Dr. Bennettasked the Chancellor of the Exchequer by what authority Lloyds Bank has been deprived of half the interest due on its special deposits, in view of the fact that it is within the lending ceiling ordered by the Bank of England.
§ Mr. Harold LeverThe reduction in the rate of interest on their special deposits was reluctantly accepted by the London clearing banks, and it was agreed that the reduction should be the same for all of them. The question of authority does not therefore arise.