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The 1986 'Big Bang' in London allowing banks to access capital markets in new ways, which led to significant changes to the way banks operated and accessed capital. It also started a trend where retail banks started to acquire investment banks and stock brokers creating universal banks that offered a wide range of banking services. [211]
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.The timing of the Great Depression varied around the world; in most countries, it started in 1929 and lasted until the late 1930s.