The future of building societies a central bankers view - Governors speech

Quarterly Bulletin 1983 Q2
Published on 01 June 1983

The Governor notes the greatly increased competition that building societies have faced in the last five years and the ways they have successfully responded to it. He considers some implications of these responses, and of various new ideas for further development, particularly as they affect societies' capital and management resources.

Some ideas for further innovation would require legislation. A measure of greater flexibility would be appropriate, but the societies should consider fully the consequences of these changes that might bear on their public image, legal status, fiscal treatment and arrangements for prudential supervision.

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