Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank, it was owned by stockholders from its foundation in 1694 until it was nationalised in 1946. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, but with independence in setting monetary policy; the Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has a devolved responsibility for managing monetary policy; the Treasury has reserve powers to give orders to the committee "if they are required in the public interest and by extreme economic circumstances", but such orders must be endorsed by Parliament within 28 days.
The Bank's Financial Policy Committee held its first meeting in June 2011 as a macroprudential regulator to oversee regulation of the UK's financial sector. The Bank's headquarters have been in London's main financial district, the City of London, on Threadneedle Street, since 1734, it is sometimes known as The Old Lady of Threadneedle Street, a name taken from a satirical cartoon by James Gillray in 1797. The road junction outside is known as Bank junction; as a regulator and central bank, the Bank of England has not offered consumer banking services for many years, but it still does manage some public-facing services such as exchanging superseded bank notes. Until 2016, the bank provided personal banking services as a privilege for employees. England's crushing defeat by France, the dominant naval power, in naval engagements culminating in the 1690 Battle of Beachy Head, became the catalyst for England rebuilding itself as a global power. England had no choice. No public funds were available, the credit of William III's government was so low in London that it was impossible for it to borrow the £1,200,000 that the government wanted.
To induce subscription to the loan, the subscribers were to be incorporated by the name of the Governor and Company of the Bank of England. The Bank was given exclusive possession of the government's balances, was the only limited-liability corporation allowed to issue bank notes; the lenders would give the government cash and issue notes against the government bonds, which can be lent again. The £1.2m was raised in 12 days. As a side effect, the huge industrial effort needed, including establishing ironworks to make more nails and advances in agriculture feeding the quadrupled strength of the navy, started to transform the economy; this helped the new Kingdom of Great Britain – England and Scotland were formally united in 1707 – to become powerful. The power of the navy made Britain the dominant world power in the late 18th and early 19th centuries; the establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694. The plan of 1691, proposed by William Paterson three years before, had not been acted upon.
58 years earlier, in 1636, Financier to the king, Philip Burlamachi, had proposed the same idea in a letter addressed to Sir Francis Windebank. He proposed a loan of £1.2m to the government. The royal charter was granted on 27 July through the passage of the Tonnage Act 1694. Public finances were in such dire condition at the time that the terms of the loan were that it was to be serviced at a rate of 8% per annum, there was a service charge of £4,000 per annum for the management of the loan; the first governor was Sir John Houblon, depicted in the £50 note issued in 1994. The charter was renewed in 1742, 1764, 1781; the Bank's original home was in Walbrook, a street in the City of London, where during reconstruction in 1954 archaeologists found the remains of a Roman temple of Mithras. The Bank moved to its current location in Threadneedle Street in 1734, thereafter acquired neighbouring land to create the site necessary for erecting the Bank's original home at this location, under the direction of its chief architect Sir John Soane, between 1790 and 1827.
When the idea and reality of the national debt came about during the 18th century, this was managed by the Bank. During the American war of independence, business for the Bank was so good that George Washington remained a shareholder throughout the period. By the charter renewal in 1781 it was the bankers' bank – keeping enough gold to pay its notes on demand until 26 February 1797 when war had so diminished gold reserves that – following an invasion scare caused by the Battle of Fishguard days earlier – the government prohibited the Bank from paying out in gold by the passing of the Bank Restriction Act 1797; this prohibition lasted until 1821. The 1844 Bank Charter Act tied the issue of notes to the gold reserves and gave the Bank sol
Bank of Ireland
Bank of Ireland Group plc is a commercial bank operation in Ireland and one of the traditional'Big Four' Irish banks. The premier banking organisation in Ireland, the Bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Bank of Ireland, the ancient institution established by Royal Charter in 1783. Bank of Ireland is the oldest bank in continuous operation in Ireland; the history is. 1783 – 25 June 1783, the Bank of Ireland opened for business at Mary's Abbey in a private house owned by one Charles Blakeney. 1808 – 6 June 1808, Bank of Ireland moved to 2 College Green. 1864 – Bank of Ireland first pays interest on deposits. 1926 – The Bank of Ireland took control of the National Land Bank – a friendly society. 1948 – The Bank of Ireland 1783–1946 by F. G. Hall was published jointly by Hodges Figgis and Blackwell's. 1958 – The Bank took over the Hibernian Bank Limited. 1965 – The National Bank Ltd, a bank founded by Daniel O'Connell in 1835, had branches in Ireland and Britain.
The Irish branches were acquired by Bank of Ireland and rebranded temporarily as National Bank of Ireland, before being incorporated into Bank of Ireland. The British branches were acquired by Glyn's Bank. 1980 - The first Pass card and machine were open known as ATM. 1983 – Bank of Ireland Bi-Centenary. A commemorative stamp was issued; the Bank commissioned the publication of "An Irish Florilegium". 1995 – Bank of Ireland merge First New Hampshire Bank with Royal Bank of Scotland's Citizens Financial Group 1996 – Bank of Ireland buys the Bristol and West building society for €882m, which keeps its own brand. 1999 – Merger talks with Alliance & Leicester were held and called off. 2000 – It is announced that Bank of Ireland is to acquire Chase de Vere. 2002 – Bank of Ireland acquires Iridian, the US investment manager, which doubles the size of its asset management business. 2005 – Bank of Ireland completes the sale of the Bristol and West branch and Direct Savings to Britannia Building Society.
2008 – Moody's Investors Service changed its outlook on Bank of Ireland from stable to negative. Moody's pinpointed concerns over weakening asset quality and the impact of a more challenging economic environment on profitability at Bank of Ireland. A share price collapse followed. 2009 – The Irish government announces a €7 billion rescue package for the bank and Allied Irish Banks plc in February. The biggest bank robbery in the history of the state took place at Bank of Ireland at College Green. Consultants Oliver Wyman validated Bank of Ireland's bad debt levels at €6 billion over three years to March 2011, a bad debt level, exceeded by €1 billion within a matter of months. 2010 – The European Commission orders the disposal of Bank of Ireland Asset Management, New Ireland Assurance, ICS Building Society, its US Foreign Exchange business and the stakes held in the Irish Credit Bureau and in an American Asset Manager followed the receipt of Irish Government State aid. 2011 – The Securities Services Division is sold to Northern Trust Corporation.
2013 – Bank of Ireland more than doubles interest rates on mortgages tracking the Bank of England rates, citing the need to hold more reserves and the'increased cost of funding mortgages'. Described by Ray Boulger of broker John Charcol as'having shot the reputation of its mortgages to smithereens' the bank continues to offer competitive mortgages through the Post Office. 2014 – Regulation of the bank will transfer to the European Central Bank. 2014 – Enters marketing alliance with EVO Payments International and re-enters the card acquiring market. BOI Payment Acceptance launches in December 2014; the Bank of Ireland is not, was never, the Irish central bank. However, as well as being a commercial bank – a deposit-taker and a credit institution – it performed many central bank functions, much like the earlier-established Bank of Scotland and Bank of England; the Bank of Ireland operated the Exchequer Account and during the nineteenth century acted as something of a banker of last resort. The titles of the chairman of the board of directors and the title of the board itself suggest a central bank status.
From the foundation of the Irish Free State in 1922 until 31 December 1971, the Bank of Ireland was the banker of the Irish Government. The headquarters of the bank until the 1970s was the impressive Parliament House on College Green, Dublin; this building was designed by Sir Edward Lovett Pearce in 1729 to host the Irish Parliament, it was the world's first purpose-built bicameral parliament building. The bank had planned to commission a building designed by Sir John Soane to be constructed on the site bounded by Westmoreland Street, Fleet Street, College Street and D'Olier Street. However, the project was cancelled following the Act of Union in 1800, when the newly defunct Parliament House was bought by the Bank of Ireland in 1803; the former Parliament House continues today as a working branch. Today, visitors can still view the impressive Irish House of Lords chamber within the old headquarters building; the Oireachtas, the modern parliament of the Republic of Ireland, is now housed in Leinster House in Dublin.
In 2011, the Irish Government set out proposals to acquire the building as a venue for the state to use as a cultural venue. In the 1970s the bank moved its headquarters to a modern building on Lower Baggot Street, Dublin 2; as Frank McDonald notes in his book Destructi
British Overseas Territories
The British Overseas Territories or United Kingdom Overseas Territories are 14 territories under the jurisdiction and sovereignty of the United Kingdom. They are remnants of the British Empire that have not been granted independence or have voted to remain British territories; these territories do not form part of the United Kingdom and, with the exception of Gibraltar, are not part of the European Union. Most of the permanently inhabited territories are internally self-governing, with the UK retaining responsibility for defence and foreign relations. Three are inhabited only by a transitory population of scientific personnel, they all share the British monarch as head of state. As of April 2018 the Minister responsible for the Territories excluding the Falkland Islands and the Sovereign Base Areas on Cyprus, is the Minister of State for the Commonwealth and the UN; the other three territories are the responsibility of the Minister of State for Europe and the Americas. The fourteen British Overseas Territories are: The term "British Overseas Territory" was introduced by the British Overseas Territories Act 2002, replacing the term British Dependent Territory, introduced by the British Nationality Act 1981.
Prior to 1 January 1983, the territories were referred to as British Crown Colonies. Although the Crown dependencies of Jersey and the Isle of Man are under the sovereignty of the British monarch, they are in a different constitutional relationship with the United Kingdom; the British Overseas Territories and Crown Dependencies are themselves distinct from the Commonwealth realms, a group of 16 independent countries each having Elizabeth II as their reigning monarch, from the Commonwealth of Nations, a voluntary association of 53 countries with historic links to the British Empire. With the exceptions of the British Antarctic Territory and South Georgia and the South Sandwich Islands and the British Indian Ocean Territory, the Territories retain permanent civilian populations. Permanent residency for the 7,000 civilians living in the Sovereign Base Areas of Akrotiri and Dhekelia is limited to citizens of the Republic of Cyprus. Collectively, the Territories encompass a population of about 250,000 people and a land area of about 1,727,570 square kilometres.
The vast majority of this land area, 1,700,000 square kilometres, constitutes the uninhabited British Antarctic Territory, while the largest territory by population, accounts for a quarter of the total BOT population. At the other end of the scale, three territories have no civilian population. Pitcairn Islands, settled by the survivors of the Mutiny on the Bounty, is the smallest settled territory with 49 inhabitants, while the smallest by land area is Gibraltar on the southern tip of the Iberian peninsula; the United Kingdom participates in the Antarctic Treaty System and, as part of a mutual agreement, the British Antarctic Territory is recognised by four of the six other sovereign nations making claims to Antarctic territory. Early colonies, in the sense of English subjects residing in lands hitherto outside the control of the English government, were known as "Plantations"; the first, colony was Newfoundland, where English fishermen set up seasonal camps in the 16th century. It is now a province of Canada known as Labrador.
It retains strong cultural ties with Britain. English colonisation of North America began in 1607 with the settlement of Jamestown, the first successful permanent colony in Virginia, its offshoot, was settled inadvertently after the wrecking of the Virginia company's flagship there in 1609, with the Virginia Company's charter extended to include the archipelago in 1612. St. George's town, founded in Bermuda in that year, remains the oldest continuously inhabited British settlement in the New World. Bermuda and Bermudians have played important, sometimes pivotal, but underestimated or unacknowledged roles in the shaping of the English and British trans-Atlantic Empires; these include maritime commerce, settlement of the continent and of the West Indies, the projection of naval power via the colony's privateers, among other areas. The growth of the British Empire in the 19th century, to its territorial peak in the 1920s, saw Britain acquire nearly one quarter of the world's land mass, including territories with large indigenous populations in Asia and Africa.
From the mid-nineteenth century to the early twentieth century, the larger settler colonies – in Canada, New Zealand and South Africa – first became self-governing colonies and achieved independence in all matters except foreign policy and trade. Separate self-governing colonies federated to become Canada, South Africa, Rhodesia; these and other large self-governing colonies had become known as Dominions by the 1920s. The Dominions achieved full independence with the Statute of Westminster. Through a process of decolonisation following the Second World War, most of the British colonies in Africa and the Caribbean gained independence; some colonies becam
Clydesdale Bank plc is a commercial bank in Scotland. Formed in Glasgow in 1838, it is the smallest of the three Scottish banks. Independent until it was purchased by Midland Bank in 1920, it formed part of the National Australia Bank Group between 1987 and 2016. Clydesdale Bank was divested from National Australia Bank in early 2016 and its holding company CYBG plc, trades on the London and Sydney stock exchanges. CYBG plc's other banking business, Yorkshire Bank operates as a trading division of Clydesdale Bank plc under its banking licence. In June 2018, it was announced that Clydesdale Bank's holding company CYBG would acquire Virgin Money for £1.7 billion in an all-stock deal, that the Clydesdale and Yorkshire Bank brands would be phased out in favour of retaining Virgin's brand. As with two other Scottish banks, the Bank of Scotland and the Royal Bank of Scotland, Clydesdale Bank retains the right to issue its own banknotes. In March 1838, an advertisement appeared for a new joint stock banking company in Glasgow, the Clydesdale Banking Company.
It was to be "chiefly a local bank – having few branches – but correspondents everywhere" though it was conceded that a branch in Edinburgh would be necessary. The Bank duly opened for business in both cities in May 1838. Checkland described the Bank as the creation of "a group of Glasgow businessmen of middling order, liberal radicals…who were active in the government and charities of the city."The driving figure behind the formation of the Bank was James Lumsden, a stationer by business, a councillor, police commissioner and Lord Provost of Glasgow. Another member of the founding committee, Henry Brock, became the Bank's first manager. Brock came of a merchant family, was an accountant and one of the founders of the Glasgow Savings Bank. Despite the declaration in the advertisement, in the year after formation the Bank opened three Glasgow branches as well as its first country branches in Campbeltown and Falkirk; these were supplemented by the acquisition of the Greenock Union Bank. Following the purchase of the Greenock Union, there was little change in the structure of the Bank and there were still only 13 branches in 1857.
In that year, Clydesdale became the first Scottish bank to produce a printed balance sheet, it showed assets of £2.7 million and net profits of £70,000. The public disclosure of its strength stood it in good stead, for only months the Western Bank of Scotland closed its doors, followed the next day by the first closure of the City of Glasgow Bank. Clydesdale gained not only customers but 13 branches from the Western. A few months came the acquisition of the Edinburgh and Glasgow Bank, weakened by the same economic disturbances; the Edinburgh & Leith Bank, as it was had been formed in 1838 "for the benefit of the'industrious middle classes'" and it had bought the Dumfries-based Southern Bank of Scotland in 1842 and the Glasgow Joint Stock Bank in 1844, the latter leading to the change of name to Edinburgh & Glasgow Bank. Poor lending in the 1845–47 period to Australia, dogged the Bank for the next ten years and it was taken over by the Clydesdale for a nil consideration. Five years in 1863, Clydesdale acquired the more successful Eastern Bank of Scotland, like Clydesdale founded in 1838.
Based in Dundee it was to have one in Dundee, the other Edinburgh. Before opening for business it acquired the Dundee Commercial Bank to serve as its Dundee office. Difficulties with the two boards working together led to the Edinburgh bank being wound up and the Eastern became an Dundee bank. Much of the growth in the Bank's network had come from acquisitions and the management remained cautious regarding direct branch expansion. However, in 1865, a committee was formed to look at prospects and 16 branches were opened in two years. In 1874 the Clydesdale went south of the border and opened three branches in Cumberland but this was seen as following existing trade rather than making a specific attempt to enter the English market. Indeed, Clydesdale was one of the last Scottish banks to acquire a London office. In 1878, the City of Glasgow Bank failed for the second time, leading again to an increase in Clydesdale's deposits and the acquisition of nine of the Glasgow branches; the scale of the collapse led to further debate on desirability of limited liability and, following legislation in 1879, Clydesdale Bank registered as a limited liability company in 1882.
Reid described the period 1890–1914 as "the tranquil years", but that did not preclude steady expansion of the branch network – from 92 to 153. That was to mark the end of Clydesdale's independent existence. In 1917 the Bank was approached by London City and Midland and, although resisted, Clydesdale Bank was sold in 1920. However, it continued to operate independently and was always referred to as an affiliate, not a subsidiary; the Glasgow banks suffered more than others in the depressed economy of the inter-war period and from being the largest lender in Scotland in 1920, it fell to fifth place by 1939. Despite this, the Bank continued to open branches in areas enjoying export growth, the network increased from 158 in 1919 to 205 in 1939. Midland had acquired the North of Scotland Bank in 1923 but the Aberdeen management had fiercely resisted any attempt to merge with Clydesdale. However, the changed competitive market after the Second World War meant that the two banks co
Mercury is a major god in Roman religion and mythology, being one of the 12 Dii Consentes within the ancient Roman pantheon. He is the god of financial gain, eloquence, communication, boundaries, luck and thieves, he was considered the son of Maia, a daughter of the Titan Atlas, Jupiter in Roman mythology. His name is related to the Latin word merx and merces. In his earliest forms, he appears to have been related to the Etruscan deity Turms, he is depicted holding the caduceus in his left hand. Similar to his Greek equivalent Hermes, he was awarded the caduceus by Apollo who handed him a magic wand, which turned into the caduceus. Mercury did not appear among the numinous di indigetes of early Roman religion. Rather, he subsumed the earlier Dei Lucrii as Roman religion was syncretized with Greek religion during the time of the Roman Republic, starting around the 4th century BC. From the beginning, Mercury had the same aspects as Hermes, wearing winged shoes and a winged hat, carrying the caduceus, a herald's staff with two entwined snakes, Apollo's gift to Hermes.
He was accompanied by a cockerel, herald of the new day, a ram or goat, symbolizing fertility, a tortoise, referring to Mercury's legendary invention of the lyre from a tortoise shell. Like Hermes, he was a god of messages, eloquence and of trade of the grain trade. Mercury was considered a god of abundance and commercial success in Gaul, where he was said to have been revered, he was like Hermes, the Romans' psychopomp, leading newly deceased souls to the afterlife. Additionally, Ovid wrote that Mercury carried Morpheus' dreams from the valley of Somnus to sleeping humans. Archeological evidence from Pompeii suggests; the god of commerce was depicted on two early bronze coins of the Roman Republic, the Sextans and the Semuncia. When they described the gods of Celtic and Germanic tribes, rather than considering them separate deities, the Romans interpreted them as local manifestations or aspects of their own gods, a cultural trait called the interpretatio Romana. Mercury, in particular, was reported as becoming popular among the nations the Roman Empire conquered.
This is because, in the Roman syncretism, Mercury was equated with the Celtic god Lugus, in this aspect was accompanied by the Celtic goddess Rosmerta. Although Lugus may have been a deity of light or the sun, similar to the Roman Apollo, his importance as a god of trade made him more comparable to Mercury, Apollo was instead equated with the Celtic deity Belenus. Romans associated Mercury with the Germanic god Wotan, by interpretatio Romana. Mercury is known to the Romans as Mercurius and in earlier writings as Merqurius, Mirqurios or Mircurios, had a number of epithets representing different aspects or roles, or representing syncretisms with non-Roman deities; the most common and significant of these epithets included the following: Mercurius Artaios, a syncretism of Mercury with the Celtic god Artaios, a deity of bears and hunting, worshiped at Beaucroissant, France. Mercurius Arvernus, a syncretism of the Celtic Arvernus with Mercury. Arvernus was worshiped in the Rhineland as a particular deity of the Arverni tribe, though no dedications to Mercurius Arvernus occur in their territory in the Auvergne region of central France.
Mercurius Cimbrianus, a syncretism of Mercury with a god of the Cimbri sometimes thought to represent Odin. Mercurius Cissonius, a combination of Mercury with the Celtic god Cissonius, written of in the area spanning from Cologne, Germany to Saintes, France. Mercurius Esibraeus, a syncretism of the Iberian deity Esibraeus with the Roman deity Mercury. Esibraeus is mentioned only in an inscription found at Medelim, is the same deity as Banda Isibraiegus, invoked in an inscription from the nearby village of Bemposta. Mercurius Gebrinius, a syncretism of Mercury with the Celtic or Germanic Gebrinius, known from an inscription on an altar in Bonn, Germany. Mercurius Moccus, from a Celtic god, equated with Mercury, known from evidence at Langres, France; the name Moccus implies. Mercurius Sobrius, a syncretism of Mercury with a Carthaginian god of commerce. Mercurius Visucius, a syncretism of the Celtic god Visucius with the Roman god Mercury, attested in an inscription from Stuttgart, Germany. Visucius was worshiped in the frontier area of the empire in Gaul and Germany.
Although he was associated with Mercury, Visucius was sometimes linked to the Roman god Mars, as a dedicatory inscription to "Mars Visucius" and Visucia, Visicius' female counterpart, was found in Gaul. In Virgil's Aeneid, Mercury reminds Aeneas of his mission to found the city of Rome. In Ovid's Fasti, Mercury is assigned to escort the
Danske Bank (Northern Ireland)
Danske Bank UK is a commercial bank in Northern Ireland. Northern Bank was one of the oldest banks in Ireland having been formed in 1809, formed part of one of the Big Four banks in Ireland. Northern Bank took on the name of its parent company Danske Bank as its trading name in November 2012; the bank is considered one of the leading retail banks in Northern Ireland with 44 branches and 3 finance centres. Danske Bank is one of the four commercial banks in Northern Ireland which are permitted to issue their own banknotes. Danske Bank UK is a standalone business unit within the Danske Bank Group and operates under a UK banking licence. Northern Bank was founded in Belfast in 1809 as the Northern Banking Partnership; the bank expanded across Ireland, opening its first branch in the south in 1840. In 1965, the Northern Banking Company Limited was acquired by the Midland Bank, a London-based bank which had acquired the Belfast Bank in 1917. In 1970, the Midland's two Northern Ireland subsidiaries were merged to form Northern Bank Limited.
Under Midland's ownership, Northern Bank shared the Griffin logo. In 1986, Midland re-organised its British and Irish operations, as part of this process it separated its Northern Bank branches in the Republic of Ireland and transferred into a newly formed company called Northern Bank Limited. Midland Bank ran into severe financial difficulty as a result of its 1981 acquisition of Crocker National Bank in the USA and was forced to divest itself of assets to restore stability. In 1988, Midland sold off its subsidiaries, namely the Clydesdale Bank in Scotland, Northern Bank Limited and Northern Bank Limited, all of which were acquired by National Australia Bank. After this, Northern Bank Limited was renamed National Irish Bank; the Northern Bank brand name continued in Northern Ireland, but a new logo was introduced, a stylised "N" in a hexagon shape. In 2002, the bank's logotype was changed to match that of the National Australia Bank. In December 2004, the Denmark-based Danske Bank Group agreed to acquire Northern Bank and National Irish Bank for £967m.
The sale of the two banks marked National Australia Bank's exit from the Irish banking markets. Don Price remained as CEO, but was replaced by Gerry Mallon in June 2008; the acquisition was completed in 2005 and Danske Bank invested £100m in Northern Bank. As part of this process, National Irish Bank was separated from the Northern Bank and given its own dedicated management team. Both Northern & National Irish Bank migrated over to Danske Bank's technology platform with a centralised contact centre set up to deal with all incoming calls to the branches of both banks. From April 2006 the two banks adopted new corporate identities which were based on a variation of the Danske Bank logo. On 1 June 2012, brand separation between Northern Bank and National Irish Bank was reversed, with the two banks merged under the Northern Bank management team. On 19 November 2012 the bank formally dropped its Northern Bank name and began trading as Danske Bank; the first Danish branding was unveiled with new signage at the company's head office in Donegall Square.
Since the rebrand, cheques issued by the bank bear the legend "Danske Bank is a trading name of Northern Bank Limited". Danske Bank continues to issue pound sterling banknotes in Northern Ireland, notes issued since 2013 now bear the Danske Bank brand name. In 2008, Northern Bank embarked on a £3m investment programme to upgrade facilities at three of its Northern Ireland branches; as of November 2015, Kevin Kingston is CEO of Danske Bank UK, having been Deputy CEO. Stephen Matchett is Managing Director of Strategy & Corporate Development. Shaun McAnee is managing director of Corporate & Business Banking with responsibility for corporate banking, FX markets, specialist business, regional business centres, agri-business and business acquisition. Richard Caldwell is managing director of Personal Banking & Small Business incorporating branches, mortgage business, private banking, customer contact centres and small business. In common with the other Big Four retail banks of Northern Ireland, Northern Bank trading as Danske Bank continues to issue its own banknotes, a practice, abolished in England and Wales in the early Twentieth Century.
Danske Bank notes are pound sterling notes and equal in value to Bank of England notes and should not be confused with banknotes of the former Irish pound, a separate currency, replaced by the Euro in the Republic of Ireland in 2002. Following the acquisition of Northern Bank by Danske Bank, banknotes issued since June 2013 now bear Danske Bank branding in place of the Northern Bank name. Older banknotes bearing the Northern Bank name are still in circulation and continue to be acceptable for payments as they are withdrawn. Danske Bank has ceased issue of £50 and £100 notes and will in future only print £10 and £20 notes. Danske Bank does not issue £5 notes, but a special commemorative £5 note was issued by the Northern Bank to mark the Year 2000. Uniquely among sterling notes, this was a vertical polymer banknote, printed by the Canadian Bank Note Company on Australian synthetic polymer substrate instead of paper, making Northern Ireland the only part of the UK to have issued a plastic banknote prior to Scotland & England issuing the £5 polymer notes in Autumn 2016.
It is the only one of the bank's pre-2004 notes still in circulation. A
Queen's University Belfast
Queen's University Belfast is a public research university in Belfast, Northern Ireland. The university was chartered in 1845, opened in 1849 as "Queen's College, Belfast", it offers academic degrees at various levels and across a broad subject range, with over 300 degree programmes available. Its president and vice-chancellor is Ian Greer; the annual income of the institution for 2017–18 was £369.2 million of which £91.7 million was from research grants and contracts, with an expenditure of £338.4 million. Queen's is a member of the Russell Group of leading research intensive universities, the Association of Commonwealth Universities, the European University Association, Universities Ireland and Universities UK; the university is associated with one Turing Award laureate. Queen's University Belfast has its roots in the Belfast Academical Institution, founded in 1810 and which remains as the Royal Belfast Academical Institution; the present university was first chartered as "Queen's College, Belfast" in 1845, when it was associated with the founded Queen's College and Queen's College, Galway, as part of the Queen's University of Ireland – founded to encourage higher education for Catholics and Presbyterians, as a counterpart to Trinity College, Dublin an Anglican institution.
Queen's College, opened in 1849. Its main building, the Lanyon Building, was designed by Sir Charles Lanyon. At its opening, it had 195 students; some early students at Queen's University Belfast took University of London examinations. The Irish Universities Act, 1908 dissolved the Royal University of Ireland, which had replaced the Queen's University of Ireland in 1879, created two separate universities: the current National University of Ireland and Queen's University of Belfast; the university was one of only eight United Kingdom universities to hold a parliamentary seat in the House of Commons at Westminster until such representation was abolished in 1950. The university was represented in the Parliament of Northern Ireland from 1920 to 1968, when graduates elected four members. On 20 June 2006, the university announced a £259 million investment programme focusing on facilities and research. One of the outcomes of this investment has been a new university library; the building has been named in honour of Sir Allen McClay, a major benefactor of Queen's University and of the Library.
In June 2010, the university announced the launch of a £7.5m Ansin international research hub with Seagate Technologies. Queen's is one of the largest employers in Northern Ireland, with a total workforce of 3,903, of whom 2,414 were members of academic, academic-related and research staff and 1,489 were administrative employees. In addition to the main campus on the southern fringes of Belfast city centre, the university has two associated university colleges, St Mary's and Stranmillis located in the west and south-west of the city respectively; these colleges offer teacher training for those who wish to pursue teaching careers and a range of degree courses, all of which are centred around a liberal arts core. While the university refers to its main site as a campus, the university's buildings are in fact spread over a number of public streets in South Belfast, principally Malone Road, University Road, University Square and Stranmillis Road, with other departments located further afield. Academic life at Queen's is organised into fifteen schools across three faculties.
The three faculties are the Faculty of Arts, Humanities & Social Sciences, the Faculty of Engineering & Physical Sciences and the Faculty of Medicine, Health & Life Sciences. Each of the schools operates as a primary management unit of the university and the schools are the focus for education and research for their respective subject areas. School of Biological Sciences School of Chemistry and Chemical Engineering School of Electronics, Electrical Engineering and Computer Science School of Arts and Languages School of History, Anthropology and Politics School of Law Queen's Management School School of Mathematics and Physics School of Mechanical and Aerospace Engineering School of Medicine and Biomedical Sciences School of Nursing and Midwifery School of Pharmacy School of Natural and Built Environment School of Psychology School of Social Sciences and Social Work Gibson Institute- involved in education and research in the areas of sustainability, rural development, environmental management, food marketing, renewable energy, physical activity and public health Institute for Collaborative Research in the Humanities – established in 2012, supports interdisciplinary research in the Humanities at all levels.
On Feb 18th 2016 BBC Northern Ireland reported. Institute for Global Food Security Institute for the Study of Conflict Transformation and Social Justice Institute of Cognition and Culture- Founded in 2004, this is one of the world's first centres for research in the cognitive science of culture, it has brought together a range of cutting-edge cognitive scientists via a series of visiting fellowships. Institute of Electronics and Information Technology - established in 2003 to commercialise world-class research and expertise in a variety of enabling digital communications technologies at the School of Electronics, Electrical Engineering and Computer Science at Queen's University Belfast. Institute of Irish Studies- It was the first of its kind to be established in the world and is one of the lead