Charters, corporations and codes: entry restriction in modern banking law
AbstractThis paper examines the evolution of the legal foundation under which commercial banks operated in different countries. The earliest incorporated banks were established under charters issued by sovereigns or legislatures. Subsequently, charters were issued: (1) though corporation law; or (2) via special banking codes. Countries that concentrated their note issues in central banks earlier were less in need of detailed banking codes and were, therefore, more likely to have allowed banks to operate under general corporation laws. By contrast, countries in which note issue was not centralised were more likely to have established a detailed banking code.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Financial History Review.
Volume (Year): 8 (2001)
Issue (Month): 02 (October)
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- Richard S. Grossman & Masami Imai, 2011. "Contingent Capital and Bank Risk-Taking among British Banks before World War I," Wesleyan Economics Working Papers 2011-003, Wesleyan University, Department of Economics.
- Richard S. Grossman, 2006. "The Emergence of Central Banks and Banking Regulation in Comparative Perspective," Wesleyan Economics Working Papers 2006-021, Wesleyan University, Department of Economics.
- Joke Mooij, 2004. "Corporate Culture of Central Banks: Lessons from the Past," DNB Working Papers, Netherlands Central Bank, Research Department 006, Netherlands Central Bank, Research Department.
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