Site Being Prepared For New Bank of England in Shadow of St. Paul's. A general view of the site-clearance work in progress In preparation for the building of the new Bank of England which will have for it's four boundaries - the proposed new precinct road of St. Paul's Cheapside, Bread Street, and Watling Street. The first steps in the re-building of the much-bombed City of London, have been taken with site-clearing work for the new Bank of England, now in progress. The new Bank is to be built i