Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Rediscount Rate of Federal Reserve Bank of Philadelphia, Number X-4102, Volume 20, Page 454

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I

FEDERAL

RESERVE

BOARD

STATEMENT FOR THE PRESS
X-4102

For Immediate Release
3 : 30 P*

June 25 t 1924,

The Federal Reserve Board announces that the
Federal Reserve Bank of Philadelphia has established a
rediscount rate of

for paper with maturities of

over ninety days e f f e c t i v e immediately.

The Philadelphia

Bank recently established a 3i% rate on paper maturing
within ninety days.

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