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Tuesday, 22 November 1960

Mr HAROLD HOLT - We indicated broadly the classes of activities in respect of which the trading banks should require the higher rate to be paid by their clients. Those activities did not include cooperative housing. The rate in a particular class of case will vary, perhaps, from one bank to another. We certainly do not require the banks to impose what might be interpreted as a punitive or deterrent rate in respect of co-operative housing.

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