Bank of England’s proposals for reform fall short of what is needed, claims Treasury Committee Chairman

The Treasury Committee today published the Bank of England’s response to the Committee’s report “Accountability of the Bank of England” of November 2011.

• Response from the Court of the Bank of England

Commenting on the Bank of England’s response, the Chairman of the Treasury Committee, Andrew Tyrie MP, said:

“The Bank of England’s response requires careful consideration.

The Treasury Committee intends to produce a short report in time for consideration by the Chancellor before he publishes the Financial Services Bill at the end of the month.

“Whilst supporting some of the Committee’s recommendations, on several key points the Court of the Bank of England falls short of what is needed.

“These points will be set out in the Committee’s report.”

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