§ Mr. WALLACEasked the Chancellor of the Exchequer whether the funds of the special investment department of savings banks may be invested in War Stock and National War Bonds?
Mr. CHAMBERLAINUnder the provisions of the Trustee Savings. Banks Act, 1918, funds of special investment departments of savings banks must be invested in securities repayable not later than one year, or, if in Government securities not later than three years, from the date of investment. No National War Bonds yet fall within this category, but the five year bonds of the first series will do so very shortly.