Old Lady

AAA

DEFINITION of 'Old Lady'

An eighteenth century nickname for the Bank of England. The full name is the Old Lady of Threadneedle Street, which refers to the bank's location. The Bank of England is located in the middle of the city of London on Threadneedle Street.

INVESTOPEDIA EXPLAINS 'Old Lady'

James Gillray first used the nickname in a caricature cartoon in 1797. The cartoon was entitled "The Old Lady of Threadneedle Street in Danger", which some say pokes fun of the Bank of England for stopping cash payments. The Old Lady is seen dressed in one-pound bank notes, which the Bank of England used to compensate for the lack of cash reserves.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Central Bank

    The entity responsible for overseeing the monetary system for ...
  3. Lender Of Last Resort

    An institution, usually a country's central bank, that offers ...
  4. Bank of England - BoE

    The Bank of England is the central bank for the United Kingdom. ...
  5. Federal Reserve System - FRS

    The central bank of the United States. The Fed, as it is commonly ...
  6. Iraqi Central Bank

    The main banking entity responsible for supervision and management ...
RELATED FAQS
  1. What do banks do to control the bank reserve?

    While all banks are required to maintain a specific amount of bank reserves, the banks themselves do not control the minimum ... Read Full Answer >>
  2. What are the components of a financial account?

    The components of a country's financial account are its domestic ownership of foreign assets and the foreign ownership of ... Read Full Answer >>
  3. What strategies can be used to achieve the goals of contractionary policy?

    In the United States, the Federal Reserve is charged with controlling monetary policy, and Congress (along with the executive ... Read Full Answer >>
  4. What role does credit play in the economic boom and bust cycle?

    A great deal of economic literature has been written about the nature of economic cycles, and it has usually led to even ... Read Full Answer >>
  5. How is bond yield affected by monetary policy?

    Bond yields are significantly affected by monetary policy. Monetary policy at its core is about determining interest rates. ... Read Full Answer >>
  6. What are the major categories of financial institutions and what are their primary ...

    In today's financial services marketplace, a financial institution exists to provide a wide variety of deposit, lending and ... Read Full Answer >>
Related Articles
  1. Personal Finance

    How The U.S. Government Formulates Monetary Policy

    Learn about the tools the Fed uses to influence interest rates and general economic conditions.
  2. Forex Education

    Get To Know The Major Central Banks

    The policies of these banks affect the currency market like nothing else. See what makes them tick.
  3. Personal Finance

    What Are Central Banks?

    They print money, they control inflation, and much, much more. All you need to know about central banks is here.
  4. Investing Basics

    Understanding Related-Party Transactions

    In business, a related-party transaction refers to a transaction where parties on both sides have a common interest or relationship.
  5. Economics

    What are Deliverables?

    Deliverables is a project management term describing an object or function that must be provided or completed by a certain due date.
  6. Economics

    The Most Likely Outcome For Greece

    After more than five years of a Greek drama, most of us have become fatigued with hearing about Greece’s debt problems, the one issue that won’t go away.
  7. Investing

    What’s Driving Markets Today

    While U.S. stocks managed to eke out modest gains last week, it wasn’t without some violent swings along the way.
  8. Economics

    How Central Banks Control The Supply Of Money

    A look at the ways central banks pump or drain money from the economy to keep it healthy.
  9. Economics

    When Global Economies Converge

    The Divergences in global economic look very much like an explanation for what happened last year, though market observers continue to tout about it.
  10. Economics

    What Is Deflation And How Do Central Banks Fight It?

    The measures taken by central banks seem to be winning the battle against deflation, but it is too early to tell if they have won the war.

You May Also Like

Hot Definitions
  1. Radner Equilibrium

    A theory suggesting that if economic decision makers have unlimited computational capacity for choice among strategies, then ...
  2. Inbound Cash Flow

    Any currency that a company or individual receives through conducting a transaction with another party. Inbound cash flow ...
  3. Social Security

    A United States federal program of social insurance and benefits developed in 1935. The Social Security program's benefits ...
  4. American Dream

    The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version ...
  5. Multicurrency Note Facility

    A credit facility that finances short- to medium-term Euro notes. Multicurrency note facilities are denominated in many currencies. ...
  6. National Currency

    The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!