THE RESERVE BANK
EXTENSION OF POWERS (From Our Parliamentary Reporter) WELLINGTON, Oct. 7. Further extensions to the powers of the Reserve Bank are proposed in the second Finance Bill of the session, which was introduced in the House of Representatives to-day. The section of the Reserve Bank Amendment Act passed early in the session enabling the bank to grant accommodation to the Treasury to the extent of the full amount of the revenue or the. estimated revenue is widened to apply to any incorporated department of the or to any local authority or public body. Previously the bank could grant to the Treasury only up to half of the estimated revenue. The provision in this year's amending Act authorising the bank to underwrite Government loans is extended so that the bank may underwrite loans raised by the State Advances Corporation.
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Otago Daily Times, Issue 23006, 8 October 1936, Page 17
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140THE RESERVE BANK Otago Daily Times, Issue 23006, 8 October 1936, Page 17
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