Washington, DC and the Washington metropolitan area in the U. S. banking system (1980s — mid 2010s)

Abstract

The paper is focused on long-term evolution of role of Washington, DC and its metropolitan
area in the U.S. banking system. Analysis of statistical and other sources shows that — despite
the traditional American polycentrism — the federal capital area has important advantages, which
stimulate its successes in the sphere of credit and finance. On the other hand, it took some time after
liberalization of banking sector during the 1980s — 1990s (primarily, after abolition of restrictions
on interstate branching networks) for implementation of such advantages. Another important feature
of the metropolitan area is the fact that the largest financial groups are located not within the territory
of Washington, DC, but in several suburbs.