Building Associations

Charles R. Geisst

Chapter 4 in A Guide to Financial Institutions, 1993, pp 70-86 from Palgrave Macmillan

Abstract: Abstract The title of this chapter is something of a hybrid; it reflects a joint, coined name to describe British building societies and their American counterparts, savings and loan associations (S&Ls). These institutions have a common function within their respective economies that has not changed substantially in the last hundred years - both channel savers’ funds into the mortgage or real estate market. And while this purpose may have begun to vary due to current monetary deregulation and financial innovation, building associations have carved out a large, almost monopolistic niche in the financial services sector which will probably remain entrenched, despite increasing competition from the commercial banks.

Keywords: Interest Rate; Real Estate Market; Mortgage Loan; Building Society; Federal Deposit Insurance Corporation (search for similar items in EconPapers)
Date: 1993
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DOI: 10.1057/9780230379077_5

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