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F 2 DEEA L EE S 3 E V E B 0 ABD STATEMENT FOE TIE PBSSS. For Immediate Eelease X-4498 4:00 o'clock p.m January 7, 1926 The Federal Eeserve Board announces that i t has approved an application of the Federal Be serve Bank of Hew York for pe remission to establish a rediscount rate of 4 per cent on a l l classes of paper of a l l maturities, effective January 8, 1926. The Board has also approved the ^ew York bank increasing "by l / 4 of 1 per cent a l l rates at which i t purchases acceptances in the open market.
@FedFRASER