London discount market (Record no. 7034)

MARC details
000 -LEADER
fixed length control field 02626nam a2200181Ia 4500
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20220519155236.0
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 200202s9999 xx 000 0 und d
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.84 SCA
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Scammell, W. M.
245 #0 - TITLE STATEMENT
Title London discount market
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Elek Books
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 1968
300 ## - PHYSICAL DESCRIPTION
Extent 269 p.
520 ## - SUMMARY, ETC.
Summary, etc. This work is the most important contribution in recent years to a subject on which lerle has been witten. It is an admirably clear study of the workings of the London discount market nd in relation to the British banking system, with which it is very closely liked.<br/><br/>The market itself is dominated by twelve discount houses which deal in short-term assets of varying liquidity. By acquiring bille of different kinds at an early stage in their term and reselling them towards maturity, the houses fulfil two important functions they create a market and establish prices for bills, and they hold these assets during the period of their existence when they are least attractive to the banks and other financial institutions. Although the individual transactions do not yield great profits to the discount houses, the turnover is enormous on average Lasom. a day and this makes the system economically viable.<br/><br/>The book consists of three sections, the first of which is an introduction. The second deals with the theory of centralised banking, an understanding of which is essential to grasp the significance of the market's rôle; and with the day-to-day routine of the discount houses nd the way in which they are organised.<br/><br/>Pacy is a summary of the history of the market from its beginnings in the early nineteenth century to the present day. Every aspect of it is taken into account and each of the influencing factors is briefly discussed. The Bank of England plays a very large part in the history of the market-indeed, it is by the Bank's grace that the discount houses are able to continue business-and the pattern of this role is clearly outlined in this section of the book. Professor Scammell finishes by indicating the future trend of the discount houses: the range of activity will probably grow faster than in the last few years. This is because the market's business has undergone a subtle but important change since its inception a point which emerges clearly in the concluding chapter and it has now become, largely through the Bank of England, a medium through which public finance is administered, whereas formerly it was a private market dealing mainly in commercial bills and bonds.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Discount market-Great Britain-London
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Books
Source of classification or shelving scheme Dewey Decimal Classification
Holdings
Withdrawn status Lost status Damaged status Not for loan Home library Current library Date acquired Source of acquisition Total checkouts Full call number Barcode Date last seen Price effective from Koha item type
  Not Missing Not Damaged   Gandhi Smriti Library Gandhi Smriti Library 2020-02-02 MSR   332.84 SCA 7694 2020-02-02 2020-02-02 Books

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