First Half Foreign Exchange Income* Reported By Britian's Clearing Banks
BANKS
Bank
1st Half '90
1st Half '89
PC Change
Year '89
Barclays
73
73
0.0%
172
Lloyds
(1)42
46
-8.7%
95
Natwest
(2)67
56
19.6%
162
Midland
(3)80
60
33.3%
134
(1) In 1989, foreign exchange broker fees were included in expenses whereas in 1990 these fees were deducted from income shown above.
(2) Accounting policy for 1990 was changed so that FX funding gains/losses of overseas subsidiaries are no longer credited to foreign exchange revenues. The results for the first half of 1989 are before a funding gain of 22 million
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