Summaries of local news stories from the pages of the Intelligencer Journal and Lancaster New Era appear in this space each Monday. They are researched and compiled by staff member Tim Buckwalter. Full versions are available on microfilm at Lancaster Public Library, 125 N. Duke St. RATE CUTS: Area lenders were slashing home mortgage rates and cutting loan rates for businesses and farmers in the wake of the Federal Reserve Board's decision to lower the discount rate it charged to banks.
It was Feb 17, 2010, and the euro had been sliding against the dollar for two months. A week earlier, the euro had dropped through critical support as the Fed raised the discount rate it charges for emergency loans from 0.5% to 0.75%. Federal Reserve Board Chairman Ben Bernanke was about to address Congress, and many in the media were speculating that US rates were about to begin creeping up across the board. Bernanke, however, assured lawmakers that the rate adjustment wasn't the beginning of an upward march in rates. The US economy, he concluded, wasn't ready to be weaned off low rates just yet. The IMF has projected Japan's gross debt for 2010 at 227% of its annual GDP, reflecting continuation of a trend that's kept the country in a deflationary period for years. Meanwhile, back in E...
... and energize credit market activity, the Federal Reserve undertook a standard expansionary monetary..., the Federal Open Market Committee and the Board of Governors provided additional support to the re... known as the primary credit rate, the discount rate is set above the usual level of short-run mar...
...Despite a number of "green shoots," as Federal Reserve Chairman Ben Bernanke liked to put it, (2)... response in August was to reduce the discount rate--the interest rate the Fed charges on loans t... Federal Reserve Act, (84) which permits the Board to utilize its 13(3) powers in situations where th...
....(a) Each Federal Agency shall discount to present values the future cash flows establishe... consistent with the nominal or real discount rate, and related tables, published in the annual suppl..., as most recently reported by the Federal Reserve Board; and. (2) Subject to a ceiling of 10 percent...
... about the serious implications of rising rates of mortgage delinquency and foreclosure for troubl... when the Federal Reserve Board cut the discount rate -- the rate at which it lends directly to ban...
CLEVELAND -- The Federal Reserve Bank of Cleveland announced the following appointm... regarding the Federal Reserve's discount rate on primary credit; providing information abou...
...-trend growth was accompanied by rising rates of resource utilization, particularly after the ex... 17, the Federal Reserve Board cut the discount rate -- the rate at which it lends directly to ban...
... (e.g., "do not track" initiatives, federal breach notification, cybersecurity). And it looks ...On May 23, 2011, the Federal Reserve Board published in the Federal Register a proposed... as promotional programs that apply a reduced rate for a specified period. For example, a card issuer...'s view on Quicken's loan origination and discount fees, which mortgage borrowers contend violate RES...
Lumber Liquidators reports flat sales Lumber Liquidators Holdings Inc.'s share price dropped 12.5 percent Thursday after the specialty retailer of hardwood floors based in Toano reported flat sales in stores open at least a year in 2009.
...- Chris Dinsmore, The Pilot. Fed raises its rate for loans to banks. The Federal Reserve Board raissed the discount rate charged to banks for direct loans to 0.75 per...
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