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1D.7 The Reign of William III and Mary II (1689–1702)
1D.7.4 Economic and Financial Policies
1D.7.4.4 Growth of Financial Institutions
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What are financial institutions?
Entities facilitating flow of capital
Banks lend money, provide deposit accounts, and manage
payments
What is an example of an insurer in England during the Stuart period?
Lloyd's of London
The London Stock Exchange facilitated the
trading
of company shares.
When was the Bank of England founded?
1694
The Bank of England revolutionized the monetary system by providing stability and financing government
debt
What was a major driver of financial institution growth in England during the Stuart period?
Economic expansion
Wars like the Nine Years' War led the government to borrow heavily, prompting the establishment of the Bank of
England
Private banks in England introduced deposit accounts and loans during the
Stuart
period.
What role did the Bank of England play in Stuart Britain?
Key development in 1694
The Bank of England managed debt by issuing
£
1.2
m
i
l
l
i
o
n
£1.2 million
£1.2
mi
ll
i
o
n
in shares
Which institution was established in 1694 to manage government borrowing?
Bank of England
Private banks introduced deposit accounts and
loans
The Bank of England issued
£
1.2
m
i
l
l
i
o
n
£1.2 million
£1.2
mi
ll
i
o
n
in shares to manage government debt.
Order the factors that led to the growth of financial institutions in England.
1️⃣ Economic expansion
2️⃣ Government debt
3️⃣ Banking innovations
Match the financial institution with its primary function:
Bank of England ↔️ Manages government debt
London Stock Exchange ↔️ Facilitates trading of shares
The Bank of England funded military campaigns during the reign of William III and
Mary II
.
What are financial institutions designed to facilitate?
Capital flow
Banks lend money, manage payments, and provide deposit
accounts
The Bank of England revolutionized the monetary system by providing
stability
and financing government debt.
What is the primary function of insurers in financial institutions?
Risk compensation
Match the financial institution type with its function:
Banks ↔️ Manage deposits and loans
Insurers ↔️ Cover risks for compensation
Stock Exchanges ↔️ Facilitate share trading
The Bank of England began with
£
1.2
m
i
l
l
i
o
n
£1.2 million
£1.2
mi
ll
i
o
n
in shares to finance military campaigns.
The Bank of England and the London Stock Exchange emerged during the reign of William III and Mary
II
How did the Bank of England promote financial stability during the reign of William III and Mary II?
Managed government debt
Match the financial policy with its impact:
Bank of England ↔️ Regulated banking
Insurance Growth ↔️ Mitigated business risks
Stock Exchange Expansion ↔️ Facilitated capital investment