Bank of England shareholders issued government stock at the time of nationalisation in 1946

We publish details of a selection of requests made under the Freedom of Information Act 2000, and the information we disclose in response.

Date: 7 August 2020

Disclosure:

All of the Bank of England’s (the ‘Bank’s’) 17,000 shareholders received government stock when the Bank was nationalised in 1946, in this case ‘3% Treasury Stock 1966 or after’. The compensation arrangements were that £400 of the new 3% Stock was paid for every £100 nominal of Bank Stock held, and this was designed to equate to the Bank’s long-standing annual dividend of 12%.

The Bank does not hold a list of names of the shareholders receiving government stock. For many years the Bank was responsible for managing government stock on behalf of HM Treasury in its role as Registrar. In December 2004 this function was transferred to Computershare Investor Services. At that time 3% Treasury Stock had not been repaid and was therefore classed as a ‘live’ stock and any relevant records would have been passed to the new registrars. The stock was finally repaid by the Government in May 2015.

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