Контрольная работа "Bank of England Museum"

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Bank of England Museum

MUSEUM HOME

The Bank of England is more than 300 years old and it is not surprising that occasionally unusual stories about this venerable institution have surfaced. The Bank has been located in Threadneedle Street since 1734,  gradually expanding its premises by purchasing  properties until the present 3 S acre site was enclosed in 1828. The current building, which was almost completed by the end of 1939, is essentially a steel skeleton on which the stone is hung. This gives the  building the necessary flexibility as the land in this part of the City was originally marshy, but it also means that the building has its own repertoire of noises caused by the flexing of the construction materials. This, together with the fact that the building encompasses the original sites of houses, taverns and even a churchyard, has encouraged stories of".. .things that go bump in the night..." .

The Bank of England and the Markets 

The Monetary Policy Committee sets the Bank of England's official repo rate, the main instrument of monetary policy. The Bank implements this rate through its open market operations in the wholesale sterling money markets.The Bank deals in the foreign exchange market as part of its day-to-day management of the "Exchange Equalisation Account" - which holds the UK's foreign currency and gold reserves. These may be used, subject to policy objectives, to attempt to influence the exchange rate in case of need. The Bank also operates in the foreign exchange market on its own behalf and acting on behalf of customers.The Bank operates sterling and euro Real Time Gross Settlement (RTGS) payments systems.The Bank chairs a number of market committees: Paul Tucker, Executive Director for Markets, chairs the Sterling Money Markets Liaison Group (MMLG). The group meets quarterly as a means for the Bank and market practitioners to maintain regular contact with each other at a senior level. In addition to members from the market, who come from a broad range of institutions, there are also members from trade organisations and official bodies. Others are occasionally invited to discuss matters of particular interest. An article in the Winter 2001 Bank of England Quarterly Bulletin put the work of the MMLG and the Stock Lending and Repo Committee in context with the Bank's other market liaison and intelligence activities.

*   Foreign Exchange Joint Standing Committee, chaired by Paul Fisher, Head of Foreign Exchange Division, is a forum for banks and brokers to discuss broad foreign exchange market issues. It helped facilitate the production of a market Code for Non-Investment Products in cooperation with the MMLG and the London Bullion Market Association.

• The Stock Lending and Repo Committee, chaired by David Rule, Head of Gilt-Edged and Money Markets Division, provides an opportunity for practitioners and the authorities to discuss structural (including legal) developments in London-based stock lending and repo markets.
• Minutes of past meetings of these committees are published on this

website (follow the relevant links).

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