HC Deb 15 October 1968 vol 770 cc65-7W
Sir C. Osborne

asked the Chancellor of the Exchequer which 10 countries have guaranteed the 2,000 million dollars Basle standby; how much each country has guaranteed, respectively; and whether the interest rates and repayments conditions are the same in all cases.

Mr. Roy Jenkins

The names of the countries participating in the agreement to provide the 2,000 million dollars standby are given in the White Paper pre-

ascertain what moneys are in the possession of disaster relief funds started prior to 1st January 1949, the purposes of which have now become redundant.

Mr. Taverne

The moneys in the possession of charitable disaster funds started prior to 1st January 1949 are as follows:

sented yesterday; I am not able to give the details of each country's obligations. Drawings will be made only from the B.I.S., to which interest will be paid and repayments made: the levels of interest rates will depend on the current rates ruling in international centres.

Sir C. Osborne

asked the Chancellor of the Exchequer what rate of interest per annum was paid recently on sterling balances held in London; and what rate of interest he has agreed to pay on the $2,000 million Basle standby, in the event of its being used to repay sterling balances.

Mr. Roy Jenkins

The sterling balances comprise a wide variety of accounts, some of which do not bear interest. The average rate of interest paid in the year ended last June was about 5 per cent. on net balances excluding non-interest-bearing notes.

The rates to be paid on drawings under the $2,000 million Basle credit will depend on the current rates ruling in international centres.