UK and US Banking: Similarities and Differences

David Rogers

Chapter Chapter 2 in The Big Four British Banks, 1999, pp 15-26 from Palgrave Macmillan

Abstract: 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.

Keywords: Financial Service; Investment Banking; Bank Failure; Community Bank; Universal Banking (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-27760-5_2

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DOI: 10.1007/978-1-349-27760-5_2

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