English see bank losing face (3)
I believe the answer is:
ely
'english see' is the definition.
'ely' can be an answer for 'see' (see is a place with a cathedral - e.g. Ely). I'm not sure about the 'english' bit.
'bank losing face' is the wordplay.
'bank' becomes 'rely' (to bank on something is to rely on it).
'losing face' means to remove the first letter.
'rely' with its initial letter taken off is 'ELY'.
Can you help me to learn more?
(Other definitions for ely that I've seen before include "East Anglian city" , "Fenland cathedral town" , "Small city in Cambridgeshire" , "Fenland city" , "Cambs. city" .)