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Encyclopedia > Bank of England
Bank of England
The Bank of England
The Bank of England
Headquarters London
Coordinates 51°30′51″N 0°05′19″W / 51.5141, -0.0886Coordinates: 51°30′51″N 0°05′19″W / 51.5141, -0.0886
Governor Mervyn King
Central Bank of United Kingdom
Currency Pound sterling
ISO 4217 Code GBP
Base borrowing rate 5.75%
Website bankofengland.co.uk
Succeeded by Currency Commission (Republic of Ireland only)

The Governor and Company of the Bank of England is the central bank of the United Kingdom, and as such it convenes the Monetary Policy Committee, which is responsible for the monetary policy of the country. It was established in 1694 act as the English Government's banker. The Bank's building is located in the City of London, in Threadneedle Street and hence it is sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The current Governor of the Bank of England is Mervyn King, who took over on June 30, 2003 from Sir Edward George. Image File history File linksMetadata Download high resolution version (2288x1712, 781 KB) The Bank of England in Threadneedle Street, London, England. ... This article is about the capital of England and the United Kingdom. ... Map of Earth showing lines of latitude (horizontally) and longitude (vertically), Eckert VI projection; large version (pdf, 1. ... Map of Earth showing lines of latitude (horizontally) and longitude (vertically), Eckert VI projection; large version (pdf, 1. ... The Governor of the Bank of England is the most senior position in the Bank of England. ... Mervyn Allister King (born March 30, 1948) is Governor of the Bank of England. ... “GBP” redirects here. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... The Currency Commission (Coimisiún Airgid Reatha), was created by the Currency Act, 1927 (Section 14) as part of the policy of the Irish Free State to create the Saorstát pound. The Currency Commission commissioned the Series A Banknotes, through the advice of an advisory commission. ... The Monetary Policy Committee (MPC) is a committee of the Bank of England, which meets every month to decide the official interest rate in the United Kingdom. ... It has been suggested that monetary theory be merged into this article or section. ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state United Kingdom Constituent country England Region Greater London Status sui generis, City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor John Stuttard  - MP Mark Field  - London Assembly John Biggs Area  - City  1. ... Threadneedle Street Threadneedle Street is a road in the City of London, leading from an intersection with Poultry, Cornhill, King William Street and Lombard Street, to Bishopsgate. ... The Governor of the Bank of England is the most senior position in the Bank of England. ... Mervyn Allister King (born March 30, 1948) is Governor of the Bank of England. ... is the 181st day of the year (182nd in leap years) in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... The silver Anglia knight, commissioned as a trophy in 1850, intended to represent the Black Prince. ... Edward Alan John George, Baron George, GBE, PC, (born 1938), known as Eddie George, or Steady Eddie, was Governor of the Bank of England from 1993 to 2003. ...

Contents

Functions of the Bank

The Bank of England performs all the functions of a central bank. The most important of these supposed to be maintaining price stability and supporting the economic policies of the UK's government, thus promoting economic growth. There are two main areas which are tackled by the Bank to ensure it carries out these functions efficiently:

  • Monetary Stability
Stable prices and confidence in the currency are the two main criteria for monetary stability. Stable prices are maintained by making sure price increases meet the Government's inflation target. The Bank aims to meet this target by adjusting the base interest rate, which is decided by the Monetary Policy Committee, and through its communications strategy.
  • Financial Stability
Maintaining financial stability involves protecting against threats to the whole financial system. Threats are detected by the Bank's surveillance and market intelligence functions. The threats are then dealt with through financial and other operations, both at home and abroad. In exceptional circumstances, the Bank may act as the lender of last resort by extending credit when no other institution will.

The Bank works together with several other institutions to secure both monetary and financial stability, including: An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ... This article needs to be cleaned up to conform to a higher standard of quality. ...

  • HM Treasury, the Government department responsible for financial and economic policy.
  • The Financial Services Authority, an independent body that regulates the financial services industry.
  • Other central banks and international organisations, with the aim of improving the international financial system.

The 1997 Memorandum of Understanding describes the terms under which the Bank, the Treasury and the FSA work toward the common aim of increased financial stability. The new eastern entrance to HM Treasury HM Treasury, in full Her Majestys Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the UK Governments financial and economic policy. ... The Financial Services Authority (FSA) is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. ... A memorandum of understanding (MOU) is a legal document describing a bilateral agreement between parties. ...


The Bank of England acts as the Government's banker, and as such it maintains the Government's Consolidated Fund account. It also manages the country's foreign exchange and gold reserves. The Bank also acts as the bankers' bank, especially in its capacity as a lender of last resort, and to maintain its pragmatic experience in all aspects of banking also provides commercial and retail banking facilities to a very limited number of corporate institutions and individuals. The Consolidated Fund is the British governments central bank account, held at the Bank of England. ... The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ... Gold reserves or gold holdings are held by central banks as a store of value generally to be used as a last resort. ...


The Bank of England has a monopoly on the issue of banknotes in England and Wales. Scottish and Northern Irish banks retain the right to issue their own banknotes, but they must be backed one to one with deposits in the Bank of England, excepting a few million pounds representing the value of notes they had in circulation in 1845. The Bank decided to sell its bank note printing operations to De La Rue in December 2002, under the advice of Close Brothers Corporate Finance Ltd.[1] A monopoly (from the Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service, in other words a firm that has no competitors in its industry. ... A £20 Ulster Bank banknote. ... This article is about the country. ... Northern Ireland (Irish: ) is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... De La Rue is a British commercial printer and paper maker headquartered in Basingstoke, Hampshire. ...


Since 1997 the Monetary Policy Committee has had the responsibility for setting the official interest rate. However, with the decision to grant the Bank operational independence, responsibility for government debt management was transferred to the new UK Debt Management Office in 1998, which also took over government cash management in 2000. Computershare took over as the registrar for UK Government bonds (known as gilts) from the Bank at the end of 2004. The UK Debt Management Office (DMO), was established on 1 April 1998. ... Founded in Australia in 1978, Computershare has grown (largely through overseas acquisitions) to become the worlds largest share registry business. ... Gilts are bonds issued by the UK Government. ...


The Bank used to be responsible for the regulation and supervision of the banking industry, although this responsibility was transferred to the Financial Services Authority in June 1998.


In order to help maintain economic stability, the Bank attempts to broaden understanding of its role, both through regular speeches and publications by senior Bank figures, and through a wider education strategy aimed at the general public. It maintains a free museum and runs the Target Two Point Zero competition for A-level students.[2] There are very few or no other articles that link to this one. ...


History

The main Bank of England façade, c. 1980.
The main Bank of England façade, c. 1980.

The bank was founded by the Scotsman William Paterson, in 1694 to finance war. He proposed a loan of £1.2m to the government; in return the subscribers would be incorporated as The Governor and Company of the Bank of England with long term banking privileges including the issue of notes. The Royal Charter was granted on July 27 through the passage of the Tonnage Act of 1694. Public finances were in so dire a condition at the time that the terms of the loan were that it was to be serviced at a rate of 8% per annum, and there was also a service charge of £4000 per annum for the management of the loan. The first governor was Sir John Houblon, who is depicted in the £50 note issued in 1990. The charter was renewed in 1742, 1764, and 1781. The Bank was originally constructed above the ancient Temple of Mithras, London at Walbrook, dating to the founding of Londinium in antiquity by Roman garrisons. Mithras was, among other things, considered the god of contracts, a fitting association for the Bank. In 1734 the Bank moved to its current location on Threadneedle Street, slowly acquiring the land to create the edifice seen today. Sir Herbert Baker's rebuilding of the Bank of England, demolishing most of Sir John Soane's earlier building was described by Pevsner as "the greatest architectural crime, in the City of London, of the twentieth century". BoE and Liffe statue Photo taken (by BB98uk) back in the late 1980s. ... BoE and Liffe statue Photo taken (by BB98uk) back in the late 1980s. ... Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ... This article is about the country. ... Sir William Paterson. ... For the ship of the same name, see Royal Charter (ship). ... is the 208th day of the year (209th in leap years) in the Gregorian calendar. ... Events February 6 - The colony Quilombo dos Palmares is destroyed. ... Sir John Houblon (1632 - 1711) was the Bank of Englands first Governor, and held the post during 1694–1697. ... The present day location of the temple foundations. ... Londinium may refer to: An ancient Roman name for London (see History of London) Londinium (movie) A song by Catatonia A fictional planet in the TV show Firefly, (see moons and planets in Firefly) Londinivm, a free MMORPG. Londinium (album), an album by the band Archive This is a disambiguation... This article or section contains too much jargon and may need simplification or further explanation. ... Sir Herbert Baker 9 June 1862 Cobham, Kent - 4 February 1946 Cobham, Kent, was the dominant force in South African architecture for two decades, 1892–1912. ... Sir John Soane (10 September 1753 - 20 January 1837) was a British architect who specialised in the Neo-Classical tradition. ... Nikolaus Pevsner (January 30, 1902 - August 18, 1983) was a German-born British historian of art and, especially, architecture. ...


When the idea and reality of the National Debt came about during the 18th century this was also managed by the bank. By the charter renewal in 1781 it was also the bankers' bank—keeping enough gold to pay its notes on demand until February 26, 1797 when war had so diminished gold reserves that the government prohibited the Bank from paying out in gold. This prohibition lasted until 1821. Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... is the 57th day of the year in the Gregorian calendar. ... 1797 (MDCCXCVII) was a common year starting on Sunday (see link for calendar) of the Gregorian calendar (or a common year starting on Wednesday of the 11-day-slower Julian calendar). ... The French Revolution (1789–1815) was a period of political and social upheaval in the political history of France and Europe as a whole, during which the French governmental structure, previously an absolute monarchy with feudal privileges for the aristocracy and Catholic clergy, underwent radical change to forms based on...


The 1844 Bank Charter Act tied the issue of notes to the gold reserves and gave the bank sole rights with regard to the issue of banknotes. Private banks which had previously had that right retained it, provided that their headquarters were outside London and that they deposited security against the notes that they issued. A few English banks continued to issue their own notes until the last of them was taken over in the 1930s. The Scottish and Northern Irish private banks still have that right. Britain remained on the gold standard until 1931 when the gold and foreign exchange reserves were transferred to the Treasury. But their management was still handled by the Bank. In 1870 the bank was given responsibility for interest rate policy. The Bank Charter Act 1844 was a UK act of parliament, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England. ... This article is about the capital of England and the United Kingdom. ... The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ... The new eastern entrance to HM Treasury HM Treasury, in full Her Majestys Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the UK Governments financial and economic policy. ...


During the governorship of Montagu Norman, which lasted from 1920 to 1944, the Bank made deliberate efforts to move away from commercial banking and become a central bank. In 1946, shortly after the end of Norman's tenure, the bank was nationalised. Montagu C. Norman, Time cover, 1929 Montagu Collet Norman, 1st Baron Norman, DSO (6 September 1871–4 February 1950), was a distinguished English banker, best known for his role as the Governor of the Bank of England from 1920 to 1944. ... A commercial bank is a type of financial intermediary and a type of bank. ...


In 1997 the bank's Monetary Policy Committee was given sole responsibility for setting interest rates to meet the Government's stated Retail Prices Index inflation target of 2.5%.[3] This decision was taken by the Chancellor of the Exchequer, Gordon Brown in consultation with Tony Blair prior to the 1997 general election though the announcement was made the day after the election. The target has now changed to 2% since the consumer price index (CPI) replaced the retail price index (RPI) as the treasury's inflation index.[4] Should inflation overshoot or undershoot the target by more than 1%, the Governor will have to write a letter to the Chancellor of the Exchequer explaining why, and how he will remedy the situation. It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... For others with the same or similar names, see Gordon Brown (disambiguation). ... The UK general election, 1997 was held on 1 May 1997. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... In economics, the Consumer Price Index (CPI, also retail price index) is a statistical measure of a weighted average of prices of a specified set of goods and services purchased by wage earners in urban areas. ... The Chancellor of the Exchequer is the title held by the British Cabinet minister responsible for all economic and financial matters. ...


An independent Bank of England had featured as a key plank of the Liberal Democrats economic policy since the 1992 general election.[5] A Conservative MP Nicholas Budgen had also proposed this as a Private Member's Bill in 1996, but the bill failed as it had neither the support of the government nor that of the opposition. This article or section does not cite any references or sources. ... Nicholas William Budgen (November 3, 1937–October 26, 1998) was a British politician. ... A Private Members Bill is a proposed law introduced by a backbench member of parliament, whether from the government or the opposition side, to that legislature or parliament. ...


Banknote issues

The Bank of England has issued banknotes since 1694. Notes were originally hand-written; although they were partially printed from 1725 onwards, cashiers still had to sign each note and make them payable to someone. Notes were fully printed from 1855. Until 1928 all notes were "White Notes", printed in black and with a blank reverse. In the 18th and 19th centuries White Notes were issued in £1 and £2 denominations. During the 20th century White Notes were issued in denominations between £5 and £1000. In the twentieth century, the Bank issued notes for ten shillings and one pound for the first time on 22 November 1928 when the Bank took over responsibility for these denominations from the Treasury which had issued notes of these denominations three days after the declaration of war in 1914 in order to remove gold coins from circulation. It has been suggested that this article or section be merged into Banknotes of the pound sterling. ... This article is about coinage. ... is the 326th day of the year (327th in leap years) in the Gregorian calendar. ... Year 1928 (MCMXXVIII) was a leap year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... “The Great War ” redirects here. ... This article is about monetary coins. ...


During the Second World War the German Operation Bernhard attempted to counterfeit various denominations between £5 and £50 producing 500,000 notes each month in 1943. The original plan was to parachute the money on Britain in an attempt to destabilise the British economy, but it was found more useful to use the notes to pay German agents operating throughout Europe — although most fell into Allied hands at the end of the war, forgeries frequently appeared for years afterwards, which led banknote denominations above £5 to be removed from circulation. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... Operation Bernhard was the name of a secret German plan devised during the Second World War to destabilise the British economy by flooding the country with forged Bank of England £5, £10, £20, and £50 notes. ... Look up ally in Wiktionary, the free dictionary. ...


In 2006, a sum in excess of £53 million in banknotes belonging to the bank was stolen from a depot in Tonbridge. The Securitas depot robbery was a robbery which took place in the early hours of 22 February 2006, between 01:00 and 02:15 UTC in England, an operation that succeeded in stealing the largest cash amount in British crime history. ... Tonbridge is a market town in the English county of Kent, with a population of 31,600 in 2001. ...


See also

v  d  e
Part of a series of articles on the History of London
Evolution

Londinium · Lundenwic · City of London · City of Westminster · County of London · Greater London The Bank of England The Bank of England Museum is located on the eastern side of the Bank of England, City of London, England. ... The Bank of Japan has its headquarters in this building in Tokyo. ... This article concerns British coinage, the coinage of the United Kingdom. ... Sterling banknotes are the banknotes of the United Kingdom and British Islands, denominated in pounds sterling (GBP). ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ... The new eastern entrance to HM Treasury HM Treasury, in full Her Majestys Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the UK Governments financial and economic policy. ... “GBP” redirects here. ... This is a list of topics related to the United Kingdom. ... The Financial Sanctions Unit (official webpage) of the Bank of England administers financial sanctions in the United Kingdom on behalf of HM Treasury. ... The British East India Company, sometimes referred to as John Company, was the first joint-stock company (the Dutch East India Company was the first to issue public stock). ... London has a recorded history that goes back over 2,000 years. ... London has a recorded history that goes back over 2,000 years. ... London has a recorded history that goes back over 2,000 years. ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state United Kingdom Constituent country England Region Greater London Status sui generis, City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor John Stuttard  - MP Mark Field  - London Assembly John Biggs Area  - City  1. ... The City of Westminster is a borough of London, England with city status. ... The County of London was an administrative county and ceremonial county of England from 1889 to 1965. ... Greater London is the top-level administrative subdivision covering London, England. ...

Local government

Metropolitan Board of Works · London County Council · Greater London Council · Greater London Authority · London Assembly · Mayor of London The history of local government in London, England can be broken down into a number of periods: History of local government in the United Kingdom History of London ^ a b Barlow, I., Metropolitan Government, (1991) ^ Saint, A., Politics and the people of London: the London County Council (1889-1965), (1989... The Metropolitan Board of Works (MBW) was the principal instrument of London-wide government from 1855 until the establishment of the London County Council in 1889. ... London County Council emblem is still seen today on buildings, especially housing, from that era London County Council (LCC) was the principal local government body for the County of London from 1889 until 1965, when it was replaced by the Greater London Council. ... Arms of the Greater London Council The Greater London Council (GLC) was the top-tier local government administrative body for Greater London from 1965 to 1986. ... The Greater London Authority (GLA) administers the 1579 km² (610 sq. ... The London Assembly is an elected body that supervises the Greater London Authority and the Mayor of London. ... Ken Livingstone, the current Mayor of London The Mayor of London is an elected politician in London, United Kingdom. ...

Events

Peasants' Revolt · Black Death · Great Plague · Great Fire of London · The Great Stink · The Great Exhibition · The Blitz · Swinging London · The London Plan · 7/7 bombings · Olympic Games (1908 · 1948 · 2012) The end of the revolt: Wat Tyler (also spelt Tighler) killed by Walworth while Richard II watches, and a second image of Richard addressing the crowd The Peasants Revolt, Tyler’s Rebellion, or the Great Rising of 1381 was one of a number of popular revolts in late medieval Europe... This article concerns the mid fourteenth century pandemic. ... A bill of mortality for the plague year of 1665. ... Detail of painting from 1666 of the Great Fire of London by an unknown artist, depicting the fire as it would have appeared on the evening of Tuesday, 4 September from a boat in the vicinity of Tower Wharf. ... Michael Faraday giving his card to Father Thames, caricature commenting on a letter of Faradays on the state of the river in the Times in Summer 1855 The Great Stink or The Big Stink was a time in the summer of 1858 during which the smell of untreated sewage... The Great Exhibition in Hyde Park 1851. ... For other uses, see Blitz. ... Swinging London is a catchall term applied to a variety of dynamic cultural trends in the United Kingdom (centred in London) in the second half of the 1960s. ... Ken Livingstone, the current Mayor of London The Mayor of London is an elected politician in London, United Kingdom. ... Locations of the bombings, overlaid onto a real-path map of the London Underground The 7 July 2005 London bombings (also called the 7/7 bombings) were a series of coordinated terrorist bomb blasts that hit Londons public transport system during the morning rush hour. ... There have been two London Olympics (London hosting the Olympic Games), in 1908 and 1948, with a third scheduled for 2012. ... The 1908 Summer Olympics, officially known as the Games of the IV Olympiad, were held in 1908 in London, England. ... The Games of the XIV Olympiad were held in 1948 at Wembley Stadium in London, England. ... “London 2012” redirects here. ...

Structures

St. Paul's Cathedral · Tower of London · Baynard's Castle · Westminster Hall · London Bridge · Westminster Abbey · The Monument St Pauls Cathedral is a cathedral on Ludgate Hill, in the City of London in London, and the seat of the Bishop of London. ... For other uses, see Tower of London (disambiguation) Her Majestys Royal Palace and Fortress The Tower of London, more commonly known as the Tower of London (and historically simply as The Tower), is an historic monument in central London, England on the north bank of the River Thames. ... Baynards Castle was at various times a castle, house and palace that existed on the same site, in the south west corner of the City of London, for 600 years from the time of the Norman Conquest until the Great Fire of London. ... Clock Tower and New Palace Yard from the west The Palace of Westminster, on the banks of the River Thames in Westminster, London, is the home of the House of Commons and the House of Lords, which form the Parliament of the United Kingdom. ... For other uses, see London Bridge (disambiguation). ... The Collegiate Church of St Peter, Westminster, which is almost always referred to by its original name of Westminster Abbey, is a mainly Gothic church, on the scale of a cathedral (and indeed often mistaken for one), in Westminster, London, just to the west of the Palace of Westminster. ... The Monument, London to commemorate the Great Fire of London, designed by Sir Christopher Wren The viewing platform The Monument seen from the ground The Monument to the Fire of London, more commonly known as The Monument, is a 61-metre (202-foot) tall stone Roman doric column in the...

City of London

Corporation of London · Lord Mayor of London · Guildhall · Livery Companies · Lord Mayor's Show · Bank of England Coat of arms of the City of London as shown on Blackfriars station. ... Current Lord Mayor of London John Stuttard during the parade on November 11th, 2006 Michael Berry Savory, Previous Lord Mayor (2004–2005) The Right Honourable Lord Mayor of London is the Mayor of the City of London and head of the Corporation of London. ... The Guildhall The Guildhall complex in c. ... Livery Companies are trade associations based in the City of London. ... In 1747, the Lord Mayor went to the City of Westminster on a barge via the River Thames. ...

Services

Bow Street Runners · Metropolitan Police Service · London Ambulance Service · London Fire Brigade · London sewerage system 19th Century depiction of the Bow Street Magistrates Court, to which the Bow Street Runners were attached. ... The Metropolitan Police Service (MPS) is the name currently used by the territorial police force which is responsible for Greater London other than the City of London (the responsibility of the City of London Police). ... The London Ambulance Service (LAS) is the largest ambulance service in the world that does not directly charge its patients for its services. ... The London Fire Brigade (LFB) is the statutory fire and rescue service for London, England. ... The new Abbey Mills Pumping Station The original Abbey Mills pumping station The London sewerage system is part of the water infrastructure serving London. ...

There are currently five institutions of the European Union which govern the Union. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... The European System of Central Banks (ESCB) is composed of the European Central Bank (ECB) and the national central banks (NCBs) of all 25 EU Member States. ... The European Investment Bank (the Banque Européenne dInvestissement) is the European Unions financing institution and was established under the Treaty of Rome (1957) to provide loan finance for capital investment furthering European Union policy objectives, in particular regional development, Trans-European Networks of transport, telecommunications and energy... Image File history File links This is a lossless scalable vector image. ... The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ... The Oesterreichische Nationalbank (OeNB) is the central bank of the Republic of Austria and, as such, an integral part of both the European System of Central Banks (ESCB) and the Eurozone. ... The National Bank of Belgium (Nationale Bank van België in Dutch, Banque nationale de Belgique in French, and Belgischen Nationalbank in German) has been the central bank of Belgium since 1850. ... The Bank of Finland, Helsinki, with the statue of Johan Vilhelm Snellman in front. ... One of the Banque de Frances offices in Paris. ... The Deutsche Bundesbank (German Federal Bank) is the central bank of Germany and a part of the European System of Central Banks. ... Not to be confused with the National Bank of Greece. ... Banc Ceannais na hÉireann or the Central Bank of Ireland is the Republic of Ireland which had control of the issue of Irish banknotes and coins. ... Headquarters Rome Established 1893 Governor Mario Draghi Central Bank of Italy Website bancaditalia. ... The Central Bank of Luxembourg (French: , BCL) is the central bank of Luxembourg. ... De Nederlandsche Bank (DNB, The Dutch Bank) is the central bank of the Netherlands. ... The Bank of Portugal (Portuguese: ) is the central bank of the Republic of Portugal. ... The Bank of Slovenia is the bank of issue and the central bank of the Republic of Slovenia. ... The Banco de España (Bank of Spain) is the national central bank of Spain. ... central bank of the Republic of Bulgaria and one of the oldest central banks in the world, established on 25 January 1879. ... The Central Bank of Cyprus (Greek: Kεντρικη Τραπεζα της Κυπρου, Turkish: Kıbrıs Merkez Bankasi) is the central bank of the Republic of Cyprus, located in Nicosia. ... Czech National Bank (official name in Czech language: Česká národní banka, abbreviated ČNB) is central bank of the Czech Republic. ... Danmarks Nationalbank (English: National Bank of Denmark - in Danish often simply Nationalbanken) is the central bank of Denmark. ... The Bank of Estonia (Estonian: Eesti Pank), is the central bank of Estonia. ... The Hungarian National Bank (in Hungarian: Magyar Nemzeti Bank) is the central bank of Hungary. ... The Bank of Latvia (Latvijas Banka) is the central bank of Latvia. ... The Bank of Lithuania is the central bank of the Republic of Lithuania. ... The Central Bank of Malta was established on 17 April 1968. ... Polish National Bank branch building in WrocÅ‚aw, Poland. ... Headquarters Bucharest Central Bank of Romania Currency Romanian leu -ISO 4217 Code RON Base borrowing rate 4. ... NBS Office Tower in Bratislava National Bank of Slovakia (Slovak: Národná banka Slovenska, abbr. ... Sveriges Riksbank (Swedish National Bank) is the central bank of Sweden, sometimes called just the Bank of Sweden. ...

References

  1. ^ Sale of Bank Note Printing. Bank of England. Retrieved on 2006-06-10.
  2. ^ Bank of England: Education. Bank of England. Retrieved on 2007-03-28.
  3. ^ Key Monetary Policy Dates Since 1990. Bank of England. Retrieved on 2007-09-20.
  4. ^ Remit of the Monetary Policy Committee of the Bank of England and the New Inflation Target. HM Treasury (2003-12-10). Retrieved on 2007-09-20.
  5. ^ Liberal Democrat election manifesto, 1992

Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 161st day of the year (162nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 87th day of the year (88th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 263rd day of the year (264th in leap years) in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... December 10 is the 344th day (345th in leap years) of the year in the Gregorian calendar, 21 days before the next year. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 263rd day of the year (264th in leap years) in the Gregorian calendar. ...

External links

Look up Bank of England in Wiktionary, the free dictionary.
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Bank of England

  Results from FactBites:
 
Bank of England - ninemsn Encarta (379 words)
The Bank of England was incorporated on July 27, 1694, as a private joint-stock association, with a capital of £1.2 million.
From the outset the Bank of England was a servant of the government.
The bank is administered by a governor, a deputy governor, and 16 directors; all are appointed by the Crown.
bank of england - Search Results - MSN Encarta (251 words)
Bank of England, central bank of the United Kingdom, a financial institution with special privileges and responsibilities.
Contact details for the Bank of England, including address, email, post and telephone.
The Bank of England is the central bank of the United Kingdom, and as such it convenes the Monetary Policy Committee, which is responsible for the monetary policy of the country.
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