Editing Bank of England (section)

===Historic services and responsibilities===
Between 1715 and 1998, the Bank of England managed Government Stocks (which formed the bulk of the [[national debt]]): the bank was responsible for issuing stocks to stockholders, paying dividends and maintaining a register of transfers;<ref name="BoEHistFun" /> however in 1998, following the decision to grant the bank operational independence, responsibility for government debt management was transferred to a new [[Debt Management Office (United Kingdom)|Debt Management Office]], which also took over Exchequer cash management and responsibility for issuing Treasury bills from the bank in 2000.<ref>{{cite web |title=Who we are (HM Treasury) |url=https://www.dmo.gov.uk/about/who-we-are/hm-treasury/ |website=United Kingdom Debt Management Office |access-date=10 January 2024}}</ref> [[Computershare]] took over as the registrar for UK Government bonds ([[gilt-edged security|gilt-edged securities]] or 'gilts') from the bank at the end of 2004. The bank, however, continues to act as [[Settlement (finance)|settlement agent]] for the Debt Management Office and custodian of its [[securities]].<ref name="BoEBankServ" />

Ever since its foundation in 1694, the bank had provided a [[retail banking]] service for the Government; however in 2008 it decided to withdraw from offering these services, which are now provided by a range of other financial institutions and managed by the [[Government Banking Service]].

Until 2016, the bank provided personal banking services as a privilege for employees.<ref name="Bank of England to close personal banking service for employees">{{Cite web |last=Topham |first=Gwyn |date=17 July 2016 |title=Bank of England to close personal banking service for employees |url=https://www.theguardian.com/business/2016/jul/17/bank-of-england-closing-personal-banking-service-employees |url-status=live |archive-url=https://web.archive.org/web/20161109090412/https://www.theguardian.com/business/2016/jul/17/bank-of-england-closing-personal-banking-service-employees |archive-date=9 November 2016 |access-date=8 November 2016 |website=[[The Guardian]]}}</ref> Previously, the bank had maintained private and commercial accounts for all sorts of customers, including individuals, small businesses and public organisations; but a change of policy following the [[First World War]] saw the bank increasingly withdraw from this type of business to focus more clearly on its central banking role.<ref>[https://www.gla.ac.uk/media/Media_414002_smxx.pdf ''Western Branch of the Royal Bank of Scotland'' (1993)]</ref>