Building Societies

Margaret Rothwell and Paul Jowett
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Paul Jowett: Monitor Company

Chapter 4 in Rivalry in Retail Financial Services, 1988, pp 99-117 from Palgrave Macmillan

Abstract: Abstract The United Kingdom’s retail financial services system is experiencing unprecedented change. Before the war the financial structure was clearly dominated by the banks, and although other types of institutions had been developing throughout the previous century and longer, their effects on financial conditions were considered to be insignificant and accordingly were not even given a passing mention in the Macmillan Report of 1931. By the time of the Radcliffe Report in 1959, the increasing variety of institutions had been acknowledged, but the report still spoke of ‘faults’ in the geological sense, which were difficult for borrowers to cross. In 1980 the Wilson Report stressed the growth of non-bank institutions and drew attention to financial diversification which was leading to the erosion of traditional demarcation lines — in particular to the increasing dissolution of the boundaries between banks and building societies.

Keywords: Financial Time; Building Society; Mortgage Lending; Retail Bank; Sunday Time (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09655-8_4

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DOI: 10.1007/978-1-349-09655-8_4

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