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Banking Bill

The Minister’s reply is helpful. I am not sure I understood which Companies Act reporting requirements apply to the Bank of England because it is not subject to the Companies Act. No doubt the Minister can clarify that in writing. I understand the Government’s concern about not wishing to increase the possibility of financial instability; I conceded that earlier. The fact remains, however, that some information from which markets could find out whether the Bank was printing money, for example, will be removed. The Minister says that there is no intention to reduce transparency but that the Bank will publish if it so wishes. That does not seem like a recipe for transparency. I will, however, consider further before Report. Clause 235 agreed. Clauses 236 and 237 agreed.