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Wednesday, 26 March 1941


Senator McBRIDE - The Treasurer has supplied the following answer: -

The discount rate is fixed in consultation between the Commonwealth Bank and the Treasurer. The usual currency of the bills is three months.


Senator DARCEY asked the Minister representing the Treasurer, upon notice -

Isit a fact that Australian banks can convert their holdings of treasury-bills into Commonwealth notes on demand?


Senator McBRIDE - The Treasurer has supplied the following answer: -

Commonwealth treasury-bills are rediscounted by the Commonwealth Bank at any time at rates fixed by the Commonwealth Bank when the application for rediscount is made.


Senator DARCEY asked the Minister representing the Treasurer, upon notice -

Is it a fact that Australian bankers reduced the interest rate on treasury-bills from £1 15s. per cent, to £1 10s. per cent, as from June last?


Senator McBRIDE - The Treasurer has supplied the following answer: -

The discount rate on treasury-bills in Australia was reduced from13/4 per cent, to11/2 per cent, on the 1st May, 1940.







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