OVERDRAFTS BARRED
ENGLhSH BANKS AFFECTED. BY FRENCH REGULATION. Australian and N.Z. Cable Association. (Received March 23, 5.5 p.m.) LONDON, March 21. The “Daily Express” says a sensation has been caused in financial circles by the Paris banks' treatment of English banks of the highest reputation. The English banks maintain accounts with the Paris banks, and the accounts sometimes are overdrawn. Ordinarily the French banks have simply charged interest on such accounts, but have allowed their operation to continue. The French Government, in order to support the franc, has stipulated that French hanks must not allow overdrafts on foreigners’ acoounts, even including the English banks’ accounts, thus causing the British banks and their clients much, inconvenience.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZTIM19240324.2.77
Bibliographic details
New Zealand Times, Volume LI, Issue 11786, 24 March 1924, Page 7
Word Count
115OVERDRAFTS BARRED New Zealand Times, Volume LI, Issue 11786, 24 March 1924, Page 7
Using This Item
Stuff Ltd is the copyright owner for the New Zealand Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.