asked the Chancellor of the Exchequer whether the Bank of England is expected to conform so far as its annual accounts are concerned with the normal accountancy practices and to disclose information such as would be required if the relevant provisions of the Companies Acts applied to it.

The annual accounts of the banking department of the Bank of England are prepared so as to comply with the requirements of the Companies Acts and the statements of standard practices in so far as they are material and appropriate. These annual accounts are published with the Bank's annual report and are accompanied by statements of account of the Issue Department, the assets of which are valued quarterly in accordance with the requirements of the National Loans Act 1968.