FEDERAL OPEN MARKET COMMITTEE Definition

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FEDERAL OPEN MARKET COMMITTEE (FOMC) is a 12-member committee consisting of the seven members of the Federal Reserve Bank and five of the 12 Federal Reserve Bank presidents. The president of the Federal Reserve Bank of New York is a permanent member while the other Federal Reserve presidents serve on a rotating basis. The committee sets objectives for the growth of money and credit that are implemented through purchases and sales of U.S. Government securi­ties in the open market. The FOMC also establishes policy relating to Federal Reserve System operations in the foreign exchange markets.

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ROI (Return on Investment) can be calculated in various ways. The most common method is Net Income as a percentage of Net Book Value (total assets minus intangible assets and liabilities).

DOCUMENT MAINTENANCE is a formalized system of ensuring that all controlled documents are to the latest configuration or version.

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