Your money what the Bank does

History of the
Bank of England
The Old Lady
The Bank of England was founded
in 1694 to raise funds for the
1694
government during a time of war
with France. Thereafter the Bank
gradually assumed the role of
the nations central bank. It was
privately owned until 1946, when it
was nationalised.

1734
The Bank moved to
Threadneedle Street in 1734.
Its famous nickname comes from a
James Gillray cartoon published in
1797. Over two centuries later,
the Bank is still known as The
Old Lady of Threadneedle Street.

1920s-30s
During the 1920s and 1930s the Bank
was rebuilt. Work was completed just
before the outbreak of World War II and
survived bombing during the Blitz.

1997
The Bank was given
operational responsibility for
monetary policy in 1997.

www.bankofengland.co.uk

2013
A Financial Policy Committee
was established in 2013 to
respond to risks across the
financial system. In the
same year, the Prudential
Regulation Authority was
created as a subsidiary of
the Bank of England to keep
banks and insurers
safe and sound.