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- W69458875 abstract "This chapter provides an overview on the Bank of England. The United Kingdom banking system is seen as a four-layer cake. The top layer is a nationalized central bank, the Bank of England. Below this are three other layers—the recognized banks and other authorized deposit takers, and a few exempt institutions. It is one of the functions of the Bank of England to supervise the banking system in the general interests of the nation, and to do so it was empowered by the Banking Act 1979 to designate particular institutions as either recognized banks or licensed deposit-takers. The latter might not include the word bank in their names, for the fear of misleading the public. These arrangements were disliked and were largely repealed by the Banking Act 1987. However this Act, continues the restrictions on the use of banking names and banking descriptions, if anything more precisely than the 1979 Act, which reflects the freer arrangements in the financial area since 1979, and the consequent increased chances of undesirable activities. Each class of institution has its part to play in the intricate network of activities of United Kingdom banking." @default.
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- W69458875 date "1987-01-01" @default.
- W69458875 modified "2023-09-27" @default.
- W69458875 title "The British banking system 1: the Bank of England" @default.
- W69458875 doi "https://doi.org/10.1016/b978-0-434-98611-8.50013-9" @default.
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