An Outline of the European Co Operative Credit Systems
An Outline of the European Co Operative Credit Systems
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In our eReader you can find the full English version of the book. Read An Outline of the European Co Operative Credit Systems Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book An Outline of the European Co Operative Credit Systems
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On December 3ist. , 1910, the aggregate amount of the deposits held by rural banks was 60, 000, 000 francs, (i) In process of time the banks create a capital of their own, formed of the small payments made by the members upon entrance, or upon taking out their first loan.
The loans, which are generally made on the security of bills, are of two kinds. They are either for short periods, not exceeding two years, or for longer periods, extending to as much as ten years. The first kind are ordinaril...y renewed every three months ; the second are repaid by instal- ments. The interest on loans for long periods is slightly higher than the usual rate of interest on loans, which varies between 5 % and 7 per cent. The difference between the interest charged on loans and the interest paid on deposits covers the management expenses and enables a reserve fund to be built up, which, in the event of the dissolution of the society, is devoted to some object of public utility.
The societies enjoy certain exemptions from taxation.
What to read after An Outline of the European Co Operative Credit Systems?
You can find similar books in the "Read Also" column, or choose other free books by International Institute of Agriculture to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
On December 3ist. , 1910, the aggregate amount of the deposits held by rural banks was 60, 000, 000 francs, (i) In process of time the banks create a capital of their own, formed of the small payments made by the members upon entrance, or upon taking out their first loan.
The loans, which are generally made on the security of bills, are of two kinds. They are either for short periods, not exceeding two years, or for longer periods, extending to as much as ten years. The first kind are ordinaril...y renewed every three months ; the second are repaid by instal- ments. The interest on loans for long periods is slightly higher than the usual rate of interest on loans, which varies between 5 % and 7 per cent. The difference between the interest charged on loans and the interest paid on deposits covers the management expenses and enables a reserve fund to be built up, which, in the event of the dissolution of the society, is devoted to some object of public utility.
The societies enjoy certain exemptions from taxation.
What to read after An Outline of the European Co Operative Credit Systems?
You can find similar books in the "Read Also" column, or choose other free books by International Institute of Agriculture to read onlineMoreLess
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