Dear Bank of England,

I would like information on the following throught the freedom of information act.

1. When the Bank of England was nationalised back in the 1940s, was this the whole of the Bank or just the building? by that i mean, was the inside of the Bank (trading) still privatised to the bankers and the building nationalised to the public?

2.If the Bank of England is a central bank, how can it be owned by the public?

3. What does the "of" stand for in Bank of England? i believe it is part "of" the City of London Corporation so why does it say Bank of England?

Yours faithfully,

b ovens

Enquiries, Bank of England

We acknowledge receipt of your e-mail dated 5 March (our ref FF 24002).

We will reply in due course.

If you have any queries please contact the Bank's Public Information and Enquiries Group on 020 7601 4878.

Public Information and Enquiries Group
Bank of England

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Enquiries, Bank of England

1 Attachment

Dear Mr Ovens

Please find attached response to your enquiry below.

Yours sincerely

Public Information and Enquiries Group
Bank of England

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Dear Enquiries,
Thanks for the reply, but you missed out some replies to my questions.

1. What does the "of" stand for in the Bank of England?

2. Is the whole of the Bank of England nationalised or just the building and not the trading inside?

3. If the bank belongs to the public, then why do we need to pay interest on the money being loaned to the Government,if the trading belongs to us then why are we paying interest on our own money?

Yours sincerely,

b ovens

Enquiries, Bank of England

We acknowledge receipt of your e-mail dated 26 March (our ref FF 24060).

We will reply in due course.

If you have any queries please contact the Bank's Public Information and Enquiries Group on 020 7601 4878.

Public Information and Enquiries Group
Bank of England

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Enquiries, Bank of England

1 Attachment

Dear Mr Ovens

Please find attached the response to your enquiry of 26 March.

Kind regards
Public Information and Enquiries Group
Bank of England

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Tridy Werner left an annotation ()

Brian some suggestions on what you might look into;

Questions about the nationalisation of the bank.
Was it simply taken by the government, was there any compensation monetary or otherwise?

Who owns/ controls HM Treasury? HM?
Who owns/ controls HM?

Who/ what does the interest go to and for what purposes is it used?

Also as you may know much of English business in conducted in an informal private way. And the Bank also has the secrets Act and Royal Charter for concealment.

from wikipedia
In 1977, the Bank set up a wholly owned subsidiary called Bank of England Nominees Limited, (BOEN), a private limited company, with 2 of its 100 £1 shares issued. According to its Memorandum & Articles of Association, its objectives are:- “To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….” Bank of England Nominees Limited was granted an exemption by Edmund Dell, Secretary of State for Trade, from the disclosure requirements under Section 27(9) of the Companies Act 1976 , because, “it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.” The Bank of England is also protected by its Royal Charter status, and the Official Secrets Act.

Lux Balder left an annotation ()

The Bank of England Act 1946 does not mention the words Own or Ownership.

According to the act, Bank of England's Stock is to be Held by for the treasury by a third party and the Bank of England must pay 25% of it's profits to the treasury.

To hold an item is not the same as owning and item.

There is another act relating to the Bank of England which protects the privacy of the owners of the Bank of England and so to make the list of owners of the Bank of England public would be a violation of that act.

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