This report, published for the Building Societies Association (BSA), reveals a strong case for converting failed banks into mutual organisations. In light of the report, the BSA urges the Government to consider seriously returning Northern Rock bank to the mutual sector.

The report, by the Centre for Mutual and Employee-owned Business at the University of Oxford, concludes that there are three economic arguments for a stronger mutual sector as part of a mixed financial system: ‘bio-diversity’, risk appetite and competition.

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