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-6878, Volume 34, Page 493

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493
z

FEDERAL

E I S 3 S V I

X-6878

BOA3D

STATEMENT FOR THE PRESS

For r e l e a s e a t 3:00 P.M.

May 6, 1931,

The F e d e r a l Reserve Board announces t h a t t h e F e d e r a l
Reserve Bank of P h i l a d e l p h i a h a s 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 On a l l c l a s s e s of p a p e r of a l l m a t u r i t i e s , e f f e c t i v e May 7 , 1931.