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Author: | Lyon, S. |
Title: | Settling down. |
Journal: | Banker
1987 : NOV, VOL. 137:741, p. 61-70,73-75,78,83,87-92,95-112 |
Index terms: | FOREIGN BANKS FINANCIAL CENTRES UNITED KINGDOM |
Language: | eng |
Abstract: | The number of foreign banks in London has stabilized. A total of 453 foreign banks are represented by branches, representative offices, subsidiaries or joint ventures - just one more than a year before. In sharp contrast, 13 new securities houses moved in, seven of them Japanese. The number of employees in foreign banks has increased by 34% from 1986 to 1987. The 1987 Banking Act abolished the distinction between recognized banks and licensed deposit-takers. As a consequence, lots of foreign banks have reorganized their structures. |
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