| Code | DS/UK/98 |
| Corporate Name | Bank of England Cashier's Department |
| Dates | 1694 - 1980 |
| OtherFormsOfName | Banking Department (1980 -1994); Banking and Market Services (1994 - 2002); Banking Services (2002 - ) |
| Activity | The office of Chief Cashier dates from the foundation of the Bank in 1694. The Cashier's Department, as the principal operational department, undertook the full range of banking services for the Bank's customers, including discounts and advances, handled the Bank's day to day operations in the gilt edged, money and foreign exchange markets and was responsible for the note issue. It also handled issues for the Government and other customers. From 1939 to 1964 it was responsible for Exchange Control. Banking supervision was initially handled within the Department by the Discount Office and later the Banking and Money Market Supervision section (BAMMS), from 1974.
The Department was divided into a number of offices. The Chief Cashier's Office (CCO) was the hub of the department. While the other offices carried out the transactional work associated with their areas of specialisation - maintaining customer's accounts or looking after their securities for example - the CCO oversaw their work, addressed policy issues connected with it and maintained records of it, particularly where these had a general or statistical significance. The CCO was divided into posts which largely corresponded to the transactional areas whose work they oversaw. Exceptions to this were the Issue Office and the Discount Office, which largely managed their own business without the supervision of the CCO.
Under a major reorganisation in 1980, the Cashier's Department lost many of its functions and was renamed the Banking Department, while Banking and Money Markets Supervision (BAMMS) became Banking Supervision Division (BSD). The head of the Banking Department retained the title of Chief Cashier and responsibility for signing Bank notes. |
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