October 08, 2008

Approval of the discount rate action of the Federal Reserve Banks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Kansas City, Dallas, San Francisco, and St. Louis

For immediate release

The Federal Reserve Board on Wednesday approved actions by the Boards of Directors of the Federal Reserve Banks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco, decreasing the discount rate at the Banks from 2-1/4 percent to 1-3/4 percent, effective immediately.

The Board also approved an action by the Board of Directors of the Federal Reserve Bank of St. Louis, decreasing the discount rate at the Bank from 2-1/4 percent to 1-3/4 percent, effective October 9, 2008.

Last Update: October 08, 2008