Appraisal and Conclusions

Margaret Reid

Chapter 14 in The Secondary Banking Crisis, 1973–75, 1982, pp 190-200 from Palgrave Macmillan

Abstract: Abstract The Bank of England put aside a remarkable total of about £100 m for the possible cost to itself of the whole rescue strategy, while the clearing banks may still face a bill of up to perhaps £50 m, also already provided for in their accounts, for their own participation in the Lifeboat operation. These possible losses —as distinct from the much larger support lending, which was mostly ultimately repaid — show the magnitude of the burden the support operations may involve for those who conducted them. The fact that the central bank, a state-owned body, accepted responsibility for potential losses of such a scale, with a resultant drop in its payments to the nation’s Exchequer, alone makes the measures taken to deal with the secondary bank crisis a matter of major public interest.

Keywords: Central Bank; Accounting Standard; Money Market; Large Bank; European Economic Community (search for similar items in EconPapers)
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05286-8_14

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DOI: 10.1007/978-1-349-05286-8_14

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