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Your money and the financial system Page 22 Each day the financial system handles millions of transactions. These include your spending in the shops, the payment of your household bills, wages, benefits and withdrawals from highstreet cash machines. PAYMENTS A stable financial system provides the payments services, finance and insurance that are crucial to everyday life. SAVINGS & LOANS INSURANCE The financial system brings together savers and investors to put money to work. Your savings in a bank are turned into mortgages for house purchase, or loans that finance new investment in businesses and create jobs. Insurance companies protect you against the risks in your business or in daily life. With the protection of insurance, businesses can expand with more confidence helping the economy grow.
Page 23 YOUR MONEY AND THE FINANCIAL SYSTEM The Bank of England Museum tells the story of the Bank from its foundation in 1694 to its role today as the nation’s central bank that sets interest rates and keeps the financial system stable. Opening hours Monday – Friday: 10.00am – 5.00pm (last entry 4.45pm) Closed at weekends and Public Bank Holidays Admission is Free Address Bank of England Museum Bartholomew Lane London EC2R 8AH Tel: 020 7601 5545 Email: museum@bankofengland.co.uk Web: www.bankofengland.co.uk
Page 1 and 2: Your money and the financial system
Page 3 and 4: Page 3 The Bank of England is able
Page 5 and 6: Page 5 In the UK, the high-street b
Page 7 and 8: Page 7 Each day the financial syste
Page 9 and 10: Page 9 ASSETS A bank uses its capit
Page 11 and 12: Page 11 A bank is insolvent if its
Page 13 and 14: Page 13 A bank is insolvent if with
Page 15 and 16: Page 15 The Financial Policy Commit
Page 17 and 18: BUILDING SOCIETIES Page 17 The FPC
Page 19 and 20: Page 19 The PRA uses judgement to f
Page 21: Page 21 Only banks and building soc

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