A3 THE INTERNATIONAL ROLE OF THE CITY OF LONDON The City of London has o the greatest concentration of foreign banks in the world .o a banking sector that accounts for the largest share- almost one-fifth of total international bank lending . o one of the world's biggest international insurance markets the world's largest foreign exchange market .o the largest centre in the world for trading overseas equities one of the world s most important financial derivatives markets .o the principal markets for transactions in a large number of commodities .s a comprehensive range of ancillary and support services, including legal, accountancy and management consultancy g s a history of innovation and flexibility, which contributes to London's strength as a financial centreA3 THE INTERNATIONAL ROLE OF THE CITY OF LONDON The City of London has ❖ the greatest concentration of foreign banks in the world. ❖ a banking sector that accounts for the largest share - almost one-fifth - of total international bank lending. ❖ one of the world’s biggest international insurance markets. ❖ the world’s largest foreign exchange market. ❖ the largest centre in the world for trading overseas equities. ❖ one of the world’s most important financial derivatives markets. ❖ the principal markets for transactions in a large number of commodities. ❖ a comprehensive range of ancillary and support services, including legal, accountancy and management consultancy. ❖ a history of innovation and flexibility, which contributes to London’s strength as a financial centre