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F ederal Reserve Ba nk DALLAS, TEXAS of Dallas 75222 Circular No. 80-167 August 29, 1980 RATES FOR DISCOUNTS AND ADVANCES TO ALL DEPOSITORY INSTITUTIONS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Printed on the reverse of this circular is a revised Supplement A to Bulletin 2 of the Federal Reserve Bank of Dallas containing the schedule of rates for discounts and advances at this Bank effective September 2, 1980. This supplement should be inserted in the regulations binder previously furnished and the supplement dated July 28, 1980 should be destroyed. Depository institutions who have not yet been provided a binder should retain the supplement for future reference. There has been no change in the basic (discount) rate or any of the other rates set out in this supplement. The rate schedule, however, has been restated for consistency with the revised version of Federal Reserve Regulation A, "Extensions of Credit by Federal Reserve Banks", effective September 1, 1980, which was transm itted to all depository institutions under our Circular 80-160, August 21, 1980. In addition, the Board of Governors of the Federal Reserve System has approved action by the Federal Reserve Bank of Dallas, effective September 2, 1980, eliminating the special section 10(b) rate (one-half percent over the discount rate) for advances secured by collateral ineligible for discount. This action was taken pursuant to section 106 of the Monetary Control Act of 1980. In the future, advances classified as short-term adjustment credit or seasonal credit can be made to depository institutions at the basic (discount) rate without regard to whether the collateral is eligible for discount, and subject only to the requirement that the collateral be acceptable to the Federal Reserve Bank of Dallas from a credit standpoint. Higher rates may apply, however, to other categories of advances. A revised version of Bulletin 2 of the Federal Reserve Bank of Dallas, containing additional information about borrowing from this Bank, will be provided to all depository institutions in the near future. Sincerely yours, Ernest T. Baughman President Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) B U L L E T IN 2 F E D E R A L R ESERVE BANK OF DALLAS Supplement A RATES FOR DISCOUNTS AND ADVANCES The following rates with respect to discounts and advances under the Federal Reserve Act and Regulation A are now in effect at this Bank: Rates on Discounts and Advances Per Annum Effective from 10% July 28, 1980 11% July 28, 1980 13% July 28, 1980 Depository institutions subject to reserve requirements under Regulation D Basic rate: short-term adjustment credit under 201.3(a) and seasonal credit under 201.3(b)(1) of Regulation A* ..................................................................... Other extended credit under 201.3(b)(2) of Regulation A Exceptional circumstances or practices involving a particular institution** ............................ Other individuals, partnerships, and corporations Advances secured by direct or fully guaranteed obligations of the United States or its agencies under 12 USC 347c and 201.3(c) of Regulation A ........... * This is also the discount rate for 90-day commercial paper and other paper eligible for discount, and the rate on all advances or portions of advances secured by mortgages on one-to-four family residential property. ** This rate can be waived, in which case the basic rate applies. 9 -2 -8 0 A-1
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