The largest bank in the country is the National Savings Bank which accepts current account as well as savings deposits for fixed periods of six months to five years or under a scheme which allows withdrawal without notice only in the first week of each quarter and uses its resources in industry and housing loans as well as in the purchase of government bonds and debentures. Private savings banks operate similarly to the National Savings Bank except that the bulk of their deposits are at less than two years' notice. Largest of the public and semi-public agencies is the SNCI which, during the 1930s, took over many assets from the lossridden banking system and subsequently acted as an investment bank borrowing with bond issues and making medium and long-term loans to industry. Owned half by the state and half by private shareholders, the interest on its bonds is tax-free and the principal is state-guaranteed. It ranks as the fifth largest bank after the National Savings Bank and the big three commercial banks.