GLOBALIZATION

The globalization of banking in particular has paralleled
the globalization of the financial system and growth in
multinational corporation in general.To some extent banking
has always been global.The internationalization of banking
in the post war world has resulted form the push factor
of the following customer.This explanation of the internationalization
of banking fits particularly well with the growth of US banking
overseas.Restriction on interstate impended the growth of bank
and restriction on their funding capacities drove US banks abroad.
The by-product of this expansion was the creation of the Eurodollar
market in the London the most liberally regulated environment at
that time.The pull factor was provided by expansion of US banks
such as Citibank and Bank of America expanded into Europe
with view to holding on to their prime customer.