Kernel release status
The current development kernel is 3.16-rc4, which was released on July 6.
Stable kernel status: On July 3, Greg Kroah-Hartman announced that 3.14 would be the next "longterm stable" kernel; he will be maintaining it until August 2016 or thereabouts.
The 3.15.4,
3.14.11, 3.10.47, and 3.4.97 stable kernels were released on
July 6, followed by
3.15.5, 3.14.12, 3.10.48, and 3.4.98 on
July 9.