Central London by the statue of King Charles I at the junction of the Strand, Whitehall and Cockspur Street, just south of Trafalgar Square. The London Plan defines the "Central Activities Zone" policy area, which comprises the City of London, most of Westminster and the inner parts of Camden, Islington, Hackney, Tower Hamlets, Southwark, Lambeth, Kensington & Chelsea and Wandsworth. It is described as "a unique cluster of vitally important activities including central government offices, headquarters and embassies, the largest concentration of London's financial and business services sector and the offices of trade, professional bodies, institutions, associations, communications, publishing, advertising and the
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