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Federal R eserve Bank OF DALLAS ROBERT D. M C T E E R , J R . P R E S ID E N T AND C H IE F E X E C U T IV E O F F IC E R February 3, 1995 DALLAS, TEXAS 75265-5906 Notice 95-30 TO: The Chief Executive Officer of each member bank 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 increase the basic discount rate by one-half of one percentage point. The rate for extended credit was also increased by one-half of one percentage point. These actions became effective February 2, 1995. Printed on the reverse of this notice is a copy of Supplement A to Bulletin 2 (Operating Circular 2), which contains the current rate schedule in effect at this Bank. This supplement should be inserted in your Bulletins binder, and the supplement dated November 17, 1994, should be removed. MORE INFORMATION For more information, please contact John R. Phillips or Finlay R. Higgins at (214) 922-5333. For additional copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely yours, For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333 -4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. 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 (OPERATING CIRCULAR 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 Basic rate: Adjustment credit under 201.3(a) of Regulation A1 5X A% February 2, 1995 Flexible Rate February 2, 1995 First 30 days........................... . 514 % February 2, 1995 Thereafter................................ Flexible Rate February 2, 1995 Seasonal credit under 201.3(b) of Regulation A2 Extended credit under 201.3(c) of Regulation A3 ‘This is also the discount rate for 90-day commercial paper and other paper eligible for discount. A rate higher than the basic discount rate will be applied to loans of unusual size that result from a major operating problem at the borrower’s facility, unless the problem is clearly beyond the borrower’s reasonable control. The new rate will be the highest rate within the structure of discount rates at the time in question. 2A flexible rate that takes into account rates on market sources of funds is applied to seasonal credit, but in no case will the rate be less than the discount rate applicable to adjustment credit. See 12 CFR 201.52(a). 3A flexible rate that takes into account rates on market sources of funds ordinarily will be applied to any "extended credit" outstanding for more than 30 days. The flexible rate will not be lower than the basic rate plus one-half percentage point. At the discretion of this Reserve Bank, the 30-day time period for which the basic rate is charged may be lengthened or shortened. See 12 CFR 201.52(b). FEBRUARY 2, 1995 A-1
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