Board Actions

Discount and Advance Rates  -- decrease in the primary credit rate from 3-1/2 percent to 3-1/4 percent by the Federal Reserve Banks of Boston, Cleveland, Richmond, Chicago, Minneapolis, Kansas City, and San Francisco.
-Approved, March 17, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 3-1/4 percent to 2-1/2 percent by the Federal Reserve Banks of Boston, New York, Cleveland, Chicago, Kansas City, and San Francisco and from 3-1/2 percent to 2-1/2 percent by the Federal Reserve Banks of Dallas and St. Louis.
-Approved, March 18, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 3-1/4 percent to 2-1/2 percent by the Federal Reserve Banks of Richmond and Minneapolis and from 3-1/2 percent to 2-1/2 percent by the Federal Reserve Bank of Atlanta.
-Approved, March 19, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 3-1/2 percent to 2-1/2 percent by the Federal Reserve Bank of Philadelphia.
-Approved, March 20, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 3-1/2 percent to 3-1/4 percent by the Federal Reserve Bank of New York.
-Approved, March 16, 2008 

CAB Holding, LLC, Wilmington, Delaware  -- cease and desist order dated May 6, 2004, terminated March 13, 2008.
-Announced, March 19, 2008 

Financial Markets  -- financing arrangement announced by JPMorgan Chase & Co., New York, New York, and The Bear Stearns Companies, Inc.
-Approved, March 16, 2008 

Financial Markets  -- arrangement announced by JPMorgan Chase & Co., New York, New York, and The Bear Stearns Companies, Inc.
-Approved, March 14, 2008  (AC)

Flood Insurance  -- publication for comment of revised interagency questions and answers to help financial institutions meet their responsibilities under federal flood insurance legislation and to increase public understanding of flood insurance requirements.
-Approved, March 3, 2008  (AC)

Primary Dealer Credit Facility  -- authorization for the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization markets.
-Approved, March 16, 2008