RICHMOND, Va., Nov. 9 /PRNewswire/ -- The tragic events of Tuesday, Sept.
11, sent the Federal Reserve System into high gear, with the Fed taking
decisive actions to keep the nation's financial system functioning smoothly. A
Special Report in the recently released Region Focus discusses the Fed's
lowering of the target federal funds rate and the discount rate on loans to
depository institutions, its large-scale check processing, and the copious
economic analysis by the research departments of the 12 Reserve Banks.
These efforts, combined with those of bankers and other participants in
the financial system, helped keep the U.S. banking system operating without
serious disruption. "Their commitment and the performance of the U.S. banking
and payments systems during such extraordinary events bolstered my confidence
in our ability to face any challenge, whether anticipated or not," Al
Broaddus, president of the Federal Reserve Bank of Richmond, writes in
Noteworthy.
The Fall 2001 cover story investigates electricity restructuring in the
Fifth District and the region's efforts to avoid the blackouts and soaring
energy costs that have plagued California. Also included are reports on
renewable energy sources and nuclear power.
Region Focus, a quarterly business magazine published by the Federal
Reserve Bank of Richmond, covers the economy and business activities of the
District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and
most of West Virginia.
For copies free of charge, contact the Bank's Public Affairs Department at
804-697-8111. The article abstracts are available at
http://www.rich.frb.org/pubs/regionfocus .
SOURCE Federal Reserve Bank of Richmond
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Related links:
http://www.rich.frb.org
http://www.rich.frb.org/pubs/regionfocus
CONTACT:
Laura Fortunato, Executive Editor, Region
Focus, of Federal Reserve Bank of Richmond, +1-804-697-8196
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