DUNEDIN.
This day. Sank Agreements. It is uuderstood that the following arrangements hare been agreed upon by all the banks trading in New Zealand, and will come into operation forthwith :— Discount rates, under 95 days, 8 per cent.; under 125 days, 9 per cent. For longer periods there are no quotations given. For deposits the maximum rates are :—For three months, 5 per cent. ; six months, 6-per cent.; and for twelve months, 6| per cent. The minimum rate for overdraft is settled at 10 per cent. It is also understood that the banks in Australia will enter into a similar arrangement, though maximum and minimum rates may be sjightly different. The banks in London have raised their rates of exchange on the colonies 1 per cent.
all round on the 13th December, and an endeavor is being made to check the wholesale drawing against speculative consignments, which may probably take the form of declining to negotiate drafts unless under special authority from the
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Bibliographic details
Thames Star, Volume X, Issue 3130, 28 February 1879, Page 2
Word Count
163DUNEDIN. Thames Star, Volume X, Issue 3130, 28 February 1879, Page 2
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