TAPPING THE WORLD’S CAPITAL MARKETS
ONE FORECAST OF BUILDING societies’ future wholesale funding requirements suggests that, by 1990, their total worldwide capital market borrowings will have increased tenfold to over 60 billion pounds.
It is an extreme forecast, based on assumptions of an annual compounded growth rate of 15% over the next four years — taking the industry’s total assets beyond 240 billion pounds — and a rise from 6% to 25% in the average level of their wholesale balances.
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