TRADING BANK OPERATIONS UNDER SUPERVISION?
_ . GISBORNE, Nov. 5. Busmessmen have been surprised to learn_ m ihe past \vo days that finance propositions submitted to trading banks are no longer dealt with on the personal basis to which they were accustomed. They have been informed that except for a very narrow field of ordinary business finance, the trading banks' operations are under the close supervision of the Reserve Bank, and almost all applications for overdrafts must be approved by the Reserve Bank. There are to be no advances for any form of speculation, including_ advances for the purchase of properties for investment. Normal business loans on goods in transit through trade channels are not affected by the newr regulations. Bankers are not prepared to discuss the'instructions as the circulars on the Reserve Bank policy were under confidential seal. |
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19471105.2.26
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Chronicle (Levin), 5 November 1947, Page 5
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137TRADING BANK OPERATIONS UNDER SUPERVISION? Chronicle (Levin), 5 November 1947, Page 5
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