The UK banking system” atm dumps with pin

Central Bank system The numerous functions performed by the Bank of England can be divided into two groups: 1. group direct professional responsibilities arising from banking status (deposit, lending, settlement and issuing operations); 2. group controlling functions, through which the state intervenes in the monetary system, trying to influence the course of economic processes. The whole set of functions is designed to achieve three main objectives. Among them are: 1. To support the value of the national currency, mainly through market operations agreed with the government, in other words, the implementation of monetary policy; 2. To ensure the stability of the financial system through direct control of banks and financial market participants of the City and to ensure a sustainable and efficient payment system; 3. To ensure and improve the efficiency and competitiveness of the financial system within the country and to strengthen the position of the City of London as the leading m

Functions of the Bank of England: 1. The Bank of England serves as a bank for commercial banks 2. The Bank of England serves as a bank for other central banks 3. The Bank of England serves as a bank for government 4. Implementation of monetary policy. The Bank of England advises on policy methods and is responsible for implementing them. 5. Carrying out the issue of banknotes 6. Carrying out foreign exchange operations and controls, managing the country’s foreign reserves on behalf of the Treasury. 7. Supervision of credit institutions, foreign exchange and credit markets- generally the banking system. 8. Bank of England member of the European Monetary Institute

The second tier of the British banking system is commercial banks and financial companies. The commercial banking system is highly differentiated. It is governed by the principle of special banks. In doing so there are 2 tendencies. On the one hand, specialisation is an attempt to accommodate banks to changes in money supply and demand. On the other hand, there is a tendency for the largest commercial banks and savings banks to expand their operations abroad. It is not easy to group British banks together. The Bank of England divides commercial banks operating in England into 3 groups: 1. Deposit banks (retail ) or main street banks ; 2. Record houses; 3. Acceptance houses, foreign banks, other banks.

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The British banking system is a classic version of a two-tier system and is among the oldest and most developed systems in the world. It has a well-organized and extensive financial infrastructure and is backed by a strong money market in the City of London, which has close links to the world’s major financial centers. A major trend in the development of the UK banking system is the blurring of boundaries between individual types of credit institutions.

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Copyright (C) 2006 stanton

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