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91 BOARD OF GOVERNORS OF' THE FEDERAL RESERVE SYSTEM H-697 WASHINGTON ADDRESS DF'F'ICIAL CORRESPONDENCE TO THE BOARD ., August 30, 1940 • Dear Sir: Recently one of the Federal Reserve Banks submitted certain changes in discount rates applicable to industrial advances under Section l3b. The changes recommended were approved, but during their consideration there was suggested the desirability of a review of the existing schedules of rates of all the Federal Reserve Banks under Section l3b for the purpose of ascertaining, first, whether th~ were justified in the light of existing conditions and, second, whether the schedules of rates for all districts should be made uniform. • • The Board, therefore, is suggesting that the Chairman of the Presidents' Conference place this subject on the program of the forthcoming Conference, which, it is understood, has been called for September 27, 1940. It is hoped that the discussion will bring out fully the reasons for the conclusions reached on both of these questions as to which the Board desires to be advised for its information in passing upon the rates. very tey y~~ ----- ~ c.---~ L. P. Bethea, Assistant Secretary. TO THE PRESIDENTS OF ALL FEDERAL RESE.B.VE BAl'l'KS Copy to all Chairmen of Federal Reserve Banks
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