The Old Lady of Threadneedle Street holds some pretty powerful purse strings. Known more universally as the Bank of England, this central bank for the UK (founded in 1694) is responsible for setting monetary policy and keeping the nation's economy stable. It sets interest rates, manages the government's stock register, and strives to educate the public about monetary policy -- but it no longer prints banknotes. It also is the bankers' bank, lending money to other financial institutions. Besides its role within the UK government, the bank also assists central banks of numerous foreign nations. The Bank of England was instrumental in preparing for the UK's participation in the European Monetary Union.