|
|
|
 |
|
|
Home
»
Central Banks
Worldwide
»
Bank of England |
|
Bank of England
|
|
|
|
 |
The Bank of
England is the central bank of the United Kingdom. Sometimes known as the
'Old Lady' of Threadneedle Street, the Bank was founded in 1694,
nationalised on 1 March 1946, and gained independence in 1997. Standing at
the centre of the UK's financial system, the Bank is committed to promoting
and maintaining monetary and financial stability as its contribution to a
healthy economy. |
|
|
|
|
The Bank's
roles and functions have evolved and changed over its three-hundred year
history. Since its foundation, it has been the Government's banker and,
since the late 18th century, it has been banker to the banking system more
generally - the bankers' bank. As well as providing banking services to its
customers, the Bank of England manages the UK's foreign exchange and gold
reserves. The Bank has two core purposes - monetary stability and financial
stability. The Bank is perhaps most visible to the general public through
its banknotes and, more recently, its interest rate decisions.
|
|
The Bank has
had a monopoly on the issue of banknotes in England and Wales since the
early 20th century. But it is only since 1997 that the Bank has had
statutory responsibility for setting the UK's official interest rate.
Interest rates decisions are taken by the Bank's Monetary Policy Committee.
The MPC has to judge what interest rate is necessary to meet a target for
overall inflation in the economy. The inflation target is set each year by
the Chancellor of the Exchequer.
The Bank
implements its interest rate decisions through its financial market
operations - it sets the interest rate at which the Bank lends to banks and
other financial institutions. The Bank has close links with financial
markets and institutions. This contact informs a great deal of its work,
including its financial stability role and the collation and publication of
monetary and banking statistics.
|
|
 |
|
Bank of England |
|
HQ
Address: |
Threadneedle Street
London EC2R 8AH |
|
Telephone: |
+44 0 20 7601 4444 |
|
Facsimile: |
+44 0 20 7601 5460 |
|
Website: |
www.bankofengland.co.uk |
|
Swift Code: |
BKENGB33 |
|
Currency: |
British pound |
|
Banking Hours: |
|
Monday - Friday 9.00am - 3.00pm |
|
|
|
|
|
|
|
The Bank of England is committed
to increasing awareness and understanding of its activities and
responsibilities, across both general and specialist audiences alike. It
produces a large number of regular and ad hoc publications on key aspects of
its work and offers a range of educational materials. The Bank offers
technical assistance and advice to other central banks through its Centre
for Central Banking Studies, and has a museum at its premises in
Threadneedle Street in the City of London, open to members of the public
free of charge. |
|
|
|
|
|
|
|
|
|
|
|
List of banks governed by the
Bank of England |
|
|
|
Independent British Retail
Banking Brands |
|
|
|
» HSBC |
» Lloyds Banking Group |
» Standard Chartered Bank |
|
» Royal Bank of Scotland |
» Barclays Plc |
» Bank of Scotland |
|
» Birmingham Midshires |
» Cheltenham & Gloucester |
» Church House Trust |
|
» Coutts & Co |
» Duncan Lawrie |
» First Direct |
|
» Halifax |
» Intelligent Finance |
» Lloyds TSB |
|
» NatWest |
» Reliance Bank |
» Smile (The Co-operative Bank) |
|
» Ulster Bank |
» The Woolwich |
|
|
|
|
|
UK Retail Banking Brands
owned by Foreign Banks |
|
|
|
» Allied Irish Bank |
» Egg Banking Plc |
» Yorkshire Bank |
|
» Bank of Ireland |
» Northern Bank |
» Bank of Cyprus UK |
|
» Clydesdale Bank |
» Santander |
|
|
|
|
|
|
|
|
DISCLAIMER
The content comes from Internet, reasonable efforts are made to maintain accuracy of information published.
However, information could contain errors or inaccuracies and is presented
without warranty and statutory means.
No liability is assumed for errors or omissions. Viewers are advised to
consult their banker or financial consultant for complete information and
their professional advise.
All trademarks, logos, brand names and copyrights are the property of their
respective owners. |
|
|
© 2011 - 2022 BankHeadOffice.com ® All
Rights Reserved |
|