coins that can be used england
What are backing assets? To back their banknote issue, authorised banks may use a combination of Bank of England banknotes, UK coin and funds in an interest bearing bank account at the Bank of England. Bank of England banknotes held as backing assets may be held at an authorised location or at the Bank of England.hat are backing assets? To back their banknote issue, authorised banks may use a combination of Bank of England banknotes, UK coin and funds in an interest bearing bank account at the Bank of England. Bank of England banknotes held as backing assets may be held at an authorised location or at the Bank of England.