Board Actions

Actions taken during the week ending December 15, 2007

Advisory Councils

Thrift Institutions Advisory Council -- appointment of seven new members and designation of F. Weller Meyer as president and Kerry Killinger as vice president for 2008.
-Announced, December 13, 2007

Board Operations

Board -- budget for 2008-2009.
-Approved, December 12, 2007

Office of Inspector General -- budget for 2008-2009.
-Approved, December 14, 2007

Discount Rates

Discount and Advance Rates -- decrease in the primary credit rate from 5 percent to 4-3/4 percent by the Federal Reserve Banks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, and St. Louis.
-Approved, December 11, 2007

Discount and Advance Rates -- decrease in the primary credit rate from 5 percent to 4-3/4 percent by the Federal Reserve Banks of Boston, Minneapolis, Dallas, and San Francisco.
-Approved, December 12, 2007

Discount and Advance Rates -- decrease in the primary credit rate from 5 percent to 4-3/4 percent by the Federal Reserve Bank of Kansas City.
-Approved, December 13, 2007

Regulations And Policies

Regulation A (Extensions of Credit by Federal Reserve Banks) -- amendments to establish a temporary credit facility (Term Auction Facility or TAF) for depository institutions to obtain advances from Reserve Banks that are secured by a wide variety of collateral and at interest rates that are determined by auctions.
-Approved, December 12, 2007

Testimony And Statements

Consumer Complaints -- statement by Sandra F. Braunstein, Director, Division of Consumer and Community Affairs, on the Financial Consumer Hotline Act of 2007 before the Subcommittee on Financial Institutions and Consumer Credit, House Committee on Financial Services.
-Published, December 12, 2007