Theory and Practice of Central Banking Evolution
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Central Banking (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 70 rapid-fire Q&A cards.
Which is recognised as the world's first central bank and in which year was it established?
Sveriges Riksbank, Sweden, established in 1668.
In which year was the Riksbank endowed with the monopoly of note issue?
In 1897.
In which year was the Bank of England founded and under what instrument?
1694, under a Royal Charter of the United Kingdom.
By what nickname is the Bank of England popularly known?
The Old Lady of Threadneedle Street.
Who initiated the Bank of England and how much did he raise?
Scotsman William Paterson, who raised £1.2 million by subscription and lent it to the Government.
Which crisis did the Bank of England survive, marking the first practical lender-of-last-resort exercise?
The South Sea Bubble crash of the 1720s.
Which Act granted the Bank of England a monopoly of note issue in England and Wales?
The Bank Charter Act, 1844.
When was the Bank of England nationalised and when given operational independence?
Nationalised in 1946; granted operational independence in 1997 by Chancellor Gordon Brown.
PDF study notes
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