bankbanks

Updated: August 31, 2025

By old usage, the directors of the Bank of England cannot be themselves by trade bankers. This is a relic of old times. Every bank was supposed to be necessarily, more or less, in opposition to every other bankbanks in the same place to be especially in opposition. In consequence, in London, no banker has a chance of being a Bank director, or would ever think of attempting to be one.

Walter Bagehot - Lombard Street : a description of the money market