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Fe d e r a l Reserve ban k of Dallas DALLAS, TEXAS October 23, 1958 DISCOUNT RATES T o the Member Banks o f the Eleventh Federal Reserve District: Effective October 24, 1958, 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 Sections 13 and 13a of the Federal Reserve A ct will be increased from 2 % per annum to 2 ^ % per annum. The rate on advances to member banks under the provisions of Section 1 0 (b ) o f the Federal Reserve A ct will be increased from 2 x2 % / per annum to 3 % per annum. The rate on advances to individuals, partnerships, and corporations, under the last paragraph o f Section 13, secured by direct obligations o f the United States, will be increased from 4 % per annum to 4 ^ % per annum. There is printed on the reverse side h ere o f a cop y o f revised Bulletin No. 1, dated October 24, 1958, which sets forth all o f 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 your bank, in place o f Bulletin No. 1, dated August 22, 1958. Please acknowledge receipt o f the bulletin on the enclosed postal card. Yours very truly, W atrous H. Irons, President (over) 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 October 24, 1958 Superseding Bulletin No. 1, dated August 22,1958 RATES FOR DISCOUNTS AND ADVANCES Under Sections 13, 13a, 13b, and 1 0 (b ) o f the Federal Reserve Act T o the Member Banks o f the Eleventh Federal Reserve District: The following rates with respect to discounts, advances, and commitments under the Federal Reserve A ct are now in effect at this bank: Discounts fo r and advances to m em ber banks: Per Annum (a ) Discounts and advances under sections 13 and 13a............................. 2*4% (b ) Advances under section 1 0 (b )................................................................. 3% , Advances ( up to 9 0 days) to individuals partnerships, and corporations: Advances under the last paragraph o f section 13 secured by direct obli gations o f the United States.................................................................... 4J^>% 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 r is k .. (d ) Commitments to financing institutions to discount, purchase, or make advances: On undisbursed portion o f loan............................................................... On disbursed portion o f loan.................................................................... 4 to 6% 10% to 2 5 % o f loan rate, with a minimum of The rate charged b o r r o w e r less commitment rate. The rate charged borrower. Jd%> 10 % to 2 5 % o f loan rate, with a minimum o f 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, Watrous H. Irons President (o e ) vr