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The Bank of England was created in the seventeenth century, specifically in 1694. Since its founding, and for more than two centuries, this bank was a private company. It is nicknamed The old lady of Threadneedle Street (The Old Lady of Threadneedle Street) by the British because of its location in the city of London. Its role has evolved over the history as well as its functions: managing state accounts, grant loans, issue tickets, etc.
Originally named The Governor and Company of the Bank of England, the bank experienced a first turn in 1946 with the nationalization of its capital. It is then in 1998 that the Bank of England became an independent public body. The first mission of this institution is to ensure monetary and financial stability. Regulations concerning the exchange is also in the hands of the Bank of England, as well as the distribution of currency (British Pound Sterling) in England and Wales. This organization also acts as lender of last resort and must be able to unlock, if necessary, money funds.
Finally, gold reserves on behalf of Great Britain and several other countries are stored in the Bank of England.
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