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fed eral R e s e r v e b a n k o f Da l l a s D ALLAS. TEX A S November 25, 1964 DISCOUNT RATES To the Member Banks of the Eleventh Federal Reserve District: Effective November 27, 1964, 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 2y2% per annum to 4% 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 4% per annum to 4y2 % per annum. The rate on advances to individuals, partnerships, and corpora tions, under the last paragraph of Section 13, secured by direct obliga tions of the United States, will be increased from \y2°/o to 5% per annum. There is printed on the reverse side hereof a copy of revised Bulletin No. 1, dated November 27, 1964, which sets forth all of the rates in effect at this bank with respect to discounts and advances. This bulletin should be inserted in the ring binder previously furnished your bank, in place of Bulletin No. 1, dated July 17, 1963. Please acknowledge receipt of the bulletin on the enclosed postal card. Yours very truly, Watrous 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 RANK OF DALLAS BULLETIN NO. 1 November 27, 1964 (Superseding Bulletin N o. 1, dated July 17, 1963) RATES FOR DISCOUNTS AND ADVANCES Under Sections 13, 13a, and 10 (b ) of the Federal Reserve Act T o the M em ber Banks o f the Eleventh Federal Reserve D istrict: T h e follow ing rates with respect to discounts and advances under the Federal Reserve A ct are now in effect at this bank: Discounts for and advances to m em ber banks: Per Annum (a ) Discounts and advances under Sections ( b ) Advances under Section 1 0 ( b ) ........................................................ 13 and 13a.............. 4% Ax / 2% Advances (u p to 9 0 days) to individuals, partnerships and corporations: Advances under the last paragraph o f Section 13 secured by direct obligations o f the United States......................................................... 5% 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, W atrous H . Irons President (over)
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