Approval of the discount rate action of the Federal Reserve Banks of Richmond, Minneapolis, and Dallas

The following press release was published by the Board of Governors of the Federal Reserve System on Jan. 31, 2008. It is reproduced in full below.

The Federal Reserve Board on Thursday approved actions by the Boards of Directors of the Federal Reserve Banks of Richmond, Minneapolis, and Dallas, decreasing the discount rate at the Banks from 4 percent to 3-1/2 percent, effective immediately.

Source: Board of Governors of the Federal Reserve System