City of London London borough, a status reserved for the other 32 districts (including London's only other city, the City of Westminster). It is also a separate county of England, being an enclave surrounded by Greater London. It is the smallest county in the United Kingdom. The City of London is widely referred to simply as the City (differentiated from the phrase "the city of London" by capitalising "City") and is also colloquially known as the Square Mile, as it is in area. Both of these terms are also often used as metonyms for the United Kingdom's trading and financial services industries, which
Economy of London firms, insurance companies and reinsurance markets. London is notable as a centre of international finance where foreign participants in financial markets come to deal with one another. It is also home to the Bank of England, the second oldest central bank in the world, and the European Banking Authority, although the latter is moving to Paris in March 2019 following the Brexit referendum of 2016. Other key institutions are Lloyd's of London for insurance, the Baltic Exchange for shipping. A second financial district has developed at Canary Wharf to the east of the City, which includes the global headquarters of