Bank of England
About Bank of England
Founded in 1694 to raise money for King William IIIs war against France. The Bank of England is the second oldest continuously operating central bank after Sveriges Riksbank. It was privately owned until nationalized in 1946. The Bank issued the first permanent banknotes in England. It gained monopoly over note issuance in London in 1708 and nationwide in 1844. The Bank acted as lender of last resort during multiple crises. It was granted operational independence in 1997, setting interest rates free from political control. The Old Lady of Threadneedle Street remains one of the most influential financial institutions in the world.
Related Entries
Sveriges Riksbank
The worlds oldest central bank, founded in 1668 as Riksens Stnders Bank. Originally established to i...
Banque de France
Founded by Napoleon Bonaparte in 1800 to stabilize the French economy after the Revolutionary assign...
Federal Reserve Bank of New York
The most powerful of the 12 Federal Reserve Banks. The New York Fed implements monetary policy throu...