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F E D E R A L R E S E R V E BANK OF ST. LOUI S




KATES OF DISCOUNT

February 21, 1928.

TO T H E M EM B ER BANK A D D R E S S E D :
Effective to-day, and subject to change w ithout notice, the Federal
Reserve Board has approved for this Bank a rate of 4% on all classes and
maturities of rediscounts and member bank notes.
Rebates of unearned discount will be made in accordance with the
provisions outlined on Page 9 of our Letters of Instruction.
Respectfully,
D. C. BIGGS,
Governor.

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