[Updated at 3:59 p.m. ET] Strauss-Kahn has been granted bail on several conditions.
He must post a $1 million cash bail, surrender his travel documents and agree to home detention. He must also post a $5 million cash bond.
Strauss-Kahn had previously been held without bail at New York's Rikers Island prison.
[Posted at 3:41 p.m. ET] A grand jury in New York has voted to indict former International Monetary Fund managing director Dominique Strauss-Kahn on seven criminal charges.
The charges are two counts of criminal sexual act in the first degree, sexual abuse in the first degree, sexual abuse in the third degree, unlawful imprisonment in the second degree, attempt to commit rape in the first degree and forcible touching.
Strauss-Kahn was arrested earlier this month and charged in connection with an alleged sexual assault on a 32-year-old housekeeping employee at a luxury suite in a Manhattan hotel.Read CNN's full coverage of the Strauss-Kahn indictment and bail hearing