Description: In this analysis of the banking sector, Andrew Whitworth argues that the regulatory impulse of policy makers since the financial crash has inevitably led to greater instability. He shows that the political response to change regulation influences the nature of banks as much as their behavior.
Brief description:
Andrew Whitworth is a senior fintech specialist at the Bank of England.
Review Quotes: Succinctly and expertly, Whitworth builds a case in which regulatory changes (often initiated as part of a political process) change what a bank is. His argument is very powerful. The reader is treated to an exceptionally well-researched and well-written discourse on key events in British banking history. The scope of the analysis is impressive and leaves no doubt that the task of regulating banks in a competitive international system, while ensuring financial stability in the face of political and geopolitical pressures, is challenging though fundamental to the success of the financial sector and the wider economy.--Jonathan Williams, Professor of Banking and Finance, Bangor University