| Description | Further reports of talks with clearers on advances; Banks urge reduction of nationalised industries' borrowing limits. Committee of London Clearing Bankers (CLCB) letter to 'The Times' on restriction of advances; Chancellor's statement on credit restriction; HM Treasury (HMT) guidance to Capital Issues Committee (CIC) and instructions by clearers to their managers; Clearers' views expressed to HMT on Chancellor's statement, urging control on Government spending; Bank's position in maintaining 'squeeze' and advising reduction in local authority financing; credit squeeze assessment, December 1955. |