Royal British Bank
The Royal British Bank was a British
The bank's main founders were
After press articles alleging substantial losses appeared in 1856, the share price dropped and in September 1856 the bank suspended operations after experiencing a run, leaving 6,000 depositors owed money.[2]: 704
It then became apparent that various directors and former directors had taken substantial sums from the bank, though most of the directors in post at the time of the collapse had not done so.[2]: 715–716
The eight surviving directors—among them
The collapse gave rise to a new legislation tightening banking regulation, including the publication of balance sheets and the auditing of accounts.[1]
See also
References
- ^ a b Economist, 22 June 2013 p. 29
- ^ JSTOR 4493899. Retrieved 21 April 2022 – via JSTOR.
- ^ Annual Register 1858. Longmans Green and Co. 1859. pp. 330–339. Retrieved 2 March 2008.
- doi:10.1093/ref:odnb/17521. (Subscription or UK public library membershiprequired.)
Further reading
- Antonio, Robert J. (2003). Marx and Modernity. Wiley-Blackwell. p. 170. ISBN 978-0-631-22550-8. Retrieved 29 August 2008.
- The Times, Monday, 1 March 1858; p. 9; Issue 22929; col B
- The Times, Monday, 5 July 1858; p. 5; Issue 22890; col F
| International | |
|---|---|
| National | |
 | This United Kingdom bank or insurance-related article is a stub. You can help Wikipedia by expanding it. |