View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Circular No. 3
Series of 1929

F E D ERAL RESERVE B A N K
O F DALLAS

Dallas, Texas, March 1, 1929.

D IS C O U N T R A TE S

To the Member Bank Addressed:

Effective March 2, 1929, and subject to change without notice, the
Federal Reserve Board has approved for this Bank a rate of 5% on all
classes and maturities of rediscounts and member bank notes.
Rebates of unearned discount on member bank notes or rediscounts
anticipated before maturity will, as heretofore, until further notice, be
made at the rediscount rate in effect at the time such paper is rebated, but
in no case at a rate greater than that at which the paper was originally
discounted.

Yours very truly,

Chairman of the Board.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)