Multinational banking encompasses cross-border activities like currency trading, lending, and trade financing. It has grown with banks following clients abroad and taking advantage of certain markets. Banks establish foreign operations through various structures depending on host regulations. The main drivers of multinational banking are defensive expansion to retain clients abroad, comparative advantages in producing banking products, and large capital bases enabling broader services. International finance has centered in the UK and US, with the dollar dominating. The Euromarkets and foreign bond markets provide significant cross-border financing.