The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F e d e r a l R e s e r v e Ba n k OF DALLAS Dallas, Texas, March 16,1946 To all Banking Institutions in the Eleventh Federal Reserve District: On September 16, 1989— shortly after the outbreak of the European war—this bank established a discount rate of 1% per annum on advances to nonmember banks secured by direct obligations of the United States. The continuation of that rate is now considered unnecessary, and has there fore been eliminated, effective March 16, 1946. The 2% rate applicable to advances to individuals, partnerships, and corporations, secured by direct obligations of the United States, is being continued and will hereafter apply to such advances to nonmember banks. There is enclosed a copy of Bulletin No. 1, dated March 16, 1946, which sets forth all of the rates on discounts, advances, and commitments now in effect at this bank. Banks which are members of the Federal Reserve Sys tem should insert this bulletin in the ring binder previously furnished them, in place of Bulletin No. 1, dated October 17, 1942. Yours very truly, R. R. GILBERT President 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 MARCH 16, 1946 (Superseding Bulletin No. 1, dated October 17, 1942) RATES FOR DISCOUNTS AND ADVANCES Under Sections 13, 13a, 13b and 10b of the Federal Reserve Act T o the Member Banks o f the Eleventh Federal Reserve D istrict: The following rates with respect to discounts and advances under the Federal Reserve Act are now in effect at this bank: Advances to member banks secured by direct and such fully guaranteed obligations of the United States as are eligible for collateral purposes, which have one year or less to run to call date, or to maturity if no call date, under the provisions o f paragraphs 8 and 13 o f Section 13______________________________ ___ y2 % per annum Advances to member banks secured by direct and such fully guaranteed obligations o f the United States as are eligible for collateral purposes, which have more than one year to run to call date, or to maturity if no call date, under the provisions of paragraphs 8 and 13 o f Section 13___________________________________ ___ 1 °/o per annum Discounts and other advances to member banks under the provisions o f Sections 13 and 13a_______________ 1% per annum Advances to member banks under the provisions of Section 10b ________________________________________ 1y2% per annum Advances (up to 90 days) to individuals, partnerships, and corporations, including nonmember banks but excluding member banks, secured by direct obliga tions o f the United States under the provisions o f Section 13__________________________________ ______ 2% per annum Advances direct to established industrial or commer cial businesses, including advances made in participa tion with other financing institutions, under the pro visions o f Section 13b______________________________ 2y2-5% per annum —2— BULLETIN No. 1 Advances to financing institutions with respect to loans to established industrial or commercial businesses under the provisions o f Section 13b On the portion for which a financing institution is obligated _____________________________________ The rate charged borrower, less commiment rate On the remaining portion------------------------------------- The rate charged borrower Commitments to established industrial or commercial businesses under the provisions o f Section 13b_____ 10% to 25% o f loan rate, with minimum oi Y % per annum Commitments to financing institutions to discount, pur chase, or make advances under the provisions o f Sec tion 13b O n undisbursed portion o f loan 34% per annum On disbursed portion o f loan-__ 34% per annum 10% to 25% o f loan rate, with minimum o f 34% per annum 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. Respectfully, R. R. G IL B E R T President
@FedFRASER