level of bank capital is. We use empirical evidence on UK banks to assess costs; we use data from shocks to incomes from a …

degree of centralisation. Whereas no such bank exists in the UK any longer and real savings banks in Spain have almost …. Short operational and (especially) functional distance and embeddedness in supportive regional bank associations. Short … regional level and reduce the need for standardisation, centralisation and bank mergers in times when interest rates are low. …