Name- Kanchan yadav 331

Pratham chavan 332

Samsh sayyed 333
Ritika. Kale. 334
Gauri. Wagman 335

Subject- Central Banking

Topic- Bank Of England
Presentation To- Mr Sudhir Ghodi Sir
Introduction :-

The Bank of England (BoE) is the central

bank for the United Kingdom. It has a
wide range of responsibilities similar to
those of most central banks around the
world. It acts as the government's bank
and the lender of last resort. The BoE
issues currency and, most importantly,
oversees monetary policy.
History :-

The Bank of England was incorporated by act of

Parliament in 1694 with the immediate purpose of
raising funds to allow the English government to
wage war against France in the Low Countries (see
Grand Alliance, War of the). A royal charter allowed
the bank to operate as a joint-stock bank with limited
liability.
Headquarters: London
Date: 1694 - present
Related People: Mervyn King Eddie George
Aims and objective :-

• The Bank of England's mission is to promote

the good of the people of the
• United Kingdom by maintaining monetary
and financial stability. The Bank's monetary
policy objective is to deliver price stability
and, subject to that, to support the
Government's economic objectives including
those for growth and employment
Function :-
It is important to note that "monetary" and "financial"
are synonyms. Stable prices and confidence in the
currency are the two main criteria for monetary
stability. Stable prices are maintained by seeking to
ensure that price increases meet the Government's
inflation target. The Bank aims to meet this target by
adjusting the base interest rate, which is decided by
the Monetary Policy Committee, and through its
communications strategy, such as publishing yield
curves.
Gold vault :-

The bank is custodian to the official gold reserves of

the United Kingdom and around 30 other
countries.As of April 2016 the bank held around
400,000 bars, which is equivalent to 5,134 tonnes
(5,659 tons) of gold. These gold deposits were
estimated in August 2018 to have a current market
value of approximately £200 billion. These
estimates suggest the vault could hold as much as
3% of the gold mined throughout human history.
Fractional-reserve banking :-
The system of banking operating in almost all
countries worldwide under which banks that take
deposits from the public are required to hold a
proportion of their deposit liabilities in liquid assets
as a reserve, and are at liberty to lend the remainder
to borrowers.Bank reserves are held as cash in the
bank or as balances in the bank's account at the
central bank. The country's central bank determines
the minimum amount that banks must hold in liquid
assets, called the "reserve requirement" or "reserve
ratio".
About :-

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 to act as the English
Government's banker, and still one of the
bankers for the Government of the United
Kingdom, it is the world's eighth-oldest bank.
The Governance of the Bank of England
The Court of Directors oversees the
operations of the bank and the court
members are appointed by the Queen,
but on the recommendation of the
Chancellor and the Prime Minister. The
court has five executive members and
nine non-executive members.
Monetary Stability :-

Monetary stability relates to maintaining

stable prices and confidence in the currency.
The BoE has been tasked with the
responsibility to issue bank notes in the
United Kingdom for over 300 years now.
Also, as the central bank of the UK, the Bank
of England is responsible for maintaining
confidence that the currency in circulation is
genuine.
Conclusion