Overview:The Bank of England serves as the central bank of the United Kingdom. It operates the real time gross settlement system through which payments relating to the United Kingdom payments and securities settlement systems are settled, maintaining monetary and financial stability as well as the note issue. It also offers banking services to the government and other customers, principally central banks, and other financial institutions. The Bank of England acts as the agent for HM Treasury in managing the United Kingdom’s foreign currency assets and gold reserves, and its foreign currency liabilities; and promotes the case for price stability and understanding of the current framework through the media of publications, speeches, and education programs. It also sets the bank’s official rate, the primary instrument of monetary policy; deals in the foreign exchange market; maintains the stability of the financial system by monitoring and analyzing the behavior of participants in the financial system, and the financial and economic environment; and offers technical assistance and advice to other central banks, through its center for Central Banking Studies. The company was founded in 1694 and is headquartered in London, the United Kingdom. It is the second oldest central bank in the world.