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X- 6995 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For release a t 6:00 p.m» ; October 20, 1931. The Federal Reserve- Board announces that the Fede r a l Reserve Bank of San Francisco has established a r e d i s count r a t e of 3 | $ on a l l classes 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 October 21, 1931.