Here is the synopsis of our sample research paper on The Way Banking Strategies Have Changed in Response to Legislation in the UK. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 9 page paper examines the way in which UK banks have changed and adapted their strategies to meet the challenges presented by different legislation and regulations. The paper looks at the developments starting from the 1970's and uses examples to illustrate points raised. The bibliography cites 7 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEbankleg.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
as legislation has allowed mutual building societies to become banks and changes have eroded many of the protective barriers that we in place. However, the policy of legislation towards increased
competition has also opened many opportunities, there have been an increasing number of mergers, such as that seen between Lloyds and TSB and also acquisition as seen when Lloyds purchased
Scottish Widows, the insurance company. The industry is one that is changing, and this change along with the strategy that is shaping that change is made within and in response
to legislation. With the banking industry highly regulated legislation cannot fail to impact on banking strategy. The real change began when there was a review of the 1986 rules
governing building societies (Smith, 1994). Buildings, which were regulated as mutual societies were competing directly with banks, but they had greater restrictions on their wholesale funding limits that restrict the
way they could compete with banks on the savings and mortgage markets (Smith, 1994). At this time there were few competitive pressures on banks. The way they competed
was effectually as an oligopoly, with few companies within the market each of which held a large market share. This was also a growing market, for example in 1979 only
38% of the population had a current account. By 2002 this had increased to 93% and is still increasing (BBA, 2004). This concentration of banks has seen the strategies
of increase bank charges due to little effective competition. For example, in 1994 the top five banks controlled 57% of the market (Hoggarth et al, n.d). The building societies
were not able to compete effectively as they were unable to give current accounts and the oligopoly saw an almost tacit agreement between the banks for similar strategies for charging
...