| For immediate release |
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The Federal Reserve Board on Wednesday approved action by the Board of Directors of the Federal Reserve Bank of Minneapolis, decreasing the discount rate at the bank from 3-1/4 percent to 3 percent, effective immediately. The Federal Reserve Board on Wednesday also approved action by the Board of Directors of the Federal Reserve Bank of St. Louis, decreasing the discount rate at that bank from 3-1/4 percent to 3 percent, effective Thursday August 23, 2001. |