New York, Sept. 27, Implementing the easy money policy, the Federal Reserve Bagtd today announced revised liberalized versions of its rule covering discounts and advances to Federal Reserve Member Banks, which will/come into effect as from October 1.
The most significant change for business and industry was permission for the re-discount of instalment paper drawn for financing of sales of a commercial character.
For the first time in history, the "federal Reserve Board made instalment paper eligible for re-discount.
Bankers are of the opinion that the revision aims at a more permanent policy.—Reuter, New York, Sept. 27.
Governors of
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