Bank Junction is named for the Bank of England, located on Threadneedle Street, from which it gets the nickname “The Old Lady of Threadneedle Street.” Established in 1694, the Bank of England has become the model for most global central banks. It is now the only bank in England authorised to print banknotes, but this is a surprisingly recent development. Until the mid-nineteenth century, any private bank could print its own notes. The bank now known as Lloyds was the last private bank in the nation permitted to do so, in the 1930s. Scottish and Northern Irish banks still retain the right.