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Federal R eserve Bank OF DALLAS W ILLIAM H. W ALLACE DALLAS, T E X A S 7 5 2 2 2 f i r s t v ic e p r e s i d e n t May 20, 1985 Circular 85-67 TO: All depository institutions and others concerned in the Eleventh Federal Reserve District SUBJECT Discount rate change DETAILS 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 by one half of one percent the basic discount rate. The rates for temporary seasonal credit and other extended credit also were decreased by one half of one percent. These rulings become effective May 20, 1985. 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 March 11, 1985, should be removed. MORE INFORMATION For further information, please contact the Bank's Loan Department at (214) 651-6241. Sincerely yours, For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This'publication was digitized and made available by the Federal Reserve Bank o f Dallas' Historical Ubraiy (FedHistoiy@dal.frb.ofv) BULLETIN 2 FEDERAL RESERVE BANK OF DALLAS 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 Basic rate: short-term adjustment credit under 201.3(a) and regular seasonal credit under 201.3(b) (1) of Regulation A 1..................................................................... Per Annum Effective from 7V.i% May 20, 1985 8% May 20, 1985 First 60 d a y s ..................................................................... 7V2 % May 20, 1985 Next 90 d a y s ..................................................................... 8Yz% May 20, 1985 T h erea fter......................................................................... 9 V2 % May 20, 1985 Temporary seasonal credit under 201.3(b) (1) of Regulation A ......................................................................... Other extended credit under 201.3(b) (2) of Regulation A (special circumstances credit and credit for institutions under sustained liquidity pressures)2 1 This 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. 5-20-85 A-1
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