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Treasury Deposit Receipts

Volume 414: debated on Thursday 18 October 1945

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asked the Chancellor of the Exchequer why the Co-operative Wholesale Society is not subject to the same rules and regulations regarding Treasury deposit receipts as other banks.

Treasury deposit receipts are one of the means whereby the main deposit banks in the London market re-lend to the Government the additional deposits directly resulting from the excess of Government expenditure over revenue. It has, therefore, been thought appropriate to confine the arrangement to those particular banks.