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X-7448 FEDERAL RESERVE BOARD STATEMENT FOR THE PRESS For r e l e a s e at 6:00 p.m. June 1 , 1933. The Federal Reserve Board announces t h a t the Fede r a l Reserve Bank of San Francisco has e s t a b l i s h e d a r e d i s count r a t e of 3fo e f f e c t i v e June 2, 1933.