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1107 F E D E R A L R E S E R V E B O A R D WASHINGTON December 3> 1920. Subject: Code words t o be used i n rediscount t r a n s a c t i o n s . Dear S i r : There i s submitted herewith a new l i s t of code words and phrases to be used in rediscount t r a n s a c t i o n s between Federal Reserve Banks, superseding the code words suggested i n the Board's l e t t e r s of J u l y 10, 1919, X-1613; J u l y 24, 1919i X-1&8; and August 23, 1919, X-1657. I t i s requested that the new code words be made e f f e c t i v e as of December 15, 1920. Very t r u l y yours, Enclosure. A s s i s t a n t t o Governor. To Chairmen of a l l F,R. Banks. Cory to G-ovemers. X-2078 X-2078 a Xr CODE MESSAGES TO BE USED IN REDISCOUNT TRANSACTIONS BETWEEN FEDERAL RESERVE BANKS. (a) To be sent by the bank wishing t o rediscount t o the Board: CODE WORD; CENTER - , . « Please arrange f o r t h i s bank t o rediscount ( d a t e ) (amount-A.B.A. code) (kind of -paper—see code words given below) maturing (11 to I'D d a y s . Gold Settlement Fund d i r e c t t r a n s f e r i n payment. (b) „ To be sent by the Board to the rediscounting bank: TEMPER. . . .Board has requested (Chicago) to rediscount f o r your Bank (date) (amount-A.B.A.code) (kind of •paper - see code words given below) maturing (11 t o 15) days r a t e (%) p e r c e n t . Gold Settlement Fund d i r e c t t r a n s f e r i n payment. Please arrange d e t a i l s d i r e c t . TEMPLE . . . .Board has requested (Chicago) to rediscount f o r your Bank today as of (date) (amount-A.B.A. code) (kind of paper-see code words given below) maturing (11 t o 15) days, r a t e (%) p e r c e n t . Gold Settlement Fund d i r e c t t r a n s f e r in payment t h i s morning, with a l l e n t r i e s as °f ( d a t e ) • Please arrange d e t a i l s d i r e c t . (c) To be sent by the Board t o the discounting bank: TANNER . . . .Board r e q u e s t s your Bank t o discount f o r (Dallas) (date) (aaount-A.B.A. code) (kind of •paper-see code words given below) maturing (11 t o 15) days, r a t e (%) p e r c e n t . Gold Settlement Fund d i r e c t t r a n s f e r . Please arrange d e t a i l s d i r e c t . TANGENT . . . .Board requests your Bank t o discount f o r (Dallas) today as of (date) (amount-A.B.A. code) (kind of -paper - see code words given below) maturing (11 to 15) days, r a t e (J) p e r r e n t . Gold Settlement Fund d i r e c t t r a n s f e r i n payment t h i s morning, with a l l e n t r i e s as of ( d a t e ) . Please arrange d e t a i l s direct. (d) To be s e n t by the d i s c o u n t i n g bank to the r e d i s c o u n t i n g bank: HAMMER . . . . I n accordance with request of the Federal Reserve Board we s h a l l be pleased to d i s c o u n t f o r your Bank ( d a t e ) (amount— A.B.A.. code) (kind of -paper-see code words given below) maturing (11 t o 15) days, r a t e (%) p e r c e n t . Please deposit paper w i t h Federal Reserve Agent of your Bank f o r account Federal Reserve Agent of t h i s Bank and have him wire our Agent acknowledging r e c e i p t of b i l l s and c o l l a t e r a l . Wire amount of unearned discount c r e d i t e d , a l s o advise s e p a r a t e l y f o r each kind of paper t o t a l amount maturing w i t h i n f i f t e e n days, t h i r t y days, s i x t y days, n i n e t y days and over n i n e t y days. Also p l e a s e forward schedules. Gold Settlement Fund d i r e c t t r a n s f e r w i l l be made i n payment. -2- X-20T8 a HAMtiCT . . . . In accordance with r e q u e s t of the F e d e r a l Reserve Board we s h a l l be p l e a s e d t o d i s c o u n t f o r your Bank today a s of ( d a t e ) (amount-/«B./.. code) (kind of "paper - see code words given below) maturing (11 t o 15) d a y s , r a t e (%) p e r c e n t . P l e a s e d e p o s i t paper with F e d e r a l Reserve J1 gent of your Bank f o r account Federal Reserve Agent of t h i s Bank and have him wire our / g e n t acknowledging r e c e i p t of " b i l l s and c o l l a t e r a l , ^ i r e amount of unearned d i s c o u n t c r e d i t e d ; a l s o advise s e p a r a t e l y f o r each kind of p a p e r t o t a l amount maturing w i t h i n f i f t e e n d a y s , t h i r t y d a y s , s i x t y d a y s , n i n e t y days, end over n i n e t y d a y s . Also p l e a s e forward s c h e d u l e s . Gold Settlement Fund d i r e c t t r a n s f e r w i l l he made t h i s morning in payment, with a l l e n t r i e s as of ( d a t e ) (e) To he s e n t by the Agent of t h e r e d i s c o u n t i n g bank t o t h e Agent of the d i s c o u n t i n g bank: P/WPFR . . . (f) To be s e n t by d i s c o u n t i n g bank to Board: R/NGFR . . . (g) . 1 have r e c e i v e d from t h e Federal Reserve Bask of ( D a l l a s ) . p r o p e r l y endorsed by i t , (amount-/.B.. A. code) (kind of r a r e r see code words given below)maturing ( l l t o 15) days, r a t e XX) p e r c e n t and am h o l d i n g same i n t r u s t f o r you f o r account of F e d e r a l Reserve Bank of (Chicago) which Bank i s d i s c o u n t i n g above p a p e r a s of ( d a t e ) . D e t a i l f i g u r e s and schedules w i l l follow. . I n accordance with B o a r d ' s r e q u e s t we w i l l d i s c o u n t f o r ( D a l l a s ) as of ( d a t e ) (amount-A.B.A, code) (kind o-f r a p e r - s e e code words g i v e n below) maturing ( l l t o 15) d a y s , r a t e (%) p e r c e n t . We are a r r a n g i n g d e t a i l s d i r e c t with ( D a l l a s ) . Gold S e t t l e m e n t Fund d i r e c t t r a n s f e r w i l l be made today i n payment, with a l l e n t r i e s as of ( d a t e ) . To be sent by r e d i s c o u n t i n g bank t o d i s c o u n t i n g bank: REAPER . . . . I n accordance with your wire ( d a t e ) we have d e l i v e r e d t o the Federal Reserve Agent of t h i s Bank t o be h e l d i n t r u s t f o r the F e d e r a l Reserve Agent of your Bank f o r the account of your Bank (amount-/»B.z. c o d e ) ( k l n d of r a r e r - s e e code words given below) maturing (11 t o 15) d a y s . P l e a s e make d i r e c t t r a n s f e r cf (amount-*.B.Z. code) ( d a t e ) through Gold Settlement Fund i n payment. We c r e d i t your account in Gold Fund c l e a r i n g ( d a t e ) ( a m o u n t - / ^ B . / . code) d i s c o u n t a t ( J ) p e r c e n t f o r (10) days on (amount-Z.B.Z. code) (kind of r a r e r - s e e code words given below) and. (amount-/.B.A. code) d i s c o u n t a t (%) p e r c e n t f o r (10) days on (amount-A.B./. code) (kind of r a r e r - s e e code words g i v e n below); t o t a l c r e d i t f o r d i s c o u n t (amount-A.B.A. c o d e ) ! Schedule of b i l l s pledged with our Agent w i l l be mailed ( d a t e ) (h) To be s e n t by r e d i s c o u n t i n g bank to d i s c o u n t i n g t a n k i n renewal transactions: RFC/ST . . . . I n accordance w i t h your wire of ( d a t e ) we have d e l i v e r e d t o the Federal Reserve Agent of t h i s Bank t o be h e l d i n t r u s t f o r the F e d e r a l Reserve Agent of your Bank f o r the account of y o u r Bank 1110 -> X-2078 a (amount-A.B.A. code) (kind of paper-see code words given below) maturing (11 t o 15) days. We have received from the Federal Reserve Agent of t h i s Bank paper lodged w i t h him (10) days ago i n e q u i v a l e n t amount* We are paying you f o r t o d a y ' s m a t u r i t i e s through the Gold Settlement Fund by d i r e c t t r a n s f e r today end r e q u e s t t h a t you make d i r e c t t r a n s f e r t o us of (amount-A.#./, code) covering liew. t r a n s a c t i o n . We c r e d i t your account i n Gold Fund c l e a r i n g (date) (amount-.A.3.A. code) discount a t ( J ) p e r c e n t f o r (10) days on f amount-A.B.A. code) (kind of n a r e r see code words given below) and (amomat-A.B.A. code) d i s c o u n t a t ( J ) p e r cent f o r (10) days on '(amount-A.B.A. code) (kind of paper-see code words given below): t o t a l c r e d i t f o r discount (amount-A.B.A. code). Schedule of b i l l s pledged with our Agent b e i n g mailed. (i) To be sent by rediscounting bank t o discounting bank i n making advance payments: RESORT . . . .We are paying your Bark today by d i r e c t t r a n s f e r through the Gold Settlement Fund on account of proceeds of advence payment f o r our rediscount with your bank due ( d a t e ) a s f o l l o w s : Rate (%) p e r cent (Name) or (No) Amt. (A.B.A. Code) Disc. (amt. A.B.A.code) Proceeds (A.B.A.code) (Name) or (No) Amt. 4 (A.B4A. Code) Disc, (amt.; A.B.A.code) Proceeds (A.B.A.code) (j) Designations of kinds of p a p e r : CERTIFICATES . . . . member bank promissory notes secured by Treasury c e r t i f i c a t e s of indebtedness. LIBERTIES member bank promissory n o t e s secured by L i b e r t y bonds. VICTORIES member bank promissory notes secured by Victory n o t e s . COMMERCIAL . . . . . commercial paper secured o r unsecured.
@FedFRASER