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F ederal reserve Bank O F DALLAS Dallas, Texas, February 14, 1948 DISCOUNT RATES To All Banking InstituttQns^frjthe Eleventh Federal Reserv&’BfStrict Effective February 14,1948, this baflifTiair’increased to 2 ^ % per annum from 2 % per annum the discount rate ot^idvances to individuals, partner ships, and corporations, including nonmenmer?teaSnc& but excluding member banks, secured by direct obligations of the U nit^S rates under the provisions o f paragraph 13 o f Section 13 o f the Federal Resmve'Act. There is enclosed a copy of revised Bulletin No. 1^ dated February 14, 1948, which sets forth all of the rates on discounts, advances, and commit ments now in effect at this bank. Banks which are members o f the Federal Reserve System should insert this bulletin in the ring binder previously furnished them, in place o f Bulletin No. 1, dated January 12, 1948. Member banks are asked to acknowledge receipt o f the bulletin on the enclosed postal card. Yours very truly, R. R. GILBERT President 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 No. 1 FEBRUARY 1 4 ,1 9 4 8 (Superseding Bulletin No. 1, dated January 12, 1948) RATES FOR DISCOUNTS AND ADVANCES Under Sections 1 3, 13a, 13b and 10b o f the Federal Reserve Act T o the Member Banks o f the /**? Eleventh Federal Reserve DiSnfef: The following rates with respect to SlcQugtS^aiTd advances under the Federal Reserve A ct are now in effect at this bank: , Advances to member banks secured by direct obfigif tions o f the United States, under the provisions o paragraphs 8 and 13 o f Section 13__________________ per annum Discounts and other advances to member banks under the provisions o f Sections 13 and 13a___ ..___ — per annum Advances to member banks under the provisions of Section 1 0 b ....................................................................... per annum Advances (up to 90 days) to individuals, partnerships, and corporations, including nonmember banks but excluding member banks, secured by direct obliga tions o f the United States under the provisions o f Section 13 _______________________________________ 2 y a% per annum Advances direct to established industrial or commer cial businesses, including advances made in participa tion with other financing institutions, under the pro visions o f Section 13b__________ __________________ 2 y2-5 % per annum Advances to financing institutions with respect to loans to established industrial or commercial businesses under the provisions o f Section 13b On the portion for which a financing institution is obligated --------------------------------------------------------- The rate charged borrower, less commitment rate On the remaining portion________________________ The rate charged borrower
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