Competition and credit control (CCC) was a monetary policy operated by the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of ...

from September 1971 until the autumn of 1973. Under this policy the bank sought to control money supply indirectly through open market operations, instead of through the direct lending ceilings imposed on individual banks used formerly. Reserve Asset Ratios were imposed on all financial institutions where formerly cash and liquidity rations had applied to major clearing banks only. In practice, sterling money supply increased rapidly following introduction. At the end of 1973, the Supplementary Special Deposit Scheme re-established direct controls on lending.

References

1971 introductions 1973 disestablishments in England Banking in the United Kingdom {{UK-stub