The article provides an overview of the UK financial system, including the evolution of markets and financial intermediaries. It discusses how banks create deposits, the services they offer, and the role of the central bank in regulation. The study also explores recent trends in banking, such as money markets and international banking. Additionally, it touches on European financial services and the impact of large banks up to 1992. The Eurocurrency markets and international banking are also examined in the context of the European community.