BRITISH BANKS
CHANCELLOR REVIEWS POSITION <British Official Wireless) RUGBY, Feb. 4. (Received Feb. 5, at 11 p.m.) The Chancellor of the. Exchequer (Sir Kingsley Wood), replying to a question in. the House of Commons, said the published accounts, of the five leading banks did not enable him to state precisely the amounts lent by them direct to the Government since the beginning of the war, but the following figures would give some indication of the sums involved—in the period from August, 1939, to December, 1940, the deposits of the five leading banks increased by £473,000,000, which, together with decreases in advances of £59,000.000. increased their liquid assets by £532.000,000 cash. Balances, money at call and the like, and cheques in the course of circulation increased by £130.000,000. and the balance of £402.000.000 was accounted for by an increase of £262.000,000 in bills discounted—consisting almost exclusively of Treasury bills and Treasury deposits—and a large increase of £142,000,000 in investments —almost exclusively in Government securities.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19410206.2.73
Bibliographic details
Otago Daily Times, Issue 24525, 6 February 1941, Page 7
Word Count
163BRITISH BANKS Otago Daily Times, Issue 24525, 6 February 1941, Page 7
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.