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F ederal reserve Ba n k of Dallas DALLAS, TEXAS 75222 C irc u la r No. 74-281 October 18, 1974 RATES FOR DISCOUNTS AND ADVANCES To A l l Member Banks in the Eleventh Federal Reserve D is tric t: Effective September 27, 1974, the Board of Governors of the Federal Reserve System approved action by the D irectors of the Federal Reserve Bank of D allas e stablis hing a special rate of 10 percent on credit to member banks for prolonged periods and in s ig n ific a n t amounts. A ll other rates on discounts and advances remain the same. The purpose of the special rate set at 10 percent is to lim it any rate preference for lo n g -te rm a s sista n ce to individual member banks and to encourage borrowing banks to make adjustments in th e ir operations to permit repayment of th e ir loans w ithin a reasonable period. The s pecial rate may apply where borrowing has taken place for extended periods (such as more than eight weeks) and in s ig n ific a n t amounts (such as amounts exceeding on average the bank's required reserves). There is printed on the reverse side hereof a copy of revised Supplement A of our Bulletin No. 2 which sets forth a ll of the rates in effect at th is bank. This should be inserted in the ring binder p re v io u s ly furnished your bank, in place of the supplement which is no longer in effect. Yours very truly, P. E. Coldwell President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FED ER A L RESERVE BANK OF DALLAS BULLETIN 2 Supplement A RATES FOR DISCOUNTS A N D A D V A N C E S The following rates with respect to discounts and advances under the Federal Reserve Act and Regulation A are now in effect at this bank: R a tes on D iscounts and Advances: Per Annum Effective from: Discounts for and advances to member banks under Sections 13 and 13a of the Federal Reserve Act.................................8% April 25, 1974 Advances to member banks under Section 10(b) of the Federal Reserve Act.....................................................................8lA% April 25, 1974 Advances to member banks under Section 201.2(e) (2) of Regulation A.........................................................................................10% September 27, 1974 Advances to individuals, partnerships, and corporations other than member banks, secured by direct obligations of the United States, under the last paragraph of Section 13 of the Federal Reserve Act............................................... 10% April 25, 1974 9-27-74 A-1
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