Bank of England

The central bank of the UK. It was established in 1694 and came under public ownership in 1946. The Bank of England acts as the government's bank by providing loans and arranging borrowing through the issue of gilt-edged securities. The bank helps to implement financial and monetary policy as directed by the Treasury. In 1997 the Bank took over sole responsibility for setting the base rate, which had previously been a joint responsibility with the Chancellor of the Exchequer. The Bank formerly had wide powers to supervise the banking system, but these passed to the Financial Services Authority in 1997.

Accounting dictionary. 2014.

Look at other dictionaries:

  • Bank of England — Bank of England …   Wikipedia

  • Bank of England — Bank von England Bank of England …   Deutsch Wikipedia

  • Bank von England — Bank of England …   Deutsch Wikipedia

  • Bank of England — established in 1694, the Bank of England is the central bank of the UK. It was nationalised by the Bank of England Act 1946 and acts as competent authority for the banking sector under regulatory powers conferred by the Banking Act 1987. It now… …   Law dictionary

  • Bank von England — Bank von England,   englisch Bank of England [ bæȖk əv ɪȖglənd], Zentralnotenbank Großbritanniens, Sitz: London. Gegründet 1694 als private Aktienbank, erhielt sie Notenausgaberecht und durfte übrige Bankgeschäfte betreiben. Durch die Peelsche… …   Universal-Lexikon

  • Bank of England — (spr. bänk off ingländ), s. Bank von England …   Kleines Konversations-Lexikon

  • Bank von England — (Bank of England), 27. Juli 1694 gegründet, mit Sitz in London, arbeitet als Bankier des Staates und verwaltet gegen Vergütung die Staatsschuld; Stammkapital 14.553.000, umlaufende Noten etwa 50 Mill. Pfd. St. – Vgl. Philippovich (1885) …   Kleines Konversations-Lexikon

  • Bank of England —   [ bæȖk əv ɪȖglənd], die Bank von England.   …   Universal-Lexikon

  • Bank of England — Bank of England, s. Banken, S. 346 …   Meyers Großes Konversations-Lexikon

  • Bank of England — The central bank of the UK. It was established in 1694 as a private bank by London merchants in order to lend money to the state and to deal with the national debt. It came under public ownership in 1946 with the passing of the Bank of England… …   Big dictionary of business and management

  • Bank of England — The UK s central bank with responsibility for the setting of interest rates. It is also the lender of last resort to prevent a systemic collapse in the banking system. Dresdner Kleinwort Wasserstein financial glossary ( BoE) Euroclear Clearing… …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.