Finance (eBook)

Front Cover 1
Finance: Financial Data of Banks and Other Institutions 4
Copyright Page 5
Table of Contents 6
Foreword 8
Membership of the Joint Steering Committee 10
Introduction 12
Review No. 37: Financial Data of Banks and Other Institutions 16
REFERENCE DATE OF SOURCES REVIEWED 17
LIST OF ABBREVIATIONS 18
ACKNOWLEDGEMENTS 19
CONTENTS OF REVIEW 37 20
CHAPTER 1. INTRODUCTION 24
1.1 Importance of Statistics on Financial Institutions 24
1.2 Changes in the System of Monetary Control, Banking Supervision and the Structure of Financial Institutions 25
1.3 Definition of the Field 27
1.4 Coverage of Sources 27
1.5 Plan of the Review 28
1.6 Other Source Books 29
CHAPTER 2. ASSETS AND LIABILITIES: MONETARY SECTOR 30
2.1 Composition of the Monetary Sector 30
2.2 Changes in Banking Statistics 37
2.3 The Reporting System 39
2.4 Sources of Statistics 44
CHAPTER 3. ASSETS AND LIABILITIES: FINANCE HOUSES ANDOTHERS 59
3.1 Introduction 59
3.2 Regulation 59
3.3 Method of Compilation 60
3.4 Sources of Statistics 62
CHAPTER 4. ASSETS AND LIABILITIES: BUILDING SOCIETIES 66
4.1 Introduction 66
4.2 Method of Compilation of Statistics 70
4.3 Sources of Statistics 72
CHAPTER 5. INTEREST RATES 76
5.1 Introduction 76
5.2 UK Banks 76
5.3 Finance Houses 78
5.4 Building Societies 78
CHAPTER 6. MONETARY AGGREGATES AND THEIRCOUNTERPARTS 80
6.1 Introduction 80
6.2 Definitions of Monetary Aggregates and their Supply Side Counterparts 81
6.3 Definitions of Liguidity Aggregates 84
6.4 Sources of Statistics 87
CHAPTER 7. HISTORICAL DATA 89
7.1 Introduction 89
7.2 Sources of Historical Data 90
CHAPTER 8. IMPROVEMENTS AND FUTURE DEVELOPMENTS 95
QUICK REFERENCE LIST - TABLE OF CONTENTS 98
QUICK REFERENCE LIST KEY TO PUBLICATIONS 113
BIBLIOGRAPHY 116
LIST OF APPENDICES 118
APPENDIX I 119
APPENDIX II 126
APPENDIX III: FORM BS 128
APPENDIX IV: FORM WI (BS WEEKLY) 135
APPENDIX V: - FORM Ql 140
APPENDIX VI: - FORM Ql (ANNEX) 146
APPENDIX VII: - FORM Q3 149
APPENDIX VIII: - FORM Q6 153
APPENDIX IX: - FORM S5 158
APPENDIX X: - FORMS S1 164
APPENDIX XI: - FORMS S2 186
APPENDIX XII: - SPECIMENS OF BUILDINGSOCIETY STATISTICAL RETURNS 228
APPENDIX XIII: - LIST OF BUILDING SOCIETYRETURNS 1985 237
USEFUL CONTACT POINTS 243
SUBJECT INDEX 246
38: LIFE ASSURANCE AND PENSION 
252 
REFERENCE DATE OF SOURCES REVIEWED 253
LIST OF ABBREVIATIONS 254
ACKNOWLEDGEMENTS 256
CONTENTS OF REVIEW 38 258
CHAPTER 1. OVERVIEW 262
1.1 General 262
1.2 Definition of Field 264
1.3 Coverage of Sources 264
CHAPTER 2. PENSIONS 266
2.1 General 266
2.2 Legal Background 266
2.3 Retirement Age 269
2.4 Tax Structure 269
2.5 State Pensions 271
2.6 Occupational Pensions Board 273
2.7 Preservation 274
2.8 Equal Access and Maternity Leave 275
2.9 Schemes 276
2.10 Sector of Employment 276
2.11 Funded Schemes 278
2.12 Investment Medium 279
2.13 Entry Conditions 279
2.14 Contributions 280
2.15 Benefit Structure 281
2.16 Commutation Options 282
2.17 Pension Payments 283
2.18 Early Retirement 283
2.19 Death Benefits 284
CHAPTER 3. LIFE INSURANCE 287
3.1 Introduction 287
3.2 Legislation 288
3.3 Friendly Societies 291
3.4 Industrial Assurance 292
3.5 Industrial and Provident Societies 292
3.6 Reinsurance Companies 292
3.7 Taxation 293
3.8 Types of Insurance Policy 293
CHAPTER 4. LIFE AND PENSIONS 301
4.1 Introduction 301
4.2 Valuations 301
4.3 Standard Mortality Tables 302
4.4 Investments 304
4.5 Performance 306
4.6 Administration Costs 310
CHAPTER 5. GOVERNMENT STATISTICS 311
5.1 Introduction 311
5.2 Department of Trade and Industry 312
5.3 Inland Revenue 318
5.4 Occupational Pensions Board 320
5.5 Bank of England 321
5.6 Central Statistical Office 322
5.7 Government Actuary's Department 323
5.8 The Office of Population Censuses and Surveys (OPCS) 326
5.9 Department of Employment 327
5.10 Registry of Friendly Societies 329
5.11 Department of the Environment 330
5.12 Department of Health and Social Security (DHSS) 330
CHAPTER 6. PROFESSIONAL AND TRADE ASSOCIATIONS 333
6.1 National Association of Pension Funds 333
6.2 Association of British Insurers 335
6.3 Life Offices' Association 336
6.4 British Insurance Association (BIA) 337
6.5 Institute and Faculty of Actuaries 339
6.6 Institute of Chartered Accountants 341
6.7 The Chartered Institute of Public Finance and Accountancy 342
6.8 Pensions Research Accountants Group (PRAG) 343
6.9 Stock Exchange 347
6.10 Association of Pensioneer Trustees 348
6.11 Pensions Management Institute (PMI) 348
6.12 Society of Investment Analysts 349
CHAPTER 7. PERIODICAL PUBLICATIONS 350
7.1 Daily Newspapers 350
7.2 Periodicals 350
7.3 Rate Guides 352
7.4 Directories 353
7.5 Pension Fund and Insurance Directories 353
7.6 Performance Measurement Services 356
7.7 Abstracting Services 358
7.8 Database Systems 359
CHAPTER 8. ACADEMIC AND OTHER MISCELLANEOUS RESEARCH 360
8.0 Introduction 360
8.1 Employee Participation in the Management of Pension Schemes 360
8.2 Paying for Equalisation - a survey of pension age preferences and their costs 362
8.3 An investigation of unquoted holdings of UK Financial Institutions 363
8.4 A survey of Public Sector and Non-Corporate Pension Funds 1980 363
8.5 Pension Fund Management 1984 364
8.6 Life Insurance and Asset Holding in the United Kingdom 364
8.7 Land Ownership by Public and Semi-Public Institutions in the UK 364
8.8 Financial Institutions, their Investments and Agricultural Landownership 365
8.9 Agricultural Performance Analysis 365
8.10 Inventing Retirement 365
8.11 Equal Treatment in Occupational Pension Schemes 365
8.12 APEX Pensions Survey 1985 366
8.13 Research commissioned by Life Offices 366
CHAPTER 9. DESIRABLE IMPROVEMENTS 368
9.1 General Problems 368
9.2 Segregation of Data 371
9.3 Underwriting Statistics 371
9.4 Investment 373
9.5 Department of Trade and Industry Returns 373
9.6 Marketing Information 375
9.7 Register of Pension Funds 376
9.8 Pension Projections 377
QUICK REFERENCE LIST - TABLE OF CONTENTS 378
QUICK REFERENCE LIST 381
QUICK REFERENCE LIST KEY TO PUBLICATIONS 429
BIBLIOGRAPHY 438
LIST OF APPENDICES 442
APPENDIX 3.1 443
APPENDIX 5.1 444
APPENDIX 5.2 452
APPENDIX 5.3 456
APPENDIX 5.4 464
USEFUL ADDRESSES 496
SUBJECT INDEX 506