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BOARD OF GOVERNORS DF THE FEDERAL RESERVE SYSTEM Office Correspondence To Chairman Eccles Richard A« Mas grave Date June is, Subject! International Bank Securities ^ ft Mr* Rouse called and mentioned that the International Bank is getting ready to move on the floatation of its bonds* They are planning to register next Monday* Allowing for the customary twenty days, this would mean that the prospects would go out around the second week of July* Present discussion is in terms of a 10-year bond with a coupon rate of 2 l/2 or 2 3/& per cent and a 25-year bond with a coupon rate of 3 per cent* Mr* House points out that it might be awkward for the Bank to float its bonds and immediately thereafter have the Treasury raise interest rates* He thinks that it would be much better from the Bankfs point of view if any Treasury action (if there is to be any) was to precede the Bank announcement* He raises the question whether this is something to be discussed in the National Advisory Council*
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