The City of London and its role as a financial centre

Banking and Financial Institutions/Reference Services, Central Office of Information, London. 3. Angela Fiddles, The City of London (the historic square mile). 4. Talking Points on Britains Economy/October 1999, December 1999. 5. Банковское дело, выпуск №12, 1998г. Appendix :

Table 1 . Net Overseas Earnings of Britains Financial Institutions

Million PoundsBanks6,188Securities Dealers1,658Commodity traders. Bullion dealers and export houses. 556Money Market Brokers112Insurance Institutions5,952Pension Funds2,044Unit trusts724Investment Trusts383Fund Managers425Baltic Exchange292Lloyds Register of Shipping57Finance Leasing40Non-specified institutions1,962Total20,393 Table 2. Notes in circulation.

Value of notes in circulation end February 1996 (million)No of notes issued by denomination in year to end February1996 (million) 1 pound56-5 pounds1,06733610 pounds5,68857520 pounds8,57932650 pounds3,10443Other notes1,154-Total19,6481,280 Source : Bank of England.

Table 3. Major British Banks 1995. Assets Liabilities (Mln pounds)Market Capital (Mln pounds)StaffBranchesCash dispensers and ATMsAbbey National97,61410,76516,3006781,267Bank of Scotland34,1044,09511,300411463Barclays164,18418,40761,2002,0503,020Lloyds TSB131,75025,49666,4002,8584,346Midland92,09339,65843,4001,7012,282National Westminster166,34713,54861,0002,2152,998Royal Bank of Scotland50,4974,75019,5006871,009Standard Chartered38,9347,7571,1001- Figure 1. Major Banks lending to British Residents December 1995.

Table 4. Largest Building Societies. Rank by Group AssetsRank After Flotations and Mergers in 1977Group Assets (million pounds)1. Halifax.-98,6552. Nationwide.135,7423.Woolwich-28,0054. Alliance & Leicester-22,8465. Bradford & Bingley215,6586. Britannia314,9167.National & Provincial-14,1338.Northern Rock-11,5599.Bristrol & West-8,58910. Birmingham Mdshires46,72511. Yorkshire 56,41212.Portman63,51313.Coventry73,37914.Skipton83,037 Table 5. Overseas Banks in Britain (Main Countries Represented). Country of originBranches of an Overseas BankBritish Incorporated Subsidiary of an Overseas Bank Representative officesOtherTotalFrance16823-47Germany1954-28Italy15128-44Japan28615453Switzerland9217-28United States23911649Other countries153411117312Total2637220917561Source: Bank of England.

Table 6. General and Long-term Insurance Business 1985 - 1995.

General Insurance net premiums.

Table 7. Growth in Unit Trusts and Investment Trusts.

Definitions. Assets - anything owned by an individual, company, legal body or government which has a cash value.Big Bang -a system of major changes which brought deregulation to the London Stock Exchange in 1986. Bill of Exchange - an officially signed promise to pay to the receiver of the bill, the stated at the fixed time. Bond - a certificate issued by the borrower as a receipt for a loan usually longer than 12 months; it indicates the interest rate and the date of repayment. Eurobond-an international certificate issued by the borrower for a long-term loan (from 5 to 15 years) in any European currency but not in the currency of the issuing bank.Securities-general term for stocks and shares of all types.Exchange-a market for the toll purchase of goods or securities. Stock Exchange-a market for short or long term transactions in securities . Commodity Exchange-a stable market for wholesale transactions in preferably commodities and raw materialsMoney Market-a market for money instruments with a period of validity of less than one year. Factoring- a business activity in which a company takes over the responsibility for collecting the debts of another company. Fund Management- managing investors funds on their behalf or advising investors on how to invest their funds. Financial Futures-legal contracts for the sale or purchase of financial products on a specified future date, at the price agreed in the present.Option-A contract giving the right to buy or sell financial instruments or goods for a stated period at a stated price.The London Bullion Market -The international gold and silver market in London where trade is done by a telephone or electronic links.HedgeThe purchase or sale futures contract as a temporary substitute for a transaction to be made at a later date Open-Ended Fund-A fund without a fixed number of shares Quite-edged loans -Loans issued on behalf of the Government to fund its spending.