FINANCIAL NOTES
EASIER FOREIGN LENDING.
SIR JOHN SIMON'S announcement of last Tuesday goes a long way towards relaxing the Treasury control of foreign lending and gives corresponding pleasure in the City. It has been decided to give greater latitude to British borrowers, who wish to raise long term money for developing enterprises abroad, and to (Continued on page 206.)
FINANCIAL NOTES
(Continued from page 204)
proposals for the purchase of large blocks of foreign-owned securities. Transactions of this type still require the assent of Lord Kennet's Foreign Transactions Advisory Committee, but they will receive much more sympathetic consideration. Loans on behalf of foreign Governments and foreign public authorities are not included in the relaxation, but Sir John Simon explained that regard will be had to the general policy of the Government. Certainly the strength of the sterling exchange justifies a relaxation of control. Probably the decision will bring a certain amount of additional material to the new issue market.
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