Dear Bank of England,

We will be grateful if you would kindly confirm:

1. What is a negotiable Instrument?

2. Are Bank Giro Credit Slips, in their own right, negotiable instruments?

Yours faithfully,

Gogos

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gogos

 

You have submitted a number of general questions regarding banking terms
or phrases.

 

The FoI Act provides a general right of access to recorded information
held by a public authority.  It does not require a public authority to
answer general questions on a subject as is the case in this instance.  As
such, we have taken forward your enquiry as a general enquiry, and not
under the FoI Act.

 

I have provided an answer to some of your questions below. For those the
Bank is unable to answer, I have tried to point you in the relevant
direction.

 

1.       What is Lawful Money; and is Lawful Money available today?

 

Lawful money appears to be a phrase used in the United States. It would
appear that in the UK, we do not use this phrase.

 

[1]https://www.investopedia.com/terms/l/law...

 

2.       What is Legal Tender?

 

In England and Wales, legal tender is defined as Bank of England banknotes
and Royal Mint coins. In Scotland and Northern Ireland it is just Royal
Mint coins. For more information, please see:

 

[2]https://www.bankofengland.co.uk/knowledg...

 

3.       Is it possible to convert Legal Tender into Lawful Money today?

 

This question is not clear, as we do not use the phrase ‘lawful money’ in
the UK.

 

4.       What is Cash?

 

The Bank of England does not provide definitions. However, this is a
common name for the medium of exchange people use to buy goods and
services.

 

5.       What is Money?

 

Please see answer to question 4.

 

6.       Is Cash, Money; and is Money, Cash?

 

This is a subjective question for which you can make your own opinion,
based on the answer to question 4.

 

7.       What is a Promissory Note?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Promissory notes are defined in
Section 4 of Negotiable Instrument Act, 1881.

 

8.       Is a Promissory Note, a negotiable instrument?

 

This would be matter of law. As such, I would recommend seeking legal
advice.

 

9.       Is a Promissory Note, legal Tender?

 

Please see answer to question 2

 

10.   Are Bank of England notes, Promissory Notes?

 

A banknote would be considered a promissory note. You may be interested to
know that the Bank of England has the monopoly of note issuance in England
and Wales in accordance with the Bank Charter Act 1844.

 

Under Section 11 of the Bank Charter Act 1844, it is not lawful for any
banker ‘to issue, in England or Wales, any bill of exchange or promissory
note or engagement for the payment of money payable to bearer on demand’.

 

Section 28 of the Act defines ‘banker’ to include ‘all corporations,
societies, partnerships and persons, and every individual person, carrying
on the business of banking, whether by the issue of banknotes or
otherwise’.

 

The Bank also regulates the issuance of banknotes in Scotland and Northern
Ireland under Part 6 of the Banking Act 2009 which established a new
regulatory framework for banknotes issued by certain authorised banks in
Scotland and Northern Ireland.

 

11.   Are Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank
notes, Promissory Notes?

 

Please see answer to question 10.

 

 

12.   Who can issue Promissory Notes?

 

Please see answer to question 10.

 

13.   Are Promissory Notes, Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

14.   What are Letters of Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. However you may find this
definition (found online) of some use:

[3]https://www.investopedia.com/terms/l/let...

 

15.   Who can issue Letters of Credit?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

16.   Are Letters of Credit, negotiable instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

17.   Are Letters of Credit, Legal Tender?

 

Please see answer to question 2

 

18.   Are Letters of Credit, Lawful Money?

 

As ‘lawful money’ is not a phrase used in the UK, we cannot answer this
question.

 

19.   Are Letters of Credit, Promissory Notes?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

20.   Are Letters of Credit, Cash?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

21.   What is a negotiable Instrument?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to define what instruments are. Negotiable instruments are defined
by the Negotiable Instrument Act, 1881.

 

22.   Are Bank Giro Credit Slips, in their own right, negotiable
instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

23.   What is Credit?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[4]https://www.investopedia.com/terms/c/cre...

 

24.   What is Debt?

 

As previously mentioned in question 4, it is not the role of the Bank of
England to provide definitions. However you may find this guide (found
online) of some use:

[5]https://www.investopedia.com/terms/d/deb...

 

25.   Is Deficit, the minus difference of, Credit less Debt?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

26.   What is Currency?

 

Currencies are typically forms of money (mediums of exchange) which
circulate in countries. In the United Kingdom, the currency is pound
sterling. Other countries have different currencies.

 

27.   Is Currency, Legal Tender?

 

Please see answer to question 2.

 

28.   Is Currency, Lawful Money?

 

Please see answer to question 18.

 

29.   Who can issue Currency?

 

In the United Kingdom, physical currency (banknotes and coins) are issued
by the Royal Mint, the Bank of England, and the seven Scottish and
Northern Ireland Issuing Banks. These are: Bank of Scotland, Royal Bank of
Scotland, Clydesdale Bank, Danske Bank, Ulster Bank, First Trust Bank and
Bank of Ireland.

 

30.   Is Currency, Debt?

 

Physical currency is credit to the holder, and a debt against the issuer.
For any specific situations, this would be a matter of law. I would
therefore recommend seeking legal advice.

 

31.   Is Currency, Credit?

 

Please see answer for question 30.

 

32.   Is Currency, Negotiable Instruments?

 

This would be a matter of law. I would therefore recommend seeking legal
advice.

 

 

 

Kind regards

 

Charles

Engagement and Enquiries | Communications

Bank of England|Threadneedle St|London EC2R 8AH|+44 (0)20 3461 4878

[6][Bank of England request email]

 

[7]Bank of England

 

Privacy notice

 

When you contact us, the Bank of England collects information about you. 
This includes your name, contact details and anything you choose to
disclose in your correspondence.

We use your personal data to manage correspondence and (where applicable)
to respond to you.  Our basis to process this data is that it is necessary
for the performance of a task carried out in the public interest or in the
exercise of official authority of the Bank.

We will keep your personal data for 10 years. You can request that we no
longer use your personal data, by contacting us via the website link
below.

To find out more about the Bank’s approach to privacy, your data
protection rights, to make a complaint, or to contact our Data Protection
Officer, please see our website at [8]www.bankofengland.co.uk/privacy

 

Please note, a copy of all incoming correspondence and enclosures where
practicable will be filed electronically in the Bank of England's record
management system in accordance with its standard record management policy
and statutory obligations. If you become aware of any copyright work that
you consider should not be filed in this way, please let us know and we
will review whether it may be excluded from electronic filing.

 

show quoted sections