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The Federal Reserve Board on Tuesday approved actions by the Boards of Directors of the Federal Reserve Banks of New York and San Francisco, decreasing the discount rate at the banks from 2 percent to 1-1/2 percent, effective immediately. The Board also approved action by the Board of Directors of the Federal Reserve Bank of St. Louis, decreasing the discount rate at that bank from 2 percent to 1-1/2 percent, effective Wednesday November 7, 2001. |