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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Discount Rate Reduced by 50 Basis Points
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The Federal Open Market Committee (FOMC) yesterday lowered its target for the federal funds rate by 50 basis points, to 2 percent. In addition, the Board of Governors of the Federal Reserve System approved a 50 basis point reduction in the discount rate, to 1 ½ percent.
The press releases on the federal funds and discount rate changes are attached.
