topics are tentative and

subject to change. Please check the

NCVHS website for a detailed agenda.

Contact Person for More Information:

Substantive information as well as

summaries of the meeting and a roster

of committee members may be obtained

by visiting the NCVHS website (http://

aspe.os.dhhs.gov/ncvhs) or by calling

James Scanlon, NCVHS Executive Staff

Director, Office of the Assistant

Secretary for Planning and Evaluation,

DHHS, Room 440–D Humphrey

Building, 200 Independence Avenue

S.W., Washington, D.C. 20201,

telephone (202) 690–7100, or Marjorie

S. Greenberg, Executive Secretary,

NCVHS, NCHS, CDC, Room 1100,

Presidential Building, 6525 Belcrest

Road, Hyattsville, Maryland 20782,

telephone 301/436–7050.

Dated: October 14, 1997.

James Scanlon,

Director, Division of Data Policy.

[FR Doc. 97–27825 Filed 10–20–97; 8:45 am]

BILLING CODE 4151–04–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Agency for Toxic Substances and

Disease Registry

Board of Scientific Counselors,

Agency for Toxic Substances and

Disease Registry; Meeting

In accordance with section 10(a)(2) of

the Federal Advisory Committee Act

(Pub. L. 92–463), the Agency for Toxic

Substances and Disease Registry

(ATSDR) announces the following

committee meeting.

Name: Board of Scientific Counselors,

Agency for Toxic Substances and

Disease Registry (BSC, ATSDR).

Times and Dates: 9 a.m.–5 p.m.,

November 19, 1997, and 8:30 a.m.–4

p.m., November 20, 1997.

Place: ATSDR, 35 Executive Park

Drive, Training Room, Atlanta, Georgia

30329.

Status: Open to the public, limited by

the space available. The meeting room

accommodates approximately 60

people.

Purpose: The Board of Scientific

Counselors, ATSDR, advises the

Secretary; the Assistant Secretary for

Health; and the Administrator, ATSDR,

on ATSDR programs to ensure scientific

quality, timeliness, utility, and

dissemination of results. Specifically,

the Board advises on the adequacy of

the science in ATSDR-supported

research, emerging problems that

require scientific investigation, accuracy

and currency of the science in ATSDR

reports, and program areas to emphasize

and/or to de-emphasize.

Matters To Be Discussed: Agenda

items will include introduction of

members and special consultants to the

Community/Tribal Subcommittee,

updates on ATSDR medical monitoring

at Hanford and Bunker Hill, ATSDR’s

methyl parathion experience, the

programs and activities of the ATSDR

Office of Urban Affairs, the Great Lakes

Human Health Effects Research, the

ATSDR Child Health Initiative, and the

National Institute of Environmental

Health Sciences Worker Safety and

Training Program; a discussion on

ATSDR/Native American cooperation;

an overview for determining

contaminant levels in water distribution

systems; and a presentation of ATSDR’s

interim policy on dioxins in soil.

Written comments are welcome and

should be received by the contact

person listed below prior to the opening

of the meeting.

Agenda items are subject to change as

priorities dictate.

CONTACT PERSONS FOR MORE

INFORMATION: Charles Xintaras, Sc.D.,

Executive Secretary, BSC, ATSDR, M/S

E–28, 1600 Clifton Road, NE., Atlanta,

Georgia 30333, telephone 404/639–

0708.

Dated: October 9, 1997.

Carolyn J. Russell,

Director, Management Analysis and Services

Office, Centers for Disease Control and

Prevention (CDC).

[FR Doc. 97–27793 Filed 10–20–97; 8:45 am]

BILLING CODE 4163–70–P

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Centers for Disease Control and

Prevention

Citizens Advisory Committee on Public

Health Service Activities and Research

at Department of Energy (DOE) Sites:

Fernald Health Effects Subcommittee

In accordance with section 10(a)(2) of

the Federal Advisory Committee Act

(Pub. L. 92–463), the Agency for Toxic

Substances and Disease Registry

(ATSDR) and the Centers for Disease

Control and Prevention (CDC) announce

the following meeting.

Name: Citizens Advisory Committee

on Public Health Service Activities and

Research at DOE Sites: Fernald Health

Effects Subcommittee.

Times and Dates: 1 p.m.–9 p.m.,

November 5, 1997, and 8:30 a.m.–5

p.m., November 6, 1997.