History·16 March 2026·4 min read
The Bank of England — the model of the modern central bank
Founded in 1694 to fund a war, it became the model on which the world's central banks were built.
The Bank of England was founded in 1694 to lend money to the English state at war. In return, it received the right to issue banknotes — a model later copied around the world.
The "Old Lady"
Nicknamed the "Old Lady of Threadneedle Street", the Bank of England set the rules of the game: an institution that issues the currency, keeps the gold reserve and stabilizes the system. Our BNR is, in spirit, an heir of it.
