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 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry.
Sterling banknotes are the banknotes in circulation in the United Kingdom and its related territories, denominated in pounds sterling.
The Bank of Scotland plc is a commercial and clearing bank based in Scotland and is part of the Lloyds Banking Group, following the Bank of Scotland's implosion in 2008. The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the Kingdom of Scotland.
Clydesdale Bank is a trading name used by Clydesdale Bank plc for its retail banking operations in Scotland.
Free banking is a monetary arrangement where banks are free to issue their own paper currency (banknotes) while also subject to no special regulations beyond those applicable to most enterprises.
The pound is the currency of the Isle of Man, at parity with sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government.
The Bank Charter Act 1844, sometimes referred to as the Peel Banking Act of 1844, was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England. It is one of the Bank of England Acts 1694 to 1892.
Banking in the United Kingdom can be considered to have started in the Kingdom of England in the 17th century. The first activity in what later came to be known as banking was by goldsmiths who, after the dissolution of English monasteries by Henry VIII, began to accumulate significant stocks of gold.
The Royal Bank of Scotland plc is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established in 1724 to provide a bank with strong Hanoverian and Whig ties.
The Bank of England, which is now the central bank of the United Kingdom, British Crown Dependencies and British Overseas Territories, has issued banknotes since 1694. In 1921 the Bank of England gained a legal monopoly on the issue of banknotes in England and Wales, a process that started with the Bank Charter Act of 1844 when the ability of other banks to issue notes was restricted.
The Country Bankers Act 1826 was an Act of the Parliament of the United Kingdom enacted during the reign of George IV. The Act restricted the issue of banknotes by commercial banks in England and Wales. It relaxed some of the laws of the Bank of England Act 1709, allowing joint-stock banks with more than six partners to issue bank notes, as long as they were located more than 65 miles (105 km) from London.
The Banking Act 2009 is an Act of the Parliament of the United Kingdom that entered into force in part on the 21 February 2009 in order, amongst other things, to replace the Banking Act 2008. The Act makes provision for the nationalisation of banks, amends the law on bank insolvency and administration, and makes provision about the Financial Services Compensation Scheme. It also makes provision about the regulation of inter-bank payment schemes, amends the law on the issue of banknotes by Scottish and Northern Irish banks, and makes other miscellaneous amendments to the law on banking.
The British credit crisis of 1772-1773 also known as the crisis of 1772, or the panic of 1772, was a peacetime financial crisis which originated in London and then spread to Scotland and the Dutch Republic. It has been described as the first modern banking crisis faced by the Bank of England. New colonies, as Adam Smith observed, had an insatiable demand for capital. Accompanying the more tangible evidence of wealth creation was a rapid expansion of credit and banking leading to a rash of speculation and dubious financial innovation. In today’s language, they bought shares on margin.
The Bank of Scotland £5 note, also known informally as a fiver, is a sterling banknote. It is the smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in October 2016, bears the image of Sir Walter Scott on the obverse and a vignette of the Brig o' Doon on the reverse. The polymer replaces a cotton note also featuring a portrait of Sir Walter Scott.
The Bank of Scotland £10 note, also known informally as a tenner, is a sterling banknote. It is the second smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in 2017, bears the image of Sir Walter Scott on the obverse and a vignette of the Glenfinnan Viaduct on the reverse.
The Bank of Scotland £20 note is a sterling banknote. It is the third largest of five banknote denominations issued by the Bank of Scotland. The current polymer note, first issued in 2020, bears the image of Walter Scott on the obverse and a vignette of the Forth Bridge on the reverse.
The Bank of Scotland £50 note is a sterling banknote. It is the second largest of five banknote denominations issued by the Bank of Scotland. The current polymer note, first issued in 2021 bears the image of Walter Scott on the obverse and a vignette of the Falkirk Wheel and The Kelpies on the reverse.
The Bank of Scotland £100 note is a sterling banknote. It is the largest of five banknote denominations issued by the Bank of Scotland. The current polymer note, first issued in 2022 bears the image of Walter Scott on the obverse and Flora Murray on the reverse.
The Clydesdale Bank £5 note, also known informally as a fiver, is a sterling banknote. It is the smallest denomination of banknote issued by the Clydesdale Bank. The current polymer note, first issued in 2015, bears an image of engineer William Arrol on the obverse and an image of the Forth Bridge on the reverse. It is the first fully polymer banknote to go into circulation in the United Kingdom.
The Clydesdale Bank £50 note was a sterling banknote. Until its withdrawal it was the second largest denomination of banknote issued by the Clydesdale Bank. The last cotton note, first issued in 2009 bears a portrait of Elsie Inglis, founder of the Scottish Women's Hospitals, on the obverse and an image of the Antonine Wall on the reverse.
