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2008

 
 
Date Title Category
December 29, 2008 Fed Governors Appoint Richmond Chairman and Deputy Chairman

The Board of Governors of the Federal Reserve System appointed the following Chairman and Deputy Chairman of the Board of Directors for the Federal Reserve Bank of Richmond, effective Jan. 1, 2009:

  • Lemuel E. Lewis — President, LocalWeather.com Suffolk, Va. — was appointed chairman of the board of directors for 2009. Mr. Lewis has served as a Class C director since 2005.
  • Margaret E. McDermid — Senior Vice President and Chief Information Officer, Dominion Resources Inc., Richmond, Va. — was appointed deputy chairman for 2009.  Ms. McDermid has served as a Class C director since 2007.
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December 16, 2008 FOMC Statement

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.

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December 8, 2008 Fifth Federal Reserve District Branch Directors Appointed

The Federal Reserve Board of Governors and the Federal Reserve Bank of Richmond Board of Directors appointed the following for three-year terms as directors for the Baltimore and Charlotte branches, effective Jan.1, 2009:

Baltimore Board of Directors

  • Biana Arentz — President and CEO, Hemingway’s Inc., Stevensville, Md., was reappointed by the Richmond Board of Directors.
  • Jenny G. Morgan — Principal, Sterling Partners, Baltimore, Md., was appointed by the Board of Governors.

Charlotte Board of Directors

  • Linda L. Dolny — President, PML Associates, Inc., Greenwood, S.C., was reappointed by the Board of Governors.
  • James H. Speed, Jr. — President and CEO, North Carolina Mutual Life Insurance Company, Durham, N.C., was reappointed by the Richmond Board of Directors.
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December 8, 2008 Fifth Federal Reserve District Branch Directors Appointed

The Federal Reserve Board of Governors and the Federal Reserve Bank of Richmond Board of Directors appointed the following for three-year terms as directors for the Baltimore and Charlotte branches, effective Jan.1, 2009:

Baltimore Board of Directors

  • Biana Arentz — President and CEO, Hemingway’s Inc., Stevensville, Md., was reappointed by the Richmond Board of Directors.
  • Jenny G. Morgan — Principal, Sterling Partners, Baltimore, Md., was appointed by the Board of Governors.

Charlotte Board of Directors

  • Linda L. Dolny — President, PML Associates, Inc., Greenwood, S.C., was reappointed by the Board of Governors.
  • James H. Speed, Jr. — President and CEO, North Carolina Mutual Life Insurance Company, Durham, N.C., was reappointed by the Richmond Board of Directors.
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December 8, 2008 Fifth Federal Reserve Directors Elect Chairpersons

The Boards of Directors for the Federal Reserve Bank of Richmond’s Baltimore and Charlotte branches elected the following chairpersons for one-year terms effective Jan. 1, 2009.

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December 3, 2008 Beige Book Report

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

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November 24, 2008 Joint statement by Treasury, Federal Reserve, and the FDIC on Citigroup

The U.S. government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, liquidity access, and capital.

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November 10, 2008 Federal Reserve will offer $150 billion in 17-day credit through its Term Auction Facility today

On November 10, 2008, the Federal Reserve will offer $150 billion in 17-day credit through its Term Auction Facility. This is a forward auction designed to provide term funding over year-end—awarded loans will settle on December 22, 2008.

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November 10, 2008 Federal Reserve Board and Treasury Department announce restructuring of financial support to AIG

The Federal Reserve Board and the U.S. Treasury on Monday announced the restructuring of the government's financial support to the American International Group (AIG) in order to keep the company strong and facilitate its ability to complete its restructuring process successfully.

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October 29, 2008 FOMC Statement

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.

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October 21, 2008 Fed Actions

Federal Reserve announces the creation of the Money Market Investor Funding Facility (MMIFF)

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October 21, 2008 Federal Reserve Actions

Federal Reserve announces results of auction of $150 billion in 28-day credit held on October 20, 2008

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October 15, 2008 Richmond Fed Directors Appoint Fed Advisory Council Member

The Board of Directors of the Federal Reserve Bank of Richmond has appointed the Fifth District representative to the Federal Advisory Council.

Kenneth D. Lewis — Chairman, Chief Executive Officer and President, Bank of America Corp., Charlotte, N.C., was re-appointed to a second term as the Fifth District’s representative on the Federal Advisory Council.

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October 15, 2008 Beige Book Report

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

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October 8, 2008 Federal Reserve Actions

Federal Reserve and other central banks announce reductions in policy interest rates

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October 7, 2008 Federal Reserve Actions

Board announces creation of the Commercial Paper Funding Facility (CPFF) to help provide liquidity to term funding markets

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October 6, 2008 Federal Reserve Actions

Board announces that it will begin to pay interest on depository institutions required and excess reserve balances

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September 15, 2008 Richmond Fed Names New Council Members

The Federal Reserve Bank of Richmond appointed the following three members to its Small Business and Agriculture Advisory Council.

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