The Cashier's Department is the principal operational department of the Bank. It undertakes a full range of banking services for the Bank's customers, handles the Bank's day-to-day operations in the gilt-edged, money and foreign exchange markets, and is responsible for the management of the note issue; the department also acts as an issuing house on behalf of the Government and certain other customers. This article describes how the department is organised to discharge these responsibilities. It does not attempt to deal with the Bank's operations and policy objectives in these fields, which have been described in a number of articles in earlier issues of the Bulletin. Nor does it discuss the close links maintained between the Cashier's Department and other departments of the Bank.
The work of the Cashiers Department