Board Actions

Actions taken during the week ending December 19, 2015

Board Operations

Office of Inspector General -- 2016 operating and capital budget.
-Approved, December 16, 2015

Currency

Federal Reserve Notes -- new currency budget for 2016.
-Approved, December 16, 2015

Monetary Policy Implementation

Federal Open Market Committee -- increase in the target range for the federal funds rate to 1/4 percent to 1/2 percent, effective December 17, 2015.
-Announced, December 16, 2015

Interest on Reserves; Discount and Advance Rates -- increase in the (1) interest rate paid on required and excess reserve balances from 1/4 percent to 1/2 percent and (2) primary credit rate from 3/4 percent to 1 percent, both effective December 17, 2015.
-Approved, December 16, 2015

Regulations and Policies

Regulatory Burden Reduction -- publication for comment of the fourth in a series of interagency notices on potential areas for regulatory burden relief for insured depository institutions, as required by the Economic Growth and Regulatory Paperwork Reduction Act.
-Approved, December 10, 2015
(A/C)

Reserve Bank Operations

Federal Reserve Bank Budgets -- operating and capital budgets for the Federal Reserve Banks, Federal Reserve Information Technology, and Office of Employee Benefits for 2016.
-Approved, December 16, 2015

Enforcement

Habib Bank Limited, Karachi, Pakistan, and Habib Bank Limited New York Branch, New York, New York -- issuance of a consent cease and desist order.
-Announced, December 17, 2015

Mid State Banks, Inc., Hawkinsville, Georgia -- written agreement issued June 2, 2010, terminated December 9, 2015.
-Announced, December 15, 2015