Notice issued by the Bank of England on 11th April 1967.
The Chancellor of the Exchequer, in his Budget statement, said that it was still necessary to keep the growth of credit within modest bounds. He went on to say that the present ceiling on lending to the private sector would be discontinued forthwith for the clearing and Scottish banks, and discontinued for other banks and the finance houses as and when suitable new arrangements had been worked out. This notice sets out the present intentions about bank advances, and other similar forms of credit; and restates the guidance that the banks and some other groups of financial institutions have received regarding the direction of lending.
Published on
01 June 1967
Credit restraint in 1967-68