Hostname: page-component-848d4c4894-m9kch Total loading time: 0 Render date: 2024-05-17T18:28:25.969Z Has data issue: false hasContentIssue false
  • English
  • Français

Controlling Household Credit

Published online by Cambridge University Press:  26 March 2020

Jon Shields
Get access Rights & Permissions [Opens in a new window]

Extract

It is often postulated that the reintroduction of credit controls would be neither effective nor politically possible. Major changes have been implemented over the last eight years both in the way that financial markets work (domestically and internationally) and in the conduct of monetary policy. Controls over either the size of the balance sheets of financial institutions or the terms under which customers can obtain loans would seem to run totally counter to these developments. Does this rule them out completely?

Type
Articles
Information
National Institute Economic Review , Volume 125 , August 1988 , pp. 46 - 55
Copyright
Copyright © 1988 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

(1) For an overall assessment of how the ‘corset’ scheme influenced the financial system, see ‘The supplementary special deposits scheme’, Bank of England Quarterly Bulletin, vol.22, no.1, March 1982.

(2) The phraseology of guidance provided by the Govornor of the Bank of England and the Chancellor of the Exchequer is explored in the Radcliffe Report: Report of the Committee on the Workings of the Monetary System, Cmnd.827, paras.399-426, HMSO, 1959.

(3) See Radcliffe Report, op. cit., paras.381-98.

(4) See, for example, p.248 of Dow, J.C.R. (1964), The Management of the British Economy 1945-60, Cambridge University Press.

(5) Estimates of the liabilities of the personal sector are shown in tables 14.4, 9.3 and 6.2 of Financial Statistics, CSO.

(6) Holmans, A.E. (1986), ‘Flows of funds associated with house purchase for owner occupation in the United Kingdom 1977-1984 and equity withdrawal from house purchase finance’, Government Economic Service Working Paper no.92.

(7) The Banker, May 1988, and Moody's Structured Finance, June 1988.

(8) See ‘Survey of building society mortgage lending’, Building Societies' Bulletin, April 1987 and April 1988.