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UK and US Banking: Similarities and Differences

In: The Big Four British Banks

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  • David Rogers

Abstract

I argued in Chapter 1 that the banking industry worldwide has evolved since the 1960s from a protected, cartel-like state to one subject to continued competitive threat. This parallels the evolution of financial services more broadly, from a condition of segmentation in which sharp market boundaries separated investment banking, commercial banking, insurance, home mortgages and asset management to one in which each was diversifying onto the others’ territory.1 The driving forces behind these changes — globalization, the rise of capital markets, new technology, lowered entry barriers, and a consequent disintermediation of banks — have proceeded on a transnational basis, forcing banks in all countries of the world to adapt.

Suggested Citation

  • David Rogers, 1999. "UK and US Banking: Similarities and Differences," Palgrave Macmillan Books, in: The Big Four British Banks, chapter 0, pages 15-26, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-27760-5_2
    DOI: 10.1007/978-1-349-27760-5_2
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