Hot water cirulates from your back boiler/stove to cylinder, the cylinder will absorb as much heat as it can. When you hear the banging, it is hot enough. Your thermostat should kick in before this. the thermostat activates the pump that sends the very hot water around the radiator system.
You may have a faulty thermostat, but I belive if it is an old problem, the thermostat may be wired wrong. try rewiring it first, there is just two cables. Your stat seems to be working in reverse order I.E has to be very high to activate.