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FEDERAL R ESER V E BAN K OF DALLAS Station K, Dallas. T e xa s 7 5 2 2 2 Circular No. 84-128 December 21, 1984 TO: All depository institutions and others concerned in the Eleventh Federal Reserve District ATTENTION: Chief Executive Officer SUBJECT: Discount Rate change DETAILS: Effective December 24, 1984, the Board of Governors of the Federal Reserve System approved action by the Board of Directors of the Federal Reserve Bank of Dallas to decrease the Discount Rate by one half of one percent. The rates for other extended credit also were decreased by one half of one percent. A footnote has been added concerning procedural changes in the rates for other extended credit, reflecting action taken by the Board of Governors on November 8, 1984, and by the Board of Directors of this Bank on December 13, 1984. Printed on the reverse of this circular is a copy of Supplement A to Bulletin 2 which contains the current rate schedule in effect at this Bank. This supplement should be inserted in volume 1 of the Regulations binders and the supplement dated November 21, 1984, should be removed. MORE INFORMATION: Loan Department, Extension 6241 ADDITIONAL COPIES: Public Affairs Department, Extension 6289 B a n k s a n d o t h e r s a r e e n c o u r a g e d to u s e t h e f o l l o w i n g i n c o m i n g W A T S n u m b e r s in c o n t a c t i n g t h is Ba nk: 1-8 0 0 -4 4 2 -7 1 4 0 ( in t r a s t a t e ) a n d 1 - 8 0 0 - 5 2 7 - 9 2 0 0 ( in t e r s t a t e ). F o r c a l l s p l a c e d lo c a lly , p l e a s e u s e 651 p lu s t h e e x t e n s i o n refe r re d t o ab o v e . This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE BANK OF DALLAS BULLETIN 2 Supplement A RATES FOR DISCOUNTS AND ADVANCES The following rates with respect to discounts and advances under the Federal Reserve Act and Regulation A are now in effect at this Bank: Rates on Discounts and Advances Per Annum Effective from 8% December 24, 1984 First 60 d a y s ............................................................... 8% December 24, 1984 Next 90 d a y s ............................................................... 9% December 24, 1984 T hereafter................................................................... 10% December 24, 1984 Basic rate: short-term adjustment credit under 201.3(a) and seasonal credit under 201.3(b)(1) of Regulation A1................................................................... Other extended credit under 201.3(b)(2) of Regulation A (special circumstances credit and credit for institutions under sustained liquidity pressures)2 1This is also the discount rate for 90-day commercial paper and other paper eligible for discount. 2 At the discretion of the Federal Reserve Bank of Dallas, in cases where credit is anticipated to be outstanding for prolonged periods and in relatively large amounts, the time period for each rate in the extended credit rate structure may be shortened. This Bank also may apply a flexible rate that takes into account rates on market sources of funds. The flexible rate will not be lower than the basic rate plus one percentage point. 12-21-84 A-l
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