THE TRADING BANKS
ADVANCES NOT WITHHELD DEPENDENT ON CUSTOMERS’ DEMANDS (Per United Press Association) WELLINGTON, August 18. In a statement by the Associated Banks to-day it is said that the reported statement of the Prime Minister (Mr Savage) that the banks are taking money out of circulation is not correct. For some years the banks have been both willing and anxious to increase their advances provided satisfactory security is forthcoming. After all. the position largely depends on the demand for advances by customers, and whatever the reasons may be for the lack of interest in advances, unwillingness on the part of the banks to lend was certainly not the cause. As a matter of fact, the reduction in advances and the increase in deposits for the three-monthly period ending June 30 is perfectly normal,Since that date it is evident from the weekly bank statistsas published by the Government Statistician, that advances have increased, while deposits have decreased.
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Otago Daily Times, Issue 22963, 19 August 1936, Page 7
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157THE TRADING BANKS Otago Daily Times, Issue 22963, 19 August 1936, Page 7
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