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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


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102