Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Rediscount Rate of Federal Reserve Bank of Richmond, Number X-4926, Volume 27, Page 135

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x-4926

FEJJERAL

RES~RVE

BOARD

STATEMEUT FOR T~ PRESS

For immediate release.

August 15, 1q27.
2:00 o'clock p.m.

The Federal Reserve 'Board announces tha.t it has apnroved
an application of the Federal Reserve Bank of Richmond for permission to establish a rediscount rate of 3 1/2 per cent on all
classes of paper of all maturities, effective August 16, 1927.