Abstract
Analysing the structure of the British financial system when the industry is in the midst of an uncompleted phase of major structural change and financial innovation as great as any experienced this century, immediately presents major methodological problems. The business of banking is changing in two fundamental ways: (1) banks and other financial institutions have increasingly become multi-product firms encompassing a range of services far wider than the traditional role of asset-liability transformation; in particular fee income and off-balance-sheet business have increased in importance for banks; and (2) the traditional “structured” or specialist basis of the British financial system has given way to a more conglomerate structure which has eroded the traditional distinctions between the major areas of finance.
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© 1990 Kluwer Academic Publishers, Dordrecht
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Llewellyn, D.T. (1990). Competition, Diversification and Structural Change in the British Financial System. In: Fair, D.E., de Boissieu, C. (eds) Financial Institutions in Europe under New Competitive Conditions. Financial and Monetary Policy Studies, vol 20. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-1986-0_11
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DOI: https://doi.org/10.1007/978-94-009-1986-0_11
Publisher Name: Springer, Dordrecht
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