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Erschienen in:
Financial Services and the UK Economy Kapitel lesen Erstes Kapitel lesen

2016 | OriginalPaper | Buchkapitel

2. A Brief History of Building Societies

verfasst von : Barbara Casu, Andrew Gall

Erschienen in: Building Societies in the Financial Services Industry

Verlag: Palgrave Macmillan UK

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Abstract

This chapter begins by recounting some of the main points in the building society sector’s development, then adds to the historical account by describing some of the more recent changes to arrive at the shape we have today. We focus in particular on the demutualisation process that saw the largest building societies becoming banks. We then assess the impact of the financial crisis on the sector; we analyse the consolidation process that took place as larger and more sound building societies took over troubled ones. The sector required little direct government support during the crisis, with the exception of the failure of the Dunfermline Building Society (DBS) in 2009.

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Vorheriges Kapitel Financial Services and the UK Economy
Nächstes Kapitel Legislation, Regulation, and Governance of Building Societies
Fußnoten
1
Under the Special Resolution Regime, there was no direct loan to FSCS, unlike the calls on the FSCS in 2008 relating to B&B and the Icelandic banks. Instead, the FSCS was liable for any shortfall from the recovery of Dunfermline assets that did not cover the government’s funding which had been applicable to insured deposits. A fixed 4.5 % rate of interest was charged on the notional loan.
 
Literatur
APPG. (2006). Windfalls or shortfalls? The true cost of demutualisation. Short inquiry. All Party Parliamentary Group for Building Societies and Financial Mutuals. March.
Ayadi, R., Llewellyn, D., & Schmidt, R. (2010a). Investigating diversity in European banking: The role of cooperative banks. Centre for European Policy Studies.
Ayadi, R., Llewellyn, D., Schmidt, R.H., Arbak, E., & de Groen, W.P. (2010b). Investigating diversity in the banking sector in Europe: Key developments, performance and role of cooperative banks. Brussels: Centre for European Policy Studies Banking and Finance, No. 28.
Bank of England. (2010). Financial stability report. December 2010.
Boleat, M. (1981). The building society industry. Routledge, London.
Cleary, E. J. (1965). The building society movement. London: Elek.
Coles, A. (2013). 30 years… and counting, BSA yearbook 2013/14. Building Societies Association.
Haldane, A., & May, R. (2011). Systemic risk in banking ecosystems. Nature, 469, 351–355.CrossRef
House of Commons Papers. (2009). Fifth report, Dunfermline building society. House of Commons, Scottish Affairs Committee. Stationery Office Books (30 July 2009).
Jarrett, T. (2010). Taxpayer direct support to banks. House of Commons Library.
Michie, J., & Oughton, C. (2013). Investigating diversity in financial services markets: A divesity index. Centre for Financial and Management Studies Discussion Paper Series.
Shiwakoti, R. (2005). Building societies’ demutualisation and managerial private interest. Kent Business School Working Paper.
Metadaten
Titel
A Brief History of Building Societies
verfasst von
Barbara Casu
Andrew Gall
Copyright-Jahr
2016
Buch
Building Societies in the Financial Services Industry

Print ISBN: 978-1-137-60207-7

Electronic ISBN: 978-1-137-60208-4

Copyright-Jahr: 2016

DOI
https://doi.org/10.1057/978-1-137-60208-4_2