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

The following press release was published by the Board of Governors of the Federal Reserve System on March 19, 2008. It is reproduced in full below.

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

The Board also approved an action by the Board of Directors of the Federal Reserve Bank of Atlanta, decreasing the discount rate at the Bank from 3-1/2 percent to 2-1/2 percent, effective immediately.

Source: Board of Governors of the Federal Reserve System