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X-7353 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For r e l e a s e at 3:30 P.M. March 2, 1933. The Federal Reserve Board announces that the Federal Reserve Bank of New York has e s t a b l i s h e d a rediscount r a t e of 3 l / 2 per cent on a l l c l a s s e s 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 March 3, 1933ยป