Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Rediscount Rate of Federal Reserve Bank of San Francisco, Number X-4944, Volume 27, Page 156

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X-4944

-FEDE3.AL
- - - - -ยท- -RESERVE
- - - - - - :SOARD
-- - -STATEY~TT

For irm:n.Gdia.t.El

FOR T?.E PRESS

release:
September 9, 1927.

Tb.e Federal :Reserve :Soard announces t:1at it has a:Ylroved

a..."'l

application of the Federal Reserve :Sa"'lk of San Francisco for permission
to establish a

redisc~unt

rate of 3 1/2 per cent on all classes of paper

of all maturities, effective September 10, 1927.