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London and Paris as International Financial Centres in the Twentieth Century$
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Youssef Cassis and Eric Bussière

Print publication date: 2005

Print ISBN-13: 9780199269495

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199269495.001.0001

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London as an International Banking Center, 1950–1980

London as an International Banking Center, 1950–1980

(p.247) 12 London as an International Banking Center, 1950–1980
London and Paris as International Financial Centres in the Twentieth Century

Mae Baker

Michale Collins

Oxford University Press

The late 1950s and early 1960s marked the beginning of a period of important structural change and innovation within British banking. After the war, of course, the City's fortune was far from assured — with the UK's relative economic weakness, the weak international financial legacy from sterling's experience in the 1930s and during the Second World War, and the continued unfavourably restrictive international financial environment facing City institutions. This chapter examines the re-emergence of London as an international banking centre by focusing on the rapid growth of foreign banks locating in the City in the 1950s, 1960s, and 1970s, and the consequent competition they posed for British banks.

Keywords:   banking sector, foreign banks, money markets, Eurodollar market, British banking

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