Mr. Cant asked the Chancellorof the Exchequer whether he will state the number of branches established in London by United States banking corporations between the end of 1960 and the latest convenient date, the number of proposals to establish such bank branches which are at present registered, and the growth of deposits held by such branch banks between those dates.
§ Mr. Harold LeverNine branches have been established since 1960. Proposals to open such branches do not have to be registered and I cannot, therefore, give the number of United States banks which may be considering coming to London. Three banks have, however, announced in the Press their intention to open branches shortly. Deposits held by all United States banks in London including dollar deposits increased from £389 million in 1960 to £3,927 million at the end of March this year.