HC Deb 10 June 1974 vol 874 cc418-9W
Mr. Cant

asked the Chancellor of the Exchequer whether he will direct the Bank of England to impose stricter controls on the issue of, and particularly forward dealing in, sterling certificates of deposit, in view of the contribution made by these activities to fringe bank difficulties.

Mr. Dell

No. Fringe banks are not permitted to issue certificates of deposit and I am aware of no evidence that dealings in such certificates have been a major cause of the difficulties of these banks in the last few months.