Building societies face wide review
Friday 24 February 1995
The Government's findings come at a crucial moment in the proposed takeover by Lloyds Bank of Cheltenham & Gloucester and in the merger between Halifax and Leeds Permanent building societies.
C&G is drumming up support among customers for its deal, which requires a high vote in favour. Any shift in legislation governing changes of ownership could have a critical impact.
Sources suggest, however, that these measures are unlikely to be changed. The Government is more likely to change the powers societies have to raise money in the money markets.
An extension of these powers would enable societies to lessen their dependence on deposits for raising funds.
Banks such as Abbey National have launched a campaign calling for more accountability for societies, on the basis that these extensions of their powers make them more like plcs than mutual organisations.
The banks suggest that societies should have to pay a dividend to customers, and that they should extend customer representation on society boards.
- 3 Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
- 4 Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
- 5 How the language you speak changes your view of the world
Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
How the language you speak changes your view of the world
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...