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Fe d er a l Reser v e b a n k o f Da lla s
DALLAS. TEXAS

November 22, 1955

DISCOUNT RATES

To the Member Banks of the
Eleventh Federal Reserve District:
Effective November 23, 1955, this bank will increase its rates on
discounts and advances, as follows:
The rate on discounts for, and advances to, member banks under
the provisions of Section 13 and 13a of the Federal Reserve Act will
be increased from 2 14 % per annum to 2 y2°/o per annum.
The rate on advances to member banks under the provisions of
Section 10(b) of the Federal Reserve Act will be increased from
2 ^ °fo per annum to 3% per annum.
There is printed on the reverse side hereof a copy of revised Bulle­
tin No. 1 dated November 23, 1955, which sets forth all of the rates in
effect at this bank with respect to discounts, advances, and commit­
ments. This bulletin should be inserted in the ring binder previously
furnished vour bank, in place of Bulletin No. 1, dated September 9,
1955.
Please acknowledge receipt of the bulletin on the enclosed postal
card.
Yours very truly,
Watrous FI. 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
November 23, 1955

(Superseding Bulletin No. 1,
dated September 9, 1955)

RATES FOR DISCOUNTS AND ADVANCES
Under Sections 13, 13a, 13b, and 1 0 (b ) o f the Federal Reserve Act

To the Member Banks of the
Eleventh Federal Reserve District:
The following rates with respect to discounts, advances, and commitments under the Federal
Reserve Act are now in effect at this bank:
Discounts for and advances to member banks:
Per Annum
(a) Discounts and advances under sections 13 and 13a.............................
(b) Advances under section 10(b)............................................................... 3%
Advances ( up to 90 days) to individuals, partnerships, and corporations,
including nonmember banks, but excluding member banks:
Advances under the last paragraph of section 13 secured by direct obli­
gations of the United States.............................................................

%

Industrial advances and commitments under section 13b:
(a) Advances direct to established industrial or commercial businesses,
including advances made in participation with other financing insti­
tutions....................................................................................................... 3 tO 5f4%
(b) Commitments to make advances direct to established industrial or
commercial businesses............................................................................ 10% to 25% of
loan rate, with a
minimum of k=%.
(c) Advances taken over from financing institutions under commit­
ments :
On portion for which a financing institution is obligated......... The rate charged
b o rro w e r 1 ess
commitment rate.
On portion for which Federal Reserve Bank assumes the risk.. The rate charged
borrower.
(d) Commitments to financing institutions to discount, purchase, or
make advances:
On undisbursed portion of loan................................................... Z %
A
On disbursed portion of loan......................................................... 10% to 25% of
loan rate, with a
minimum of J^%.
Rebates of 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,
Watrous H. Irons
President