Magical objects in Harry Potter and 2008 United Kingdom bank rescue package: Difference between pages

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{{Current|date=October 2008}}
In the [[fiction]]al ''[[Harry Potter]]'' series, many magical objects exist for the use of the [[List of Harry Potter characters|characters]]. The following is a list of '''magical objects in ''Harry Potter''''', and can be found throughout the series by [[J. K. Rowling]].
[[Image:AlistairDarlingABr.JPG|thumb|200px|[[Alistair Darling]]]]
A '''bank rescue package''' totalling some £500 billion (US$860 billion) was announced by the [[Her Majesty's Government|British Government]] on 8 October 2008, as a response to the [[Global financial crisis of September-October, 2008|ongoing financial crisis]]. After two unsteady weeks at the end of September, the first week of October had seen major falls in the [[stock market]] and severe worries about the stability of British banks. The plan aimed to restore market confidence and help stabilise the British banking system, and provided for a range of short-term loans and guarantees of interbank lending, as well as up to £50 billion of state investment in the banks themselves.


==Communication==
== Background ==
===Enchanted Coins===
In ''[[Harry Potter and the Order of the Phoenix]]'', [[Hermione Granger]] creates fake, enchanted Galleons that are used for communication between members of [[Dumbledore's Army]]. Like real Galleons, the coins have numerals around the edge; on normal Galleons these serial number indicate which goblin cast the coin, but on the enchanted coins, the numbers represent the time and date of the next meeting, and change automatically to match whatever numbers [[Harry Potter (character)|Harry Potter]] sets on his coin. The coins become hot when the numbers change to alert the members to look at their coins. The coins are also used in ''[[Harry Potter and the Deathly Hallows]]'' to communicate between members of Dumbledore's Army.


The announcement occurred less than 48 hours after Britain's leading share index, the [[FTSE100]], recorded its largest single-day points fall since 1987.<ref> {{cite web |title=Stocks slide despite reassurances |publisher=[[BBC News]] |date=2008-10-06 |url=http://news.bbc.co.uk/1/hi/business/7655288.stm |accessdate=2008-10-08}} </ref> A similar [[bailout]] package had been passed in the United States the previous week, as the [[Emergency Economic Stabilization Act of 2008]]. Details of the rescue package were worked on overnight and were finalised at 05:00.
In ''[[Harry Potter and the Half-Blood Prince]]'', [[Draco Malfoy]] uses a pair of enchanted coins to bypass the communication limits then placed around [[Hogwarts]], thus managing to keep in contact with [[Madam Rosmerta]], whom he had placed under the Imperius Curse. Draco reveals he got the idea from Hermione's DA coins, which were themselves inspired by [[Lord Voldemort]]'s use of the [[Dark Mark]] to communicate with his [[Death Eaters]].


== The rescue plan ==
===Howler===
A '''Howler''' is a bright red letter sent to signify extreme anger in the ''Harry Potter'' books. When it is opened, the sender's voice will bellow at the recipient, with the voice magically magnified to deafening volumes, before self-destructing. If it is not opened, it will explode violently and the message will be heard anyway, and will be even louder than if opened.{{HP2}} In the film version, the Howler folds itself into an [[origami]]-style set of lips before shredding itself into scraps of paper.


The plan provides for several sources of funding to be made available, to an aggregate total of £500 billion in loans and guarantees. Most simply, £200 billion will be made available for short terms loans through the [[Bank of England]]'s [[Special Liquidity Scheme]]. Secondly, the Government will support British banks in their plan to increase their market capitalisation through the newly formed [[Bank Recapitalisation Fund]], by £25 billion in the first instance with a further £25 billion to be called upon if needed. Thirdly, the Government will temporarily underwrite any eligible lending between British banks, giving a loan guarantee of around £250 billion.<ref name="Treasury">{{cite web|url=http://www.hm-treasury.gov.uk/statement_chx_081008.htm|title= Statement by the Chancellor on financial stability|last=Darling|first=Alastair|date=8 October 2008|publisher=HM treasury|language=English|accessdate=2008-10-09}}</ref> However, only £400 billion of this is 'fresh money', as there is already in place a system for short term loans to the value of £100 billion.<ref name="Central"> {{cite web |title=Central banks cut interest rates |publisher=[[BBC News]] |date=2008-10-08 |url=http://news.bbc.co.uk/1/hi/business/7658277.stm |accessdate=2008-10-08}} </ref>
In ''[[Harry Potter and the Chamber of Secrets]]'', [[Ron Weasley]] receives a Howler from his mother, [[Molly Weasley]], after he steals his father's enchanted car and flies it to Hogwarts with Harry. [[Neville Longbottom]] receives one from his grandmother after [[Sirius Black]] uses his list of passwords to enter the [[Gryffindor]] Common Room in ''[[Harry Potter and the Prisoner of Azkaban]]''. Later in the series, Hermione receives one in ''[[Harry Potter and the Goblet of Fire]]'' after [[Rita Skeeter]] publishes an article in which she makes up a relationship between Hermione and Harry. Finally, Dumbledore sends Petunia Dursley a Howler in ''Order of the Phoenix'', to remind her of the agreement to allow Harry to live at Privet Drive, when Harry's Uncle Vernon attempts to throw him out after being attacked by [[Dementors]].


Through the Bank Recapitalisation Fund, the government will buy [[preference shares]] in the [[bank]]s; these shares will take priority in the event of a liquidation, and will pay a dividend but hold no voting rights. The amount and proportion of the stake that will be taken in any one bank has yet to be determined. Banks that take the rescue packages will have restrictions on [[executive pay]] and [[dividend]]s to existing shareholders, as well as a mandate to offer reasonable credit to homeowners and small businesses.<ref name="Central"/> The long-term government plan is to offset the cost of this program by receiving dividends from these shares<ref name="Treasury"/>, and in the long run, to sell the shares after a market recovery.<ref name="Central"/> This plan may potentially extend to underwriting new issues of shares by any participating bank.<ref name="Treasury"/> The plan has been characterised as, in effect, [[nationalization|partial nationalisation]].<ref>{{cite news
==Concealers==
|url=http://www.guardian.co.uk/business/2008/oct/08/creditcrunch.banking
===Invisibility Cloaks===
|title=Government to spend £50bn to part-nationalise UK's banks
:''For information on Harry's special cloak, which is, in fact, a Deathly Hallow, see [[#Cloak of Invisibility|Cloak of Invisibility]].''
|publisher=The Guardian
Within the ''Harry Potter'' universe, an '''invisibility cloak''' is used to make the wearer [[invisible]]. There are a number of different types of invisibility cloaks. All are very rare and expensive, and they may be spun from pelts of the Demiguise, magical herbivores that are found in the [[Far East]]. They can be ordinary cloaks as well with a ''[[Spells in Harry Potter#(Disillusionment Charm)|Disillusionment Charm]]'' or a ''[[Spells in Harry Potter#(Bedazzling Hex)|Bedazzlement Hex]]'' placed on them. Over time, these cloaks will lose their invisibility ability, eventually becoming opaque.<ref name="DH21">{{HPref|book=7|chapter=21}}</ref>
|date=2008-10-08
|accessdate=2008-10-08
|first=Graeme
|last=Wearden
|coauthors=
}}</ref>


[[Alastair Darling]], the [[Chancellor of the Exchequer]], told the [[British House of Commons|House of Commons]] in a statement on 8 October 2008 that the proposals were "designed to restore confidence in the banking system", and that the funding would "put the banks on a stronger footing".<ref> {{cite web |title=Hansard |publisher=Hansard |date=2008-10-06 |url=http://www.publications.parliament.uk/pa/cm200708/cmhansrd/cm081008/debtext/81008-0004.htm#08100877000003 |accessdate=2008-10-10}}</ref>. Prime Minister [[Gordon Brown]] suggested that the government's actions had 'led the way' for other nations to follow whilst [[Shadow Chancellor of the Exchequer|Shadow Chancellor]] [[George Osborne]] stated that "This is the final chapter of the age of irresponsibility and it’s absolutely extraordinary that a government has been driven by events to today's announcement";<ref>in addition to offering conservative party support for the plan. {{cite web |last=Barker |first=Alex |title=Brown says UK leads world with rescue |publisher=[[Financial Times]] |date=2008-10-08 |url=http://www.ft.com/cms/s/0/a3fb9670-951c-11dd-aedd-000077b07658.html?nclick_check=1 |accessdate=2008-10-08}} </ref>
Invisibility cloaks hide the presence of the wearer by visual detection only, meaning that it does not stop people from being solid. [[Alastor Moody]]'s magically charmed eye however was able to penetrate them. Creatures such as cats ([[Argus Filch|Mrs Norris]]) and snakes ([[Horcrux#Nagini|Nagini]]) rely more heavily on other senses unaffected by visibility (smell, hearing), so the cloaks are less effective in hiding from them. The [[Dementors]] in the books have no sense of sight and instead sense human despair, a sense unhindered by the use of an invisibility cloak.


The British rescue plan differs from the [[Emergency Economic Stabilization Act of 2008|$700bn US bailout]] formally entitled the [[Troubled Asset Relief Program]] (TARP), in that the £50bn being invested by the U.K. Government will see them purchasing 'preference shares' from the banks (which in the future could see a return being made to the taxpayer), whereas the American program is primarily devoted to the [[US Government]] purchasing the mortgage backed securities of the American banks which are not able to be sold in the secondary mortgage securities market. The U.S. program does require the U.S. government to take an equity interest in financial organisations selling their securities into the [[TARP]] <ref>{{cite web |title=Q&A: How will the UK bailout work? |publisher=[[CNN]] |date=2008-10-08 |url=http://edition.cnn.com/2008/BUSINESS/10/08/uk.bailout.questions/index.html |accessdate=2008-10-08}} </ref>
Invisibility cloaks have played a major part in the series, they have been used by many characters, not just one. The cloak of [[Ignotus Peverell]], which was passed down the generations to Harry is an extremely powerful cloak that seems to never lose its ability to render objects invisible. It also never is worn out despite constant use and is not affected by spells. It was possibly made by Ignotus himself, using powerful but unknown magic, rather than from the methods mentioned above. The story of the cloak says it was [[Death (personification)|Death's]] cloak given to Ignotus, though "Death" is only [[personification]] in the story. This cloak is one of the three items of the Deathly Hallows (the others being the Resurrection Stone and the Elder Wand.)


==Participating banks==
[[Potter family#James Potter|James Potter]], Harry's father, generations later inherited the Cloak of Invisibility as a descendant of the Peverell family. His son, Harry, then inherited it from his father, presented by Dumbledore, who had possession of it at the time of the death of Harry's parents. Moody is known to possess two. One of these was borrowed by [[Sturgis Podmore]] in the course of work for the [[Order of the Phoenix (organisation)|Order of the Phoenix]]. [[Barty Crouch Senior]] possessed one as well, as he used it to hide his son.


The plan is open to all UK based banks and so far the following banks have signed up for the plan<ref name="Central"/>:
===Deluminator (Put-Outer)===
[[Image:Albdelumin.jpg|thumb|Dumbledore is using his Deluminator in the film ''[[Harry Potter and the Philosopher's Stone (film)|Harry Potter and the Philosopher's Stone]]'']]
The '''Deluminator''' (solely called the Put-Outer until ''Deathly Hallows'') is a device used and invented by Dumbledore that can remove or absorb and later return the light from a light source to provide secrecy to the user. It looks like a standard cigarette lighter and makes its first appearance in ''[[Harry Potter and the Philosopher's Stone]]''. In this instance, Dumbledore uses the Deluminator to darken Privet Drive, where the [[Dursley family]] household is located. This makes the Deluminator the first magical object to be shown in the novels. It was next seen in ''Order of the Phoenix'' where Dumbledore loans the Deluminator to Moody, who uses it when transporting Harry from the Dursleys' home to the headquarters of the [[Order of the Phoenix (organisation)|Order of the Phoenix]] at [[Number 12, Grimmauld Place]]. In ''Half-Blood Prince'', Dumbledore uses the Deluminator again to darken Privet Drive before collecting Harry.


*[[Abbey (bank)|Abbey]]
Finally in ''Deathly Hallows'', it is first referred to as the Deluminator. It is bequeathed to Ron by Dumbledore. After Ron had left his friends in anger, the Deluminator demonstrated the additional capability of a homing device. Ron hears the voices of Harry and Hermione through the device when they say his name and, when he clicks it, the emitted light enters his body and allows him to locate and Apparate to the vicinity of their camp. Ron speculates that Dumbledore had foreseen that he would abandon his friends. But Harry corrects him saying that Dumbledore knew Ron would always want to return to his friends. Rowling later stated that Dumbledore left it to Ron because he believed he might have needed a little more guidance than Harry and Hermione.<ref>{{cite news|url=http://www.the-leaky-cauldron.org/2007/7/30/j-k-rowling-web-chat-transcript|title=J.K. Rowling Web Chat Transcript|date=[[2007-07-30]]|accessdate=2007-07-30|publisher=[[The Leaky Cauldron (website)|The Leaky Cauldron]]}}</ref>
*[[Barclays plc]]
*[[HBOS]]
*[[HSBC Bank (Europe)|HSBC]]
*[[Lloyds TSB]]
*[[Nationwide Building Society]] (a [[building society]])
*[[Royal Bank of Scotland]]
*[[Standard Chartered Bank]]


==Dark objects==
== See also ==
* [[Government intervention due to subprime crisis]]
===Hand of Glory===
The '''[[Hand of Glory]]''' is an instrument used by Draco in ''Half-Blood Prince''. In ''Chamber of Secrets'', it is described as a large shriveled hand displayed on a cushion in [[Borgin and Burkes]]. However, when a candle is placed in the hand, it gives light only to the person wielding it.


== References ==
It was first seen in the second book, when Draco and his father, [[Lucius Malfoy]], visited the [[Dark Arts (Harry Potter)|Dark Arts]] store [[Borgin and Burkes]] in [[Knockturn Alley]]. (At that point, Lucius denied Draco's request to have it, saying that it was a tool for a common thief). And later on, in the sixth book, it was used by Draco when leaving the Room of Requirement, allowing him to escape from Ron and a few other members of Dumbledore's Army after using the Peruvian Instant Darkness Powder.

===Horcruxes===
{{main|Horcrux}}

===Other Dark Items===
* Forbidden Books including:
** Sonnets of a Sorcerer, which forces the reader to speak forever in limericks
** A book that sears the eyes of the reader
** A book that the reader cannot stop reading or dispose of.
* Unnamed items which can be found in Borgin & Burkes:
** Blood-stained playing cards
** A staring glass eye
** Evil-looking masks
** Human bones
** Rusty, spiked instruments
** Long coil of hangman's rope
** Opal necklace that is cursed and has claimed the lives of nineteen Muggles and is also known to have nearly killed Katie Bell in ''[[Harry Potter and the Half Blood Prince]]''.
* Items which can be found in Knockturn Alley:
** Poisonous candles
** Human fingernails
* Items which can be found in Number 12 Grimmauld Place:
** Biting silver snuffbox filled with Wartcap Powder
** A spidery instrument, rather like a many-legged tweezers, which scurried away and tried to puncture Harry's skin, destroyed by Sirius
** A music box that played a sinister but compelling tune which would have put all the listeners into an enchanted sleep, had it not been stopped by [[Ginny Weasley]]
** A grandfather clock that shot heavy bolts at passers-by
** An ancient set of purple robes that tried to strangle Ron
** An ornate crystal bottle with a large opal set into the stopper, full of what looked like blood
** Claws
** Rusty daggers
** Coiled snakeskin

==Deathly Hallows==
[[Image:Deathly Hallows Sign.svg|right|thumb|The sign of the Deathly Hallows represents all three objects symbolically: the Wand, the Stone, and the Cloak.]]
The '''Deathly Hallows''' are three magical objects that appear in ''[[Harry Potter and the Deathly Hallows]]''. In the novel, the [[lore]] behind them states that a person who unites the Hallows will become a "master of death". Throughout the history of the novel, many wizards have sought out the legendary ''Hallows'' through what is referred to by [[Xenophilius Lovegood]] as the ''Quest''. Apparently, not many have succeeded in finding the Deathly Hallows. They had, after all, no evidence of the locations of the Hallows and no proof that they actually existed. Also, very few actually believe this story. The many, like [[Viktor Krum]], believe the sign of the Deathly Hallows to be the mark of [[Gellert Grindelwald]].

According to "[[The Tales of Beedle the Bard#"The Tale of the Three Brothers"|The Tale of the Three Brothers]]", the [[Peverell brothers]] found [[Death (personification)|Death]]. Death gave them one choice of anything they wanted; the first brother chose a wand that could not be defeated in battle, the second asked for a way to bring back someone from death, and the third selected a cloak that made the wearer invisible to hide from Death himself. According to Rowling, the story about how these objects came into existence is "perhaps" based upon [[Geoffrey Chaucer]]'s "[[The Pardoner's Tale]]".<ref name="webchat">{{cite news|url=http://www.bloomsbury.com/harrypotter/content.asp?sec=3&sec2=1|date=[[2007-07-31]]|accessdate=2007-07-31|publisher=[[Bloomsbury Publishing|Bloomsbury]]|title=Online Chat Transcript}}</ref>

===Elder Wand===
The '''Elder Wand''', known throughout history as the "'''Deathstick'''" and the "'''Wand of Destiny'''", is an extremely powerful wand made of [[Elderberry|elder]] wood with a core of [[Thestral]] tail hair.<ref>[http://www.jkrowling.com/textonly/en/extrastuff_view.cfm?id=25 J.K.Rowling Official Site<!-- Bot generated title -->]</ref> Supposedly, it is the most powerful wand in existence, and when used by its true master, he or she cannot be defeated in a [[duel]] (however, in ''Deathly Hallows'' Dumbledore dueled with Grindelwald and conquered the wand, despite the fact it is supposed to be unbeatable). It also appears, as the wand is somewhat sentient, as are all wands, that it will not allow itself to cause real harm to its true Master. The wand's ownership, however, is a tricky matter. As stated by [[Mr Ollivander]] the wandmaker, ownership can only be transferred properly. That is, the wand will only fully work for the new user if they directly Disarm, Stun or kill the previous user. This can occur during a duel (although because the Wand is very powerful, this scenario would be rare), or in non-magical ways (killing in Muggle fashion, etc). Rowling has stated that the wand is brutal in its choice of master, that, whilst most wands have some allegiance to their own masters, the Elder Wand only responds to power, i.e. becoming the possession of the most powerful wizard in a duel. If a master dies naturally without ever being defeated, the wand's power will die too, as it had never been won from its master. After defeating Voldemort, Harry discusses its fate with the portrait of Dumbledore, and decides that he should put it back into Dumbledore's grave, so that no more wizards will die in the pursuit of the item.

After boasting of his unbeatable wand, [[Antioch Peverell]] met his end – murdered in his sleep by a rival wanting to claim the wand. Ever since, power-hungry wizards have sought the wand. It eventually came to the possession of Gregorovitch, a Bulgarian wandmaker. Gregorovitch boasted about how he possessed the Elder Wand, as it would boost his popularity as he tried to [[Reverse engineering|reverse engineer]] its secrets as he faced competition from Ollivander. It subsequently fell to Grindelwald, who stole it from the famed wandmaker. It is not known if Gregorovitch mastered its secrets properly but he did have a reputation in Europe. The Stunning Spell Grindelwald sent at Gregorovitch while stealing the wand caused it to recognize him as its master, although this is never explicitly stated in ''Deathly Hallows.'' Ultimately Grindelwald was defeated by Dumbledore, who then assumed control of the wand, it being the "only hallow [he] was fit to possess, not to boast of it or kill with it, but to tame it."

When Dumbledore arranged his death with Snape, he meant Snape to "end up with the Elder Wand." Because his death would not have been the result of his defeat, Dumbledore hoped this might break the wand's power. However, since Draco disarmed Dumbledore, the plan failed and Draco became the wand's new master. After Dumbledore's death, the wand was placed inside his White Tomb. Voldemort opened it and claimed the wand as his own. Only later did he learn that he never mastered the wand because he did not gain ownership from its previous owner (who, after all, was already dead). Thereafter he slew Snape, not realizing that the wand's allegiance had passed to Draco, even though Draco never had the Elder Wand itself in his possession; furthermore, Draco was Disarmed by Harry, and thus relieved of the Elder Wand's allegiance, before Voldemort even took possession of the Wand itself. While Voldemort wielded the Wand for its entire presence in the novel, he never understood who actually owned it, until Harry spells it out for him (and the reader) in the final pages of the book.

At the beginning of the final book, Voldemort attempts to use a [[Killing Curse]] on Harry as the boy and the decoys attempt to flee Privet Drive: at this time Harry's wand mysteriously acts of its own accord and stops Voldemort. This is what causes Voldemort to seek out Gregorovitch and the Hallow. The Elder Wand did destroy Voldemort's soul fragment inside Harry with another killing curse; Voldemort could not kill Harry, but he could certainly destroy that part of himself. The killing curse only knocked Harry into a death-like state for a few moments, in which in his mind he was given a choice to "''move on''" to the [[afterlife]] or return to the living world, and he chose the latter. Voldemort's [[Cruciatus Curse]], used on Harry when Voldemort thought he was dead, caused no pain to Harry. In the [[Battle of Hogwarts]], the Elder Wand recognizes its true master, and when confronted with Harry's Expelliarmus charm, the wand causes Voldemort's final Killing Curse to rebound and kill him. Harry is the wand's true master and the wand cannot hurt its owner.

Harry uses the Elder Wand to repair his damaged holly and [[Phoenix (mythology)|phoenix]] feather wand (an act that the great wandmaker Ollivander believed impossible according to what he knew — he mentions that wandlore is very ancient and complicated). Harry intends to return the wand to Dumbledore's tomb, in the hopes of fulfilling Dumbledore's original plan: for the reigning owner of the Elder Wand to die a natural death, thus ending its bloody trail of violence.

Rowling revealed in an interview that the first working title for ''[[Harry Potter and the Deathly Hallows|Deathly Hallows]]'' was ''Harry Potter and the Elder Wand''.<ref>[http://www.hpana.com/news.20137.html Transcript of live web interview with Bloomsbury]</ref>

===Resurrection Stone===
The '''Resurrection Stone''' allows the holder to see and communicate with the dead. According to the fairy tale concerning the origin of the Deathly Hallows, using the Resurrection Stone drove its original owner, [[Cadmus Peverell]], to commit suicide after seeing his deceased fiancée but being unable to truly be with her. By the time the stone was seen in Marvolo Gaunt's possession, it had been set into a ring. The ring bore the symbol of the Deathly Hallows, which Gaunt believed to be the Peverell coat of arms. Both Dumbledore and Grindelwald desired the stone, but for different reasons. While Dumbledore wanted it to communicate with his dead family, Grindelwald intended to use it to create an army of [[Inferius|Inferi]]. Voldemort turned the ring into a Horcrux, not knowing its magical nature.

Dumbledore recovered the ring from Marvolo's estate, recognizing it as both a Horcrux and one of the Deathly Hallows. Forgetting that as a Horcrux, the Resurrection Stone was likely cursed, and motivated by personal desire, Dumbledore attempted to use the Resurrection Stone to talk to his deceased family. However, the curse destroyed his hand and began to spread throughout his body. Though the spreading was partly contained in the destroyed and blackened hand by Snape, Dumbledore was doomed, having perhaps a year to live. Before summoning Snape, Dumbledore had destroyed the Horcrux, using Godric Gryffindor's sword.

The stone was later passed to Harry through Dumbledore's will, hidden inside a [[Golden Snitch|Snitch]]. The Snitch, the same one Harry caught in his first-ever Quidditch match (Harry originally caught the Snitch in his mouth and nearly swallowed it), revealed the message "I open at the close" when touched by Harry's lips. Harry is unable to open the Snitch until he is about to die, and he realizes that "the close" means the end, or his death. Harry uses the stone to summon his parents, Sirius, and Lupin to comfort him before he meets Voldemort. The stone slips through Harry's numb fingers in the [[Hogwarts#Forbidden Forest|Forbidden Forest]]. He and Dumbledore's portrait later agreed that Harry would neither search for it nor tell others where it is. In a recent interview, Rowling said she would like to believe that a centaur's hoof pushed it into the ground, burying it forever.<ref name="webchat">{{cite news |url=http://www.bloomsbury.com/harrypotter/content.asp?sec=3&sec2=1 |date=[[2007-07-31]] |accessdate=2007-07-31 |publisher=[[Bloomsbury]] |title=Online Chat Transcript}}</ref>

===Cloak of Invisibility===
According to the legend, the '''Cloak of Invisibility''' has the power to shield the wearer from being seen by Death. It is a true [[#Invisibility Cloaks|invisibility cloak]], in the sense of being able to completely shield the wearer from sight, and cannot be worn out by time or spells. Other typical invisibility cloaks described in the books, which are sometimes woven from the hair of a beast known as the Demiguise, can become opaque with age and are vulnerable to being penetrated by various spells.<ref name="DH21"/>

In ''Deathly Hallows'', it is revealed that Harry's cloak is in fact the Cloak of Invisibility: one of the Deathly Hallows. It originally belonged to [[Ignotus Peverell]]. After his death, the cloak was passed down from father to son, through Peverell's descendants to James Potter<ref>{{cite news |url=http://www.accio-quote.org/articles/2000/1000-aol-chat.htm |title=J.K. Rowling Web Chat Transcript |date=[[2007-07-30]] |accessdate=2000-10-19 |publisher=Accio Quote}}</ref> and eventually to Harry. The cloak was not in James' possession the night he was murdered; he had previously lent it to Dumbledore, who was greatly interested in the Deathly Hallows, to study. Dumbledore gave the cloak to Harry several years later as a [[Christmas present]] during his first year at Hogwarts. Harry uses the cloak throughout the series in order to sneak around the school on various adventures. It is large enough for Ron and Hermione to accompany him, and they frequently do, although this becomes increasingly difficult as they grow up throughout the series. At the end of Book&nbsp;7, Dumbledore explains to Harry that the Cloak's true magic is that it can shield and protect others as well as its owner, as demonstrated by Harry and his friends on various adventures under the cloak throughout the series.

While making the wearer invisible to ordinary people and wizards, some creatures are able to sense people hidden under it. Snakes for example cannot see through the Cloak of Invisibility, but they can sense movement and heat, and therefore can detect people under it. Mrs Norris also seems to see Harry when he wears the cloak. Wearers can also be detected by the "Homenum Revelio" spell.<ref name="webchat">{{cite news |url=http://www.bloomsbury.com/harrypotter/content.asp?sec=3&sec2=1 |date=[[2007-07-31]] |accessdate=2007-07-31 |publisher=[[Bloomsbury]] |title=Online Chat Transcript}}</ref> In ''Goblet of Fire'', Moody's magical eye could see Harry through the cloak. In the ''Prisoner of Azkaban'' Dumbledore warns that Dementors' perception of humans is unhindered by invisibility cloaks, as they sense people through emotions.<ref>[http://www.bloomsbury.com/harrypotter/content.asp?sec=3&sec2=1 Harry Potter at Bloomsbury<!-- Bot generated title -->]</ref>

At the conclusion of the seventh book in the series, Harry decides that the Invisibility Cloak will be the only Hallow that he will keep, and intends to pass it on to his descendants.

==Detectors==
===Foe-glass===
A '''Foe-glass''' is a mirror that detects and shows its owner's enemies in or out of focus, depending on how close they are. However, like all Dark detectors, it can be fooled, as mentioned by Harry in the fifth book at the beginning of the first D.A. meeting. Moody, actually [[Barty Crouch Jr]] in disguise, claimed that when the figures are most focused, they are the nearest.

Until the debate over [[Severus Snape]]'s allegiance was resolved in ''Deathly Hallows'', a key argument for those who believed that Snape was still in league with the [[Order of the Phoenix (organisation)|Order of the Phoenix]] was the fact that Snape appeared as an enemy in the Foe-glass of Barty Crouch, Jr. in the fourth book (an event that would not have occurred were Snape working for the Death Eaters).

===Probity Probe===
A '''Probity Probe''' detects spells of concealment and hidden magical objects. The detector made its first appearance in ''Order of the Phoenix'' as thin and golden in colour. After Voldemort's return, Probes are used as part of the increased security at Gringotts. They are last seen when Harry, Ron, and Hermione arrive at Gringotts to rob the bank of one of Voldemort's [[Horcrux]]es.<ref name="HBP6">{{HPref|book=6|chapter=6}}</ref>

===Remembrall===
A '''Remembrall''' is a small, clear orb, containing smoke that turns red when detecting that the user has forgotten something. Unfortunately, it does not tell the user what he/she has forgotten which makes it somewhat worthless. The very forgetful Neville is given a Remembrall in ''Philosopher's Stone'', but loses it by his fifth year. Their use is forbidden during the O.W.L. exams, because students can tell if they wrote a wrong answer.

The [[DVD]] of ''Philosopher's Stone'' contains a software approximation of a remembrall.

===Revealer===
A '''Revealer''' is a bright red [[eraser]], used to make [[invisible ink]] appear. It makes its first appearance in ''Chamber of Secrets'' when Hermione tries to make something appear in [[Tom Riddle's diary]].

===Secrecy Sensor===
The '''Secrecy Sensor''' is a dark detector which makes its first appearance when Harry enters Moody's office. The sensor is described as "an object that looked something like an extra-squiggly, golden television aerial." It vibrates when it detects concealment and lies. Moody mentions that it is, "No use here of course, too much interference--students in every direction lying about why they haven't done their homework." However, it may be that this was due to the sinister intentions of Moody (actually Barty Crouch Jr.).

In ''Order of the Phoenix'', it is shown that Secrecy Sensors are used at the Atrium Desk in the [[Ministry of Magic]] upon visitor to the government locale. Later in the book, Harry mentions that they can be easily fooled like its other dark-detecting counterparts. In ''Half-Blood Prince'', due to Hogwarts's new stringent security measures, [[Argus Filch]] is assigned to run every student entering the castle with Secrecy Sensors. All the owls flying into Hogwarts, too, are placed under this measure to detect that no Dark object enters the castle through mail. Later, Hermione explains that though Secrecy Sensors detect jinxes, curses, and concealment charms, they cannot detect love potions (because they are not dark, though Harry considers them to be).

===Sneakoscope===
A '''Sneakoscope''' serves as a [[Dark Arts (Harry Potter)|Dark Arts]] detector. The device is described as a miniature glass-spinning top that emits shrill noises in the presence of deception. For instance, when an untrustworthy person is near or when a deceitful event takes place nearby.

Sneakoscopes are introduced in ''Prisoner of Azkaban'' when Harry receives one from Ron for his 13th birthday. The sneakoscope appears again on the [[Hogwarts Express]], and again up in Harry and Ron's dormitory. Harry later discovers that Scabbers, Ron's rat, who was present each time the Sneakoscope was spinning, is actually a traitorous [[Animagus]] named [[Peter Pettigrew]]. In ''Goblet of Fire'', the somewhat paranoid Moody has several sneakoscopes that he somehow disabled (possibly related to a crack it was described as having), claiming, "It wouldn't stop whistling." However, it was later revealed that Mad-Eye was really Barty Crouch Jr under the effects of the Polyjuice Potion, thus explaining the constant alerts in his presence. Finally in ''Deathly Hallows'', Hermione gives Harry a Sneakoscope for his seventeenth birthday which they later use to help as a lookout while in hiding.

===Weasley Family Clock===
The [[Weasley family]] has a special [[clock]] in their home, [[The Burrow (Harry Potter)|the Burrow]], with nine hands, one for every member of the family. Instead of telling the time, the clock reveals the location or status of each family member. The known locations are: ''Home'', ''School'', ''Work'', ''Travelling'', ''Lost'', ''Hospital'', ''Prison'', and ''Mortal Peril''. The Weasleys are the only family mentioned to own such a clock. [[Albus Dumbledore]] calls the clock "wonderful" and seems impressed by it, suggesting that it's an extremely powerful object.

Only the location of ''mortal peril'' is known on the round clock (it is situated where the numeral 12 would normally be). Throughout the first five books, the hands change to reflect the varying statuses of the family members, but by the sixth book, all nine hands point to ''mortal peril'' at all times, except when someone is travelling. Mrs Weasley takes this to mean that, with Voldemort having returned, everyone is always in mortal peril, but she can not verify this, because she does not know anyone else who has a clock like hers.{{HP6}}

==Games==
===Gobstones===
'''Gobstones''' is one of the many magical games played by young wizards in the books, along with Wizard's Chess and Exploding Snap. Gobstones is similar to the real games of [[marbles]] and [[pétanque]], except that in Gobstones, the balls spit, or gob, a foul smelling liquid in the face of the opposing player when they lose a point. Hogwarts students are seen playing Gobstones throughout the books, and there is even a Gobstones Club at the school.

===Quidditch equipment===
{{main|Quidditch#Players and Equipment}}

===Playing cards: Self-shuffling and Exploding Snap===
In ''Chamber of Secrets'', a pack of '''Self-Shuffling cards''' is mentioned as one of the objects littering the floor of Ron's room.<ref name="CS3">{{HPref|book=2|chapter=3}}</ref>

In ''Goblet of Fire'', Ron was trying to build a card castle out of his '''Exploding Snap pack''', playing cards that have the ability to explode at random. It is mentioned that this made building card castles more exciting, as they were likely to explode at any given time, and indeed his did so as he placed the last two cards on the top of the castle.<ref name="GF22">{{HPref|book=4|chapter=22}}</ref>

===Wizard's Chess===
'''Wizard's chess''' is played with pieces and a board like real [[chess]], except that the pieces are animated and they destroy each other if they land on an opponent's square.<ref>[http://chess.about.com/b/a/187742.htm Elsewhere on the Web : Harry Potter Wizard Chess<!-- Bot generated title -->]</ref> The players simply tell the pieces to move using [[algebraic chess notation]], and the pieces obey. The pieces attack each other in cases where an opposing player's piece would be taken, usually by knocking the captured piece out and dragging it off the board. Ron has a set left to him by his grandfather and Harry first plays with pieces borrowed from [[Seamus Finnigan]], (it is said that the pieces kept shouting him advice because they did not trust him).{{HP1}} Harry later gets a set of his own in one of his wizard crackers during his first [[Christmas]] at Hogwarts. During the climactic chapters of ''Philosopher's Stone'' Harry, Ron and Hermione become [[human chess]] pieces, in a life-sized game of wizard's chess, thus risking their lives. Harry replaces a [[Bishop (chess)|bishop]], Ron a [[Knight (chess)|knight]] and Hermione a [[rook (chess)|castle]]. Ron responds to the first move by using the [[Scandinavian Defence]] to verify that the [[chess pieces]] are enchanted and can smash each other. Later in the game, Ron [[Sacrifice (chess)|sacrifices]] himself leading to Harry successfully [[checkmate|checkmating]] the opposing King.<ref>[http://www.jeremysilman.com/movies_tv_js/harry_potter.html Harry Potter. The complete position.] Composition of the chess position by [[International Master|International chess master]] [[Jeremy Silman]]</ref>

Recently, the company Deagostini released a magazine series called ''Harry Potter Chess'', which is based on the life-sized game near the end of the film version of ''Philosopher's Stone'' and each piece is specially animated. The chess pieces that come with it are based on the life-sized pieces in the film. Arco Toys and others also have a Wizards Chess Set.<ref>[http://www.amazon.com/dp/B0000669DT Amazon.com: Harry Potter Wizard Chess: Toys & Games<!-- Bot generated title -->]</ref>

==Legendary magical artifacts==
===Goblet of Fire===
[[Image:gobletfire.jpg|thumb|100px|The Goblet as seen in [[Harry Potter and the Goblet of Fire (film)|Harry Potter and the Goblet of Fire]]]]
The '''Goblet of Fire''' is a [[goblet]] made of wood and is used at the beginning of every [[Triwizard Tournament]]. It is used solely to choose the participating school champions, serving as an "impartial judge".{{HP4}} Slips of paper with the names of potential candidates are placed in the Goblet and, at the designated time, a representative from each school is chosen when the slip of paper containing their name spouts forth from the Goblet in a fountain of magical fire. The fake Moody stated once that the Goblet of Fire was "a very powerful magical object" and it is very difficult to be hoodwinked, unless someone uses an exceptionally strong [[Spells in Harry Potter#Confundo (Confundus Charm)|Confundus Charm]].

During its use in ''Goblet of Fire'', it is placed in the entrance hall and surrounded by an "age line" (a charm placed by Dumbledore). An ageing potion cannot fool the Goblet, however, as was proven by [[Fred and George Weasley]], who entered their names and had themselves thrown from the Goblet's presence. When not in use, the goblet is kept in a jeweled "casket".

===Gryffindor's Sword===
'''Gryffindor's Sword''' is a [[Goblin (Harry Potter)|goblin]]-made sword adorned with large rubies on the [[Hilt#Pommel|pommel]]. It was once owned by [[Godric Gryffindor]], one of the medieval founders of Hogwarts. In ''Chamber of Secrets'', Harry draws the Sword out of the [[Sorting Hat]] to kill a [[Basilisk (Harry Potter)|basilisk]]. The sword also plays a role in ''Deathly Hallows'', where it is revealed to have been imbued with basilisk venom (as the Sword absorbs anything that would make it stronger), and is used to destroy three of Voldemort's Horcruxes. On several occasions, it is shown that only one who is truly a member of the [[Gryffindor|Gryffindor House]] - one who shows courage in the face of danger - can use the Sword.

Because the Sword was goblin-forged, it is indestructible and according to [[Griphook]] the goblin, the Sword was originally forged for the goblin Ragnuk the First and "stolen" (purchased) by Gryffindor. The Sword was stolen (or retrieved, as goblins would say) by Griphook when the Sword fell from Harry's grasp during the raid on [[Bellatrix Lestrange]]'s vault in book seven. However, it again returned to human hands later in the book, when Neville pulled it out of the Sorting Hat and used it to decapitate Nagini, Voldemort's snake. In both incidents when it was drawn from the hat, it was used to kill a snake, the symbol of Slytherin. This shows that apparently, no matter where the sword happened to be at the time, it would reappear in the hat when a true member of Gryffindor house is in need of it.

Rowling has confirmed in her webchat that Gryffindor did not steal the sword from Ragnuk and that this belief is merely part of Griphook's goblin mistrust and prejudice against wizards.<ref>[http://www.accio-quote.org/articles/2007/0730-bloomsbury-chat.html Gryffindor did not 'steal' the sword, not unless you are a goblin fanatic and believe that all goblin-made objects really belong to the maker.]</ref>

===The Philosopher's Stone===
Based upon the ancient alchemical idea of the [[Philosopher's Stone]], the '''Philosopher's Stone''' (renamed the '''Sorcerer's Stone''' in the American version) is a stone, invented by [[Nicolas Flamel#In popular culture|Nicolas Flamel]]. The stone is legendary in that it changes all metals to gold, and can be used to brew an elixir that can make the drinker immortal. The Philosopher's Stone is seen only in ''Philosopher's Stone'', and is the object that Voldemort is pursuing to return himself to power. It was destroyed at the end of the book by Dumbledore with Flamel's agreement.

===Sorting Hat===
The '''Sorting Hat''' is a [[Sentience|sentient]] [[artifact (fantasy)|artifact]] used at Hogwarts, which magically determines to which of the four schoolhouses - [[Gryffindor]], [[Hufflepuff]], [[Ravenclaw]] or [[Slytherin]] - each new student is to be assigned. During the opening banquet at the beginning of the school year, the hat is placed on every First-Year student’s head. The hat will announce its choice aloud, and the student joins the selected house. Judging from Harry's own account of his Sorting, and a brief comment made by Hermione, the hat speaks to the student while they're being Sorted and is willing to take the student's preferences into account when it makes its decision. The Sorting Hat originally belonged to Godric Gryffindor, one of the four founders of Hogwarts. Due to its age, it appears "patched and frayed and extremely dirty."

Before sorting the students each year, the hat recites a new introductory song. These songs occasionally warn of danger to come, as in ''Order of the Phoenix''. The Sorting Hat's songs vary in length and content, but always include a brief description of each house. It is suggested by Ron that the hat probably spends each school year thinking up the song it will sing at the next start-of-term banquet.

The Sorting Hat has shown the ability to conjure the sword of Gryffindor from under its brim on two instances; in ''Chamber of Secrets'', it provides the sword to Harry Potter, and in ''Deathly Hallows'', it delivers the sword to Neville. Dumbledore makes it clear in ''Chamber of Secrets'' that only a true Gryffindor can summon the sword in this fashion. The sword and hat together make up the two known relics of Godric Gryffindor.

The Sorting Hat had a difficult time placing Harry, almost placing him into Slytherin house before he requested specifically and emphatically not to be. The Hat instead placed him into Gryffindor, after both his parents. Rowling has stated that the reason for the hat's indecision as to which house to place him into was because it sensed the part of Voldemort's soul within Harry.

In ''Deathly Hallows'' the Sorting Hat is set on fire by Voldemort, although it appears the hat was not destroyed, as Neville was able to draw the Sword of Gryffindor from it immediately after. In the epilogue at the end of ''Deathly Hallows'', the Hat's survival is confirmed, as Harry tells his youngest son that, if he really did not want to be Sorted into Slytherin the Hat would take his preference into consideration.

In the first two Harry Potter movies, the hat is voiced by actor [[Leslie Phillips]].

==Mirrors==
===The Mirror of Erised===
The '''Mirror of Erised''' is a mystical mirror discovered by Harry in a back corridor of Hogwarts in ''Philosopher's Stone''. On it is inscribed, ''erised stra ehru oyt ube cafru oyt on wohsi'' &mdash; which, when reversed and correctly spaced, reads ''I show not your face but your heart's desire''. Harry, upon encountering the Mirror, can see his parents, as well as what appears to be a crowd of relatives; Ron sees himself as Head Boy and [[Quidditch]] Captain holding the Quidditch Cup (thus revealing his wish to be acknowledged out of the shadow of his highly successful older brothers, as well as his more popular friend, Harry).

According to Dumbledore, the Mirror "shows us nothing more or less than the deepest, most desperate desire of our hearts"; which is why Harry sees his family, while Ron sees himself achieving more than his older brothers — but cautions Harry that the mirror gives neither knowledge nor truth and that men have wasted away before it, entranced by what they see.

Dumbledore, one of the only other characters to face the Mirror in the novel, claims to see himself holding a pair of [[sock]]s, telling Harry that "one can never have enough socks", and lamenting that he did not receive any for [[Christmas]], since people will insist on giving him books. However, this is a lie. It is said in ''Deathly Hallows'' that what he really sees is his entire family alive and well and happy together again. <ref>[http://the-leaky-cauldron.org/2007/7/30/j-k-rowling-web-chat-transcript J.K. Rowling Web Chat Transcript - The Leaky Cauldron<!-- Bot generated title -->]</ref>

The Mirror of Erised was the final protection given to the Philosopher's Stone in the first book. Dumbledore hid the Mirror and hid the Stone inside it, knowing that only a person who wanted to find the Stone, but not use it, would be able to obtain the stone. Anyone else would see himself making an Elixir of Life or turning things to gold, rather than actually finding the Stone. Dumbledore tells Harry, "It was one of my more brilliant ideas, and between you and me, that's saying something."

The mirror has not been seen since ''Philosopher's Stone''.

===Two-way mirrors===
In ''Order of the Phoenix'', Sirius gives Harry a mirror he originally used to communicate with James in detention. That mirror is a part of a set of '''Two-way Mirrors''' that are activated by holding one of them and saying the name of the other possessor, causing his or her face to appear on the caller's mirror and vice versa. Harry receives this mirror from Sirius in a package after spending his [[Christmas]] holiday at [[Grimmauld Place]]. Harry, at first, chooses not to open the package, although he does discover the mirror after Sirius's death, by which point it is no longer functional. It makes its second appearance in ''Half-Blood Prince'' when [[Mundungus Fletcher]] loots Grimmauld Place and sells it to [[Aberforth Dumbledore]], who uses it to watch out for Harry in ''Deathly Hallows''. When Harry desperately cries for help at a shard of the magical mirror, a brilliant blue eye belonging to Aberforth (which Harry, however, mistakes for Albus' eye), appears and sends [[Dobby]], who arrives to help Harry escape from the [[Malfoy Manor]] to [[Bill Weasley]] and [[Fleur Delacour]]'s [[Shell Cottage]].

==Photographs and Portraits==
{{main|Magical portrait (Harry Potter)}}

==Potions==
These are notable magical drinks and mixtures which have varying effects on the user, from poisons to antidotes to causing irreversible sleep.

===Elixir of Life===
This potion makes the drinker immortal so long as he/she continues to consume it. Nicolas Flamel and his wife are said to have lived over 650 years by drinking this continually. If the drinker stops drinking it, then they will soon die afterwards. It is first heard of in ''Philosopher's Stone'', where the crucial ingredient is said to be the [[philosopher's stone]].

===Felix Felicis===
Also called "liquid luck". First seen in book six, the potion grants whomever drinks it unusually good luck (the time span depending on how much is imbibed.) It is dangerous in large quantities and banned in all sporting events. It looks like gold in fluid form. According to [[Horace Slughorn]], side effects include giddiness and overzealousness, among other effects related to overconfidence. In ''Half-Blood Prince'', Harry pretends to give some to Ron so that he will do well at Quidditch, and Ron's luck turns for the better, with the confidence working as a [[placebo]]. Harry uses half of it in order to extract memories from Slughorn about Voldemort and [[Horcruxes]], and the other half is given to Ron, Hermione, Ginny, Neville, and Luna when Death-Eaters break into Hogwarts and kill Dumbledore. Ron suggests that the potion itself is nothing more than a placebo, simply imbuing the drinker with confidence.

===Amortentia===
This potion causes the drinker to develop a powerful obsession and infatuation with whomever gave them the potion. It is usually either forced upon someone or covertly given. Its effects grow stronger the longer it awaits consumption, as seen in book six when Ron mistakenly eats a Chocolate Cauldron intended for Harry into which Romilda Vane had slipped a Love Potion. The potion has different scents to different people. It is also the most powerful love potion of all.

===Polyjuice Potion===
This potion allows the drinker to appear to be another person for a set time, most commonly an hour. It is made with several ingredients, including a part of the person that the drinker wishes to turn into, such as a strand of hair. It is first used in ''Chamber of Secrets'' to allow Harry and Ron to transform into [[Crabbe and Goyle]]. In ''Goblet of Fire'', Barty Crouch Jr uses it to disguise himself as Moody. In ''Half-Blood Prince'', Crabbe and Goyle use the potion to disguise themselves as young girls while guarding the [[Room of Requirement]]. In ''Deathly Hallows'', Harry first uses it to disguise himself at Bill and Fleur's wedding as a fictional "Barny Weasley". Later he and Hermione disguise themselves as a middle-aged Muggle couple while exploring [[Godric's Hollow]], and finally Hermione disguises herself as Bellatrix in order to break into her vault at [[Gringotts]].

===Veritaserum===
Also known as the '''truth potion''' or '''truth serum'''. Only a drop of this potion is needed to force anyone to tell the true answer to any question. An example of its use is when it is used on [[Barty Crouch Jr.]] in ''Goblet of Fire''. When Dumbledore asked him how he escaped from Azkaban, he told him truthfully that his mother rescued him from jail. In ''Order of the Phoenix'', [[Dolores Umbridge]] tried to use it while interrogating students about their affiliation with [[Dumbledore's Army]], but was actually using an ineffective potion supplied by Snape. In ''Half-Blood Prince'', Harry considered using the potion to get Slughorn to reveal his memories about Voldemort, but thought better of it, and in ''Deathly Hallows'' [[Rita Skeeter]] used the potion to extract the story of Dumbledore's childhood from [[Bathilda Bagshot]].

Rowling has revealed on her fansite that Veritaserum can be fooled using Occlumency and is not usually accepted in wizard courts.

==Prank objects==
===Weasleys' Wizard Wheezes===
{{main|Weasleys' Wizard Wheezes}}
Prank objects from Weasley Wizard Wheezes are made and designed by the owners of the shop, Fred and George. '''Weasley's Wild-fire Whiz-Bangs''' are enchanted fireworks with overly spectacular effects. '''Skiving Snackboxes''' are candies that are designed to sicken the eater in order to skive off lessons. Each variety of Snackboxes causes a different effect, such as vomiting, fainting or developing nosebleeds - one side of the candy causes the malady, while the other half cures it. '''Patented Daydream Charms''' are a kit that puts the user into realistic daydreams, which can be fitted into lessons. A '''Headless hat''' creates a limited field of invisibility that covers the wearer's head, giving them the appearance of not having a head. Its counterpart is a '''Shield Hat''' that deflects minor hexes and curses. Originally intended to be a prank item, it expanded into shield cloaks, gloves, etc. because it works so well.

'''Trick Wands''' are magical fake wands that turn into a silly item (rubber chickens, tin parrots, etc.) when someone tries to use them. Varieties that are more expensive beat the unwary user about the head and neck. '''Ton-tongue toffees''' make the eater's tongue grow to an alarmingly large size temporarily as read about in the fourth book when Fred 'accidentally' drops some in front of Harry's cousin, Dudley. '''Canary Creams''' make the eater turn into a large canary for a short amount of time.

===Other===
Other prank objects include Belch Powder,<ref name="PA8">{{HPref|book=3|chapter=8}}</ref> Dungbombs (explodes and causes a large and extremely smelly mess), and Ever-bashing boomerangs (which hit their target repeatedly after being thrown and are banned at Hogwarts). Fanged Frisbees which are literally Frisbees with fangs and are first mentioned in ''Goblet of Fire'' as one of Filch's newest restricted items at the beginning of term speech. However, they make their first appearance in ''Half-Blood Prince'' when one whirled around the Gryffindor common room, changing course with a mind of its own, and taking a bite out of a curtain - all after Ron threw one in the Gryffindor common room. They may be capable of causing damage.

More objects include '''Screaming yo-yos''', which scream loudly when worked, and '''Stink Pellets''', which are used to distract prefects and teachers, and give an unpleasant smell.<ref name="PA8"/>

==Storage receptacles==
===Moody's Magical Trunk===
[[Alastor Moody]] owns an especially bewitched magical trunk. It has seven locks on it, and the trunk opens to a different assortment of objects for each lock. Most notably, though, the seventh compartment is about {{convert|10|ft|m}} deep (possibly because of the use of an [[Spells in Harry Potter#(Undetectable Extension Charm)|Undetectable Extension Charm]]), and is where Barty Crouch Jr. imprisoned the real Moody. Other compartments contain spellbooks, Dark Detectors, and Moody's Invisibility Cloak.

===Pensieve===
A '''Pensieve''' is a stone receptacle used to store and review memories. Covered in mystic runes, it contains memories that take physical form as a type of matter that is described as neither liquid nor gas. A witch or wizard can extract their own or another person’s memories, store them in the Pensieve, and review them later. It also relieves the mind when it becomes cluttered with information. Anyone can examine the memories in the Pensieve, which also allows viewers to fully immerse themselves in the memories stored within, much like a magical form of real world [[virtual reality]].

Users of these devices view the memories from a [[Third-person narrative|third-person-point-of-view]], providing a near-[[omniscient]] perspective of the events preserved. This, of course, raises questions of how they are able to see things beyond what they have remembered. Rowling answered this question in an interview, confirming that memories in the pensieve allow one to view details of things that happened even if they did not notice or remember them, and stated that "that's the magic of the Pensieve, what brings it alive".<ref>[http://mugglenet.com/jkrinterview3.shtml MuggleNet Emerson and Melissa's J.K. Rowling Interview Page 3<!-- Bot generated title -->]</ref> The "memories" contained in the Pensieve have the appearance of silver threads. Memories that have been heavily manipulated or tampered with to alter perspectives, or are simply aged and gone-spoiled (such as Slughorn's), may appear thick and jelly-like and offer obscured viewing. Memories are not limited to just those of humans, since at least one [[house-elf]] (Hokey) provided Dumbledore with a memory as well.

Dumbledore's Pensieve first appears in ''Goblet of Fire'', again in ''Order of the Phoenix'', and plays a pivotal role in ''Half-Blood Prince''. It makes a last appearance in ''Deathly Hallows'' when Harry uses it to uncover the truth about Snape.

===Hermione's small beaded handbag===
Hermione used an [[Spells in Harry Potter#(Undetectable Extension Charm)|Undetectable Extension Charm]] on her handbag which contains almost everything they need when they disapparate from Bill and Fleur's wedding reception.

==Transportation==
===Broomsticks===
'''[[Broomstick]]s''' are used for transportation by wizards and witches of all ages, and for the game of [[Quidditch]]. Their use is similar to that of [[Magical Objects in Harry Potter#flying carpets|flying carpets]], although the latter are banned in [[Great Britain]]. However, they are uncomfortable for extensive trips, even with the cushion charm.

[[Besom broom|Broomsticks]] are treated as a major consumer product in the [[Wizarding world]]. There are numerous brands and models of brooms, all of which vary in their capabilities. These range from expensive high-performance models to toy broomsticks for young children that only fly a few feet off the ground to even family-sized broomsticks that have room for an entire family to sit down on and have a luggage compartment below the seating area. The cultural significance of broomsticks in the world of ''Harry Potter'' is similar to that of the real life [[automobile]]s.

Since Harry Potter plays [[Quidditch]], his brooms - a ''Nimbus 2000'', and later a ''Firebolt'' - are prominent in the series. The ''Nimbus 2000'' was given to him by special consent of Dumbledore via Professor [[Minerva McGonagall]], who had chosen him as Seeker.{{HP1}} The ''Firebolt'' was given to him by Sirius as a [[Christmas]] gift.{{HP3}} The ''Firebolt'' remains the fastest broom in the world, having surpassed the previous record holder, the ''Nimbus 2001'', and its price is so grand that it is only available upon request (Harry Potter never asks for the price, and thus it remains unknown). However Harry loses his ''Firebolt'' in ''Deathly Hallows'' and it is unknown what he replaces it with afterwards, or if he does at all.

===Cars and Motorbikes===
Enchanted motor vehicles appear in most of the books.

In ''Chamber of Secrets'', Ron and Harry miss the train and travel to Hogwarts in Ron's father's car, a [[Weasley family#Mr Weasley's Car|flying Ford Anglia]].

Sirius owned a flying motorbike, which he lent to Hagrid the night [[James and Lily Potter]] died; it is first seen when Hagrid delivers the baby Harry to Number Four, Privet Drive in the first book, and then again when Hagrid uses it to help Harry escape from the Dursley's in the seventh book.

===Knight Bus===
[[Image:Knight Bus.jpg|thumb|300px|The Knight Bus in the [[Harry Potter and the Prisoner of Azkaban (movie)|''Harry Potter and the Prisoner of Azkaban'' film]]]]
The '''Knight Bus''' is a heavily enchanted, violently purple, triple-decker bus that transports wizards and witches. It makes its first appearance in ''Prisoner of Azkaban'' where Harry unintentionally hails it by holding his wand arm out. Harry has a final ride on the Knight Bus with a number of his friends in ''Order of the Phoenix''. The Knight Bus is faster than travelling by broomstick, but not as fast as near instantaneous [[Magical objects in Harry Potter#Floo powder|Floo powder]] and [[Apparating]]. The bus charges for the service; Harry Potter is charged 11 Sickles to travel from the town of [[Little Whinging]] to [[Diagon Alley#The Leaky Cauldron|The Leaky Cauldron]]{{HP3}}.

The bus functions as public transportation for the wizard or witch who cannot or will not choose another means of transportation. The riders are seemingly picked up by the bus from all over in-universe [[Great Britain]], bringing passengers to the destinations of their choice with seemingly no set route. It bolts through the streets, entirely invisible to [[muggle]]s and causes other objects to dodge it (rather than dodging the objects) for travelling short distances. For longer distances, the Knight Bus makes 160 km (hundred-mile) leaps accompanied by a great bang and jolt. The interior of the bus changes depending on the time of day, having seats by day and beds by night. The only mentioned limitation in travelling is that it cannot enter water.

The [[Conductor (transportation)|conductor]] of the Knight Bus is [[Stan Shunpike]], and its driver is Ernie Prang in the third book of the series. In the third film, Stan is accompanied by a talking [[shrunken head]] [[voice actor|voiced]] by [[Lenny Henry]].

===Hogwarts Express===
{{main|Hogwarts Express}}

===Floo Powder===
[[Image:Floopowder.jpg|thumb|Floo Powder as seen in [[Harry Potter and the Chamber of Secrets (film)|Chamber of Secrets]]]]
'''Floo powder''' is a glittering powder used by wizards to travel and communicate using fireplaces. It was invented by Ignatia Wildsmith (1227-1320) and named after the [[Wiktionary:flue|flue]], which is the passageway that leads from a fireplace to the chimney so hot gases can escape. Floo powder can be used with any fireplace connected to the [[Floo Network]]. To transport from one fireplace to another, the traveller throws a handful of the Floo powder into the fireplace, steps into the fireplace, and states the intended destination in a clear and purposeful voice. Floo Powder can also be used for communication; a wizard or witch can kneel in front of the fire and stick their head into the fire, which will appear in the fire at another fireplace, leaving the witch or wizard free to talk.

In ''Chamber of Secrets'', the [[Weasley family|Weasleys]] travelled to [[Diagon Alley]] by Floo powder. Harry did not say "Diagon Alley" clearly: he coughed while saying "Diagon Alley" so he was instead sent to [[Borgin and Burkes]], in [[Knockturn Alley]]. In the fourth book, [[Arthur Weasley]] uses his position at the Ministry to have the [[Dursleys]]' fireplace temporarily connected to the Floo network, unaware that the fireplace had been blocked. Sirius uses the network to communicate with Harry in the same book. In the fifth book, Harry uses the Gryffindor fireplace and finally Umbridge's fireplace to communicate with Sirius; he is however forced to do so because Umbridge is monitoring all other lines of communication in and out of Hogwarts (thus why he did not communicate through Gryffindor's). The Floo Network is controlled by the Ministry of Magic. The Ministry also has over 700 fireplaces in its headquarters so ministry officials and workers can teleport straight from their homes to the ministry without the hustle and bustle of travelling on broom or by portkey.

===Flying carpets===
'''Flying carpets''' are usually thick rugs, frequently highly patterned and often manufactured in the [[Middle East]] that are enchanted with the ability to fly.{{Or|date=September 2007}} Flying Carpets were once an accepted form of travel for the [[Great Britain|British]] magical community, but they are now banned due to being defined as a "Muggle Artifact" by the Registry of Proscribed Charmable Objects. It is therefore now against British wizarding law to charm carpets or fly them, although they are still legal in other countries. Mr Weasley was very much involved in the introduction of this legislation due to his position in the Misuse of Muggle Artifacts office. It is known that the ban was relatively recent, not only from Arthur's involvement, but also from the fact that Barty Crouch Sr's grandfather owned a 12-seater [[Axminster]] carpet before flying carpets were prohibited.

A wizard merchant by the name of Ali Bashir is very keen to import flying carpets into Britain and is very upset that local laws are preventing him from doing so. He regularly berates Arthur about the subject, but it is very unlikely that the law will be changed.

===Portkeys===
The '''Portkeys''' are first mentioned in ''Goblet of Fire''. Once created by using the ''[[Spells in Harry Potter#Portus|Portus]]'' spell, a Portkey can be set to transport anybody who touches it to a designated location, or to become active at a pre-determined time and transport to that location anybody who happens to be touching it at the moment of activation. The creation of Portkeys may be highly restricted in general; although Dumbledore is able to set up an "unauthorised Portkey" in the fifth book, it is treated as a serious crime; [[Cornelius Fudge|Fudge]] is upset that Dumbledore would create one in front of him, and at one point [[Remus Lupin]] says "...it's more than our life's worth to set up an unauthorised Portkey."

In the series, a portkey is usually made from an unobtrusive object or bit of rubbish, to prevent Muggles from discovering their magical nature. When activated, the user feels a pulling or jerking sensation behind the navel, and then suddenly appears at the destination.{{HP4}} With enough practice, a graceful landing is possible: after the Portkeyed trip to the [[Quidditch World Cup]] in fourth film, [[Cedric Diggory]], Mr Weasley, and [[Amos Diggory]] landed on their feet, while the others (Harry, Ron, Hermione, Ginny and the twins) fell onto the ground.

In ''Goblet of Fire'', Crouch Jr., who was impersonating Moody, made the [[Triwizard Tournament]] cup a Portkey so it would transport anybody who touched it straight to the hands of Voldemort, expecting it would be Harry. However, Harry took the cup together with Cedric, so Pettigrew murdered Cedric.

===Time-Turners===
[[Image:Time Turner.jpg|thumb|A Time Turner]]
A '''Time Turner''' may be used for [[time travel]]. A large supply of Time-Turners is kept at the Ministry, as seen in ''Order of the Phoenix''; however, during the events of that book a glass-fronted cabinet containing Time-Turners is destroyed. Due to their time-affecting properties, the cabinet is seen to fall, shatter and repair itself repeatedly. In ''Half-Blood Prince'', Hermione mentions a Daily Prophet article stating that "the entire stock of Ministry Time-Turners" was destroyed during that incident. The books do not discuss who else may be in possession of Time-Turners outside of the Ministry.

Hermione receives a Time-Turner from McGonagall in ''Prisoner of Azkaban'', so she could attend more classes than time would normally allow. Hermione is ordered to keep it a secret from everyone, including Harry and Ron, although they do notice the impossibility of her schedule, and several bizarre disappearances and reappearances- the increased schedule does leave her strained towards the end of the year, however. Hermione lets Harry and Ron in on the secret near the end of the book, where she and Harry use the Time-Turner to save Sirius and [[Buckbeak]].

Hermione's Time-Turner resembles an [[hourglass]] pendant on a necklace; it is unclear if all of them do. The hourglass pendant is twisted to move through time, and the number of turns on the hourglass corresponds to the number of hours one travelled back in time. The travel ends as the traveller arrives to the point in time of which s/he ''went'' back in time (e.g. Hermione and Harry go back three hours; three hours after their arrival in the past, they return to the time period they turned back).<ref name="PA21">{{HPref|book=3|chapter=21}}</ref>

===Vanishing Cabinet===
The '''Vanishing Cabinet''' is a cabinet located in Hogwarts that is a part of a set of two; the other cabinet resides in [[Borgin and Burkes]]. One simply enters a cabinet at one location and exits the cabinet at the other location.

The Vanishing Cabinet is first seen in ''Chamber of Secrets'' when Harry in mistakenly transported to Borgin and Burkes in [[Knockturn Alley]] and hides in it to elude Draco and the man that appears to be his father. That cabinet's counterpart is mentioned in ''Chamber of Secrets'' when [[Hogwarts ghosts|Sir Nicholas de Mimsy-Porpington]] convinces [[Peeves]] to drop it (thus breaking it) over [[Argus Filch]]'s office in order to help Harry escape detention for "befouling of the castle" (tracking in [[mud]]). It was also used in ''Order of the Phoenix'' by Fred and George, when they forced Montague, the [[Hogwarts Houses#Slytherin|Slytherin]] Quidditch captain and member of the Inquisitorial Squad into it when he tried to take house points from Gryffindor. Draco then learns of Montague’s experience, learning that you could transport between the two cabinets and that the other is located in Borgin and Burkes. He later tells Voldemort of this and is instructed to fix the broken one at Hogwarts as so to transport the [[Death Eater]]s into the highly secured castle.

In ''Half-Blood Prince'' Draco visits the dark shop to ask for instruction in fixing the one broken Cabinet placed in the [[Hogwarts layout|Room of Requirement]] at Hogwarts after Peeves broke it by dropping it in Draco's second year. After Draco pales and becomes fatigued in his complex struggle to fix the cabinet, he madly yells in triumph as he succeeds and allows the [[Death Eaters]] to finally enter the school. Thus, a chaotic battle begins in the castle between them and the [[Order of the Phoenix (organisation)|Order of the Phoenix]], ultimately leading to Dumbledore's death.

==Writing utensils==
===Anti-Cheating Quill===
The ''Anti-Cheating Quill'', a quill with an anti-cheating charm on it, first mentioned in ''Philosopher's Stone''.{{PS|16}} Although it is not mentioned in other exams, it is presumably used for all the exams Harry takes at Hogwarts.

===Auto-Answer Quill===
The ''Auto-Answer Quill'' is banned from the examination hall in the OWLs.{{OP|31}} Although it is likely these are banned in all exams, they are not mentioned until ''Order of the Phoenix''.

===Blood Quill===
The ''Blood Quill'' is used by Umbridge throughout ''Order of the Phoenix'' to carry out her perverse punishment of "cutting up" students. In [[Harry Potter and the Order of the Phoenix|the fifth book]], Harry has detention with Umbridge on several occasions. During these detentions, he is required to write lines (''I must not tell lies''), and is not released from this until Umbridge believes "the message has sunk in." Rather than using a regular [[quill]], Umbridge makes Harry use a blood quill, which is described as unusually sharp with a black nib. As the user writes, the quill magically (and painfully) cuts into the back of the user's hand and uses their blood for ink. When carried out repeatedly over a period, this can lead to permanent scarring, as shown by Harry to [[Rufus Scrimgeour]] in the last two books. Another victim of this form of detention is [[Lee Jordan]]. In the film interpretation, all members of [[Dumbledore's Army]] were punished using this method.

===Quick Quotes Quill===
A ''Quick Quotes Quill'' is a stenographic tool employed by [[Rita Skeeter]] to spin the words of her subjects into a more salacious or melodramatic form more to her liking. Because she sucks on it first before writing (which then the quill writes to her liking), it is speculated that the quill will also write to the likings of others (as long as he or she sucks it before it begins writing).

Rita uses the quill to interview Harry (inside a Hogwarts broomstick cupboard) about his participation in the [[Triwizard Tournament]] in ''Goblet of Fire'' for her column in the newspaper, ''The Daily Prophet''. Harry continually tries to correct the inaccuracy of the quill to Rita. However, she rudely ignores him. Additionally in ''Deathly Hallows'', Rita mentions in her interview concerning Dumbledore's posthumous biography that the Quick Quotes Quill helped her to write the book so quickly after his death.

==Other uncategorized objects==
These objects remain uncategorized as they are the only ones in their field.

===Gubraithian fire===
'''Gubraithian Fire''' is a conjured everlasting magical fire that may only be created by extremely skilled wizards. First mentioned in ''[[Harry Potter and the Order of the Phoenix]]'', Hagrid and [[Madame Maxime]] give a branch of Gubraithian fire (conjured by Dumbledore, to burn atop the branch) as a gift to the leader of the [[Magical_creatures_(Harry_Potter)#Giants|giants]] during their journey.

===The Marauder's Map===
'''The Marauder's Map''' is a magical map of Hogwarts which makes its first appearance in ''Prisoner of Azkaban''. The map was created by the four students known collectively as "The Marauders" at Hogwarts. During their time there, they gained extensive knowledge about the school grounds, such as its various hidden passages, from their frequent night-time adventures together. These marauders were James Potter (Prongs), Sirius Black (Padfoot), Remus Lupin (Moony), and Peter Pettigrew (Wormtail).

At first glance, the Map is simply a blank piece of parchment; but when the user points their wand to the Map and says, "I solemnly swear that I am up to no good," the message "Messrs Moony, Wormtail, Padfoot and Prongs, purveyors of aids to magical mischief-makers, are proud to present the Marauders Map," and a detailed layout of Hogwarts' Castle (including secret passageways) is revealed.{{HP3}} Saying, "Mischief managed!" returns the map to its original blank state.{{HP3}} The Map gives information on how to open secret passageways, though several locations (such as the Room of Requirement and the Chamber of Secrets) do not appear on the map. It would seem that the four friends either did not have any knowledge of them, or-in the case of the former-they are unplottable. Furthermore, Animagus disguises or Invisibility Cloaks cannot fool the Marauder’s Map. Not even Polyjuice Potion can outwit the Marauder's Map. For this reason, Barty Crouch Jr., disguised as Moody, considered it a threat and asks to 'borrow' the map from a trusting Harry.

In ''Prisoner of Azkaban'', Fred and George (who have no further need for it) give the Map to Harry so he can get to Hogsmeade Village through a hidden passageway. Snape later on found the Map in Harry's possession and tried to force it to reveal its secrets. It merely insulted him with mocking phrases, the Map retains an echo of its creators' personalities, much like the Sorting Hat remembers the thoughts and opinions of the school founders; the marauders had no happy memories of Snape. Lupin later took it with him. He returns the map to Harry after resigning his post at Hogwarts. The Map then on makes insignificant appearances in the books.

All the lines in the Map are made up of what at first glance are just random letters, but upon closer inspection are [[Latin]] words. In the books, there is no mention of Harry recovering the Map from the office of the Professor Moody impostor and Harry later uses it in upcoming books. When asked, Rowling answered that Harry had indeed sneaked into the office and recovered it in the days following the Third Task. She also commented that she had intended to include a scene or mention it. When asked during an online question session, "What child did Harry give the Marauders Map to if any?" (After his school years), Rowling responded "I’ve got a feeling he didn’t give it to any of them, but that James [one of Harry's sons] sneaked it out of his father’s desk one day."<ref>{{cite web | title =J. K. Rowling Web Chat Transcript | date =30 July 2007 | url =http://www.the-leaky-cauldron.org/2007/7/30/j-k-rowling-web-chat-transcript | accessmonthday =July 30 | accessyear=2007}}</ref> This is expected, as James Potter, the boy's grandfather, was also a mischief-maker.

===Omnioculars===
'''Omnioculars''' are a pair of magical brass [[binoculars]] used by Harry, Ron, and Hermione in the fourth book during the Quidditch World Cup. Omnioculars, besides having magnified lenses, have many other features. Among them, the ones mentioned are the ability to replay or slow down something seen through the lenses, although a side effect is that the view in the lenses is not accurate of what is currently happening, since it's going slower than real life. They also have a play-by-play feature, where the names of moves performed by [[Quidditch]] players is shown in bright purple letters across the Omnioculars' lenses.{{HP4}}

===Spellotape===
[[Image:Spellotape.jpg|thumb|right|Ron using spellotape in [[Harry Potter and the Chamber of Secrets (film)|Harry Potter and the Chamber of Secrets]]]]
'''Spellotape''' is [[magic (Harry Potter)|magical]] [[adhesive tape]]. The name is a play on [[Sellotape]], a popular brand which has become a [[genericised trademark|generic name]] for transparent [[adhesive tape]] in the [[United Kingdom]].<ref>{{cite book |last=Boyle |first=Fiona |authorlink= |title=A Muggle's Guide to the Wizarding World: Exploring The Harry Potter Universe |publisher=[[ECW Press]] |date=2004 |pages=363 |isbn=155022655X}}</ref><ref>{{cite book |last=Whited |first=Lana A. |authorlink= |title=The Ivory Tower and Harry Potter: Perspectives on a Literary Phenomenon |publisher=[[University of Missouri Press]] |date=2002 |pages=280 |isbn=0826215491}}</ref>

Spellotape is referenced in all of the Harry Potter books, apart from ''Deathly Hallows'', and is seen in the second film.

==Wand==
A '''[[wand]]''' is a part of a wizard's everyday accessory, used to perform magical feats, and without which only limited magic is possible. They are used as both tools and weapons in the Wizarding World. Wands are generally carried inside the wizard's robes in the books; however, they can also be placed into other objects. For instance, Hagrid hid the broken halves of his wand inside his umbrella. In the ''Harry Potter'' universe, when a wizard has committed a serious crime, their wands are snapped in half.

The only named wand shop is Ollivander's. This is where Hagrid takes Harry to buy his first wand. In the "Weighing of the Wands" chapter of ''[[Harry Potter and the Goblet of Fire]]'', Ollivander is seen to evaluate two foreign wands: Krum's wand: a Gregorovitch creation, unusually thick; and Fleur's wand, whose core (a hair from her Veela grandmother) he felt created "temperamental" wands, which is why he did not use it himself.

===Creation===
A wand is made by a wandmaker learned in wandlore, the study of wands. Wands are handcrafted from "wandwood", which is a wood capable of sustaining magic (e.g. Holly, Yew, ebony, vinewood, etc.). Then a core is inserted into the middle of the wand from top to bottom. Such cores have been mentioned to include [[phoenix (mythology)|phoenix]] tail feathers, [[unicorn]] tail hairs, [[dragon]] heartstrings and [[Veela]] hair. The books mention that Ollivander only uses phoenix feathers, dragon heartstrings and unicorn hair as the cores of his wands. In the ''Deathly Hallows'', the [[#Elder Wand|Elder Wand]] is described as having a core made from the tail hair of a [[Thestral]].<ref>[http://www.jkrowling.com/textonly/en/extrastuff_view.cfm?id=25 J.K.Rowling Official Site<!-- Bot generated title -->]</ref>

===Effects===
A wand is generally considered personal for a wizard. However, wands belonging to other [[Wizard (fantasy)|wizards]] can be used to a comparatively less potent effect. In ''Philosopher's Stone'', Harry had to try out many wands before he found one that "chose him". It was an {{convert|11|in|mm|sing=on}}, holly and phoenix feather wand.

Wands with cores from the same source give strange effects ([[Priori Incantatem]]) when forced to fight each other, as is the case with Harry and Voldemort's wands. In ''Goblet of Fire'', it is revealed that each of their wands contains a tail feather from [[Fawkes]], the phoenix belonging to Dumbledore. After ''Priori Incantatem'', the wands get to know the opposites' master - this is explained in ''Deathly Hallows''.

Wands are capable of changing masters. This is revealed in ''Deathly Hallows''. When a wizard or witch is defeated, or if their wand is forcibly taken from them in a fight (a form of defeat), the wand will change its allegiance to the one who defeated its previous master and work perfectly well with its new master. It is unclear if the wand will continue to work properly for its original master if it is returned (not taken back in a fight). However, any wands removed from the owners using Expelliarmus (other than Dumbledore when disarmed by Draco in ''Half Blood Prince''), seem to not change allegiance. If they have, they work perfectly well for their original masters when they retrieve them.

==Notes==
{{reflist}}
{{reflist}}


== External links ==
{{harrypotter}}
* [http://www.hm-treasury.gov.uk/press_100_08.htm HM Treasury Press Notice 100/08] Financial support to the banking industry


{{Economic Crisis}}
[[Category:Harry Potter universe|Objects]]
[[Category:Fictional objects]]


[[Category:2000s economic history]]
[[de:Begriffe der Harry-Potter-Romane]]
[[Category:2008 in economics|United Kingdom bank rescue package]]
[[es:Anexo:Objetos mágicos en Harry Potter]]
[[Category:2008 in the United Kingdom|Bank rescue package]]
[[fr:Objets magiques dans l'univers d'Harry Potter]]
[[Category:Economic history of the United Kingdom]]
[[hr:Čarobni predmeti u Harryju Potteru]]
[[Category:Banking in the United Kingdom]]
[[it:Oggetti magici di Harry Potter]]
[[ms:Objek Sihir Harry Potter]]
[[pl:Magiczne obiekty z cyklu Harry Potter]]
[[sv:Magiska föremål i Harry Potter]]
[[vi:Những đồ vật Pháp thuật trong bộ truyện Harry Potter]]
[[zh:哈利•波特中的魔法物品]]

Revision as of 00:11, 11 October 2008

Alistair Darling

A bank rescue package totalling some £500 billion (US$860 billion) was announced by the British Government on 8 October 2008, as a response to the ongoing financial crisis. After two unsteady weeks at the end of September, the first week of October had seen major falls in the stock market and severe worries about the stability of British banks. The plan aimed to restore market confidence and help stabilise the British banking system, and provided for a range of short-term loans and guarantees of interbank lending, as well as up to £50 billion of state investment in the banks themselves.

Background

The announcement occurred less than 48 hours after Britain's leading share index, the FTSE100, recorded its largest single-day points fall since 1987.[1] A similar bailout package had been passed in the United States the previous week, as the Emergency Economic Stabilization Act of 2008. Details of the rescue package were worked on overnight and were finalised at 05:00.

The rescue plan

The plan provides for several sources of funding to be made available, to an aggregate total of £500 billion in loans and guarantees. Most simply, £200 billion will be made available for short terms loans through the Bank of England's Special Liquidity Scheme. Secondly, the Government will support British banks in their plan to increase their market capitalisation through the newly formed Bank Recapitalisation Fund, by £25 billion in the first instance with a further £25 billion to be called upon if needed. Thirdly, the Government will temporarily underwrite any eligible lending between British banks, giving a loan guarantee of around £250 billion.[2] However, only £400 billion of this is 'fresh money', as there is already in place a system for short term loans to the value of £100 billion.[3]

Through the Bank Recapitalisation Fund, the government will buy preference shares in the banks; these shares will take priority in the event of a liquidation, and will pay a dividend but hold no voting rights. The amount and proportion of the stake that will be taken in any one bank has yet to be determined. Banks that take the rescue packages will have restrictions on executive pay and dividends to existing shareholders, as well as a mandate to offer reasonable credit to homeowners and small businesses.[3] The long-term government plan is to offset the cost of this program by receiving dividends from these shares[2], and in the long run, to sell the shares after a market recovery.[3] This plan may potentially extend to underwriting new issues of shares by any participating bank.[2] The plan has been characterised as, in effect, partial nationalisation.[4]

Alastair Darling, the Chancellor of the Exchequer, told the House of Commons in a statement on 8 October 2008 that the proposals were "designed to restore confidence in the banking system", and that the funding would "put the banks on a stronger footing".[5]. Prime Minister Gordon Brown suggested that the government's actions had 'led the way' for other nations to follow whilst Shadow Chancellor George Osborne stated that "This is the final chapter of the age of irresponsibility and it’s absolutely extraordinary that a government has been driven by events to today's announcement";[6]

The British rescue plan differs from the $700bn US bailout formally entitled the Troubled Asset Relief Program (TARP), in that the £50bn being invested by the U.K. Government will see them purchasing 'preference shares' from the banks (which in the future could see a return being made to the taxpayer), whereas the American program is primarily devoted to the US Government purchasing the mortgage backed securities of the American banks which are not able to be sold in the secondary mortgage securities market. The U.S. program does require the U.S. government to take an equity interest in financial organisations selling their securities into the TARP [7]

Participating banks

The plan is open to all UK based banks and so far the following banks have signed up for the plan[3]:

See also

References

  1. ^ "Stocks slide despite reassurances". BBC News. 2008-10-06. Retrieved 2008-10-08.
  2. ^ a b c Darling, Alastair (8 October 2008). "Statement by the Chancellor on financial stability". HM treasury. Retrieved 2008-10-09.
  3. ^ a b c d "Central banks cut interest rates". BBC News. 2008-10-08. Retrieved 2008-10-08.
  4. ^ Wearden, Graeme (2008-10-08). "Government to spend £50bn to part-nationalise UK's banks". The Guardian. Retrieved 2008-10-08. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
  5. ^ "Hansard". Hansard. 2008-10-06. Retrieved 2008-10-10.
  6. ^ in addition to offering conservative party support for the plan. Barker, Alex (2008-10-08). "Brown says UK leads world with rescue". Financial Times. Retrieved 2008-10-08.
  7. ^ "Q&A: How will the UK bailout work?". CNN. 2008-10-08. Retrieved 2008-10-08.

External links

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