History of the British national debt History of the British national debt The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt, which evolved into the Bank of England. In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of £1 billion (that was more than 200% of GDP). At the beginning of the 20th century the national debt had been gradually reduced to around 30 percent of GDP. However, during World War I the British
Bank of New England end secured creditors received 100% of their money while unsecured creditors received 34 cents on the dollar. However, , creditors were still disputing the allocation of the final 101 million dollars that the bankruptcy trustee had to distribute. In 2007 the Southern New Hampshire Bank & Trust was renamed as the Bank of New England, however it shares no connection to the earlier institution. Bank of New England The Bank of New England Corporation was a regional banking institution based in Boston, Massachusetts, which was seized by the Federal Deposit Insurance Corporation (FDIC) in 1991 as a result of heavy