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CIRCULAR N O . 219 FEDERAL RESERVE BANK OF N E W YORK LOAN D E P A R T M E N T November 3, 1919 RATES OF DISCOUNT To ALL MEMBER BANKS IN THE SECOND FEDERAL RESERVE DISTRICT, DEAR SIRS: You are advised that this bank has established the following rates of discount effective immediately and until further notice and superseding all existing rates: ADVANCES For advances not exceeding 15 days to member banks on their promissory notes secured by (a) United States certificates of indebtedness, Liberty bonds, Victory notes and customers' notes secured by any of the foregoing — ±XA% (b) United States certificates of indebtedness bearing 4J£% interest *%% (c) Eligible commercial paper... ~-4%% REDISCOUNTS For notes, drafts and bills of exchange having a maturity at time of rediscount of not more than 90 days..... 1%% (including rediscounts, for periods not exceeding 15 days, of eligible paper having a maturity at time of rediscount of more than 15 days) For notes, drafts and bills of exchange having a maturity of not in excess of 90 days secured by Liberty bonds or Victory notes 4*^% For trade acceptances and bankers acceptances having a maturity at time of rediscount of not more than 90 days tyfflo For agricultural paper having a maturity at time of rediscount of more than 90 days but not more than 6 months. 5% Yours very truly, BENJ. STRONG, Governor.
@FedFRASER