Bank of England
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The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world (the oldest being the Sveriges Riksbank (Bank of Sweden), established in 1668). It was established to act as the English Government's banker, and to this day it still acts as the banker for HM Government. The Bank was privately owned and operated from its foundation in 1694. It was subordinated to the Treasury after 1931 in making policy and was nationalised in 1946. In 1998, it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the Government, with independence in setting monetary policy. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, but has a monopoly on the issue of banknotes in England and Wales and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for managing the monetary policy of the country. The Treasury has reserve powers to give orders to the committee "if they are required in the public interest and by extreme economic circumstances" but such orders must be endorsed by Parliament within 28 days. The Bank's Financial Policy Committee held its first meeting in June 2011 as a macro prudential regulator to oversee regulation of the UK's financial sector. The Bank's headquarters has been located in London's main financial district, the City of London, on Threadneedle Street, since 1734. It is sometimes known by the metonym The Old Lady of Threadneedle Street or simply The Old Lady, a name taken from the legend of Sarah Whitehead, whose ghost is said to haunt the bank's garden. The busy road junction outside is known as Bank junction. The current Governor of the Bank of England is Sir Mervyn King, who took over on 30 June 2003 from Sir Edward George. As well as its London offices, the Bank of England also has offices in King Street, Leeds. From Wikipedia under the
GNU Free Documentation License Matching Results for Bank of England:Bank of EnglandThe central bank of the United Kingdom. The building in Threadneedle Street that houses it. The organisation which controls this bank. I am an ... Threadneedle Street a street in London, running from Poultry and Lombard Street to Bishopsgate; the site of the Bank of England (UK, economics, banking, finance) The Bank ... gilt A thin layer of gold or other metal; gilding (slang) money A security issued by the Bank of England (see gilt-edged golden coloured From Wiktionary under the
GNU Free Documentation License Matching Results for Bank of England:BankingQuotes about the business of Banks: institutions where one can place and borrow money and take care of financial affairs. Mary Poppins (film) First of all I would like to make one thing quite clear. I never explain anything. National Lampoon's European Vacation This page lacks sufficient introduction or links to Wikipedia. Without such information, it is hard to distinguish this topic from similarly-named topics or to research ... From Wikiquote under the
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