Abstract
This chapter aims to reconcile what may seem to be inconsistencies in the policies adopted by the Bank of England during the interwar period. There was official approval for new banking institutions that competed directly with the merchant banks, while at the same time there were attempts to control the activities of the larger clearing banks . A rationale for this approach will be provided.
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O’Sullivan, B. (2018). Traditional Preserves. In: From Crisis to Crisis. Palgrave Studies in the History of Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-96698-4_5
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