Federal Reserve Board: H.2 Release for Week Ending December 19, 2015

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending December 19, 2015, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
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


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

[Author’s Note: The fact that the Board approves the budget of its Inspector General eliminates its investigatory independence and effectiveness auditing any Board operations.]