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Fe d e r a l Re s e r v e bank of Da l l a s DALLAS, TEXAS August 4,1955 DISCOUNT RATES T o the Member Banks o f the Eleventh Federal Reserve District: Effective August 5, 1955, this bank will increase its rates on dis counts and advances, as follow s: The rate on discounts for, and advances to, member banks under the provisions o f Section 13 and 13a o f the Federal Reserve A ct will be increased from 1 % % per annum to 2% per annum. The rate on advances to member banks under the provisions o f Section 1 0 (b ) o f the Federal Reserve A ct will be increased from 2 )4 % per annum to 2 )4 % per annum. The rate on advances to individuals, partnerships, and corporations under the provisions o f the last paragraph o f Section 13, secured by direct obligations o f the United States, will he increased from 3)4 % per annum to 3 )4 % per annum. There is printed on the reverse side hereof a copy o f revised Bulle tin No. 1, dated August 5,1955, which sets forth all o f the rates in effect at this bank with respect to discounts, advances, and commitments. This bulletin should be inserted in the ring binder previously furnished your bank, in place o f Bulletin No. 1, dated April 15, 1955. Please acknowledge receipt o f the bulletin on the enclosed postal card. Yours very truly, Watrous H . Irons 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 AUGUST 5, 1955 (Superseding Bulletin No. 1, dated April 15, 1955) RATES FOR DISCOUNTS AND ADVANCES Under Sections 13, 13a, 13b, and 10(b ) of tlie Federal Reserve Act T o the Member Banks of the Eleventh Federal Reserve D istrict: The following rates with respect to discounts, advances, and commitments under the Federal Reserve Act are now in effect at this bank: P e r Annum Discounts fo r and advances to m em ber banks: (a) Discounts and advances under sections 13 and 13a........................... 2% (b ) Advances under section 1 0 ( b ) ............................................................ 2)4% Advances ( up to 9 0 days) to individuals, partnerships, and corporations, including nonm em ber banks, but excluding m em ber banks: Advances under the last paragraph of section 13 secured by direct obli gations o f the United States............................................................... 3)4% Industrial advances and commitments under section 1 3 b : (a) Advances direct to established industrial or commercial businesses, including advances made in participation with other financing insti tutions.......................................................................................................... (b) Commitments to make advances direct to established industrial or commercial businesses.............................................................................. (c ) Advances taken over from financing institutions under commit ments : On portion for which a financing institution is obligated.......... On portion for which Federal Reserve Bank assumes the risk .. (d ) Commitments to financing institutions to discount, purchase, or make advances: On undisbursed portion of loan..................................................... On disbursed portion o f loan........................................................... 3 to 5)4% 10% to 25% o f loan rate, with a minimum o f )4% . The rate charged bo rr o we r less commitment rate. The rate charged borrower. % % 10% to 25% o f loan rate, with a minimum o f )4% . Rebates o f unearned discount on member bank notes and rediscounts anticipated before maturity will, as heretofore, until further notice, be made at the discount 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, YVatrous H. Irons President
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