Instr-77a-GCC

With effect from April 1960, credits for the accounts of BMB depositors (eg monthly salary credits), originating from other banks, were received via a system set-up by the Committee of London Clearing Bankers. As a non-clearing bank, the BMB was advised of the impact of the new system by a Notice Issued by the Committee of London Clearing Bankers.

The TSB Clearing Centre, of which the Birmingham Municipal Bank was a member, commenced operation on Monday, May 3rd 1965. A Memorandum was issued to all member banks and was read by BMB staff in conjunction with the above Branch Instruction No 77. Head Office issued letters to branches on the same subject.

A Head Office letter detailing an aspect of how branches should handle discrepances is reproduced below.