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Substantially revised and updated, this fourth edition of The UK financial system presents a comprehensive explanation of the workings of the institutions and markets which make up the UK financial system, and discusses the issues affecting them. It presents key theoretical developments such as asymmetric information, the efficient markets hypothesis, behavioral economics and the term structure of interest rates, thus providing an analytical framework to aid understanding of the institutional structure. Several case studies are provided throughout the book looking at the failure of various...

This book provides an up-to-date discussion of the UK financial system and the changes affecting it. The Twenty First Century has witnessed a sea-change in regulation of the financial system following the financial crisis of 20078. Prior to the financial crisis in 20078 the official policy was directed to deregulating the financial system, whereas post 2008 the move is towards increased regulation. This caused changes in the nature and behaviour of the institutions and the regulatory authorities, with the result that existing texts quickly become dated. The aim of this book is to bring the...