IDEAS home Printed from https://ideas.repec.org/h/pal/palscp/978-3-030-00910-6_3.html
   My bibliography  Save this book chapter

Context, Rationale and Consequences

In: The Regulation of the London Clearing Banks, 1946–1971

Author

Listed:
  • Linda Arch

    (University of Reading)

Abstract

This chapter provides an overview of the economic and industry context within which the London clearing banks operated. It argues that the need to maintain the stability and value of the pound sterling was a key factor in understanding the approach to regulation adopted, rather than the need to minimize the cost of government debt by the policy of financial repression. The chapter evaluates the argument that the nature of bank regulation led to parts of the financial and banking system (such as the euromarkets and the secondary—or fringe—banks) being too lightly, or even unregulated, and that this regulatory neglect contributed to the secondary banking crisis which broke in December 1973. Finally, it explores the regulatory, institutional and structural factors which stabilized banking by acting as counterweights to excessive risk-taking by the clearing banks.

Suggested Citation

  • Linda Arch, 2018. "Context, Rationale and Consequences," Palgrave Studies in Economic History, in: The Regulation of the London Clearing Banks, 1946–1971, chapter 0, pages 61-99, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-00910-6_3
    DOI: 10.1007/978-3-030-00910-6_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palscp:978-3-030-00910-6_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.