Since 1987 there have been a number of important changes in UK banking law, especially with respect to banking supervision, credit provision, secured transactions, and the bank's position as a fiduciary agent and constructive trustee. To respond to these changes, the authors have revised and expanded the text of this highly regarded volume. Throughout the book, UK banking law is discussed in the context of its economic function as well as the general legal principles which underpin the special rules of banking law. In the wake of the spectacular bank failures of the late 1980s and early 1990s which are examined in detail, the need for a book of this kind remains strong. This is the most up-to-date and comprehensive specialized book on the topic and is ideal for both the novice and the experienced banking lawyer.