Approval of the discount rate action of the Federal Reserve Banks of Boston, Cleveland, Richmond, Chicago, Minneapolis, Kansas City, and San Francisco

The following press release was published by the Board of Governors of the Federal Reserve System on March 17, 2008. It is reproduced in full below.

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

Source: Board of Governors of the Federal Reserve System