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The Bank of England
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, it is the second oldest central bank in the world and the world's 8th oldest bank. It was established to act as the English Government's banker.
The Bank performs all the functions of a central bank. The most important of these is supposed to be maintaining price stability and supporting the economic policies of the Government, thus promoting economic growth.
The Bank has issued banknotes since 1694. Notes were originally hand-written; although they were partially printed from 1725 onwards, cashiers still had to sign each note and make them payable to someone. Notes have been fully printed since 1855.
There are two main areas which are tackled by the Bank to ensure it carries out these functions efficiently: monetary stability and financial stability. Stable prices and confidence in the currency are the two main criteria for monetary stability. Stable prices are maintained by making sure price increases meet the Government's inflation target. Maintaining financial stability involves protecting against threats to the whole financial system. Threats are detected by the Bank's surveillance and market intelligence functions.
The Bank works together with other institutions to secure both monetary and financial stability, including HM Treasury (Her Majesty's Treasury), the Government department responsible for financial and economic policy; and other central banks and international organizations, with the aim of improving the international financial system.

1. The Bank of England is the central bank of the United Kingdom.
a. True b. False

2. The most important functions of the Bank of England are supposed to be maintaining price stability and supporting the economic policies of the Government.
a. True b. False

3. The Bank has issued banknotes since 1994.
a. True b. False

4. The two main areas which are affected by the Bank are monetary stability and financial stability.
a. True b. False

5. The Bank doesn’t cooperate with other institutions to control monetary and financial spheres.
a. True b. False