Bank of England

The Bank of England is the central bank of the United Kingdom. It sets monetary policy, issues currency, and supports financial stability.

The Bank of England oversees key payment systems like CHAPS and includes the PRA within its structure. It also manages the UK's official reserves. Official site: Bank of England.

Related Terms

GBP

British Pound Sterling

GBP is the official currency of the United Kingdom and its territories. It's one of the oldest curre...

CHAPS

Clearing House Automated Payment System

CHAPS is a UK RTGS payment system used for high-value, same-day sterling payments. It's typically us...

Faster Payments Service

FPS

The Faster Payments Service is a UK payment system that enables near-real-time transfers in pounds s...

PRA

Prudential Regulation Authority

The PRA is the UK's prudential regulator for banks, insurers, and major investment firms. It focuses...

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