| Admin History | Following the discovery in 1929 that Sicmat, a Trieste cotton firm had contracted credits in total well beyond its capacity from 50 banking firms (23 in London), pressure was brought on the Accepting Houses Committee (AHC) to set up a register of credits, a system apparently operating in New York at the time. Lack of unanimity, customer confidentiality and the limited value of such information from one centre led to the subject being dropped. Governor Montagu Collet Norman raised the subject again at the 1932 Mansion House dinner with the same result. |