August 17, 2007
To: All Member Banks and Others Concerned in the Third Federal Reserve District
Attention: All Depository Institutions
Subject: Supplement No. 1 to Operating Circular No. 10 - Rate Schedule
Effective August 17, 2007, this Bank has established the following new schedule of rates for credit extended to eligible borrowers under the Federal Reserve Act, as amended, and Regulation A of the Board of Governors of the Federal Reserve System:
(1) for short-term primary credit under Section 201.4 (a) of Regulation A
(2) for short-term secondary credit under Section 201.4 (b) of Regulation A
(3) for seasonal credit under Section 201.4 (c) of Regulation A:
A flexible rate that takes into account rates charged on market sources of funds is ordinarily established on the first business day of each two-week Reserve Maintenance Period.
This circular supersedes Supplement No. 1 to Operating Circular No.10 revised June 29, 2006 and should be placed in your binder containing the operating circulars of this Bank.