October 8, 2008
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 October 8, 2008 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 May 1, 2008 and should be placed in your binder containing the operating circulars of this Bank.