| Home > Banking > Supervision and Regulation |
 |
|
| Circular |
|
|
Target for Federal Funds Rate Lowered by 50 Basis Points
|
|
|
November 7, 2001
|
|
| Circular No. 11395 | |
|
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.
Contact: |
