Abstract

This chapter reviews some of the more important recent developments in U.K. banking law. The term “U.K. banking law” needs some explanation. It covers a wide range of legal territory that affects banks and their businesses. There is a U.K. Banking Act,1 but it is primarily concerned with the regulation of deposit taking by the central bank, that is, the Bank of England. There are, of course, many other statutes that impinge on banking business, although there is no “commercial banking law” of the type found in some countries, which circumscribes the business that commercial banks may carry on. In the tradition of the common law, much of the English law of banking is judge made. Finally, although many statutes apply to the whole country, the Scottish system in particular differs from that of England, both in ethos and in derivation.