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This paper aims to present an analysis of the UK bank loans and deposits in tandem, linking the loan-to-deposit (LTD) ratio to macroprudential policy and funding restrictions. LTD ratio is used by micro and macroprudential authorities to address both structural (long-term) and cyclical (short-term) liquidity risks. It is an outcome of several political and economic factors and should be evaluated against this background.

The authors use trend analysis and panel regression to investigate LTD ratio of Major British Banking Groups from 1945 to 2012 in the midst of changing the UK Government policies.

The results show that wholesale funding, government intervention and repression were the major forces behind LTD trends.

The authors recommend the use of LTD as a complement to other liquidity ratios in micro and macro-prudential regulation, particularly in the context of current reforms to banking capital requirements.

This paper aims to consider recent arguments that post-crisis regulatory reform has misunderstood the nature of banks’ activities. These arguments suggest that a bank’s role is not that of intermediation between savers and borrowers but the systemically riskier one of private money creation.

The paper assesses whether banks’ activities are best understood as private money creation rather than intermediation. It considers the argument that regulatory reform has not gone far enough to prevent a recurrence of future credit spirals ending in financial crises.

This paper analyses banks’ activities and finds that it is incorrect to consider that they engage in relatively unfettered money creation. While fractional reserve banking does create flows of money through the economy, these flows are tethered to banks’ funding requirements. Multiple use of that money, rather than representing an ill-understood risk, simply reflects the nature of maturity transformation. This has not been missed in designing the post-crisis regulatory framework. The revised framework contains many features that are not fully recognised by proponents of the money creation critique and goes significantly further than they allow. Once completed, it will address many of the concerns they raise. They are right to call for further consideration of whether the countercyclical features of the new framework are sufficiently developed.

The paper provides an early detailed response to recent criticism of the post-crisis regulatory reform programme coming from a money creation perspective of banks’ role in the economy.

This paper examines the effects of limiting the number of loans a bank can issue, reflecting a policy recently implemented by the US Federal Reserve.

This paper does so in a streamlined model of the banking sector.

This paper finds that a binding limit on loans can enhance welfare by motivating the bank to reduce the number of socially unproductive loans it makes. However, the limit can sometimes reduce welfare by inducing a reduction in the number of socially productive loans the bank issues, the quality of the bank’s loan portfolio, and/or the accuracy with which the bank screens loan opportunities.

The research demonstrates that limits on the loans a bank issues can have subtle and unintended consequences. Consequently, careful thought is warranted before such limits are imposed.

To our knowledge, the existing literature does not provide guidance on the merits of such loan restrictions.

This essay could begin with a discussion of interlibrary loan procedures before the existence of OCLC, but it seems preferable not to recount the miseries of the Dark Ages. Beginning with a discussion of the use of OCLC by interlibrary loan staff before the availability of the Interlibrary Loan Subsystem should provide enough history. The background material is followed by an explanation of the methodology of requesting material by means of the Interlibrary Loan Subsystem. Perceived problems with the use of the subsystem, suggestions regarding the source of those problems, and possible solutions form the remainder of the paper.

Describes the ANT*ILL software system, developed at the University of California, Irvine′s Library, to search incoming OCLC interlibrary loan requests automatically against the local Innovative Interfaces Online Public Access Catalog (III OPAC). There are three steps involved with the ANT*ILL programs: downloading the “pending” file from OCLC via the Internet; searching those downloaded records on the UCI III OPAC to extract the call number and circulation status; and outputing the results. The ANT*ILL programs are written in the Perl programming language and run under the UNIX operating system. Discusses the system′s design, its implementation, and its performance. The ANT*ILL source code is available free of charge.

The purpose of this paper is to provide a review of the literature concerning interlending and document supply and related matters.

The approach is based on the reading of over 150 journals as well as monographs, reports and websites.

Resistance to the Big Deals for journals is still growing – in particular because of the current budget cuts that are hitting libraries badly but publishers remain complacent. Interesting movements on the copyright front as the Hargreaves report in the UK is accepted by the government and the STM Association gets upset. Patron driven acquisition receives a lot of attention in the literature – when will the world outside of the US pay as much attention?

The paper represents a useful source of information for librarians and others interested in document supply and related matters such as resource sharing and open access.

The new economic-policy regime in Sweden in the 1990s included deregulation, central-bank independence, inflation targets and fiscal rules but also active labour market policy and voluntary incomes policy. This chapter describes the content, determinants and performance of the new economic policy in Sweden in a comparative, mainly Nordic, perspective. The new economic-policy regime is explained by the deep recession and budget crisis in the early 1990s, new economic ideas and the power of economic experts. In the 1998–2007 period, Sweden displayed relatively low inflation and high productivity growth, but unemployment was high, especially by national standards. The restrictive monetary policy was responsible for the low inflation, and the dynamic (ICT) sector was decisive for the productivity miracle. Furthermore, productivity increases in the ICT sector largely explains why the Central Bank undershot its inflation target in the late 1990s and early 2000s. The new economic-policy regime in Sweden performed well during the global financial crisis. However, as in other OECD countries, the moderate increase in unemployment was largely attributed to labour hoarding. And the rapid recovery of the Baltic countries made it possible for Sweden to avoid a bank crisis.

This paper aims to investigate the nonlinear effects of bank regulation stringency on bank lending in 23 sub-Saharan African (SSA) countries over the period 1997–2017.

This study employs the dynamic panel threshold regression (PTR) model, which addresses endogeneity and heterogeneity problems within a nonlinear framework. It also uses indices of entry barriers, mixing of banking and commerce restrictions, activity restrictions and capital regulatory requirements from the updated databases of the World Bank's Bank Regulation and Supervision Surveys as measures of bank regulation.

The linearity test results support the existence of nonlinear effects in the relationship between bank lending and entry barriers or capital regulations in the selected SSA economies. The dynamic PTR estimation results reveal that bank lending responds positively when the stringency of entry barriers is below the threshold of 62.8%. However, once the stringency of entry barriers exceeds that threshold level, bank credit reacts negatively and significantly. By contrast, changes in capital regulation stringency do not affect bank lending, either below or above the obtained threshold value of 76.5%.

These results can help policymakers design bank regulatory measures that will promote the resilience and safety of the banking system but at the same time not bring unintended effects to bank lending.

To the best of the authors’ knowledge, this is the first study to examine the nonlinear effects of bank regulatory measures on bank lending using the dynamic PTR model and SSA context.

The purpose of this paper is to present and discuss the results from a survey on interlibrary loan (ILL) in Norwegian public libraries. Work processes within ILL have changed significantly in Norway in recent years, and new challenges have emerged. County libraries, public libraries and The Norwegian Library Association’s Special Interest Group saw the need for a survey to understand how these changes were affecting ILL-work in the public libraries in Norway. The library community as a whole needed updated information to respond to the present challenges in ILL.

In March 2014, Sentio Research Norway conducted a survey on ILL among Norwegian public libraries. The survey was commissioned by the county libraries in Norway. In total, 425 questionnaires were sent to all the main libraries. There are 428 main public libraries, but three of them were without staff at the time of the survey. Further, 336 answers provided a response rate of 79 per cent. The survey had 48 questions.

An interesting result from the survey is that 53 per cent of the public libraries want no restrictions on what to borrow, while 45 per cent believed there should be some restrictions on lending. This shows a difference in the attitudes to lending compared to borrowing library material. However, 58 per cent of the libraries have not implemented restrictions on what to lend on interlibrary loan. One of four had restrictions on lending new literature. The public libraries were, in general, highly interested in better access to curriculum literature from universities and colleges. To some extent, they wanted better access to new literature, e-books and nonfiction (the category was named “special subjects and topics” in the survey). The survey shows that most libraries still prefer to order interlibrary loans for their users rather than encourage users to order themselves.

This study is the first systematic survey of ILL in Norwegian public libraries.