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Clearing Banks

Volume 974: debated on Monday 26 November 1979

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asked the Chancellor of the Exchequer whether he proposes to review the role of the clearing banks in relation to the achievement of money supply targets.

Where relevant, the authorities take account of the special position of the clearing banks within the financial system. Policy designed to achieve the monetary targets applies to banks generally and it is important that all banks should themselves recognise and should persuade their customers of the implications of monetary policy.