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British Multinational Banking, 1830-1990$
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Geoffrey Jones

Print publication date: 1995

Print ISBN-13: 9780198206026

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198206026.001.0001

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The British Government, the Bank of England, and Multinational Banking

The British Government, the Bank of England, and Multinational Banking

Chapter:
(p.223) CHAPTER 7 The British Government, the Bank of England, and Multinational Banking
Source:
British Multinational Banking, 1830-1990
Author(s):

Geoffrey Jones

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198206026.003.0007

This chapter talks about the overall assessment of the public policy impact on British multinational banks. The Bank of England played a major role in helping British multinational banks prevent any major crisis and in crisis management. However, the Bank of England's opposition to the clearing banks' entry into multinational banking generated the most negative adverse consequences of all the official policies. The competitive advantages held by British multinational banks eventually declined and the political and economic environment became unstable, and the Bank of England cannot predict the world economy. Moreover, the fall of the Anglo-South made the situation worse whereby the changed ownership was not translated into a more effective relationship between overseas and domestic banking.

Keywords:   public policy, Bank of England, crisis management, competitive advantage, world economy, Anglo-South

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