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Capital Issues Committee (C.I.C.)


A non-statutory body that advised the treasury on applications from overseas' borrowers to make issues on the British capital market. After the Second World War and until 1959 the C.I.C. also effectively controlled !arger domestic issues in the interests of general economic policy. The C.I.C. grew out of the Foreign Transactions Advisory Committee set up in the 1930s to control the export of capital. The C.I.C. was disbanded in November ·1967. Sterling fixed interest issues are now subject to permission from the Bank of England, a procedure known as 'The Queue'. The object of this procedure is to con tro I the timing of issues, however, rather than the volume.

Reference: The Penguin Dictionary of Economics, 3rd edt.