It applies to all institutions likely to operate genuine current account overdrafts.
There overdrafts are to some extent excluded but not ordinary loans on current account.
They looked askance at some of the work of the banks and at overdrafts.
A small agricultural engineering business had an overdraft of £7,000 at the bank.
In any case, the convenience and cheapness of the overdraft system is one of the most valued services a bank can offer to its customers.
The price slumped and the reward for many growers for all their hard work to feed the nation was an overdraft at the bank.
In 1953, the use of overdrafts to avoid tax on remittances of overseas income was stopped.
Those guarantees will be withdrawn as soon as this money is made available, and the overdraft borrowing covered by that will be repaid.
