Head of the Church time of the English Reformation, Henry VIII took for himself the title of Supreme Head of the Church of England, which was theologically problematic; his daughter Elizabeth I changed this to Supreme Governor of the Church of England. The Presbyterian system, codified in the Westminster Standards, outlines teaching elders (Ministers) and ruling elders, and courts presided over by Moderators sitting "primus inter pares", and gives practical effect to the concept of the equal status of all believers behind the one and only head of the church - Jesus Christ. This gives rise to the famous (or infamous) section of the
Deputy Governor of the Bank of England four Deputy Governors (Sir Jon Cunliffe, Ben Broadbent, Sam Woods and Sir David Ramsden). They have special responsibility for financial stability, monetary policy, prudential regulation and markets and banking respectively. In 2013, the position of Chief Operating Officer (COO) was created and has the same status and remuneration as a Deputy Governor. Under Schedule 1 of the Bank of England Act 1998 (as amended), Deputy Governors are appointed for five year terms, and are term-limited to two terms. The Bank of England Act 1998, which came into force on 1 June 1998, created a second Deputy Governorship. Clementi became Deputy