Board Actions

Mitsubishi UFJ Financial Group, Inc., Tokyo, Japan  -- to acquire shares of Morgan Stanley, New York, New York, and to acquire an indirect interest in Morgan Stanley's subsidiary bank, Morgan Stanley Bank, National Association, Salt Lake City, Utah; subsidiary savings association, Morgan Stanley Trust, Jersey City, New Jersey; and subsidiary trust company, Morgan Stanley Trust National Association, Wilmington, Delaware. Statement issued, October 7, 2008.
-Approved, October 6, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 2-1/4 percent to 1-3/4 percent by the Federal Reserve Bank of Boston.
-Announced, October 8, 2008 

Discount and Advance Rates  -- decrease in the primary credit rate from 2-1/4 percent to 1-3/4 percent by the Federal Reserve Banks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
-Approved, October 8, 2008 

Forms  -- final Board review to extend with revision the Report of Terms of Credit Card Plans (FR 2572) and the Survey of Terms of Lending (FR 2028A, 2028B, and 2028S) and to revise without extension the Reports of Deposits (FR 2900 and 2910a).
-Approved, October 6, 2008 

Commercial Paper Funding Facility  -- establishment of the Commercial Paper Funding Facility (CPFF) to complement existing credit facilities and to help provide liquidity to term funding markets.
-Announced, October 7, 2008 

Federal Reserve Bank of New York  -- authorization for the Federal Reserve Bank of New York to borrow investment-grade, fixed-income securities in return for cash collateral up to $37.8 billion from certain regulated U.S. insurance subsidiaries of the American International Group.
-Announced, October 8, 2008 

Term Auction Facility  -- TAF auctions in the amount of $150 billion each in 28-day credit on October 20, November 17, and December 15, and in the amount of $150 billion each in three-month credit on October 6, November 3, December 1, and December 29, 2008.
-Announced, October 7, 2008 

Regulation D  -- interim rule with request for comment to authorize Federal Reserve Banks to pay interest on required reserve balances and excess balances maintained by depository institutions.
-Announced, October 6, 2008