Banking, an Industry of Confidence

W. Blackman
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W. Blackman: The University of Calgary

Chapter 2 in Swiss Banking in an International Context, 1989, pp 28-53 from Palgrave Macmillan

Abstract: Abstract From the outset of their experience, banks have depended upon a relationship between themselves and their customers which is entirely unique. Like the patient and his physician, the customers trust their banks to an extent unequalled in any other industry or government. Yet, there exists no contractual arrangement to warrant such a high degree of trust. A bank account is really no more than a mutual agreement between customer and banker to the effect that payments will be transmitted by the banker on the customer’s behalf, and that cash (in whatever form) may be returned to the customer when he so wishes.

Keywords: Interest Rate; Banking System; Money Supply; Marginal Product; Swiss Franc (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10656-1_2

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DOI: 10.1007/978-1-349-10656-1_2

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