What it is:
In the banking world, Old Lady is a nickname for the Bank of England. The full nickname is "Old Lady of Threadneedle Street."
How it works/Example:
The Bank of England is the United Kingdom's central bank, meaning that it is a bank for banks and works closely with the government's treasury.
Why it matters:
The Bank of England was founded in 1694. The nickname first appeared in a caption to a political cartoon by James Gillray, published in 1797. It depicts theminister trying to woo the bank, which took the form of a money-clad old lady.