Full text of Federal Reserve Bank of New York Circulars : 95. Rates of Discount

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CIRCULAR N O . 95.

(Cltud
FEDERAL RESERVE BANK
OF N E W YORK
N E W Y O R K , Dec.

20,

1917.

RATES OF DISCOUNT
To

THE C A S H I E R ,

SIR:

You are advised that this bank has established the following rates of discount effective
December 21, 1917, and until further notice.
For notes, drafts and bills of exchange (including promissory notes of
member banks secured by eligible paper or bonds, notes or certificates
of indebtedness of the United States), having a maturity a t time of
discount of not more than 15 days
3/^%
For notes, drafts and bills of exchange, having a maturity at time of discount of more than 15 days and not more than 90 days
\Yf/c
For agricultural paper having a maturity at time of discount of more than
90 days and not more than six months
5',
SPECIAL RATES
For notes, drafts and bills of exchange issued or drawn for the purpose of
buying or carrying bonds, notes or certificates of indebtedness of the
United States, and secured thereby, having a maturity at time of discount
of more than 15 days but not more than 90 days
4%
For trade acceptances having a m a t u r i t y at time of discount of more than
15 days but not more than 90 days
_
4%
For one day promissory notes of member banks required in connection
with transactions involving the fiscal operations of the Government, secured by eligible paper or bonds, notes or certificates of indebtedness of
the United States
3 % to 4 ^ %
Respectfully,
B K N J . STRONG,

Governor.

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