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Tuesday, 16 August 1960

At 30th June, 1960, Commonwealth Inscribed Stock and Bonds maturing in Australia in 1960-61 totalled £337,203,000. Details are as follows:-


Commonwealth Registered Stock maturing in London in 1960-61 totalled £Stg.34,504,000 at 30th June, 1960, made up as follows: -


However, the first of these London maturities has been fully provided for by cash and conversion loan issued on 28th July in which the 3 per cent. securities were replaced by 6 per cent. securities maturing on 1st December, 1977-80.

In addition to redemptions of any of the abovementioned maturing securities, redemptions of overdue securities and War Savings Certificates and Savings Certificates will have to be financed in 1960-61. There will also be repayments of £7,563,000 to the International Bank.

The amount required to meet all these commitments is estimated at £80,000,000.

It is estimated that an amount of up to £52,500,000 will be available from the current receipts of the National Debt Sinking Fund towards meeting these commitments. To meet the balance of £27,500,000 it is proposed to utilize some of the balances in that Fund. For this purpose it will be necessary to realize some of the investments held by it.

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