bank of england is mother of all central banks
Bank of England The Bank of England, formally the Governor and Company of 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, it is the second oldest central bank in operation today, after the Sveriges Riksbank. The Bank of England is the world's 8th oldest bank. It was established to act as the English Government's banker and is still one of the bankers for the Government of the United Kingdom. The Bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946.[3][4]
European Central Bank The European Central Bank (ECB; German: Europäische Zentralbank (EZB), French: Banque centrale européenne (BCE)) is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the world's most important central banks and is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). The capital stock of the bank is owned by the central banks of all 28 EU member states.[2] The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015[update] the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank,[3] and former managing director of the Goldman Sachs international division (2002–2005).[3][4] The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters.