§ 49. Mr. Edelmanasked the Chancellor of the Exchequer whether he is aware that certain banks are charging their customers a commitment fee of 1 per cent. over and above the agreed rate of 5½ per cent. interest for advances covered by Export Credits Guarantee Department guarantee; and, in view of the fact that these extra charges, in addition to the increased fee for work involved in setting up the facility, are a handicap to intending exporters, whether he will request banks to co-operate with his department by not making these supplementary charges.
§ Mr. MacDermotI am aware that the banks generally charge a commitment fee for business of this sort. The amount of these charges is a matter between the banks and their customers, but I am sure that the banks will understand the importance of keeping their charges as well as their interest rates for exporters to a minimum.