Abstract
This chapter can be really defined as ‘historic’, because of the great changes that have affected the British banking system after the 1980s. Even if no gap can be found in the evolution — institutional, structural, operational — of the system (‘historia non facit saltus’), it’s undeniable that the present configuration bears only a thin resemblance to the previous morphology, legislation, functions. At the same time, this retrospective view of the banking and financial industry, also in its interactions with public policy issues and cultural frameworks then prevailing, is useful in order to put in focus the situation of today, and to understand better the most recent turmoil and its possible (not necessary) outcomes.
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Notes
See for example: R. Sayers, Modern Banking, Oxford University Press, 1967;
J. Revell, The British Financial System, Macmillan, 1973;
and J. Cooper, The Management and Regulation of Banks, Macmillan, 1984.
D.T. Llewellyn, The Evolution of the British Financial System, The Institute of Bankers, 1985, p. 10.
P. Cottrell, ‘The Financial System of the United Kingdom in the Twentieth Century’, in L. De Rosa (ed.); International Banking and Financial Systems, Ashgate, 2003, pp. 52–56.
M. Collins, Money and Banking in the UK: A History, Croom Helm, 1988, p. 369.
J. Reid, The Role of the Merchant Banks Today, The Institute of Bankers, 1963.
R. Sayers: The Bank of England 1891–1944, Cambridge University Press, 1976, vol. 1, p. 235.
M.J.B. Hall, ‘Secondary banking crisis’, in P. Newman, M. Milgate, J. Eatwell (eds), The New Palgrave Dictionary of Money and Finance, Macmillan, 1992, p. 408.
See M. Clarke, Regulating the City: Competition, Scandal and Reform, Open University Press, 1986, p. 36.
M. Reid, The Secondary Banking Crisis, 1973–75. Its Causes and Course, Macmillan, 1982, p. 190.
I. Morison, P. Tillett and J. Welch, Banking Act 1979, Butterworths, 1979, p. 17.
HM Treasury, Report to the Committee Set Up To Consider the System of Banking Supervision HMSO, 1985, p. 4.
R. Roberts and D. Kynaston, City State, Profile Books, 2002, pp. 93–5.
D.T. Llewellyn, ‘Competition and Structural Change in the British Financial System’, in E.P.M. Gardener (ed.), The Future of Financial Systems and Services, Macmillan, 1990, p. 18.
L.C.B. Gower, Review of Investor Protection: Report, part 2, 1985.
A. Alcock, The FSMA 2000. A Guide to the New Law, Jordan, 2000, pp. 6–7.
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© 2009 Carlo Gola and Alessandro Roselli
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Gola, C., Roselli, A. (2009). The Structure of the Banking System Between the 1960s and the 1980s. In: The UK Banking System and Its Regulatory and Supervisory Framework. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230235779_1
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DOI: https://doi.org/10.1057/9780230235779_1
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