You are looking at 1 - 9 of 9 items

  • Author or Editor: Andrew Campbell x
Clear All Modify Search
You do not have access to this content

Andrew Campbell and Paula Moffatt

You do not have access to this content

Andrew Campbell and Paula Moffatt

The importance of early intervention with regard to a financially troubled institution has long been recognised. The supervisory authorities in the US recognised this early on and have used the concept of ‘prompt corrective action’ for many years. It has repeatedly been demonstrated in banking crises that the failure to act as soon as a problem is discovered generally means that the value of financially distressed banks reduces very quickly and that crises develop when they could have been avoided, or their effects limited. This chapter examines the European response to early intervention following the banking crisis that began just over ten years ago and which affected many European banks. The chapter focuses on the early intervention measures in the Bank Recovery and Resolution Directive which has now come into effect throughout EU.

You do not have access to this content

Catherine Campbell and Andrew Gibbs

You do not have access to this content

Andrew Campbell and Judith M. Dahlgreen

This chapter charts the development of the mutually owned building society in the UK as a means of providing a small and simple range of financial services to consumers in the nineteenth, twentieth and twenty-first centuries. The decline of the size of the sector in the late twentieth century is described, and this is identified as an unforeseen consequence of a small legal change in the Building Societies Act 1986 which permitted conversion of a mutual building society into a registered limited company with a share capital. The large number of consequent conversions and takeovers is noted. A legal change which was motivated by a desire to increase competition for consumers, in fact resulted in a reduction in competition and in the removal from the marketplace of financial services providers who had a simple and distinct product offering and ethos. Some restrictive features of building society legislation are identified and comments are made about the consequent financial stability of these necessarily conservative entities.

This content is available to you

Orkun Akseli, Joanna Gray and Andrew Campbell