The authorities operated Competition and Credit Control unchanged for barely two years before the introduction, in 1973–4, of significant modifications to the mechanism of control. For the discount houses the changes involved abandonment of their 50 per cent public-sector ratio, while for the banks a supplementary credit-control scheme was devised whereby pressure would be exerted on the liabilities, rather than the assets, side of their balance sheets.
KeywordsInterest Rate Money Market Secondary Market Bank Lending Treasury Bill
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- 18.R. J. Truptil, British Banks and the London Money Market (London, 1936) pp. 112–13. There were also eight firms of running brokers.Google Scholar