to meet the stated conditions.
Although the London Club is not entirely a British entity the title speaks
for the significance of the city of London.
The world-wide network of British banks is not directly represented on
Russian market. Operations available are carried out only through the
branches of British banks based in other cities of the world.
Conclusions.
1. Although historically the heart of the financial services sector in
Britain was located in the “Square Mile” of the City of London, and this
is broadly the case now, financial institutions have moved outside the
area all over the country.
2. The City of London is concentration of British financial power which
makes London an angle of the New York-Tokyo-London triangular.
3. Though Great Britain is still a leading industrialized nation and a
member of G7 group it real power and international influence centers
around its financial activities.
Reference list.
1.David McDowall, Britain in close-up/Longman Singapore Publishers Pte Ltd.
2.Britain’s 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 Britain’s Economy/October 1999, December 1999.
5. Банковское дело, выпуск №12, 1998г.
Appendix :
Table 1 .
Net Overseas Earnings of Britain’s Financial Institutions
| |Million |
| |Pounds |
|Banks |6,188 |
|Securities Dealers |1,658 |
|Commodity traders. Bullion dealers |556 |
|and export houses. | |
|Money Market Brokers |112 |
|Insurance Institutions |5,952 |
|Pension Funds |2,044 |
|Unit trusts |724 |
|Investment Trusts |383 |
|Fund Managers |425 |
|Baltic Exchange |292 |
|Lloyd’s Register of Shipping |57 |
|Finance Leasing |40 |
|Non-specified institutions |1,962 |
|Total |20,393 |
Table 2.
Notes in circulation.
| |Value of notes in |No of notes issued by |
| |circulation end February |denomination in year to end|
| |1996 (million) |February1996 (million) |
|1 pound |56 |- |
|5 pounds |1,067 |336 |
|10 pounds|5,688 |575 |
|20 pounds|8,579 |326 |
|50 pounds|3,104 |43 |
|Other |1,154 |- |
|notes | | |
|Total |19,648 |1,280 |
Source : Bank of England.
Table 3.
Major British Banks 1995.
| |Assets |Market |Staff|Branches |Cash |
| |Liabilities|Capital | | |dispensers |
| |(Mln |(Mln | | |and ATMs |
| |pounds) |pounds) | | | |
|Abbey |97,614 |10,765 |16,30|678 |1,267 |
|National | | |0 | | |
|Bank of |34,104 |4,095 |11,30|411 |463 |
|Scotland | | |0 | | |
|Barclays |164,184 |18,407 |61,20|2,050 |3,020 |
| | | |0 | | |
|Lloyds TSB |131,750 |25,496 |66,40|2,858 |4,346 |
| | | |0 | | |
|Midland |92,093 |39,658 |43,40|1,701 |2,282 |
| | | |0 | | |
|National |166,347 |13,548 |61,00|2,215 |2,998 |
|Westminster| | |0 | | |
|Royal Bank |50,497 |4,750 |19,50|687 |1,009 |
|of Scotland| | |0 | | |
|Standard |38,934 |7,757 |1,100|1 |- |
|Chartered | | | | | |
Figure 1.
Major Banks lending to British Residents December 1995.
[pic]
Table 4.
Largest Building Societies.
|Rank by Group |Rank After Flotations |Group Assets (million|
|Assets |and Mergers in 1977 |pounds) |
|1. Halifax. |- |98,655 |
|2. Nationwide. |1 |35,742 |
|3.Woolwich |- |28,005 |
|4. Alliance & |- |22,846 |
|Leicester | | |
|5. Bradford & |2 |15,658 |
|Bingley | | |
|6. Britannia |3 |14,916 |
|7.National & |- |14,133 |
|Provincial | | |
|8.Northern Rock |- |11,559 |
|9.Bristrol & West|- |8,589 |
|10. Birmingham |4 |6,725 |
|Mdshires | | |
|11. Yorkshire |5 |6,412 |
|12.Portman |6 |3,513 |
|13.Coventry |7 |3,379 |
|14.Skipton |8 |3,037 |
Table 5.
Overseas Banks in Britain
(Main Countries Represented).
|Country of |Branches of|British |Represen|Other|Tota|
|origin |an Overseas|Incorporated |tative | |l |
| |Bank |Subsidiary of an |offices | | |
| | |Overseas Bank | | | |
|France |16 |8 |23 |- |47 |
|Germany |19 |5 |4 |- |28 |
|Italy |15 |1 |28 |- |44 |
|Japan |28 |6 |15 |4 |53 |
|Switzerland |9 |2 |17 |- |28 |
|United |23 |9 |11 |6 |49 |
|States | | | | | |
|Other |153 |41 |111 |7 |312 |
|countries | | | | | |
|Total |263 |72 |209 |17 |561 |
Source: Bank of England.
Table 6.
General and Long-term Insurance Business 1985 - 1995.
[pic]
General Insurance net premiums.
[pic]
Table 7.
Growth in Unit Trusts and Investment Trusts.
[pic]
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 |an officially signed promise to pay to the |
|Exchange - |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 |a market for short or long term transactions in |
|Exchange- |securities . |
|Commodity |a stable market for wholesale transactions in |
|Exchange- |preferably commodities and raw materials |
|Money 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 |managing investors’ funds on their behalf or |
|Management- |advising investors on how to invest their funds. |
|Financial |legal contracts for the sale or purchase of |
|Futures- |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 |The international gold and silver market in London|
|Bullion Market|where trade is done by a telephone or electronic |
|- |links. |
|Hedge |The purchase or sale futures contract as a |
| |temporary substitute for a transaction to be made |
| |at a later date |
|Open-Ended |A fund without a fixed number of shares |
|Fund- | |
|Quite-edged |Loans issued on behalf of the Government to fund |
|loans - |its spending. |
