Unsound Practices

Brian O’Sullivan ()
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Brian O’Sullivan: King’s College London

Chapter Chapter 6 in From Crisis to Crisis, 2018, pp 163-188 from Palgrave Macmillan

Abstract: Abstract This chapter examines the response of merchant banks to growing international competition especially from New York as it became London’s chief rival in international banking. It will be shown that the rise of the US dollar acceptance brought unsound practices into the international money markets that were most likely adopted by the merchant banks, developing high-risk strategies to deal with increasing competitive pressures.

Keywords: New York; US dollar acceptance; Federal Reserve; Reimbursement credit; International competition; Bill on London (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-319-96698-4_6

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DOI: 10.1007/978-3-319-96698-4_6

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