Annual Reports - 1947
Confirmation of the reduction in the rate of interest paid on Deposits from 3% to 2% is the first item in the Report of the Committee of Management (after the standard statistical listing) in the Published Report. The 'Bank Rate' at this time was 2%. A reduction in the rate of interest charged on mortgages is given extensive coverage, with particular reference to the method employed - an ex-gratia allowance paid to the mortgagor's deposit account. The Committee reports the extension of the  Safe Deposit facility by the installation of an additional 5,888 safes.
(1) Published Report
Annual Reports
Published  Report (cont.)