; (B) the nominal rate of interest paid on nonborrowed reserves; or (C) the discount window primary credit interest rate most recently published on the Federal Reserve Statistical Release on selected interest rates (daily or weekly), commonly referred to as the H.15 release. (8) Policy Instrument Target The term Policy Instrument Target means the target for the Policy Instrument specified in the Open Market Operations Directive. (9) Reference Policy Rule The term Reference Policy Rule means a calculation of the nominal Federal funds rate as equal to the sum of the following: (A) The rate of inflation over the previous four quarters. (B) One-half of the percentage deviation of the real GDP from an estimate of potential GDP. (C) One-half of the difference between the rate of inflation over the previous four quarters and two percent. (D) Two percent. (b) Submitting a Directive Policy Rule Not later than 48 hours after the end of a meeting of the Federal Open Market Committee, the Chairman of the Federal Open Market Committee shall submit to the appropriate congressional committees and the Comptroller General of the United States a Directive Policy Rule and a statement that identifies the members of the Federal Open Market Committee who voted in favor of the Directive Policy Rule. (c) Requirements for a Directive Policy Rule A Directive Policy Rule shall— (1) identify the Policy Instrument the Directive Policy Rule is designed to target; (2) describe the strategy or rule of the Federal Open Market Committee for the systematic quantitative adjustment of the Policy Instrument Target to respond to a change in the Intermediate Policy Inputs; (3) include a function that comprehensively models the interactive relationship between the Intermediate Policy Inputs; (4) include the coefficients of the Directive Policy Rule that generate the current Policy Instrument Target and a range of predicted future values for the Policy Instrument Target if changes occur in any Intermediate Policy Input