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The Chancellor is the third-oldest major state office in English and British history; it originally carried responsibility for the Exchequer, the medieval English institution for the collection and auditing of royal revenues which dates from the Anglo-Saxon period and survived the Norman conquest of England. The earliest surviving records which are the results of the exchequer's audit, date from 1129 -- 30 under King Henry I and show continuity from previous years. The Chancellor controlled monetary policy as well as fiscal policy until 1997, when the Bank of England was granted independent control of its interest rates. The Chancellor also has oversight of public spending across Government departments.

when (which century) was the position of chancellor of exchequer established