Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Rediscount Rate of Federal Reserve Banks of Boston and St. Louis, Number R-65, Volume 47, Page 134

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R-65

BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM

STATEMENT

For release at 2 p.m.

FOR THE PRESS

September 1, 1937.

The Board of Governors of the Federal Reserve
System today approved the action of the directors of the
Federal Reserve Banks of Boston and St. Louis in reducing
their respective discount rates from 2% to 1^%, effective
September 2, 1957,