§ Mrs. Ann Taylorasked the Chancellor of the Exchequer what has been the total estimated value each year of the five sterling money markets since the date of their respective creations.
§ Mr. DellThe liabilities outstanding of the five sterling money markets since 1962 are given in the table below. The earliest figures available for the inter-bank market are those for 1962; the first sterling certificates of deposit were issued 713W in October 1968. The figures for the finance house market from 1972 onwards
LIABILITIES OUTSTANDING (on 31st December unless stated) £million Inter-bank market* Markets in sterling certificates of deposit * Discount market Discount houses borrowed funds Finance market Finance house deposits† Local authority market Local authority temporary debt‡ End— 1962 … 131 — 1,186 337 1,142 1963 … 229 — 1,232 390 1,349 1964 … 266 — 1,205 494 1,712 1965 … 366 — 1,381 654 1,740 1966 … 484 — 1,484 648 1,728 1967 … 736 — 1,662 591 1,854 1968 … 1,059 165 1,573 612 1,870 1969 … 1,483 442 1,725 636 1,896 1970 … 1,694 1,089 2,259 688 1,879 1971 … 2,200 2,242 2,961 823 1,973 1972 … 4,573 4,926 2,530 437 2,408 1973 … 7,694 5,983 2,437 477 3,368 1974 … 8,582 4,318 2,821 459 3,925 *Pre-1971on 31st December. 1971–74 second Wednesday in December. †Includes some Foreign currency deposits. ‡Excludes inter-authority debt. Sources:
Inter-bank market; Market in sterling certificates of deposit—Bank of England Statistical Abstract. Discount market—Bank of England Statistical Abstract and Bank of England Quarterly Bulletin. Finance market; Local authority market—Financial Statistics.