Later Troubles and a Summing-up

Margaret Reid

Chapter 11 in The Secondary Banking Crisis, 1973–75, 1982, pp 138-169 from Palgrave Macmillan

Abstract: Abstract The Bank of England’s acceptance of responsibility for support costs beyond the £1200 m limit set to the combined Lifeboat operation in August 1974 meant that it had itself to shoulder the full burden of dealing with new crises which broke out at individual banking houses later. This proved no light task, for the Bank subsequently mounted two potentially highly costly supporting actions, and took certain other protective measures, before the secondary banking troubles had run their course. The most important was the rescue of Slater Walker Securities (SWS), culminating in the Bank’s take-over of the Slater Walker bank. It is ironic, but perhaps scarcely surprising, that SWS, the best-known of the new financial enterprises in the boom years, should also have figured so prominently in the later crisis period.

Keywords: Total Asset; Stock Exchange; Finance House; Banking Business; Standard Charter (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_11

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DOI: 10.1007/978-1-349-05286-8_11

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