Conclusions

John Grady and Martin Weale
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Martin Weale: Department of Applied Economics and Clare College

Chapter 9 in British Banking, 1960–85, 1986, pp 195-205 from Palgrave Macmillan

Abstract: Abstract By 1960 most controls which had remained after the Second World War had been relaxed or abolished. But, after a brief period of freedom between 1958 and 1960, controls on the clearing banks were tightened during the 1960s. The traditional system of monetary management relied on the requirement that clearing banks held as cash or deposits with the Bank of England 8 per cent of their deposit liabilities, and that they held another 22 per cent of their deposits as specified liquid assets. Administered interest rates were rigidly linked to the bank rate, and under such a system the Bank of England was able to impose both desired administered rates and a target stock of money on the economy (Keynes, 1931).1

Keywords: Banking System; Money Market; Banking Crisis; Building Society; Prudential Regulation (search for similar items in EconPapers)
Date: 1986
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DOI: 10.1007/978-1-349-07535-5_10

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