Subjects:

Banking and Finance

Contents:

Part 1: The City of London as a financial centre

what is a bank or building society?

Part 2: Regulation of the banking sector

regulation of building societies

banking and the Single European Market.

Part 3: Customers

the bank account

creation of the banker and customer relationship

termination of the banker and customer relationship.

Part 4: Negotiable instruments and the cheque as a bill of exchange

rights and liabilities of the parties to a bill of exchange

cheques on a banker and the protection of the paying and collecting banks

payment by plastic card

credit transfers and direct debits

remedies to recover money.

Part 5: Bank finance

bankers' securities

recovery and bank advances

mortgage finance by building societies for house purchase.

Appendices:

changes to the powers of the Bank of England

the banking code

APACS sample forms.

With the extension of activities by banks and building societies, it is now difficult to demarcate between them. The differences that do still exist are largely due to the historical development of building societies and the purposes for which they were established. Many of the restrictions imposed on building societies have now been removed, but many prefer the freedom afforded to banks and have sought to register themselves under the Banking Act 1987.

This book examines the law relating to banks and building societies, highlighting the differences in the regulation process and activities of the two institutions. It takes a close look at the extent to which they are both governed by the same systems of law, particularly in respect of banker and customer relationships.

Divided into five parts, the book includes coverage of: issues relating to the role of the City of London as a financial centre; the impact of the EU and the creation of a single European market; the law relating to types of customer and contractual implications; methods of payment, including electronic methods and the implications of the transaction of cheques; bank finance and securities, including mortgage finance by building societies for house purcahse.