Mr. De la Bèreasked the Chancellor of the Exchequer the total amount of Treasury deposit receipts which have been issued since their inception up to 31st January, 1942, and the amount outstanding on that date, together with the amounts which have been converted into 2½ and 3 per cent. Government securities?
§ Sir K. WoodUp to the 31st January, 1942, Treasury deposit receipts had been issued to the total amount of £1,904,000,000. On that date the amount outstanding was £764,500,000, £225,000,000 had been converted into Government securities carrying 2½ per cent. interest and £46,000,000 into Government securities carrying 3 per cent. interest.
Mr. De la Bèreasked the Chancellor of the Exchequer whether, in connection with the calls which are made on the banks for the provision of Treasury deposit receipts, he can state the proportions that are called for from the London clearing and Scottish banks and the Empire banks, respectively; and whether there is any regulation providing for an agreed percentage?
§ Sir K. WoodThe division of the total amount called from the various parties is arranged from time to time through the Bank of England with the institutions concerned. There is no regulation providing for an agreed percentage.