§ Dr. Reginald Bennettasked the Chancellor of the Exchequer what is the present level of Treasury bills outstanding; and whether he is concerned at the build up of reserve assets in this country's banking system.
§ Mr. DellThe total Treasury bills outstanding at the end of June 1975 were £3,573 million. These are the latest figures available. I am certainly conscious of the recent rise in reserve assets in the banking system. But at present the growth of credit is limited by lack of demand. My right hon. Friend the Chancellor of the Exchequer has recently re-emphasised the Government's readiness to use the various methods available to the authorities to influence monetary conditions so as to fit the Government's overall economic policies.
596W