Board Actions

Actions taken during the week ending September 22, 2007

Discount Rates

Discount and Advance Rates -- decrease in the primary credit rate from 5-3/4 percent to 5-1/4 percent by the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco.
-Approved, September 18, 2007

Discount and Advance Rates -- decrease in the primary credit rate from 5-3/4 percent to 5-1/4 percent by the Federal Reserve Banks of Richmond, Atlanta, and Dallas.
-Approved, September 19, 2007

Discount and Advance Rates -- decrease in the primary credit rate from 5-3/4 percent to 5-1/4 percent by the Federal Reserve Banks of Philadelphia and Chicago.
-Approved, September 20, 2007

Regulations And Policies

Expanded Examination Cycle -- final interagency rules to allow an expanded examination cycle for qualifying state member banks and U.S. offices of foreign banks (Docket No. R-1279).
-Approved, September 14, 2007 (AC)

Garnishment Orders -- publication for comment of interagency guidance for financial institutions regarding garnishment of exempt federal benefits funds (Docket No. R-1294).
-Approved, September 18, 2007

Testimony And Statements

Subprime Mortgage Lending and Mitigating Foreclosures -- statement by Chairman Bernanke before the House Committee on Financial Services.
-Published, September 20, 2007