The Public Duties and Social Responsibilities of Big British Banks

Abstract

The implicit social compact between the big British banks and the U.K. government broke down in the 1980s. Since then, the banks have sought to maximize shareholder value by closing less profitable branches, thereby reducing access to finance and increasing risk taking. Post-1990, the big banks also substantially increased their dependency on wholesale funding and dramatically reduced their liquid asset holdings, which increased their leverage and risk exposure. The U.K. government's response to the financial crisis was to encourage mergers between banks, increasing concentration in the industry. The government bail-outs allowed the big banks to enjoy free insurance paid by taxpayers. The establishment of an autonomous retail banking (and insurance) utility regulator and a system for taxing the big banks fairly is recommended.

Estudo sobre a Responsabilidade Social Corporativa e as Reclamações Pertinentes às Ouvidorias dos bancos, considerando o porte e o tipo de controle no Brasil

“…Na Inglaterra, por exemplo, o regulador recomenda aos bancos o tratamento justo a clientes e a usuários de serviços (MULLINEUX, 2011). No Brasil, o Edital de audiência pública 41/2012, de 13 de junho de 2012, informa que a implementação de uma política de responsabilidade socioambiental implica o atendimento às diretrizes e aos objetivos relacionados a diversos aspectos, dentre eles o relacionamento com clientes e usuários (BCB, 2012a).…”