The Bank of England as is the central bank of the United Kingdom and the model on which most modern central banks have been based, its history from the early times till nowadays. Most important functions of The Bank and its asset purchase facility.
The bank of England Contents 1. History 2. 19th century 3. 20th century 4. 21st century 5. Functions of the Bank 6. Asset Purchase Facility 7. Banknote issues 8. The Vault 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 Governments 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 bankn
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