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X-7446 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For r e l e a s e a t 2:00 p . m. May 31, 1933. The Federal Reserve Board announces t h a t t h e Federal Reserve Bank of Boston has e s t a b l i s h e d a r e d i s c o u n t r a t e of 3 p e r c e n t , e f f e c t i v e June 1, 1933.