The practice followed since 1838 has been to keep a certain part of the balance at the Bank (of England) and to lend the remainder at interest. The usual method is to lend to certain banks, discount houses, and stock–brokers of high standing, whose names are included in an approved list, now containing sixty–two names. The list is revised periodically, and applications for admission are carefully considered with reference to the standing and resources of the applicants and the nature of their business. Loans to borrowers on the approved list are granted as a rule for periods from three to five weeks, occasionally for six weeks, so that the whole balance could, if needed, be called in within six weeks. The Accountant–General informs the Secretary of State’s broker daily of the amount of loans that may be renewed, the amount of new loans that may be placed, or the amount that must be called. The broker is responsible for obtaining the best possible rate of interest. The amount of a loan is not paid out from the Secretary of State’s account at the Bank of England until the security has been lodged at the Bank. In 1909 it was found that the borrowers on the approved list could not take the full amount of the balances available for loan; and, in order to obtain employment for the funds, the broker was instructed, as a temporary measure, to deposit the excess amount from time to time with leading London banks, usually for periods of between one and three months.