After the Battle of Hastings in 1066 the Normans tried to take The City of London but were unable to cross the Bridge & take the City.

After months of stalemate, the Normans made a deal with the Aldermen for the city to remain an independent city-state.

Which it is to this day

From the fall of the Roman Empire to the Napoleonic period there were hundreds of "Free Cities" around Europe which allowed freedom to Merchants to trade

The City of London is the last remaining & longest-running of these cities, that's why its the base for international banking

The "Liberties and Customs" of the City of London which entitles the City to administer its own affairs through the Court of Aldermen ARE the ONLY clauses from the Magna Carta which have remained in statute in English law.

Thus The City is INDEPENDENT from the United Kingdom

You will notice that the seat of the British Monarchy & the British Parliament (once English) are NOT located in the historic City of London but in Westminster which was built by the Normans bc they did not have permission to enter the City of London only on invertation.

To clarify THIS is The City of London

The boundaries of the Historical City

It has a totally different administration from Greater London AND from The UK & is able to make its OWN regulations & has its OWN police force

That's why ALL international banks are based there

The Bank of England is located in the City of London.

It's the 2nd oldest central bank in the world.

It was established by William Prince of Orange who was invited to take the throne of England by the City of London Elite in the so-called Glorious revolution.