Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Rediscount Rate of Federal Reserve Bank of Cleveland, Number X-7001, Volume 35, Page 471

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X- 7001

1 1 . D E R A X: R I S E R V E . BO A R B
STATEMENT FOR THE PRESS

For r e l e a s e a t 3:00 p . m. .

October 23, 1931.

The Federal Reserve Board announces that the Fede r a l Reserve Bank of Cleveland has established a rediscount
r a t e of 3 l / 2 per cent on a l l classes of paper of a l l
m a t u r i t i e s , e f f e c t i v e October 24, 1931.