Abstract
Modern thinking tends to deny that banks are unique among financial institutions, but on any showing they form a most important part of the financial system. The banking system is responsible for the main part of the payments mechanism in the economy, and its influence reaches into all corners. The other services which it performs are numerous, and the whole banking mechanism is complex. For these reasons we shall need to devote seven chapters in all to the banking system, including the domestic and international money markets which are so closely tied to it. The present chapter outlines the system as a whole, describing the different kinds of bank and their functions, and then goes on to deal with the Bank of England.
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Further Reading
R. S. Sayers, Modern Banking, 7th ed. (Oxford: Oxford University Press, 1967).
E. Nevin & E. W. Davis, The London Clearing Banks (London: Elek Books, 1970).
Monopolies Commission, Barclays Bank Limited, Lloyds Bank Limited and Martins Bank Limited: A Report on the Proposed Merger (H.M.S.O., 1968).
First Report from the Select Committee on Nationalised Industries: Bank of England (H.M.S.O., 1970).
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© 1973 Jack Revell
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Revell, J. (1973). The Banking System and the Bank of England. In: The British Financial System. Palgrave, London. https://doi.org/10.1007/978-1-349-15512-5_5
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DOI: https://doi.org/10.1007/978-1-349-15512-5_5
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-14925-6
Online ISBN: 978-1-349-15512-5
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