BANK ADVANCES.
NO UNWILLINGNESS TO LEND. REPLY TO THE PREMIER. WELLINGTON, This Day. A statement by the Associated Banks, issued to-day, said that Mr Savage’s reported statement that. the banks were taking money out of circulation was not correct. For some years the‘ banks have been both willing and anxious to increase their advances, provided satisfactory sc—curity was forthcoming. After all, the position largely depends on demand for advances by customers. \Vhatcver the reasons may be for the lack of increase in bank advances, unwillingness on the part of the banks to lend was certainly not a cause. As a matter of fact, the reduction in advances and the increase’ in deposits for the three-monthly period ended on June 30 is perfectly normal. Since that date, it is evident from weekly bank statistiCS, as published by the Government- Statistician, that advances have increased while deposits have decreased.
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Ashburton Guardian, Volume 56, Issue 262, 18 August 1936, Page 6
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147BANK ADVANCES. Ashburton Guardian, Volume 56, Issue 262, 18 August 1936, Page 6
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