Foreign Banks

Most have only the one office in or near the City of London. A small number of North American and Western European banks have had a London office since before World War II, in some cases since the nineteenth century, but for the most part these foreign banks are comparative newcomers. Most arrived during the 1960s and 1970s.

Table 1. Foreign Banks: Abridged Balance Sheet. 30 September 1991 (£m)

Sterling Liabilities
Deposits: UK banks	32.922
other United Kingdom	41.426
overseas	44.127
CDs & other short-term paper	24.030
Foreign Currency Liabilities
Deposits: UK banks	62,218
other United Kingdom	44.064
overseas	408.298
CDs & other short-term paper	58.758
Items in suspense and transmission, capital and other funds (sterling and other currencies)	20,892
Total Liabilities	736,736
Sterling Assets
Notes, coins and balances with Bank of England (including cash-ratio deposits)
Market loans: UK banks and discount houses	30.368
UK bank CDs	6,582
UK local authorities
overseas	17,004
Bills
Advances: United Kingdom	80,457
overseas	8,944
Investments	7,625
Other Currency Assets
Market loans and advances: UK banks (including CDs)	65,868
other United Kingdom	64,444
overseas	396,843
Bills and investments	45,073
Miscellaneous (sterling and other currencies)	12,424
Total Assets	736,736
Acceptances outstanding	14,657
Eligible liabilities	102.163

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