Banking activities have a relatively large share of GDP in the . compared to other countries. In this paper the focus will be on the domestic activities of the banks and non-banks. The latter can be defined as lenders, which have their funding provided by the wholesale money and capital markets, rather than by their own depositors. Many banks in the ., especially in the City of London are involved in cross-border activities, either as currency traders, bond and share traders and/or as risk traders in the derivatives markets. Of course losses are being made as well as gains
