... the transfer provisions in the scheme. The corset was generally a success. In our brief description we saw that the corset was in tended to control the bank systems lending as a whole over the six years of its existence it appeared to have done this. The system was not ever-present after its introduction in 1973. In fact originally it was only in place for little over a year. It was then reinforced in 1976 , for a much shorter time, before its final stint between 1978 and 1980. Over this time the growth if the banks sterling deposits were kept , in the majority, within the targeted zones. However there is some debate as to whether the banks would have chosen this rate of growth regardless of the presence of the penalties. This is illustrated by the fact that when the corset was first imposed the demand for bank ...

See this essay or coursework document in full right now