Who funds the Bank of England?

Who funds the Bank of England?

The Bank of England website explains “Some of our funding comes from printing banknotes. While we only spend a few pence to print each note, banks buy them from us at their face value: £5, £10, £20 or £50. We invest this money in financial assets like government debt, which pays interest and so generates an income.”

“Banks and building societies also fund our work to set interest rates and protect the financial system.  We require that they place an interest-free deposit with us. Just like printing banknotes, we earn an income by investing the deposits in financial assets that pay interest.” Read more  

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